Deck 10: Small Business Promotion: Capturing the Eyes of Your Market

Question 1

Press relations are a form of communication that encourage the customer to take immediate action.

Answer 1

False

Question 2

Sales leads who actually make some sort of effort to learn more about the product,service,or business in anticipation of a possible purchase are known as prospects.

Answer 2

True

Question 3

Advertising costs are usually based on cost per hundred thousand.

Answer 3

False

Question 4

Customer vector summarizes information by groups of customers.

Question 5

The method of advertising is least likely to be used by businesses to convey their message to potential customers.

Question 6

It is customary for a small business to concentrate its efforts on one target market at the beginning and consider secondary ones later.

Question 7

The proof of a customer relationship management effort is seen in higher levels of customer loyalty in existing customers.

Question 8

When the fear appeal used by a marketing message is a too strong,it always causes the audience to react positively.

Question 9

Most service providers get business usually through referrals or word-of-mouth.

Question 10

Advertising is often used to support the corporate identity and value propositions that are established through public relations efforts.

Question 11

It is nearly impossible to design a message that will appeal universally or to find media that will reach all consumers.

Question 12

Your estimated number of prospective customers multiplied by your hit rate multiplied by the amount of each sale equals your sales forecast.

Question 13

The process of dividing the market into smaller portions of people that have certain common characteristics is called stereotyping.

Question 14

Succinct messages make a business clear to potential clients and customers.

Question 15

The close of a sale is the end of the sale.

Question 16

Promotion includes getting the message out to the target market so that they can make decisions about a product or service.

Question 17

Personal selling decreases business owners' flexibility in their presentation.

Question 18

Brochures and flyers are types of promotional novelties.

Question 19

Your hit rate is how many prospects or leads you need to approach in order to make one sale.Also called the conversion rate.

Question 20

It costs five times as much to get a purchase from a new customer compared to an existing one.

Question 21

_____ is the segment or segments a business owner selects to concentrate his or her marketing efforts.

A) Target market
B) Qualified market
C) Customer vector
D) Optimized market

Question 22

Segmenting a market _____ involves dividing it into different segments in terms of cities or neighborhoods.

A) geographically
B) economically
C) demographically
D) culturally

Question 23

Follow-up refers to the contacts you periodically make with customers in order to remind them of your business,and your interest in their business.

Question 24

People who receive a promotional impression and who give some thought to buying the product are referred to as _____.

A) sales leads
B) qualified leads
C) prospects
D) target segments

Question 25

Which of the following is true of advertising?

A) It is the least likely to be used by businesses to convey their message to potential customers.
B) It works if an ad's impression is positive even if people do not recall it.
C) It works if people recall an ad even though it did not have a positive impact on them.
D) It involves presentation of a company's image.

Question 26

Which of the following is most likely to be true of signs as a form of advertising?

A) They must be large enough to read by passing traffic.
B) They generally contain the balance sheet of the company.
C) They describe the competitive strategies of the company.
D) They include stories of customers whose problems were solved.

Question 27

Which of the following is a characteristic feature of brochures and flyers?

A) They contain the annual balance sheet of the company.
B) They include stories of customers whose problems were solved.
C) They give more information about a firm and its products than business cards.
D) They provide word-of-mouth advertising.

Question 28

Which of the following is a characteristic feature of a message for a target market?

A) It is repeated less often.
B) It must contain the elements of a product's value proposition.
C) It must be abstract.
D) It must always be distinctive from target customers.

Question 29

_____ are usually produced for pennies in quantity.

A) Sales packets
B) Signs
C) Promotional novelties
D) Marketing kits

Question 30

Which of the following terms refers to a rule of thumb about how many prospective customers it takes to find one who will actually make a purchase?

A) Lead qualification
B) Value proposition
C) Marketing funnel
D) Segmentation

Question 31

_____ is the process of dividing the market into smaller portions of people who have certain common characteristics.

A) Target optimization
B) Market penetration
C) Segmentation
D) Market recognition

Question 32

Dividing the market into different segments by income,age,or religion constitutes segmenting the market _____.

A) geographically
B) economically
C) demographically
D) culturally

Question 33

Which of the following provides potential customers an education in a firm's product or service,including stories of customers' whose problems were solved,an FAQ list,as well as a page on the products or services,and a page on the business owner and his or her firm?

A) Promotional novelties
B) Sales packets
C) Business cards
D) Brochures

Question 34

A clothing company that divides its market using characteristics of clothing such as practical,stylish,or for a particular sport,etc.,is segmenting the market _____.

A) demographically
B) economically
C) geographically
D) by benefits sought

Question 35

How much of each message conveyance a business owner uses to sell his or her product as well as his or her objective in using each one is known as:

A) promotional mix.
B) marketing mix.
C) AIDA.
D) CRM.

Question 36

Which of the following is a characteristic feature of sales packets?

A) They are usually large enough to read by passing traffic.
B) They provide potential customers an education in a firm's product or service.
C) They generally consist of pens or small calendars which are printed with the name and slogan of the company.
D) They are generally hand-written.

Question 37

Which of the following is true of promotional novelties?

A) They explain the competitive strategies of the company to the readers.
B) They must be large enough to read by passing traffic.
C) They include stories of customers whose problems were solved.
D) They are given to key customers or as gifts to employees.

Question 38

When a marketer mentions the key points about his or her product or service in as few and as memorable words as possible,the resulting message is known as the _____ message.

A) succinct
B) core
C) primary
D) elementary

Question 39

_____ is often used to support the corporate identity and value propositions that are established through public relations efforts.

A) Personal selling
B) A corporate newsletter
C) Advertising
D) A press kit

Question 40

The number of prospects or leads you need to approach in order to make one sale if your _______.

A) organic traffic
B) conversion rate
C) proximity
D) customer vector

Question 41

Which of the following sets of numbers are the three you need to arrive at your sales forecast?

A) Potential Market,hit rate,and cost of sale
B) Prospective Customers,hit rate,and sale amount
C) Prospective Customers,hit rate,and cost of sale
D) Potential Market,hit rate and sale amount

Question 42

Entrepreneurs can use the AIDA formula to write press releases well.In this AIDA formula,"D" stands for _____.

A) Desire
B) Dominance
C) Development
D) Distance

Question 43

Which of the following is a component of the AIDA formula that aims to hook people to the press release?

A) Action
B) Desire
C) Interest
D) Attitude

Question 44

_____ are the terms included in the hidden portions of a web page which are used by search engines to describe a website and evaluate its focus and category placement.

A) Domain names
B) Keywords
C) Search terms
D) Embeds

Question 45

Which of the following terms refers to the activities used to establish and promote a favorable opinion by the media?

A) Press relations
B) Word-of-mouth communications
C) Sales promotions
D) Ambush marketing

Question 46

Which of the following statements is true of sales forecasting?

A) In many cases,the best sales forecast you can come up with is an educated guess.
B) It is better to have a high sales projection initially and adjust as actual sales happen.
C) Using traditional retailers and distributors does not change the price you set at the factory.
D) Ignore your capacity when identifying your potential market as you will not be serving the entire potential market.

Question 47

Paying for a local organization's needs in exchange for recognition is referred to as _____.

A) publicity
B) donation
C) personal selling
D) sponsorship

Question 48

Key chains,pens,coffee mugs,or embossed briefcases are examples of _____.

A) promotional novelties
B) signs
C) flyers
D) marketing kits

Question 49

Mentions of a company or products in the media for which a firm did not pay is referred to as _____.

A) buzz marketing
B) sales promotion
C) free ink
D) viral marketing

Question 50

Harry Howard,a successful real estate broker,has established his own real estate company in western Pennsylvania.He has on-the-job experience working at a real estate company where he had a whole staff supporting brokers' work.Now on his own,with two secretaries,Harry is building his dream of owning and growing his own business.He wants to mainly focus on middle-to-upper-income homeowners and is exploring what type of promotional material he needs to have.Which of the following would be the fastest way for Harry to build his client base?

A) Word-of-mouth
B) Full-scale advertising
C) Personal selling
D) Sales promotion

Question 51

Due to which of the following characteristics a news story is most likely to grab public interest?

A) Cultural resonance
B) Issue recognition
C) Trendiness
D) Proximity

Question 52

Proximity refers to:

A) a concept in public interest which alludes to events with a broad appeal within the market or population.
B) a concept in public recognition which alludes to how closet the issue being discussed is to you,your family or business.
C) a concept in public interest which alludes to the graphic interest held by an event.
D) a concept in public recognition which alludes to the fit of the topic to current fashion or public interest.

Question 53

Which of the following terms refers to a concept in public importance which alludes to the degree to which the issue is immediate in its impact?

A) Proximity
B) Currency
C) Power
D) Cultural resonance

Question 54

A web-based program that uses artificial intelligence techniques to automate tasks such as searches is called a ________.

A) hit rate
B) mat release
C) bot
D) funnel

Question 55

Trendiness refers to:

A) a concept in public interest which alludes to events with a broad appeal within the market or population.
B) a concept in public recognition which alludes to how close the issue being discussed is to you,your family or business.
C) a concept in public interest which alludes to the graphic interest held by an event.
D) a concept in public recognition which alludes to the fit of the topic to current fashion or public interest.

Question 56

Greg has a press release for his new product that he wants to broadcast on television.His press release has a good story and visuals.It also includes content that illustrates broad cultural themes.Which of the following is Greg most likely to generate through the press release?

A) Public recognition
B) Public interest
C) Public importance
D) Issue recognition

Question 57

The term for measures or metrics that identify the outcomes that are most important to the success of a business are known as _____.

A) key performance indicators
B) brand promise
C) issue recognition
D) impressions

Question 58

_____ is an electronic equivalent of word-of-mouth advertising.

A) Viral marketing
B) Ambush marketing
C) Sales promotion
D) Trendiness

Question 59

Due to which of the following characteristics a news story is most likely to get public recognition?

A) Trendiness
B) Cultural resonance
C) Power
D) Currency

Question 60

Due to which of the following characteristics a news story is most likely to get public importance?

A) Trendiness
B) Proximity
C) Currency
D) Cultural resonance

Question 61

Which of the following is used when selling more of the firm's product or services to existing customers?

A) Market expansion
B) Market penetration
C) Diversification
D) Vertical integration

Question 62

In personal selling,_____ means cleaning up the list to remove potential clients that are unable or unlikely to buy a business owner's product.

A) prospecting
B) prequalifying
C) polarizing
D) closing

Question 63

Which of the following is true of cognitive dissonance?

A) It is the consistency between experience and belief.
B) It happens frequently especially with more expensive items.
C) It almost always happens with purchases that are not considered risky.
D) It is a doubt that occurs before making a purchase.

Question 64

The steps in Blank and Dorf's "Get Customers" funnel are awareness,interest,consideration,and purchase.Here,consideration refers to:

A) the process of getting into the prospective customer's final list of brands of products or services they may purchase.
B) the process of prospective customers taking some action to learn more about the product or service you offer.
C) the process of getting your message out as much as you can to your target market.
D) the end of the initial promotional funnel.

Question 65

In personal selling,_____ means finding out about the clients before approaching them.

A) evaluation
B) closing
C) prospecting
D) preparation

Question 66

Which of the following is true of personal selling?

A) It involves activities used to establish and promote a favorable opinion by the media.
B) It does not allow you to find out the buyers' main concerns.
C) It involves entering into a joint venture with a competitor.
D) It allows a business owner to be flexible in his or her presentation.

Question 67

Serial entrepreneurs Steve Blank and Bob Dorf came up with a more inclusive approach than the standard marketing funnel.Which of the following is not one of the major goals of their new approach?

A) Grow customers
B) Get customers
C) Identify customers
D) Keep customers

Question 68

Closing a sale refers to:

A) asking for a referral from a prospective customer.
B) being turned down by a prospective customer.
C) delaying the decision to make a new product.
D) obtaining a commitment from the customer.

Question 69

_____ is a strategy whose goal is growth,based on selling in areas or to groups previously not served by the business.

A) Market penetration
B) Market expansion
C) Product expansion
D) Diversification

Question 70

While closing a sales call,when a sales person says "I'll just need your credit card for payment," he is using the sales closing technique of _____.

A) try-before-you-buy close
B) assumptive close
C) chances-are close
D) urgency close

Question 71

Putting together a list of prospective clients is called _____.

A) preparing
B) presenting
C) formulating
D) prospecting

Question 72

Which of the following is true of customer retention?

A) It focuses on increasing customers' cognitive dissonance.
B) It focuses on satisfying prospective customers to make a sale successful.
C) It handles problems that crop up after a sale.
D) The CRM aspect of customer retention is based on short-term monitoring of customers.

Question 73

In which of the following stages of personal selling does an entrepreneur collect background information before selling the actual product or service?

A) Prospect and evaluate
B) Prepare
C) Present
D) Close

Question 74

_____ is a strategy whose goal is growth,based on selling more of the firm's product or service to the existing customer base.

A) Market penetration
B) Product expansion
C) Market expansion
D) Diversification

Question 75

Product expansion is a strategy whose goal is growth,based on:

A) selling more of the firm's product or service to the existing customer base.
B) selling in areas or to groups previously not served by the business.
C) selling existing customers a product or service they have never bought before.
D) adding new products or services to the firm's existing collection of offerings.

Question 76

Doubt that occurs after a purchase has been made is called _____.

A) cognitive dissonance
B) customer vector
C) segmentation
D) trendiness

Question 77

Which of the following is the key to customer relationship management (CRM)?

A) Displaying accurate financial records in annual reports
B) Educating customers about a new product or service
C) The data on current or prospective customers
D) The press release and press kit

Question 78

Diversification is a strategy whose goal is growth,based on:

A) selling more of the firm's product or service to the existing customer base.
B) selling in areas or to groups previously not served by the business.
C) selling existing customers a product or service they have never bought before.
D) adding new products or services to the firm's existing collection of offerings.

Question 79

Which of the following is an advantage of personal selling?

A) It helps in easily establishing and promoting a favorable opinion by the media.
B) It helps business owners in generating finance for their business.
C) It allows business owners to find out the buyers' main concerns and address them.
D) It increases business owners' publicity.

Question 80

An inconsistency between experience and belief refers to:

A) value proposition.
B) segmentation.
C) trendiness.
D) cognitive dissonance.