Question 1

&#34;Innovators&#34; is used in the text to describe&#10;A)creative producers of new products&#10;B)new industries&#10;C)adaptations of existing products&#10;D)first customers

Accepted Answer

D

Question 2

Guerilla marketing refers to&#10;A)advertising that attacks competitors&#10;B)creative,catchy and low cost promotion&#10;C)secret marketing initiatives&#10;D)entrepreneurs who are hands on marketers

Accepted Answer

Guerilla marketing refers to creative, catchy and low cost promotion techniques that focus on getting maximum results with minimum resources. It often involves unconventional or unexpected tactics to grab the attention of consumers. It is an effective strategy for small businesses or startups with limited budgets.

Question 3

Traditional promotion methods&#10;A)are sometimes not feasible for start ups&#10;B)are generally no longer used&#10;C)are usually used by small enterprises&#10;D)usually are not well received by the buying public

Accepted Answer

Traditional promotion methods such as advertising on TV, radio, or billboards can be expensive for start-ups who have limited budgets. As a result, they may need to find alternative methods to promote their products or services.

Question 4

Gamification&#10;A)refers to marketing in the gaming industry&#10;B)is the set of relationships between a business and its customers&#10;C)uses game thinking to affect behavior&#10;D)is a process allowing consumers to compete for product

Accepted Answer

Gamification is the process of using game thinking and mechanics to engage people and affect their behavior. It is often used in marketing to encourage customers to interact with a brand and its products, but it can be applied in various areas such as education, healthcare, or workplace training. Gamification does not necessarily involve competition for a product or relate to the gaming industry exclusively.

Question 5

Faster adoption rates can result from&#10;A)products that operate on both electric and battery power&#10;B)better delivery services&#10;C)good communication of a product's significant advantages&#10;D)good economic times

Accepted Answer

Good communication of a product's significant advantages can help potential customers understand the benefits of the product, leading to faster adoption rates. This can be achieved through marketing, advertising and clear product messaging.

Question 6

Distribution channel refers to&#10;A)the route used by a delivery service&#10;B)the path from producer to consumer&#10;C)the movement of raw materials through the production process&#10;D)the markets in which a company advertises it product or service

Accepted Answer

Distribution channel refers to the path from producer to consumer, which includes intermediaries such as wholesalers, retailers, and distributors. It involves the movement of goods or services from the point of production to the point of consumption.

Question 7

Advertising is&#10;A)strong in developing awareness of a product&#10;B)weak in developing interest in a product&#10;C)weak in increasing desire to purchase a product&#10;D)medium in achieving product purchase

Accepted Answer

Advertising is a strong tool in developing awareness of a product. It can help to introduce a new product or remind consumers of an existing product. However, it may not always be effective in developing interest, increasing desire or achieving product purchase as those factors may depend on various other factors such as price, product features, availability, etc.

Question 8

a key element in a marketing plan is&#10;A)reflecting what the entrepreneur feels is right&#10;B)establishing the correct marketing mix&#10;C)using the entrepreneur's personal strengths&#10;D)emphasizing the negative aspects of the competition

Accepted Answer

The correct marketing mix, which includes product, price, promotion, and place/distribution, is essential for a successful marketing plan. It helps ensure that the right product is offered at the right price, in the right place, and with the right promotional effort to reach the intended target market. Reflecting one's personal opinions or strengths may not always align with the needs and preferences of the target market, and emphasizing negative aspects of the competition may not be an effective strategy.

Question 9

Tradeshows&#10;A)don't address decision makers&#10;B)are most appropriate for large businesses&#10;C)are expensive&#10;D)are cost effective

Accepted Answer

The answer of Tradeshows&#10;A)don't address decision makers&#10;B)are most appropriate for...

Question 10

Most markets today tend to be&#10;A)price dependent&#10;B)price aware&#10;C)product focused&#10;D)price sensitive

Accepted Answer

Most markets today are price sensitive, meaning that consumers pay close attention to the price of a product and are willing to switch brands or products if they find a better deal. This is due to factors such as increased competition, access to information, and changes in consumer behavior. Price sensitivity has become a major factor in pricing strategies for businesses, as they must find a balance between offering competitive prices and maintaining profitability.

Question 11

Value-based pricing depends on&#10;A)undercutting the price of competitor products&#10;B)associating product and benefits&#10;C)having loyal customers&#10;D)the cash flow needs of the business

Accepted Answer

The answer of Value-based pricing depends on&#10;A)undercutting the price of...

Question 12

Promotional themes should&#10;A)be combined to be more effective&#10;B)reflect responsiveness to target needs&#10;C)provide lots of information for the consumer to consider&#10;D)focus on the technical strengths of the product

Accepted Answer

The answer of Promotional themes should&#10;A)be combined to be more...

Question 13

Creating an easy to use product&#10;A)is a strategy for winning industry competitions&#10;B)doesn't overcome unreasonable pricing&#10;C)is a way to create value for customers&#10;D)provides feelings of financial accomplishment

Accepted Answer

The answer of Creating an easy to use product&#10;A)is a...

Question 14

&#34;Build a better mousetrap&#34; refers to&#10;A)product design challenges&#10;B)a pricing strategy&#10;C)marketing to demographically mixed markets&#10;D)attracting significant numbers of customers

Accepted Answer

The answer of &#34;Build a better mousetrap&#34; refers to&#10;A)product design...

Question 15

A disadvantage of radio advertising is&#10;A)there is short exposure&#10;B)the reach is too wide&#10;C)it is inexpensive&#10;D)it caters to a target audience

Accepted Answer

The answer of A disadvantage of radio advertising is&#10;A)there is...

Question 16

The percentage of sales method of setting the promotional budget&#10;A)usually results in a &#34;good&#34; number&#10;B)uses a percentage that makes the entrepreneur feel comfortable&#10;C)is not often used&#10;D)is theoretically weak

Accepted Answer

The answer of The percentage of sales method of setting...

Question 17

Three general bases used for pricing in a small business are&#10;A)cost,demand,and competition&#10;B)packaging,location,and demand&#10;C)ease of use,special features,and demographics&#10;D)supply chain,cost,and hours of operation

Accepted Answer

The answer of Three general bases used for pricing in...

Question 18

The common theme of all forms of promotion is&#10;A)they are all successful to some extent&#10;B)they are fun&#10;C)they all cost money&#10;D)they all result in generating sales dollars

Accepted Answer

The answer of The common theme of all forms of...

Question 19

Co-op advertising&#10;A)is advertising done by a co-op form of business&#10;B)is advertising based on competitors agreeing to a common theme&#10;C)occurs when a manufacturer and a retailer share advertising costs&#10;D)reflects the goodwill of market leaders by not criticizing each other's products

Accepted Answer

The answer of Co-op advertising&#10;A)is advertising done by a co-op...

Question 20

Marketing activities&#10;A)are sometimes overlooked by entrepreneurs&#10;B)are often overlooked by entrepreneurs&#10;C)are never overlooked by entrepreneurs&#10;D)are always overlooked by entrepreneurs

Accepted Answer

The answer of Marketing activities&#10;A)are sometimes overlooked by entrepreneurs&#10;B)are often...

Question 21

Foursquare&#10;A)is a mobile driven social networking process&#10;B)is the description of a shared promotional campaign&#10;C)means that advertising content is legitimate&#10;D)describes a set of key objectives in a marketing campaign

Accepted Answer

The answer of Foursquare&#10;A)is a mobile driven social networking process&#10;B)is...

Deck 8: Managing the Marketing Mix