Deck 16: Marketing and Pitching Your Idea

Question 1

When marketers use the S.A.V.E.approach, the focus is switched from price to which of the following?

A)access
B)solution
C)value
D)education

Answer 1

C

Question 2

Stephen has opened a BBQ restaurant that he hopes will be favored as a sports bar.Which of the following best describes an example of a need for positioning?

A)Stephen receives a complaint from a customer about the lack of heat in the BBQ sauce.
B)Stephen notices several Facebook postings that describe his restaurant as "a good family restaurant" and "a perfect end to a day of shopping."
C)Stephen notices several Facebook postings that describe his restaurant as good but a bit pricey.
D)Stephen notices that many calls are coming in asking for directions to his location.

Answer 2

B

Question 3

Karen's company manufactures high-end design cookware.Karen will be selling her product at a chain grocery story during the month of December and will be paying for a center isle display near the front entry of the store.This is an example of which of the 4 Ps:

A)distribution
B)promotion
C)product
D)place

Answer 3

D

Question 4

Karen's company manufactures high-end design cookware.The handles of the cookware remain cool when used on a stovetop and have slip-on covers for the handles to be used for removing the product from the oven.This demonstrates what element in the marketing mix?

A)promotion
B)service
C)customer orientation
D)product

Question 5

Karen's company manufactures high-end design cookware.Karen has signed with a local kitchenware store to give free cooking lessons during which she will use her cookware.This is an example of which of the following marketing elements?

A)distribution
B)promotion
C)product
D)place

Question 6

Andrew Loos, cofounder of Attack! Marketing, related his error in saying "yes" to clients, promising duties that he could not fulfill.Based on his story, what type of error did he commit?

A)not defining the service clearly enough
B)providing too much, time-consuming customer service
C)building a reputation of providing additional services
D)not listening to the needs of his customers

Question 7

A brand strategy can best be described by which of the following?

A)the logo and labeling on the product or service
B)the plan to market the product
C)the plan to communicate the brand messages to the target audience
D)the plan that organizes, controls, and legally protects the brand

Question 8

Al is starting an auto oil change and lubrication company and wants to be the first company listed in alphabetical order for any lists of service mechanics.Therefore, he names his business AAAA Oil.In considering the elements of the smile test, what might be an issue with the company name?

A)meaningfulness
B)hard to pronounce
C)annoying
D)tame

Question 9

The marketing mix can best be defined as:

A)the different segments that you will be marketing to
B)the brochures, business card, and marketing collateral
C)the different ways (channels) you will market the product
D)product, price, promotion, and place

Question 10

Stephen is preparing his pitch for a bank representative that will be considering him for a business loan.He lists the resumes and credentials of chefs who are working in the restaurant's kitchen.This is an example of what marketing principle?

A)positioning
B)promotion
C)people
D)packaging

Question 11

Andrew Loos, cofounder of Attack! Marketing, relates his success to his ability to pitch and network.Based on his story, what would be a key point in his pitch?

A)Attack! has access to markets that are younger and more active
B)Attack! campaigns allow the customer to engage with role models who would encourage them to try the product
C)Attack! promises a unique ability to have people touch and feel the product
D)Attack! provides superior giveaways so that the consumer can experience the product

Question 12

John is starting a sole proprietorship in which he will install home stereo systems.John decides to test a paid Google Ad so that the name of his company will gain recognition.This is an example of what marketing mix element?

A)product
B)promotion
C)place
D)advertising

Question 13

The goal of the business pitch is which of the following:

A)to have people buy or fund the product or service
B)to rally the support of the person you are pitching to
C)to start a discussion that may grow to a favorable outcome
D)to sell a service or product

Question 14

In considering the elements of the scratch test, what might be an issue with the brand name catch-sup?

A)curse of knowledge
B)hard to pronounce
C)spelling-challenged
D)tame

Question 15

When marketers use the S.A.V.E.approach, the focus is switched from place to which of the following?

A)access
B)solution
C)value
D)education

Question 16

Pricing is based on which of the following:

A)the ability to pay within specific market segments
B)the price of competitive products
C)the value perceived by the customer
D)the cost of producing the item

Question 17

When marketers use the S.A.V.E.approach, the focus is switched from promotion to which of the following?

A)access
B)solution
C)value
D)education

Question 18

Branding can best be described as which of the following?

A)the logo and wording that is placed on the product
B)the positioning of the product relative to the competitors
C)a promise, letting customers know what to expect relative to competitive products
D)the name of the company that can gain popular recognition

Question 19

When marketers use the S.A.V.E.approach, the focus would likely be which of the following?

A)a greater focus on solutions and education
B)cost reduction
C)a need for an updated, technology-oriented approach to marketing
D)an emphasis on place, price and promotion

Question 20

The marketing mix consists of which of the following elements:

A)the different segments that you will be marketing to
B)the mix of products that you are offering
C)the different ways (channels) you will market the product
D)product, price, promotion, and place

Question 21

GreenGrow Landscaping services prides itself on innovative and creative designs.On their business cards and all media, they show a green leaf with a distinctive "G" formed by the stem.This is an example of which of the following:

A)a tagline
B)a brand
C)a logo
D)copyright

Question 22

Nike's "swish label," found on all of its products, is an example of which of the following:

A)a brand
B)a campaign
C)a logo
D)a tagline

Question 23

In the research of Lakshmi Balachandra, what characteristic was rated above competency as a measure of trustworthiness?

A)nothing; competency was rated highest
B)amount of personal investment in the company
C)coachability
D)shared common interests

Question 24

What does the author mean by the nonvisual dimensions?

A)nonverbal gestures used by the speaker to communicate
B)the communication aids, such as presentation slides and handouts
C)the signs of encouragement that we give people we are presenting to
D)consideration to different sensory learning styles the audience may have

Question 25

Entrepreneurs need to market themselves as well as their product due to which of the following?

A)Entrepreneurs tend to be unknown and have no name or brand recognition.
B)The product or service is new, so selling yourself enhances the product pitch.
C)Investors will invest in you first and want to see that there is a long-term relationship.
D)People will buy your product only if they like you since sales tend to be one-on-one.

Question 26

Bea's Donut shop was asked to sponsor a political group's event, during which her product would be on display.Bea refused because Bea's donut shop is based on an image of family and tagline of "a taste of friends and family." What is Bea's concern in refusing this marketing opportunity?

A)managing her brand
B)the cost of the event
C)the use of her logo
D)the use of her tagline

Question 27

Which of the following best describes the amount of time you have to make an impression during a pitch session?

A)People will usually allow you at least a minute before they decide if they want to hear more.
B)People will listen to your entire pitch before deciding if they like your product or service.
C)You will have between 7 and 20 seconds to create a good impression.
D)You will have one tenth of a second.

Question 28

How often do people expect to see updates on Twitter?

A)at least once a month
B)at least once a week
C)twice a week
D)several times a day

Question 29

In the description of FlowDog, the company states that it "gives dogs every opportunity to fully recover, prevent injury, and even prolong life." This is an example of what aspect of the S.A.V.E approach?

A)offering a superior product or service
B)offering lower-cost service
C)focusing on the solution
D)emotional appeal

Question 30

Entrepreneurial marketing is distinct from traditional marketing in which of the following ways?

A)the focus is on interacting with the customers
B)the focus is on marketing with the lowest possible media
C)the focus is on a hierarchy of customers, starting with a circle of family and friends
D)relies on low-cost brochures, handouts, and business cards

Question 31

GreenGrow Landscaping services prides itself on innovative and creative designs.Which of the following sites would be a must if the company wants to showcase its work?

A)Instagram
B)Facebook
C)Twitter
D)LinkedIn

Question 32

What is the best description of a pitch deck?

A)the introductory statements that grab the audience's attention, placed at the start of the pitch
B)a brief presentation, usually 10 slides, that provides a quick overview of your idea
C)the detailed backup information that will give all the details of your idea
D)the handout summary that you give to your audience

Question 33

Nike's "Just Do It" statement is an example of which of the following:

A)a brand
B)a campaign
C)a logo
D)a tagline

Question 34

In pitching his new product, an entrepreneur describes the life of a customer before and after using her product.The entrepreneur is using what approach to pitching?

A)emotional appeal
B)building rapport
C)storytelling
D)engagement

Question 35

What approach would be best for entrepreneurs testing out the effectiveness of social media sites?

A)engage in social media only if you have a dedicated person to update the site
B)chose only one primary site, as social media is time consuming
C)make use of all the sites available
D)chose only one or two that fit with your target market

Question 36

Which of the following is typical of browsing behavior in the United Kingdom?

A)browsing on smartphones
B)browsing on desktop computers
C)browsing in kiosks
D)browsing in universities and libraries

Question 37

What percentage of communication is nonverbal?

A)25%
B)45%
C)47%
D)93%

Question 38

When marketers use the S.A.V.E.approach, the focus is switched from product to which of the following?

A)access
B)solution
C)value
D)education

Question 39

Of the following, what component of communication is most effective in communicating your message?

A)the words spoken
B)facial expressions
C)body movements
D)had gestures

Question 40

Kevin explains that his new technology will provide a service that will take care of grease produced by fast-food kitchens.The technology is patented and will reduce the cost of grease elimination by 25% while contributing to a safer environment.There are no competing products.Investors will get 20% of the annual profits, projected to be $1.5 million in the first year.This is an example of:

A)the financial forecast
B)a product description
C)a value proposition
D)the pitch deck

Question 41

The S.A.V.E.approach was the result of:

A)a five-year study of 500 managers and customers conducted by the Harvard Business School
B)a need to update the approach of the 4 Ps to be suitable for Internet products
C)a need for an easier to understand approach to the marketing mix
D)a need to focus on service-related companies

Question 42

Based on the example shown of the S.A.V.E.approach, why is education an alternative to promotion?

A)Through websites and social media, it is easy to provide up-to-date and relevant information that customers will want to read.
B)Customers are better educated today than in previous generations.
C)An education approach provides a "softer" approach to sales than promotion.
D)When you are promoting a product, you are actually providing education.

Question 43

Why would an entrepreneur be constantly tweaking the marketing mix?

A)to adjust to a competitive and ever-changing market
B)to adjust for improvements in the product or service
C)to take advantage of new ways of marketing, especially the Internet
D)to make sure that you are still on track with your original plan

Question 44

In pitching his idea to agencies, the founder of Attack! did not create a formal business plan.What were his ideas based on?

A)research with companies that had used marketing services
B)observations made while working in the marketing field
C)a model program observed by watching another marketing company
D)a request from customer feedback

Question 45

Bea's Donuts requires that all people working in her store wear a light blue polo shirt showing the logo of her company.Requiring this shirt is part of what aspect of marketing?

A)service
B)packaging
C)employee engagement
D)positioning

Question 46

What is meant by entrepreneurial marketing?

A)any marketing conducted by an entrepreneur
B)lower cost, inexpensive marketing
C)a set of processes based on new and unconventional marketing practices
D)marketing conducted by people who do not have a traditional marketing job title or role

Question 47

Al Ries suggested that using one word as the product or company would create a stronger brand.What was the reasoning behind this suggestion?

A)It would be easier for consumers to remember.
B)It would leave it to the consumer to fill in the blank.
C)It would force the product to represent one singular goal.
D)It would encourage linkage between the company and its service.

Question 48

Which of the following did the authors suggest as monitoring the appropriate price for your product?

A)test the effect of price changes on demand for the product
B)lower the price as sales drop
C)adjust the price relative to the increase or decrease of the cost of goods to produce it
D)examine competitor prices

Question 49

How do the authors suggest that the brand message be delivered?

A)by stating the company purpose on all packages
B)by consistently using the product tagline
C)by advertising and social networking
D)by channeling it through advertising, distribution, and packaging

Question 50

Why is it important to explain the marketing mix before starting a company?

A)It will help in pitching the product.
B)It will prevent loss of time and money marketing to the wrong target group.
C)It will crystalize the offering and determine how the product or service will be taken to the market.
D)It will help categorize the service for formal Internet and print advertising media.

Question 51

What name is given to the process of creating a name, design, symbol, and other features that identify and differentiate your product?

A)positioning
B)promoting
C)branding
D)product design

Question 52

In considering access, what is the focus?

A)the exact location where your product can be purchased
B)a variety of places or ways that the product can be purchased
C)the path from hearing about the product to the actual purchase
D)the ease of getting information about your product or service

Question 53

The first and most important aspect of a brand is which of the following:

A)the name of the company, product, or service
B)the company logo
C)the company tagline
D)the product quality

Question 54

The following is one of the reasons why it may be more important to focus on solution rather than product:

A)product descriptions do not define how the product will be used
B)customer relationships are more important today, creating a need to reflect the customer's concerns
C)the customer may not know what your product or service will do for them
D)Internet browsing customers are researching solutions when they come across a company name

Question 55

A logo should:

A)state the purpose of the product or service
B)be easily remembered
C)create an emotional connection with the customer
D)be associated with the product, not the company

Question 56

What would be the best description of the term packaging?

A)the use of the logo and brand name on the product packaging
B)making sure that the form of delivery will prevent damage to the product 
C)the process of exploring all visual elements of the product and service appearance
D)presenting the service in clearly labeled and attractive packages

Question 57

In pitching his ideas for Attack!, Loos worked with agency people.How did he interact with them?

A)He gave a formal presentation using a pitch deck
B)He asked for financial support to start his business in return for a small percentage of profits
C)He worked with them, testing out his ideas with companies they already loved and consumed
D)He gave free services and was paid when the campaigns worked

Question 58

When asking "Is this service something that is suitable for my target audience," an entrepreneur is interested in what aspect of the marketing mix?

A)product
B)price
C)promotion
D)place

Question 59

Describing how a service stands out from its competitors would be considered under what aspect of the marketing mix?

A)product
B)price
C)promotion
D)place

Question 60

Jan runs Readybooks Accounting from her home but rents space in an office that allows her to post her name and business cards.What aspect of the marketing mix is Jan demonstrating?

A)product
B)price
C)promotion
D)place

Question 61

What repetitive cycle is suggested for launching a social media campaign?

A)research, set goals, post, measure online presence, adjust
B)research, set goals, post, and update
C)research, post, and update
D)set goals and update

Question 62

What is the term given to the process of selling that is genuine, creative, adds value, and builds relationships?

A)guerilla marketing
B)soft selling
C)content sale
D)social media

Question 63

What follows Google and YouTube as a search engine?

A)Yelp
B)Facebook
C)Bing
D)Twitter

Question 64

What are the advantages of site maps, mark-up tags, and keywords?

A)the ability of search engines to categorize your website
B)an increased ability to be picked up by search engines
C)a more organized website
D)they increase the ability of users to navigate your site

Question 65

According to a study by Akamai Technologies, how long will online shoppers wait for a website to load before going elsewhere?

A)15 seconds
B)10 seconds
C)4 seconds
D)2 seconds

Question 66

Carlos owns a propane company that services residential customers.Recently, he started out a new customer by checking all appliances that used propane.This extra service is indicative of entrepreneurial marketing for which of the following reasons?

A)with fewer customers, it is possible to build good relationships with customers
B)a focus on customer retention is critical
C)a focus on personal interactions that will enhance word-of-mouth recommendations
D)a focus on making sure that the product or service is working properly

Question 67

What enables people to find you online via Google or other online browsers?

A)blogs and social media
B)word-of-mouth advertising
C)search engine optimization
D)AdWords

Question 68

What percentage of communication is achieved through actual words?

A)7%
B)20%
C)36%
D)44%

Question 69

What advantage did the use of Facebook have in marketing the product The Natural Grip?

A)The startup was able to reach a mass audience of Facebook users.
B)The startup was able to connect with sports fans around the world.
C)The startup was able to identify where gymnasts and weightlifters congregated.
D)The startup identified investors who helped fund the company.

Question 70

Who is the primary sales contact at Atlassian, an enterprise software company?

A)an online sales contact who sells through a chat feature on the website
B)an offshore telemarketing group
C)members of a technology support team
D)the company president

Question 71

Which of the following enables the entrepreneur to find potential stakeholders, experts, and fellow entrepreneurs?

A)Facebook and Twitter
B)YouTube
C)Instagram
D)all of these

Question 72

Why would a content developer use subheadings, bulleted lists, highlighted keywords, and jargon-free language?

A)doing so helps guide the eye across the text
B)doing so helps visitors skip to the area that interests them most
C)doing so makes the text more visually appealing
D)visitors like to see text in chunks

Question 73

Which of the following best distinguishes entrepreneurial marketing from traditional marketing?

A)the marketing message is delivered as a dialogue
B)the marketing message is delivered as an elevator pitch
C)the marketing message is delivered as a pitch
D)the marketing message is delivered through unusual media

Question 74

What is a call to action?

A)the action you would like your audience to take after you finish your presentation
B)an emotional plea to rally around your product
C)a request for help
D)the "go" signal indicating that the deal has been made

Question 75

How did the company Zappos quickly distinguish itself to attract a large customer base?

A)by massive emailing
B)by starting at college campuses
C)by emphasizing free, easy returns and excellent customer service
D)by offering known brands at drastically reduced prices

Question 76

What is the best way to start determining the success of a guerilla marketing campaign?

A)an increase in sales
B)an increase of activity on social and traditional media mentioning your company and campaign
C)employee feedback
D)a market survey that asks questions about interest in your product or service

Question 77

What is the most popular site after Google and Facebook?

A)Instagram
B)Yelp
C)YouTube
D)Twitter

Question 78

Google search ratings can be increased by which of the following?

A)links to social media pages that are also calculated in the ratings
B)the quality of posts onto the website
C)paying for Google ads
D)building an attractive website

Question 79

To determine how easy it is to navigate one's website, what should the entrepreneur do?

A)seek help from a professional website designer
B)ask friends for their opinion
C)determine how many clicks a visitor will need to access key information
D)place your most important information on the landing page

Question 80

What is the oldest form of social media?

A)Google
B)blogs
C)websites
D)Facebook