Entrepreneurship Question Bank
Course Introduction
This course provides an in-depth exploration of the principles and practices of entrepreneurship, equipping students with the fundamental knowledge and skills needed to identify business opportunities, develop innovative ideas, and launch successful ventures. Through case studies, real-world examples, and hands-on projects, students will learn about ideation, market analysis, business model development, funding strategies, and the challenges of managing a new enterprise. Emphasis is placed on creativity, critical thinking, problem-solving, and the development of an entrepreneurial mindset, preparing students to navigate and thrive in dynamic and competitive business environments.
Recommended Textbook
Marketing Management Knowledge and Skills 11th Edition by J. Paul Peter Available Study Resources on Quizplus
Chapters
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Chapter 1: Strategic Planning and the Marketing Management Process
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66 Verified Questions
66 Flashcards
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Sample Questions
Q1) The purpose of the marketing concept is to rivet the attention of marketing managers primarily on serving broad classes of _____.
A) supplier needs
B) employee needs
C) management needs
D) customer needs
Answer: D
Q2) Since September 11,2001,the number of people attending church and looking to religion to provide solace has increased.As a result,Bible publishers have developed the Starting Point Study Bible,that explains what they are reading,and includes a dictionary of biblical terms.The changes in the _____ environment have led to the publication of the Starting Point Study Bible in this scenario.
A) social
B) competitive
C) cooperative
D) economic
Answer: A
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Page 3
Chapter 2: Marketing Research: Process and Systems for Decision Making
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) A marketing research study using a ______ involves discussions among a small number of consumers led by an interviewer and is designed to generate insights and ideas about products and brands.
A) survey
B) long interview
C) projective technique
D) focus group
Answer: D
Q2) In the research process,the _____ step involves obtaining and recording the maximal amount of useful information,subject to the constraints of time,money,and respondent privacy.
A) processing of data research
B) analysis of data research
C) performance of the research
D) preparation of the research report
Answer: C
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Chapter 3: Consumer Behavior
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) The _____ comprises one-third of the American population and these consumers want to make purchases that are cost-efficient,fashionable,and popular.
A) lower Americans
B) upper Americans
C) working class
D) middle class
Answer: D
Q2) It is important for marketers to devise communications that offer:
A) consistent messages about their products.
B) extremely detailed descriptions about product features.
C) covert messages for customers about their products.
D) messages that aim exclusively at the upper Americans.
Answer: A
Q3) Secondary reference groups include _____.
A) family
B) close friends
C) spouse and children
D) college associations
Answer: D
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Page 5
Chapter 4: Business, government, and Institutional Buying
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79 Verified Questions
79 Flashcards
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Sample Questions
Q1) Organizational buyers are engaging in sole sourcing because they are more concerned with _____ than buying only on the basis of price.
A) exclusive distribution
B) nonstore selling options
C) quality and timely deliveries
D) new task purchases
Q2) Marketing to producers and intermediaries is called _____.
A) business-to-business marketing
B) affiliate marketing
C) internal marketing
D) test marketing
Q3) In _____,individuals approach their occupational roles with a weak commitment to expected norms of behavior.
A) lethargic organizations
B) innovative firms
C) autocratic firms
D) adaptive firms
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Chapter 5: Market Segmentation
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79 Verified Questions
79 Flashcards
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Sample Questions
Q1) While churches are still places for traditional religious ceremonies and training,some churches are trying to reach new segments of the population by offering music-based services,youth-led services,and televised services.Churches are using positioning:
A) based on superiority to competitive products.
B) in terms of superior product users.
C) relative to the position of their competitors.
D) by use or application.
Q2) In which of the following situations is it appropriate for a firm to become a mass marketer?
A) The market is large and consists of several segments that are almost equal in size.
B) Heavy users make up such a large proportion of the sales volume that they are the only relevant target.
C) The largest segment is composed of light users, and hence, targeting them would yield the highest profits for the firm.
D) Potential consumers constitute such a small group that they don't form a meaningful segment.
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Chapter 6: Product and Brand Strategy
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88 Verified Questions
88 Flashcards
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Sample Questions
Q1) Which of the following observations about a product is correct?
A) The essential benefits that the buyer expects to receive from a product constitute the tangible product.
B) A particular product can be viewed as a tangible, extended, or generic product.
C) The generic product is defined as the tangible product along with all the services that accompany it.
D) The extended product is defined as the physical entity or service that is sold by the firm.
Q2) The Bedford Hotel is an industry leader.After Templeton Hotels measured its services against the Bedford,it instituted a customer service campaign called "proactive hospitality." Templeton managers examine monthly reports for problem areas and the Bedford model is used to determine ways to remove the problems.Which of the following methods is used by Templeton to identify improvement areas?
A) Test marketing
B) Benchmarking
C) Niche marketing
D) Market segmenting
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8
Chapter 7: New Product Planning and Development
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Which of the following is an example of a product development strategy?
A) A microprocessor manufacturer introduces a new microprocessor chip to replace the older, slower version.
B) McDuffy's fast food restaurant opens its first overseas restaurant.
C) A carpet manufacturer introduces an organic stain remover designed to remove even the worst spills.
D) The manufacturer of Nine Lives cat food adds a line of flea collars.
Q2) HealthPlus Company,a manufacturer of processed food products,recently introduced infant food under the brand name of Nutrababy.Which of the following new product categories does this product fall into?
A) New-to-the-world products
B) Additions to existing product lines
C) New-to-the-firm products
D) Product improvements
Q3) Which of the following is essential to the generation of new product ideas?
A) Market penetration strategies
B) Market development strategies
C) High investment in current products
D) Technology push research activities
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Page 9
Chapter 8: Integrated Marketing Communications
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Which of the following approaches of determining advertising spending views advertising as a function of sales,rather than sales as a function of advertising?
A) Per-unit expenditure
B) Rate-of-return
C) Competitive parity
D) The research approach
Q2) Sun Products markets Snug fabric softener.It uses the image of a soft bear named Snug in television and print ads for the fabric softener.The bear,which is used as a sales promotion device,also appears on T-shirts,and is extensively used on Sun Products' Web site.Sun Products is focusing on:
A) mass marketing and customer acquisition.
B) public relations exclusively to promote its product.
C) monitoring spending habits of customers.
D) presenting a consistency on brand messages.
Q3) Which of the following is an objective of sales promotion directed at resellers?
A) Encourage repeat or greater usage by current users
B) Stabilize a fluctuating sales pattern
C) Bring more customers into retail stores
D) Obtain more and better shelf space
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Page 10
Chapter 9: Personal Selling, relationship Building, and Sales Management
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79 Verified Questions
79 Flashcards
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Sample Questions
Q1) The owner of a bookstore in a college town notices that demand for certain textbooks peak during certain times of the year.She assumes that these peaks coincide with the beginning of semesters when professors recommend these books to the students.She decides to estimate future sales of these textbooks by measuring the interconnection between sales and announcement of courses that recommend them.Which of the following methods of sales forecasting is she using?
A) Jury of executive opinion method
B) Dependence method
C) Time-series analysis
D) Correlation analysis
Q2) When a sales prospect raises an objection,the salesperson should:
A) know that the prospect is not ready to buy.
B) challenge the respondent to better address the objection.
C) refrain from overwhelming the prospect with too much information.
D) try and attempt to secure another appointment.
Q3) After all objections have been resolved,the salesperson must ask for _____.
A) an action plan
B) inputs
C) commitment
D) referrals
Page 11
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Chapter 10: Distribution Strategy
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85 Verified Questions
85 Flashcards
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Sample Questions
Q1) Sears obtains over 50 percent of the goods it sells in its retail stores from companies that it partially or wholly owns.Sears participates in a _____ vertical marketing system.
A) retail cooperative
B) contractual
C) selective
D) corporate
Q2) Which of the following companies is best suited for using electronic exchanges to market products that customers would ordinarily want to examine before purchase?
A) A small company selling dairy products and specialty candies.
B) A small entrepreneurial venture like a bakery.
C) A large perfume manufacturer with low brand equity.
D) A large company selling tablet computers from market leaders.
Q3) Which of the following is a store-based method of retailing?
A) Television home shopping
B) Vending machines
C) Electronic exchanges
D) Category killers
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Page 12
Chapter 11: Pricing Strategy
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) Which of the following factors influencing pricing decisions pertains to the expected consumption rate of potential buyers,location of potential buyers,and position of potential buyers?
A) Psychological factors
B) Environmental factors
C) Demographic factors
D) Price elasticity
Q2) _____ allowances are payments to retailers to get them to stock items on their shelves which in turn can increase sales but also add marketing cost to the manufacturer and affect profits.
A) Quantity
B) Consumer
C) Slotting
D) Promotional
Q3) Which of the following factors influencing pricing decisions pertains to demand influences for a product?
A) Breakeven point
B) Target pricing
C) Cost-plus pricing
D) Price elasticity
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Chapter 12: The Marketing of Services
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93 Verified Questions
93 Flashcards
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Sample Questions
Q1) Blueberry Inn considered as many as 30 candidates for each housekeeping or front-desk position.On which of the following critical components of internal marketing was Blueberry Inn focusing on?
A) An emphasis on teaching employees to have good attitudes.
B) A clear, concrete message conveying a particular service strategy.
C) A careful selection process in hiring frontline employees.
D) An energetic follow-through process.
Q2) Which of the following is true of inseparable services?
A) Inseparable services can be distributed only by third-parties.
B) Service quality of inseparable services is completely standardized due to the ability to completely mechanize the service encounter.
C) Inseparable services cannot be produced and marketed simultaneously.
D) The main concern of the marketer of inseparable services is usually the creation of time and place utility.
Q3) Service products are often difficult to identify,since they:
A) can be sold in the sense of ownership transfer.
B) are bought and consumed at the same time.
C) are composed of tangible elements and cannot be easily transferred.
D) cannot be exchanged directly from producer to user.
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Page 14
Chapter 13: Global Marketing
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) _____ can be used as a strategy for bypassing restrictions on advertising enforced by some foreign governments.
A) Global advertising agencies
B) Telemarketing
C) Sales promotions
D) Strategic alliances
Q2) Alpha Partners Ltd.,an international auditing firm audits accounts of various multinational corporations.The firm specializes in conducting audits for the hospitality sector by organizing global performance reviews.The ability of Alpha Partners Ltd.to conduct global performance reviews is associated with which of the following internal factors?
A) Structure
B) Culture
C) People
D) Management processes
Q3) Franchising is similar to licensing but tends to involve:
A) longer-term commitments.
B) sharing management with one or more collaborating foreign firms.
C) manufacturing firms rather than service firms.
D) industries that call for large investments.
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Chapter 14: Appendix: Portfolio Models
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14 Verified Questions
14 Flashcards
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Sample Questions
Q1) On what assumption is the BCG Portfolio Model based?
A) Profitability and cash flow will be closely related to sales volume.
B) ROI will be directly related to sales volume.
C) Cash flow is equal to investment.
D) Investment + Cash flow = Profitability
Q2) According to the General Electric Portfolio Model,what should an organization do with its SBUs that fall into the yellow zone?
A) Hold share
B) Harvest
C) Divert
D) Divest
Q3) According to the General Electric Portfolio Model,what should an organization do with its SBUs that fall into the red zone?
A) Hold share and build share
B) Harvest or divest
C) Produce and divest
D) Build share and harvest
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