Entrepreneurship Exam Preparation Guide
Course Introduction
Entrepreneurship is a dynamic course that explores the process of identifying opportunities, developing innovative business ideas, and transforming them into sustainable ventures. Students will learn essential skills such as market analysis, business planning, financial management, and resource acquisition, while examining the challenges and rewards of starting and managing new enterprises. Through case studies, interactive projects, and real-world applications, this course encourages creativity, problem-solving, and strategic decision-making, equipping aspiring entrepreneurs with the tools they need to succeed in today's competitive business environment.
Recommended Textbook
Marketing An Introduction 6th Canadian Edition by Gary Armstrong
Available Study Resources on Quizplus
16 Chapters
2482 Verified Questions
2482 Flashcards
Source URL: https://quizplus.com/study-set/1478
Page 2
Chapter 1: Marketing: Creating and Capturing Customer Value
Available Study Resources on Quizplus for this Chatper
164 Verified Questions
164 Flashcards
Source URL: https://quizplus.com/quiz/29375
Sample Questions
Q1) Pete Sanchez, a recent graduate of business school, has a different approach than his marketing manager, who believes in keeping customers at arm's length and using television advertising. Pete knows that today few successful firms still practice this type of true ________ and are instead turning to selective relationship management.
A)club marketing
B)frequency marketing
C)mass marketing
D)customer satisfaction
E)marketing segmenting
Answer: C
Q2) Which of the following strategies would a company most likely use to increase customer satisfaction?
A)decreasing variety of services offered
B)lengthening the supply chain
C)lowering prices or increasing its services
D)"firing" unprofitable customers
E)limiting experiences with a brand
Answer: C
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Company and Marketing Strategy: Partnering to
Build Customer Relationships
Available Study Resources on Quizplus for this Chatper
163 Verified Questions
163 Flashcards
Source URL: https://quizplus.com/quiz/29383
Sample Questions
Q1) At Google, "we help you organize the world's information and make it universally accessible," is a product-oriented mission.
A)True
B)False
Answer: False
Q2) Which of the following is an example of a product-oriented mission statement?
A)"At Home Depot, we empower consumers to achieve the homes of their dreams."
B)"At Canada's Wonderland theme park, we create fantasies-a place where dreams come true."
C)"At Nike, we bring innovation and inspiration to every athlete in the world."
D)"At Revlon, we make high quality cosmetics reasonably priced.
E)"At CP Hotels, we rent rooms."
Answer: E
Q3) How might a marketer of pens alter the "product" portion of the marketing mix when targeting female college students versus male college students?
Answer: The marketer may use feminine colors and a spiral-flower stripe, for example, when marketing its pens to the females; when targeting males, the marketer might use more neutral colors and wider barrel.
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Sustainable Marketing, Social Responsibility and Ethics
Available Study Resources on Quizplus for this Chatper
165 Verified Questions
165 Flashcards
Source URL: https://quizplus.com/quiz/29384
Sample Questions
Q1) The Canadian Marketing Association has created a mission statement that includes which of the following?
A)responsible growth of marketing
B)fairness
C)citizenship
D)competitiveness
E)responsibility
Answer: A
Q2) Albatross Enterprises was accused of deceptive pricing. Which of the following explains what might have happened?
A)Albatross refused to advertise sale prices in the local paper.
B)Albatross lured customers to the store for a bargain that is out of stock.
C)Albatross advertised a large price reduction from a phony high retail list price.
D)Albatross misrepresented a product's features in an ad.
E)any of the above
Answer: C
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Analyzing the Marketing Environment
Available Study Resources on Quizplus for this Chatper
152 Verified Questions
152 Flashcards
Source URL: https://quizplus.com/quiz/29385
Sample Questions
Q1) Which of the following is considered part of a company's marketing intermediaries?
A)stockholders
B)government officials who may regulate the company's industry
C)media groups that may cover stories on the company
D)marketing services agencies
E)unions
Q2) What are the major trends in today's natural environment? How do these trends affect companies?
Q3) Given the characteristics of Gen Xers, on which categories would a typical Gen Xer likely spend more than his Boomer and Millennial counterparts?
A)financial services
B)medicine
C)travel
D)cars
E)computers
Q4) Who are the major players in a company's microenvironment? What roles do they play?
Q5) Differentiate between the basic marketing intermediaries.
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Managing Marketing Information to Gain Customer Insights
Available Study Resources on Quizplus for this Chatper
165 Verified Questions
165 Flashcards
Source URL: https://quizplus.com/quiz/29386
Sample Questions
Q1) A poor method for conducting survey research is ________.
A)the Web
B)the mail
C)the telephone
D)observation
E)person-to-person interactions
Q2) A good MIS balances the information users would ________ against what they really ________ and what is ________.
A)need; like; feasible
B)like; can afford; needed
C)like to have; need; feasible to offer
D)need; can afford; useful
E)use; have to use; available
Q3) You are trying to determine whether retired people drink more coffee at your restaurant during lunch than they do during dinner. Is observation research effective in this scenario?
Q4) You have decided to run for a local political office. You want to hand-deliver campaign materials in person to the homes of voters. Explain how marketing intelligence plays a role in this scenario.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 6: Understanding Consumer and Business Buyer
Behaviour
Available Study Resources on Quizplus for this Chatper
168 Verified Questions
168 Flashcards
Source URL: https://quizplus.com/quiz/29387
Sample Questions
Q1) Younger families have more disposable income than than more mature families. They are the ideal market for travel, restaurants and sport cars.
A)True
B)False
Q2) In what way might a marketer rely on opinion leaders?
Q3) Family is one of the ________ factors that influence consumer behaviour.
A)cultural
B)social
C)personal
D)psychological
E)business
Q4) Personicx life-stage segmentation is useful for ________.
A)creating targeted, personalized campaigns
B)describing various age groups
C)understanding various social classes
D)identifying various social groups
E)describing a person's economic situation
Q5) Why is it important for marketers to understand the changing roles and influence of family members? How are roles and social status related to product choice?
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Segmentation, Targeting, and Positioning
Available Study Resources on Quizplus for this Chatper
170 Verified Questions
170 Flashcards
Source URL: https://quizplus.com/quiz/29388
Sample Questions
Q1) Ad man Rosser Reeves believes that firms should develop a USP for each brand and stick to it. What does USP stand for?
A)unique selling product
B)unique services practice
C)unique sales pitch
D)unique selling proposition
E)universally strategic practice
Q2) In evaluating different market segments, a firm must look at three factors: segment size and growth, segment structural attractiveness, and company objectives and resources.
A)True
B)False
Q3) ByWay Ventures chose a differentiated marketing strategy. The company had to weigh ________ against ________ when selecting this strategy.
A)extra research; costs
B)sales analysis; sales
C)increased sales; increased costs
D)geographic segmentation; demographic segmentation
E)attitudes; perceptions
To view all questions and flashcards with answers, click on the resource link above.
Page 9
Chapter 8: Developing and Managing Products and Services
Available Study Resources on Quizplus for this Chatper
192 Verified Questions
192 Flashcards
Source URL: https://quizplus.com/quiz/29389
Sample Questions
Q1) You have an upset stomach. Your spouse rushes to the corner convenience store for a bottle of Pepto-Bismol. This product is a(n)________ product.
A)unsought
B)convenience
C)augmented
D)shopping
E)specialty
Q2) According to the authors, when does a company typically invest in test marketing?
A)before the full product introduction
B)at idea generation time
C)before the product concept
D)after meeting with a stockholder
E)after a logistics discussion with suppliers
Q3) GreenTree Lawn and Garden Products is engaged in a review of the sales, costs, and profit projections for some new products to find out whether they satisfy the company's objectives. This activity is called business product development.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Brand Strategy and Management
Available Study Resources on Quizplus for this Chatper
136 Verified Questions
136 Flashcards
Source URL: https://quizplus.com/quiz/29390
Sample Questions
Q1) Which of the following is a way by which marketers can position their brands in target customers' minds?
A)interactive marketing
B)internal marketing
C)product attributes
D)strong beliefs and values
E)added service
Q2) The ________ is the sum total of all the attributes of a brand, and the emotions it inspires in the minds of consumers.
A)brand equity
B)brand valuation
C)brand touchpoints
D)brand image
E)brand personality
Q3) What must a brand manager do to maintain a brand?
Q4) Explain which is better: national or private brands?
Q5) A brand name should translate easily into foreign languages.
A)True
B)False
Q6) Advocacy starts close to home. Explain.
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Pricing: Understanding and Capturing
Customer Value
Available Study Resources on Quizplus for this Chatper
170 Verified Questions
170 Flashcards
Source URL: https://quizplus.com/quiz/29376
Sample Questions
Q1) Would quantity discounts be possible for Quills to offer? Why?
Q2) Under ________, the market consists of a few sellers who are highly sensitive to each other's pricing and marketing strategies.
A)pure competition
B)monopolistic competition
C)oligopolistic competition
D)a pure monopoly
E)capitalism
Q3) Compare the practices of price-fixing and predatory pricing, explaining why each is prohibited by law.
Q4) When there is price competition, many companies adopt ________ rather than cutting prices to match competitors.
A)pricing power
B)value-added pricing strategies
C)fixed costs
D)price elasticity
E)image pricing
Q5) If Quills decided to introduce its products internationally, what factors may cause a change in price?
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Marketing Channels
Available Study Resources on Quizplus for this Chatper
125 Verified Questions
125 Flashcards
Source URL: https://quizplus.com/quiz/29377
Sample Questions
Q1) What is a contractual vertical marketing system? Give an example of a type of business that works as a contractual VMS.
Q2) Disintermediation has occurred when an online marketer takes business away from traditional brick-and-mortar retailers.
A)True
B)False
Q3) Under the strategy of exclusive distribution, a seller allows only certain retail outlets to carry its products.
A)True
B)False
Q4) Which of the following is true of a direct marketing channel?
A)It increases the number of channel transactions.
B)It enables retailers to reach many customers.
C)It does not use any intermediaries.
D)It gives limited distribution control to producers.
E)It creates a complex distribution channel.
Q5) Explain why "value delivery network" is a more relevant expression to use than the terms supply chain and demand chain.
Q6) What types of products are selectively distributed?
Page 13
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Retailing and Wholesaling
Available Study Resources on Quizplus for this Chatper
107 Verified Questions
107 Flashcards
Source URL: https://quizplus.com/quiz/29378
Sample Questions
Q1) Crunch and Munch is the country's favorite fast-food vendor of fried chicken. Over the years, the company has diversified into providing a larger variety of snacks like hot dogs, burritos, and burgers, but consumers still consider it the best seller of fried chicken. Many parties have approached Crunch and Munch with offers to buy the company, but Crunch and Munch continues to operate through its stores and franchise outlets. What is franchising? Why would franchising be a good contractual system for Crunch and Munch?
Q2) Casey's is a large supermarket that practices everyday low pricing. Therefore, consumers should expect few discounts or sales if shopping at Casey's regularly.
A)True
B)False
Q3) What is the difference between corporate chains, voluntary chains, and retailer cooperatives? How are such retail organizations different from franchise organizations?
Q4) The retailer's product assortment should be distinguishable and also match target shoppers' expectations.
A)True
B)False
Q5) Describe the three different types of wholesalers.
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Communicating Customer Value: Advertising and Public Relations
Available Study Resources on Quizplus for this Chatper
169 Verified Questions
169 Flashcards
Source URL: https://quizplus.com/quiz/29379
Sample Questions
Q1) The most logical budget-setting method is the ________ method because it is based on spending necessary to accomplish specific promotion goals.
A)percentage-of-sales
B)affordable
C)competitive-parity
D)objective-and-task
E)exponential smoothing
Q2) Apple recently ran ads featuring real people who had switched from Microsoft Windows-based PCs to Macs. When companies use people, actors, or sports celebrities as product endorsers, what kind of execution style is being used?
A)musical
B)testimonial evidence
C)scientific evidence
D)lifestyle
E)fantasy
Q3) When does a marketer use informative ads?
Q4) What does reach tell a marketer?
Q5) When does a marketer use reminder ads?
Q6) Name and describe the four major steps in media selection.
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Personal Selling and Sales Promotion
Available Study Resources on Quizplus for this Chatper
169 Verified Questions
169 Flashcards
Source URL: https://quizplus.com/quiz/29380
Sample Questions
Q1) Identify the seven steps in the selling process. What is often the most difficult step for most salespeople? Why?
Q2) The growth of product management has contributed to the increasing adoption of customer sales force structures.
A)True
B)False
Q3) In this step of the sales process, salespeople can now take advantage of technologies such as DVDs, handheld computers, interactive white boards, and laptop computers to show customers images that support the salesperson's verbal message.
A)prospecting
B)preapproach
C)presentation and demonstration
D)closing
E)follow-up
Q4) Describe the ideal organizational climate for Reliable Tool.
Q5) Why is it crucial to listen to the customer during the approach step of the sales process?
Q6) Describe several ways in which management can evaluate sales force performance.
Q7) Why does a salesperson set call objectives?
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 15: Direct, Online, Social Media, and Mobile Marketing
Available Study Resources on Quizplus for this Chatper
158 Verified Questions
158 Flashcards
Source URL: https://quizplus.com/quiz/29381
Sample Questions
Q1) Using ________ telephone marketing, marketers sell directly to consumers.
A)inbound
B)outbound
C)direct-response
D)opt-out
E)business-to-business
Q2) For inbound telephone marketing, the company provides a toll-free phone number so it can receive orders solicited by television and print ads, direct mail, and catalogs.
A)True
B)False
Q3) A marketing website interacts with consumers to move them closer to a direct purchase.
A)True
B)False
Q4) In your opinion, what is the most critical element The Treble Clef should include in the website?
Q5) How could spam harm The Treble Clef?
Q6) Explain the major benefits of direct marketing for both customers and sellers.
17
Q7) Provide an example of how a marketer uses kiosk marketing.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 16: The Global Marketplace
Available Study Resources on Quizplus for this Chatper
109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/29382
Sample Questions
Q1) Global companies recruit management from many countries, buy components and supplies where they cost the least, and invest where the expected returns are greatest.
A)True
B)False
Q2) Differentiate between industrializing economies and industrial economies. Give a few examples of each.
Q3) A subsistence economy is one in which ________.
A)much of the revenue comes from exporting one or more natural resources
B)fast growth in manufacturing results in overall economic growth
C)a majority of the produced outputs is exported
D)manufactured goods form a majority of the exports
E)a vast majority of people engage in simple agriculture
Q4) Explain with examples how the political-legal environment of a country affects a global firm.
Q5) Channels of distribution within countries are similar across nations.
A)True
B)False
Q6) Explain the whole-channel view of the distribution process.
Q7) What are the factors Alexandreina needs to consider before going global?
Page 18
To view all questions and flashcards with answers, click on the resource link above.