Marketing for Entrepreneurs Question
Bank
Course Introduction
Marketing for Entrepreneurs explores the unique challenges and opportunities that entrepreneurs face when developing and executing marketing strategies for new ventures. This course covers fundamental marketing concepts such as market research, customer segmentation, brand development, pricing, and digital marketing through the lens of entrepreneurial innovation and resource constraints. Students will learn how to identify target markets, craft compelling value propositions, and leverage cost-effective marketing tools to build brand awareness and drive customer acquisition in startup environments. Practical case studies, hands-on projects, and real-world applications provide actionable insights for launching and growing a successful business.
Recommended Textbook
Contemporary Marketing 17th Edition by
Louis E. Boone
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Page 2
Chapter 1: Marketing: the Art and Science of Satisfying Customers
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Q1) Compared to transaction marketing,relationship marketing relies more heavily on information technologies.
A)True
B)False
Answer: True
Q2) As an official sponsor of the Olympics,The Coca-Cola Company engages in _____ marketing.
A)place
B)event
C)person
D)organization
Answer: B
Q3) An exchange process is an activity in which two or more parties give something of value to each other to satisfy perceived needs.
A)True
B)False
Answer: True
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Page 3
Chapter 2: Strategic Planning in Contemporary Marketing
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Sample Questions
Q1) Jose is the social media manager for a children's museum and is making decisions about the best mix of social media tools to utilize in order to achieve the objective of increasing the number of family memberships by 10% during the year.Jose likes to use Twitter,Instagram,Facebook and Pinterest to reach the museum's desired target market but he spends most of his time developing the appropriate content and determining the frequency of posts.Which term best describes Jose's activity related to determining the use of social media?
A)tactical planning
B)media scheduling
C)strategic planning
D)operations planning
Answer: A
Q2) A company can modify a strategy when its actual performance is not in line with expected results by:
A)redefining the firm's mission.
B)focusing exclusively on long-range strategic issues.
C)putting the marketing strategy into action and monitoring performance.
D)interpreting the mission, vision, and values of the company differently.
Answer: C
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Page 4
Chapter 3: The Marketing Environment, ethics, and Social Responsibility
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Q1) Major oil companies,such as ExxonMobil and Chevron,often donate large amounts of money toward political campaigns in an attempt to influence government policy in their favor.This is an example of environmental management.
A)True
B)False
Answer: True
Q2) News reports from Zimbabwe indicate that a small pack of locally produced coffee beans costs approximately 1 billion Zimbabwean dollars,an amount that would have bought 60 new cars less than ten years ago in the same country.It can be surmised that Zimbabwe is experiencing extremely high levels of _____ which has spiraled out of control in the past ten years.
A)growth
B)stagflation
C)deflation
D)inflation
Answer: D
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Page 5
Chapter 4: Social Media: Living in the Connected World
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Sample Questions
Q1) Every social network has its own search engine,which allows users to search for topics that interest them.
A)True
B)False
Q2) Which of the following is true with regard to managing a social media marketing campaign?
A)It does not require a flexible approach.
B)It does not require familiarity with, or knowledge about the company's brand.
C)It requires knowledge of the benefits and drawbacks of the different social media platforms.
D)It is damaging for a firm involved in managing a potential social media crisis to be transparent.
Q3) A person who manages external engagement with customers in social media channels is called a social media developer.
A)True
B)False
Q4) How do companies measure the success and efficiency of their social media marketing plan?
Q5) What are the different rules of engagement in social media marketing?
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Chapter 5: E-Business: Managing the Customer Experience
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Sample Questions
Q1) Travel Time is an online travel site that assists customers in booking their holidays.They make advance bookings for the customers,they also notify them about a reduction in air fares immediately so to that it can offer the lowest fare to the customers.It also helps the customers to check the status of their booking online.This type of marketing strategy employed by Travel Time is an example of:
A)right-time marketing.
B)integrated marketing.
C)search marketing.
D)real time marketing.
Q2) A(n)_____ is an online journal for an individual or organization.
A)blog
B)social network
C)bulletin board
D)wiki
Q3) The communication function of the Internet can be used by marketers to advance their organizational objectives.
A)True
B)False
Q4) What is e-marketing? Differentiate between e-marketing and online marketing.
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Chapter 6: Consumer Behavior
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Sample Questions
Q1) Define cognitive dissonance.How can marketers manage a consumer's cognitive dissonance?
Q2) Which of the following product purchases would most likely require a high-involvement decision?
A)Shampoo
B)Magazine subscription
C)Car
D)Hair dryer
Q3) The consumer decision process does not apply to low-involvement purchases.
A)True
B)False
Q4) In the learning process,reinforcement is:
A)the expected change in behavior that results from experience.
B)the reduction in drive that results from a proper response.
C)an individual's reaction to a set of cues.
D)any strong stimulus that impels action.
Q5) Households with two wage earners are more likely than others to make joint purchasing decisions.
A)True
B)False
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Chapter 7: Business-To-Business B2bmarketing
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Sample Questions
Q1) Centralized buying tends to emphasize short-term results rather than focusing on long-term relationships.
A)True
B)False
Q2) Outsourcing and offshoring have the potential to slow a company's efforts in bringing new products to market.
A)True
B)False
Q3) Jayden is a computer programmer who is employed for TekSystems.TekSystems recruits programmers and other IT specialists to its company so they can fulfill needs on a contract basis with Fortune 500 companies such as Allstate and Procter and Gamble.TekSystems is utilizing _____ to place it's IT professionals within Fortune 500 firms for a limited time to provide agreed-upon work products.
A)outsourcing
B)offshoring
C)nearshoring
D)job placement
Q4) Describe the influence of organizational factors on business buying behavior.
Q5) Explain the four components of business-to-business markets.
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Chapter 8: Global Marketing
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Sample Questions
Q1) Which of the following internationally recognized standards sets requirements for operations that minimize harm to the environment?
A)ISO 9000 series
B)ISO 8000 series
C)ISO 10000 series
D)ISO 14000 series
Q2) Despite over a hundred million viewers every year watching the Super Bowl,the NFL worries it is nearing market saturation in the U.S.So the NFL is scheduling regular-season games at London's storied Wembley Stadium.According to the information given in this case,which of the following marketing strategies is being used by the NFL?
A)Multidomestic marketing strategy
B)Societal marketing strategy
C)Global marketing strategy
D)Vertically integrated marketing strategy
Q3) Manufactured goods account for the lion's share of U.S.production output today.
A)True
B)False
Q4) What are the different product and promotion strategies that can be used by global marketers?
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Chapter 9: Market Segmentation, targeting, and Positioning
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Sample Questions
Q1) Kim's Egg Rolls were being promoted as a dinner item but after a few years the company decided to change their packaging and advertising to promote the egg rolls as evening snacks.This is an example of repositioning a product.
A)True
B)False
Q2) _____ are goods and services purchased for use either directly or indirectly in the production of other goods and services for resale.
A)Impulse goods
B)Shopping goods
C)Business products
D)Unsought products
Q3) Baby boomers are people born between 1946 and 1964.
A)True B)False
Q4) A product that is purchased for personal use by an ultimate consumer is called a(n)_____.
Q5) Psychographic segmentation is the most common method of market segmentation. A)True B)False
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Chapter 10: Marketing Research in the Era of Big Data
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Sample Questions
Q1) Entertainment Research Group specializes in rating movie theaters using input from moviegoers.Entertainment Research Group is an example of a:
A)contract market research firm.
B)computerized data supplier.
C)full-service consulting firm.
D)limited-service research supplier.
Q2) The number of "hits" for a web page represents the number of times a visitor accesses the page.
A)True
B)False
Q3) Big data is information that originates in unprecedented volume and speed from the world around us.
A)True
B)False
Q4) Interpretative research focuses on understanding the meaning of a product or the consumption experience in a consumer's life.
A)True
B)False
Q5) What is an MDSS? How is it different from an MIS?
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Chapter 11: Relationship Marketing and Customer
Relationship Management Crm
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Sample Questions
Q1) A biotechnology company and a medical school have formed a partnership to develop a new class of cancer-fighting drugs.This is an example of a(n)_____ partnership.
A)buyer
B)seller
C)internal
D)lateral
Q2) Reviewing customer comments and feedback and monitoring the click-through behavior on websites help companies to set appropriate,measurable goals for relationship programs.
A)True
B)False
Q3) Transaction based marketing emphasizes retaining customers over making a sale.
A)True
B)False
Q4) Relationship marketing views customers as equal partners in buyer-seller transactions.
A)True
B)False
Q5) What is electronic data interchange? What are its applications?
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Chapter 12: Product and Service Strategies
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Sample Questions
Q1) Which of the following consists of intangible products that firms buy to facilitate their production and operating processes?
A)Installations
B)Accessories
C)Business services
D)Operating supplies
Q2) Johnson & Johnson manufactures more than 100 brands in nearly 50 product categories.The total number of products they manufacture represents the _____ of its product mix.
A)length
B)depth
C)consistency
D)width
Q3) Promoting the use of oatmeal as a cholesterol reducer and antacids as a calcium supplement are most likely to be examples of extending the lifecycle of the product by:
A)improving product quality.
B)changing package sizes.
C)increasing the frequency of use.
D)finding new uses.
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Page 14
Chapter 13: Developing and Managing Brand and Product Categories
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Sample Questions
Q1) The practice of brand licensing expands a company's exposure in the marketplace.
A)True
B)False
Q2) A(n)_____ gathers a group of specialists from different areas in an organization to work together in developing new products.
A)quality circle
B)venture team
C)new-product department
D)market development committee
Q3) According to the Young & Rubicam's BrandAsset Valuator model,the _____ is a dimension of brand personality that refers to the extent of consumer awareness of a brand and the understanding of what a good or service represents.
A)knowledge
B)esteem
C)recognition
D)differentiation
Q4) National brands sold exclusively by a retail chain are called captive brands.
A)True
B)False
Page 15
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Chapter 14: Marketing Channels and Supply Chain Management
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Sample Questions
Q1) Clarke's,a popular and high-end brand of men's formalwear,has just five main distributors to cater to the five zones in the country: north,south,east,west,and central.According to the information given in this case,Clarke's uses:
A)closed sales territories.
B)contractual collusion.
C)tying agreements.
D)intensive distribution.
Q2) Large facilities offer economies of scale in facilities and materials handling systems; per-unit costs for these systems decrease as volume increases.
A)True
B)False
Q3) If producers set up closed sales territories that substantially decrease competition,then it is in violation of the Federal Trade Commission Act and provisions of the Sherman and Clayton Acts.
A)True
B)False
Q4) List the six major elements of the physical distribution system along with the focus area for each.
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Chapter 15: Retailers, wholesalers, and Direct Marketers
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Sample Questions
Q1) Wholesaling intermediaries tend to reduce the number of transactions between buyers and sellers.
A)True
B)False
Q2) The main factors involved in determining a product's markup are the inventory turnover rate and the services performed by the retailer.
A)True
B)False
Q3) Through direct selling,manufacturers completely bypass retailers and wholesalers and set up their own channels to sell their products directly to consumers.
A)True
B)False
Q4) Macy's focuses on fashion-oriented merchandise,backed by a complete array of customer services.Hence,Macy's can be regarded as a:
A)self-selection retailer.
B)full-service retailer.
C)self-service retailer.
D)partial-assistance retailer.
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Chapter 16: Integrated Marketing Communications, advertising,
and Public Relations
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Sample Questions
Q1) Banner advertisements on a Web page that link to an advertiser's site are the least common type of advertising on the web.
A)True
B)False
Q2) The goal of an ad is to improve the likelihood that a customer will buy a particular good or service.
A)True
B)False
Q3) Which of the following terms best represents an interpersonal influence process that involves a seller's promotional presentation conducted on a face-to-face basis with the buyer?
A)Social referencing
B)Personal selling
C)Mass marketing
D)Advertising
Q4) Discuss the importance of feedback in the communication process in the context of promotional messages.
Q5) Explain the AIDA concept.
Q6) Define publicity.Explain its role in a firm's promotional strategy.
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Chapter 17: Personal Selling and Sales Promotion
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Q1) Personal selling is likely to be the primary component of a firm's promotional mix when:
A)the firm markets inexpensive products that require no special handling.
B)the transactions frequently involve trade-ins.
C)the price of the products is relatively low.
D)the firm markets to a large number of customers in various locations.
Q2) Closing,in which the salesperson asks the customer for a buying commitment,is the last step in the sales process.
A)True
B)False
Q3) Personal selling is an important component of the promotional mix for a firm that markets to relatively few potential customers.
A)True
B)False
Q4) Salespeople involved in creative selling use well-planned strategies to seek new customers by proposing innovative solutions to customer's needs.
A)True
B)False
Q5) What do buyers expect from professional salespeople?
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Chapter 18: Pricing Concepts
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Q1) Identify and discuss the major categories of pricing objectives used by for-profit organizations.
Q2) Which of the following terms represents the measure of responsiveness of purchasers and suppliers to a change in price?
A)Selectivity
B)Captivity
C)Elasticity
D)Sensitivity
Q3) Which of the following products would most likely have an inelastic demand curve?
A)HP genuine ink for an HP printer
B)paper towels
C)photocopier paper
D)pencils
Q4) Demand curves must be based on marketing research estimates that may be less exact than cost figures.
A)True
B)False
Q5) Explain customary prices.
Q6) What are the major weaknesses of traditional breakeven analysis?
Page 20
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Chapter 19: Pricing Strategies
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Q1) A manufacturer of tablet computers has designed a unique new product that can network with satellites to access streaming video and television channels.This device does not need a Wi-Fi connection and can be accessed anywhere in the world by logging onto the site.Besides serving as a portable computer,this device bypasses the need for a consumer to purchase cable or personal satellite dish access.Which approach to pricing makes the most sense for the company to use first?
A)set the price extremely high until competing products are developed
B)set the price to match the manufacturing of the device under a private label
C)set the price extremely low in order to capture more of the current market share
D)set the price to match other computer and television devices sold by competitors
E)set the price extremely low in order for consumers to purchase it without needing a coupon
Q2) A manufacturer's list price must incorporate the costs incurred by channel members in performing required marketing functions and expected profit margins for each member.
A)True
B)False
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Chapter 20: Developing an Effective Marketing Plan
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Q1) A marketing plan is a detailed description of the resources and actions needed to achieve stated marketing objectives.
A)True
B)False
Q2) A firm's marketers must write a marketing plan before formulating an overall marketing strategy.
A)True
B)False
Q3) A marketing plan is not reevaluated once it is completely implemented.
A)True
B)False
Q4) Which of the following components of a business plan describes strategies for informing potential customers about the goods and services offered by the firm as well as strategies for developing long-term relationships?
A)The marketing plan
B)The financing plan
C)The production plan
D)The facilities plan
Q5) Describe the different components of a business plan.
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Chapter 21: Financial Analysis in Marketing
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Q1) What is a markup? What are the two marketing decisions that decide the amount of markup? Explain why a markup is important to a marketer.
Q2) Depreciation is an unusual expense because it does not involve an actual cash expense.
A)True
B)False
Q3) All successful organizations have the same inventory turnover ratio.
A)True
B)False
Q4) In the context of financial statements,which of the following represents the systematic reduction over time in the value of certain company assets?
A)Depreciation
B)Attrition
C)Recession
D)Deduction
Q5) A balance sheet contains more marketing-related information than an income statement.
A)True
B)False
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