Small Business Marketing
Final Exam
Course Introduction
Small Business Marketing explores the unique challenges and opportunities faced by small enterprises in promoting their products and services. The course covers essential marketing principles tailored to smaller operations, including market research on a limited budget, developing a brand identity, digital marketing strategies, customer relationship management, and effective use of social media. Students learn to create and implement cost-effective marketing plans, identify target markets, and analyze consumer behavior. Through case studies and practical projects, the course emphasizes strategic decision-making to help small businesses grow and compete in todays dynamic marketplace.
Recommended Textbook
Foundations of Marketing 8th Edition by William
M. Pride
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17 Chapters
3771 Verified Questions
3771 Flashcards
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Page 2
Chapter 1: Customer-Driven Strategic Marketing
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187 Verified Questions
187 Flashcards
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Sample Questions
Q1) Long-term relationships with profitable customers is the key objective of A)personal selling.
B)customer relationship management.
C)production oriented firms.
D)e-marketing.
E)distribution channels.
Answer: B
Q2) Promotion can help sustain interest in established products that have long been available.
A)True
B)False
Answer: True
Q3) During the market orientation, businesspeople realized that products, which by this time could be made relatively efficiently, would have to be promoted through much personal selling and advertising.
A)True
B)False
Answer: False
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Chapter 2: Planning, Implementing, and Evaluating Marketing Strategies
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162 Verified Questions
162 Flashcards
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Sample Questions
Q1) The Texan BBQ Brand Corp. has conducted a SWOT analysis of its competition and sees a marketing opportunity for its new Texan BBQ restaurant. It has developed its marketing plan to include the type of products it will sell, the location for the restaurant, and the pricing it will use. Their plan includes a marketing objective to make a profit of 5% the first year of operation. So far, the owners of the restaurant have eliminated a key piece of the marketing plan, which is
A)specifying how they will achieve their marketing objective
B)how they will address the competition's prices
C)coming up with a quantitative measure for their objective
D)developing a qualitative measure for their objective
E)assessing their weaknesses
Answer: A
Q2) In a traditional organization, marketing decisions are generally centralized at the top levels of the organization.
A)True
B)False
Answer: True
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4
Chapter 3: The Marketing Environment, Social Responsibility, and Ethics
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220 Verified Questions
220 Flashcards
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Sample Questions
Q1) Product competitors market products with similar features and benefits to the same customers at similar prices.
A)True
B)False
Answer: False
Q2) Your company is accepting proposals from a variety of consulting firms to assist in determining how the rapid changes in technology will impact your firm's future operations and profitability. Which one of the following consulting firm proposals should you accept?
A)Accept Firm A's proposal to complete a technology evaluation.
B)Accept Firm B's proposal to complete a SWOT analysis.
C)Accept Firm C's proposal to implement an information technology change management process.
D)Accept Firm D's proposal to complete a technology assessment.
E)None of the proposals should be accepted.
Answer: D
Q3) Changes in cultural values have little effect on people's needs for products. A)True
B)False
Answer: False
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Chapter 4: Marketing Research and Information Systems
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183 Verified Questions
183 Flashcards
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Sample Questions
Q1) Your company is seeking to hire a consultant to assist with completing a specialized marketing research project that is focused on tech-savvy, young consumers. One of the firms describes its state-of-the-art marketing research system as follows: "It's a social intelligence system that provides insightful, actionable information about what people are saying about your brand. It integrates information from millions of sources and empowers you to, among other things, help your organization understand and even shape relevant conversations in the social media sphere." Based on the description, which of the following is the best reason for hiring this company?
A)This company is strong in the area of ethical marketing.
B)This company is likely run by recent college graduates who will understand our target market better than other firms.
C)This company's expertise and information systems are a good fit for the project.
D)This company is a socially responsible company.
E)The CEO of this company has a close personal relationship with our marketing director.
Q2) How can companies use information technology as a competitive advantage?
Q3) How does marketing research differ when conducted in other countries?
Q4) Why would a personal interview be favored over a mail or telephone survey?
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6
Chapter 5: Target Market Segmentation and Evaluation
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211 Verified Questions
211 Flashcards
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Sample Questions
Q1) Which of the following is not a requirement or characteristic of a market?
A)The ability to purchase a product
B)A large number of people or organizations
C)The authority to buy a product
D)The willingness to use buying power
E)The need for a specific product in a specific product category
Q2) How do business markets differ from consumer markets?
Q3) Home Aura sells expensive custom-made draperies, bedding, and accessories through sales representatives who are also interior designers. It also has another, slightly less expensive line that it sells through stores such as Nordstrom's and Saks Fifth Avenue. Home Aura is most likely using a(n) ____ targeting strategy.
A)differentiated
B)undifferentiated
C)concentrated
D)homogeneous
E)heterogeneous
Q4) Only one variable can be used to segment a market.
A)True
B)False
Q5) What are the major steps of the target market selection process?
Page 7
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Chapter 6: Consumer Buying Behavior
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229 Verified Questions
229 Flashcards
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Sample Questions
Q1) Market researchers for a local bakery determined that Jewish people consume 63% of the portion of bagels sold in New York City. This is an example of ____ influence on consumer buying decision processes.
A)demographic
B)situational
C)subcultural
D)role
E)social class
Q2) When buying frequently purchased, low-cost items, a consumer uses extensive decision making.
A)True
B)False
Q3) Which of the following consumer decision-making processes will probably be used in purchasing toothpaste?
A)Extended decision making
B)Routinized response behavior
C)Intensive decision making
D)Limited decision making
E)Perceptual scanning
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Page 8
Chapter 7: Business Markets and Buying Behavior
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189 Verified Questions
189 Flashcards
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Sample Questions
Q1) Discuss the differences between business and consumer transactions.
Q2) In the buying decision process, one of the activities included in the search for products and suppliers is examining various online and print publications.
A)True
B)False
Q3) Vendor analysis is a formal, systematic evaluation of current and potential vendors that focuses on a variety of dimensions including price, product quality, delivery service, product availability, and overall company reliability.
A)True
B)False
Q4) The third stage in the business buying decision process is to
A)evaluate product specifications to solve the problem.
B)evaluate products relative to specifications.
C)select and order the most appropriate product.
D)evaluate product and supplier performance.
E)search for products and suppliers.
Q5) Demand for business products can be characterized in four ways; describe these four characteristics and compare and contrast their attributes.
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Chapter 8: Reaching Global Markets
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162 Verified Questions
162 Flashcards
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Sample Questions
Q1) General Motors is a multinational company. In most countries in which it operates, General Motors opens facilities that give it total control over manufacturing and other processes. However, in China General Motors must partner with domestic companies due to legal and regulatory constraints. In these cases, GM owns part of the company, while the domestic firm owns the other part. In most countries, GM engages in ____________, but in China it engages in _______________.
A)direct ownership; strategic alliances
B)strategic alliances; joint ventures
C)exporting; joint ventures
D)direct ownership; joint ventures
E)exporting; strategic alliances
Q2) An accounting firm contracts with a local janitorial services company for janitorial services twice a week. The accounting firm is outsourcing for its janitorial service needs. A)True
B)False
Q3) Describe how economic and competitive forces affect international marketing strategies.
Q4) In what ways can a nation restrict the flow of imported goods?
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Page 10
Chapter 9: Digital Marketing and Social Networking
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137 Verified Questions
137 Flashcards
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Sample Questions
Q1) Which of the following regulatory bodies is responsible for enacting legislation that regulates the information companies can gather online from consumers and about consumers?
A)U.S. Department of Justice
B)Department of Homeland Security
C)FDA
D)U.S. Department of Commerce
E)Federal Trade Commission
Q2) The European Union has stricter Internet privacy laws than the United States.
A)True
B)False
Q3) Positive customer feedback is free publicity that often helps the company more than corporate messages do.
A)True
B)False
Q4) People in many foreign countries engage in social networking.
A)True
B)False
Q5) Explain the ethical issues associated with digital media.
Q6) How can marketers measure the success of their digital strategies?
Page 11
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Chapter 10: Product, Branding, and Packaging Concepts
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358 Verified Questions
358 Flashcards
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Sample Questions
Q1) Marvel Comics allowed various organizations to use its Spiderman and Incredible Hulk characters to market a wide variety of toys and clothing items. Marvel Comics received a percentage of the gross revenues. This is
A)brand licensing.
B)character exploiting.
C)co-branding.
D)family branding.
E)trademark leasing.
Q2) Which of the following products is an example of a manufacturer brand?
A)Great Value Corn Flakes
B)JCPenney jeans
C)Kmart tires
D)Sony TVs
E)Safeway tomato sauce
Q3) The total product offering consists of three interdependent elements:the core product, its supplemental features, and its symbolic or experiential benefits.
A)True
B)False
Q4) What is co-branding? Explain what makes co-branding effective.
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Chapter 11: Developing and Managing Goods and Services
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265 Verified Questions
265 Flashcards
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Sample Questions
Q1) Delivery, installation, financing, repair, warranties, and guarantees are all examples of product features.
A)True
B)False
Q2) Designing a product that customers perceive as different from competing products is an example of product differentiation.
A)True
B)False
Q3) Symbols such as the Travelers' Financial Services umbrella are designed to help customers overcome the ____ of services.
A)heterogeneity
B)unpredictability
C)inseparability
D)intangibility
E)perishability
Q4) Services are highly perishable and cannot be inventoried for future use.
A)True
B)False
Q5) Why is it often difficult for organizations to delete products?
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Chapter 12: Pricing Concepts and Management
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259 Verified Questions
259 Flashcards
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Sample Questions
Q1) Companies use dynamic pricing to balance out supply and demand.
A)True
B)False
Q2) How might a marketer find information about a competitor's prices? Why is this information important?
Q3) The six stages of setting prices should always be followed if prices are to be set correctly.
A)True
B)False
Q4) Which of the following is not a discount provided to business customers?
A)Trade
B)Quantity
C)Cash
D)Seasonal
E)Differentiated
Q5) The way marketers use pricing in the marketing mix will affect the final price.
A)True
B)False
Q6) Why is the marginal revenue of a product important to the marketer?
Q7) Explain differential pricing and then describe the four major types.
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Chapter 13: Marketing Channels and Supply-Chain Management
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283 Verified Questions
283 Flashcards
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Sample Questions
Q1) Refer to Scenario 13.1. Which of the following is most likely the primary factor Kelly Rose, Inc. used when selecting the marketing channel for its Costura Moderno brand?
A)Characteristics of the intermediaries
B)Product attributes
C)Type of organization
D)Marketing environmental forces
E)Competition
Q2) Marketing intermediaries are marketing institutions, such as retailers and wholesalers, which perform marketing functions necessary to direct products to customers.
A)True
B)False
Q3) Refusal-to-deal arrangements involve a manufacturer that forbids an intermediary to carry products of competing manufacturers.
A)True
B)False
Q4) Order processing can be manual or electronic.
A)True
B)False
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Chapter 14: Retailing, Direct Marketing, and Wholesaling
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261 Verified Questions
261 Flashcards
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Sample Questions
Q1) ____ provide an effective method of selling small items to customers in remote areas that other wholesalers might find unprofitable to serve.
A)Desk jobbers
B)Specialty-line wholesalers
C)Cash-and-carry wholesalers
D)Truck wholesalers
E)Mail-order wholesalers
Q2) Direct-response marketing is the performance of marketing-related activities by telephone.
A)True
B)False
Q3) The marketing of products to ultimate consumers through face-to-face sales presentations either at home or the workplace is called
A)direct marketing.
B)direct-response marketing.
C)telemarketing.
D)personal selling.
E)direct selling.
Q4) Discuss the advantages and disadvantages of catalog marketing.
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Chapter 15: Integrated Marketing Communications
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239 Verified Questions
239 Flashcards
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Sample Questions
Q1) Before the release of the newest iPhone by Apple Inc., an Apple juice brand used an actor dressed up like an apple to hold a sign encouraging those waiting in line to try its juice. The brand thought this would be a creative event that would spark an interest in Apple iPhone fans as they stood waiting in line with little else to do. This is an example of
A)buzz marketing.
B)viral marketing.
C)electronic marketing.
D)sales promotion.
E)product placement.
Q2) Promotional efforts designed to reduce the risk to consumers for using a product for the first time seek to
A)stimulate demand.
B)encourage product trial.
C)create awareness.
D)combat competitive promotional efforts.
E)retain loyal customers.
Q3) Signs and symbols that can have more than one meaning should be avoided.
A)True
B)False
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Page 17
Chapter 16: Advertising and Public Relations
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205 Verified Questions
205 Flashcards
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Sample Questions
Q1) When a company promotes its position on a public issue, this is specifically referred to as ____ advertising.
A)institutional
B)product
C)advocacy
D)issue
E)competitive
Q2) A car dealership is altering how it determines its advertising appropriation. It is moving from an approach where it sets its budget based on projected revenue for the coming year to one in which it identifies the cost required to meet certain goals. It is switching from the _____ approach to the _____ approach.
A)competitive-matching; arbitrary
B)percentage-of-sales; competitive-matching
C)competitive-matching; objective-and-task
D)percentage-of-sales; objective-and-task
E)arbitrary; competitive-matching
Q3) Discuss how event sponsorship can be used as a public relations tool.
Q4) Identify and describe four publicity-based public relations tools.
Q5) What are the components of a print ad? What are the functions of each component?
Page 18
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Chapter 17: Personal Selling and Sales Promotion
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221 Verified Questions
221 Flashcards
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Sample Questions
Q1) Sales promotion activities are generally used in conjunction with other promotional efforts.
A)True
B)False
Q2) A missionary salesperson is usually employed by
A)a retailer.
B)a wholesaler.
C)either a retailer or a producer.
D)a manufacturer.
E)an independent intermediary.
Q3) Paid personal communication that attempts to inform and persuade customers to purchase products in an exchange situation is called
A)advertising.
B)sales promotion.
C)personal selling.
D)target marketing.
E)public relations.
Q4) Identify and discuss some of the key objectives in using sales promotion.
Q5) Identify the major features of effective sales force compensation plans.
Q6) Discuss the purpose of coupons in sales promotion.
Page 19
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