Question 1

Market segmentation is

Accepted Answer

A)   the process of categorizing products into different segments
B)   the process of identifying a specific set of characteristics that differentiate one group of consumers from the rest
C)   the process of segmenting the sales force
D)   heavily psychographic in natureE) B) and C)
F) All of the above

Question 2

Of the following, which is not associated with entrepreneurial tactics in market research?

Accepted Answer

A)   guerrilla marketing
B)   lead user research
C)   in-person interviews
D)   blog monitoringE) All of the above
F) B) and C)

Question 3

Which of the following influences the choice of marketing philosophy?

Accepted Answer

A)   competitive pressure
B)   economic outlook
C)   Dow Jones Industrial averages
D)   cost of living indexE) C) and D)
F) B) and C)

Question 4

Of the following, which does the textbook identify as critical to the marketing planning process?

Accepted Answer

A)   market niche
B)   market segmentation
C)   marketing research
D)   marketing myopiaE) A) and B)
F) A) and D)

Question 5

All of the following factors affect pricing strategies except:

Accepted Answer

A)   degree of competitive pressure
B)   government mandates
C)   changes in demand
D)   distribution costsE) A) and B)
F) A) and C)

Question 6

A consumer driven marketing philosophy often relies on direct selling.

Accepted Answer

A) True 
 B)False

Question 7

__________ is the use of portable wireless devices to connect to the Internet.

Accepted Answer

A)   Entrepreneurial marketing
B)   Networking
C)   Mobile computing
D)   Social media marketingE) A) and C)
F) A) and B)

Question 8

The role of the customer in social media marketing is as an external source of intelligence and feedback.

Accepted Answer

A) True 
 B)False

Question 9

Babies and career are indicative of the priorities that shape the buying decisions of persons in the nestbuilding stage of the family life cycle.

Accepted Answer

A) True 
 B)False

Question 10

When developing a survey, you should consider

Accepted Answer

A)   including questions only pertaining to the study.
B)   ask leading and biased questions.
C)   giving concise but incomplete instructions.
D)   the personality of the respondents.E) B) and C)
F) A) and D)

Question 11

What three important aspects of social media marketing should entrepreneurs be aware of?

Accepted Answer

1. Create something of value with an eve...

Question 12

Marketing information that has already been compiled is known as secondary data.

Accepted Answer

A) True 
 B)False

Question 13

The sales-driven philosophy

Accepted Answer

A)   is based on the belief "produce efficiently and worry about sales later"
B)   relies on research to discover consumer preferences before production begins
C)   focuses on personal selling and advertising to persuade customers to buy the company's output
D)   is strictly cost-drivenE) A) and D)
F) B) and C)

Question 14

Pricing for the product life cycle is generally ineffective for luxury goods.

Accepted Answer

A) True 
 B)False

Question 15

Mobile social media applications can be differentiated based on location-sensitivity as well as on time-sensitivity.

Accepted Answer

A) True 
 B)False

Question 16

The key to marketing analysis is

Accepted Answer

A)   secondary data
B)   psychographic information
C)   marketing research
D)   marketing response dataE) B) and D)
F) All of the above

Question 17

A market is

Accepted Answer

A)   a group of consumers who have purchasing power and unsatisfied needs
B)   a way of gaining consumer data
C)   a segment of the economy
D)   a group of known purchasersE) A) and B)
F) A) and C)

Question 18

Which of the following is not a key factor affecting a marketing information system?

Accepted Answer

A)   size of the system
B)   usefulness or understandability of data
C)   timeliness of the reporting system
D)   relevancy of dataE) B) and C)
F) A) and C)

Question 19

All of the following are identified as stages in consumer buying behavior, according to the family life cycle, except:

Accepted Answer

A)   full nest
B)   courtship
C)   specialty occasion
D)   sole survivorE) B) and C)
F) A) and D)

Question 20

The 4Ps of marketing include all the following except:

Accepted Answer

A)   principle
B)   product
C)   price
D)   promotionE) B) and C)
F) A) and D)

Exam 10: Marketing Challenges for Entrepreneurial Ventures

A market is

Correct AnswerverifiedShow Answer

When developing a survey, you should consider

Correct AnswerverifiedShow Answer

Of the following, which is not associated with entrepreneurial tactics in market research?

Correct AnswerverifiedShow Answer

Which of the following is not a key factor affecting a marketing information system?

Correct AnswerverifiedShow Answer

Pricing for the product life cycle is generally ineffective for luxury goods.

Correct AnswerverifiedShow Answer

Mobile social media applications can be differentiated based on location-sensitivity as well as on time-sensitivity.

Correct AnswerverifiedShow Answer

The 4Ps of marketing include all the following except:

Correct AnswerverifiedShow Answer

All of the following are identified as stages in consumer buying behavior, according to the family life cycle, except:

Correct AnswerverifiedShow Answer

Market segmentation is

Correct AnswerverifiedShow Answer

A consumer driven marketing philosophy often relies on direct selling.

Correct AnswerverifiedShow Answer

The key to marketing analysis is

Correct AnswerverifiedShow Answer

Babies and career are indicative of the priorities that shape the buying decisions of persons in the nestbuilding stage of the family life cycle.

Correct AnswerverifiedShow Answer

__________ is the use of portable wireless devices to connect to the Internet.

Correct AnswerverifiedShow Answer

Which of the following influences the choice of marketing philosophy?

Correct AnswerverifiedShow Answer

What three important aspects of social media marketing should entrepreneurs be aware of?

Correct Answerverified1. Create something of value with an eve...View AnswerShow Answer

Of the following, which does the textbook identify as critical to the marketing planning process?

Correct AnswerverifiedShow Answer

All of the following factors affect pricing strategies except:

Correct AnswerverifiedShow Answer

The sales-driven philosophy

Correct AnswerverifiedShow Answer

Marketing information that has already been compiled is known as secondary data.

Correct AnswerverifiedShow Answer

The role of the customer in social media marketing is as an external source of intelligence and feedback.

Correct AnswerverifiedShow Answer

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1. Create something of value with an eve...
View Answer

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