Chapter 10-ENTR-202-Small Business Promotion: Capturing the Eye of Your Market

Which of the following statements about small business donations as a form of marketing are correct? (Check all that apply.)

It can be an in-kind donation to become a sponsor of a charitable event. It does not have to be a big sum of cash. It can be time, connections, services, or products.

Which of the following are true of influencers? (Check all that apply.)

They produce content on social media platforms to get subscribers and followers beyond their social circles. They are generally quite open to considering new things.

In the context of public relations, which of the following are examples of important stakeholders in a business who get a favorable opinion about the business from different forms of publicity? (Check all that apply.)

Investors Special-interest groups

Identify a true statement in the context of affiliate marketing.

A firm can develop an affiliate program and detail it on a page on its website.

A press release is a

written announcement intended to draw news media attention to a specific event.

______ is the major way most businesses convey their message to potential customers.

Advertising

___ involves partnerships between firms where a firm (often a content creator) mentions the product or service of another firm.

Affiliate marketing

Customer vector reports

Classify information by customer or customer groups based on purchases or dates of purchase

Which of the following is part of the personal selling formula for generating interest in a product or service? (Check all that apply.)

Close Prepare Prospect and evaluate Present Follow-up

Which of the following occurs when two businesses combine their products or services?

Co-branding

Earned media

Do-it-yourself and paid efforts to get the message of a firm out to the general public or the mass media in hopes they repeat it

______ is a paying it forward approach where a business gives its product, services, time, or connections.

Donating

Which of the following are types of media included in the PESO model developed by Gini Dietrich? (Check all that apply.)

Earned media Owned media

True or false: A firm's owner should avoid paying customers, friends, or family members to keep an eye on various social media platforms for the firm's services and alert him or her when action is needed.

False

True or false: Doing good through community service results in instant publicity, but cannot be worked into company history or biographical information.

False

Which of the following statements about press releases are correct? (Check all that apply.)

It is the centerpiece of a business profile kit. Entrepreneurs should use the AIDA formula, which means attention, interest, desire, and action, when writing a press release. A business' contact information should be included at the end of the release so that the reader can get additional details.

Which of the following statements about customer retention are correct? (Check all that apply.)

It is the name for the general approach for keeping customers. It focuses maximizing satisfying customers after the sale. The three elements to CR are: handling problems after the sale, customer relationship management, and growing customer sales.

In the context of incentive media, which of the following are true of sponsored content? (Check all that apply.)

It refers to articles, videos, or blogs that help to promote a firm's products and services. It is a variation of native advertising.

Which of the following components are included in a firm's media content strategy plan? (Check all that apply.)

Key performance indicators Publishing procedures

______ is a strategy whose goal is growth, based on selling more of a firm's product or service to a existing customer base.

Market penetration

PESO MODEL

Paid Media Earned Media Shared Media Owned Media

______ is the process of selling a business' products and services.

Personal selling

______ are activities used to establish and promote a favorable opinion by the media.

Press relations

Owned media

Promotional materials directly and wholly held by a firm

Shared media

Promotional mentions of a firm or user experiences with its products or services made by customers and posted through their social media sites

Paid media

Promotions where a firm hires another for the placement and distribution of the material

Which of the following are true of public relations? (Check all that apply.)

Public relations are those things a firm does to help create a favorable opinion of itself in the mind of people. Many people are skeptical of public relations stories.

Sales outcome reports

Sum up issues around actual sales

Sales process reports

Summarize data based on the position of customers in a sales process

Which of the following are true of succinct messages? (Check all that apply.)

The words used should be memorable. They should use few words.

Which of the following statements are true about advertorials? (Check all that apply.)

They are a form of paid advertisement from a firm, usually as editorial-like articles. They are generally published in mass media

Which of the following is true of media kits?

They are often built around a press release for some potential current interest to a media outlet.

In the context of customer relationship management, which of the following are ways in which reports generated during data analysis help firms? (Check all that apply.)

They help firms in deciding how to operate critical aspects of their marketing efforts. They help firms track and identify products of low quality based on customer satisfaction.

Which of the following statements are true about business profile kits? (Check all that apply.)

They include samples of a firm's products, logo art, photos of products, and target market-specific statistics. They are generally built around new press releases that a firm considers to be of interest to media outlets.

Which of the following are true of brand ambassadors? (Check all that apply.)

They may be paid or just volunteers. They usually receive a firm's products and services to use and demonstrate to the public.

Which of the following statements regarding domains are correct? (Check all that apply.)

Using a company's domain as its email is professional. Many companies are able to use their name as their domain name.

______ marketing is any electronic equivalent of word-of-mouth advertising, in which the advertiser's message spreads quickly and widely via email, website, blogs, and other online tools.

Viral

Which of the following statements about viral marketing are correct? (Check all that apply.)

Viral marketing works because hearing about a great product from a friend or other trusted individual adds creditability. It relies on customers telling their friends about a service or product of a business.

A media kit that a firm creates for itself to distinguish it from the media kits of other companies is called a(n) ___ kits.

business profile

A ______ name is the specific name of an Internet site, consisting of a name followed by .com, .net, or a similar code.

domain

A(n) ______ rate is how many prospects or leads a sales person needs to approach in order to make one sale.

hit

When someone notices a promotional effort it is called a(n) ______.

impression

A document that details the specifics of a firm's marketing efforts including its goals, target audiences, distribution channels, and analytics across all the different types of marketing efforts the firm will attempt is called a ______ strategy plan.

media content

A(n) ___ is a type of specialized web page or sales-material-based package sent to media outlets that is focused on telling them about a company and its story.

media/press kit

Sponsorship is

paying for a local organization's needs in exchange for recognition.

Customer ______ are the techniques that focus on efforts to promote satisfaction with and interest in a firm.

retention

Product expansion is a strategy whose goal is growth based on

selling existing customers a product or service they have never bought before.

Market penetration is a strategy whose goal is growth, based on

selling more of a firm's product or service to the existing customer base.

An online service that captures and displays the feeds from a firm's social media sites and makes it easy to post across multiple sites, schedule posts on different sites, and help the firm see social media statistics is called a(n)

social media management platform

An impression is when

someone notices a promotional effort.

Paying for a local organization's needs in exchange for recognition is called

sponsorship

A ______ message is the key point in as few and as memorable words as possible.

succinct

Online sites where a firm's customers can post their opinions, rating, and experiences about the firm's products or services for others to see are called

user review sites

A(n) ___ represents situations where one good turn invites another one from someone else.

virtuous cycle

A company's ___ is the number of prospects or leads who needs to approach in order to make one sale.

hit rate

___ ___ , or spokespersons, are those who represent a firm, product, or service to others to increase awareness, sales, and positive attitudes about the firm among the public.

Brand ambassadors

Which of the following statements about newsworthy events are correct? (Check all that apply.)

Business owners need to make it easier for the media outlet to find and create the story A newsworthy event should have public recognition, importance, and interest

______ refers to mentions of a company or products in the media for which the company did not pay.

Free ink

It refers to articles, videos, or blogs that help to promote a firm's products and services. It is a variation of native advertising.

It focuses maximizing satisfying customers after the sale. The three elements to CR are: handling problems after the sale, customer relationship management, and growing customer sales. It is the name for the general approach for keeping customers.

Which of the following are advantages of being part of a trade association? (Check all that apply.)

It helps firms learn about the current and best practices in their own fields. It helps provide access to a network of shared interests and knowledge to firms

Which of the following is true of free ink?

It is a form of free advertising in which a business gets mentioned by the media.

True or false: Organizational identity starts with the names of a business, product, or service, and these days often includes characters, slogans, logos, symbols, hashtags, uniforms, and packaging.

True

A group of people in the same industry who band together to gather and share information and present and represent the industry to the public and government form a(n)

trade association

Which of the following statements about advertising are correct? (Check all that apply.)

It can be done through print outlets or electronically via mass media or the Internet. It is the presentation of a company's image, products, and services to potential customers and the general public. Advertising can be free or paid.

Which of the following statements about press relations are correct? (Check all that apply.)

Media includes newspapers, magazines, radio, and television. It consists of activities that attempt to influence or increase media coverage of a business. Activities can be targeted to the general public or for specific groups.

______ are forms of ads inserted into the regular flow of noncommercial web pages so that it appears to belong to the page.

Native advertising

True or false: Investor relations in small businesses mostly tend to build from personal contacts and are supplemented by emails, usually with supporting documents.

True

Words or multiword phrases (without spaces) preceded by a "#" sign that are associated with an idea, person, product, service, brand, firm, event, or the like are called

hashtags

Creating a ___ event is another way to get free media attention by local newspapers, radio stations, or television stations.

newsworthy

The overlap between owned media and shared media in the PESO model is an important part of the media strategy of any small business because

it is where the business has its own brand page on different social media platforms

The promotional technique of obtaining prospective customers through paid and unpaid efforts to obtain contact information from people with the plan to send these prospects advertisements or other messages in hopes of getting them to become customers is called

lead generation

The promotional technique of obtaining prospective customers through paid and unpaid efforts to obtain contact information from people with the plan to send these prospects advertisements or other messages in hopes of getting them to become customers is called ___

lead generation

Which of the following are goals of a firm's investor relations? (Check all that apply.)

Conveying good news about the firm Making stakeholders aware of specific details about the business before the general public finds out