Deck 6: Assessment of Entrepreneurial Opportunities and Marketing Research for Entrepreneurial Ventures

Question 1

Cost is often a major obstacle to marketing research for a new venture.

Answer 1

True

Question 2

Marketing research is sometimes irrelevant to a problem; however, it sometimes provides useful information.

Answer 2

True

Question 3

There are three distinct types of marketing philosophies that exist among new ventures.

Answer 3

True

Question 4

The greatest potential for internet marketing is with direct marketing.

Question 5

Two major concerns with marketing on the Internet are unlimited target audiences and customer resistance to change.

Question 6

The web allows companies to gather and disseminate market information cheaper than traditional methods.

Question 7

Which one of these typically has the lowest response rate?

A)direct face-to-face contact
B)interviews
C)phone survey
D)mail survey

Question 8

The primary reason many entrepreneurs fail to use marketing research is

A)high cost
B)ignorance
C)lack of time
D)lack of sophistication

Question 9

Which of the following is a complex marketing research technique?

A)observation
B)telemarketing
C)statistical analysis
D)opinion

Question 10

All of the following are examples of consumer types except

A)late adopters
B)early adopters
C)innovators
D)laggards

Question 11

What element promotes and distributes products according to market research findings?

A)marketing research
B)marketing plans
C)sales research
D)cost analysis

Question 12

What part of the marketing plan strategies begins with identifying the end users, wholesalers, and retailers, as well as their needs and specifications?

A)product/service
B)marketing
C)pricing structure
D)competitive focus

Question 13

Which of the following is not an Internet marketing advantage?

A)information transfer
B)product demonstration
C)cultivate new customers
D)limited target audience

Question 14

Traditional marketing techniques tend to be _____ oriented, while the Internet is _____ oriented.

A)seek, maintain
B)seek, pull
C)push, pull
D)pull, push

Question 15

The greatest future benefit from marketing on the internet lies in:

A)provide a business/firm description
B)direct selling
C)registering the domain name
D)making the site interactive

Question 16

Internet marketing involves sharing information about the company with customers and

A)allows companies to sell customer information
B)copy catting
C)allows companies to slightly mislead customers
D)allows companies to gather information from customers

Question 17

Among the numerous advantages of Internet marketing, two major concerns have arisen.

A)limited target audience and consumer resistance to change
B)unlimited target audience and consumer resistance to change
C)limited target audience and demographics
D)demographics and unlimited target audience

Question 18

How would you characterize your markets?

Question 19

How can an entrepreneur find more people (businesses/buyers) like the ones he or she already has?

Question 20

How will you attract and keep these markets?

Question 21

How can an entrepreneur expand his or her markets?

Question 22

Why do they buy from one entrepreneur and not from the competition?

Question 23

It is reported that new firms have emerged in the United States every year since the early 1990's.

A)600,000
B)100,000
C)22,000
D)230,000

Question 24

Ronstadt notes that the decision to ignore the market is

A)a smart one.
B)a fairly risky one.
C)an extremely risky one.
D)a critical one.