Entrepreneurship Final Chapter 10
The sales-driven philosophy
Focuses on personal selling and advertising to persuade customers to buy the company's output
Factors affect pricing strategies EXCEPT:
Government mandates
Pricing models, which is not indicative of pricing in the social media age?
Growth stage model
The textbook discusses traditional marketing EXCEPT?
Relevancy
Purpose of loss-leader pricing?
Switch customers to new products
Part of the marketing plan emphasizes the factors that contribute to a firm's competitive edge
The appraisal of marketing strengths and weaknesses
NOT true about traditional marketing
The role of a marketer is that of internal and external change agent. Also, actions are constrained by resources currently controlled
Final critical factor in the marketing-planning process is?
Evaluation
Secondary data consists of?
Existing information
Sometimes consumers associate a higher price with...
Higher product quality
Purpose of marketing research is _____
Identify customer
Statement about marketing skills of great entrepreneurs is true?
They have clear visions of what they want to achieve next
2 major variables needed to identify specific market segments?
Demographic and benefit
Inhibitors to marketing research include all of the following EXCEPT?
Distribution
Products or services consumers make a special effort to find and purchase are
Specialty goods
Identified as stages in consumer buying behavior, according to the family life cycle, EXCEPT...
Specialty occasion
Which is NOT associated with entrepreneurial tactics in market research?
In-person interviews
When developing a survey, you should consider...
Including questions only pertaining to the study
What is a demographic variable?
Income
Survey method that typically has the lowest respondent cooperation?
Mail surveys
Surveys include contact by
Mail, telephone, personal interviews
Textbook identify as critical to the marketing planning process?
Marketing research
The key to marketing analysis is
Marketing research
___ is the user of portable wireless devices to connect to the Internet
Mobile computing
A market is?
A group of consumers who have a purchasing power and unsatisfied needs
All of the following techniques are used in gathering primary data except...
Analysis of financial records
Psychological characteristics of consumers include...
Aspiration
Marketing segmentation focuses on which variable?
Characteristics that differentiate consumers
Influences the choice of marketing philosophy
Competitive Pressure
Defining research objectives, the entrepreneur should include...
Consumer tastes
The 4 Cs of marketing include all of the following EXCEPT...
Continuity
These survey methods has the lowest nonresponse rate?
Personal interviews, door to door
What is meant by pricing for the life cycle?
Pricing needs to be adjusted at each stage in a product's life cycle
The 4 Ps of marketing include all the following EXCEPT...
Principle
Market segmentation is
Process of identifying a specific set of characteristics that differentiate 1 group of consumers from the rest
Marketing info system compiles and organizes data relating to ____ from the customer base
Revenue
NOT a method of collecting primary data?
Review of government publications
A marketing philosophy that focuses on personal selling?
Sales-driven philosophy
What is penetration pricing?
Setting price to maximize market share
What is skimming?
Setting price to maximize profit
Products that consumers will take time to examine carefully and compare for quality and price are?
Shopping goods
NOT a key factor affecting a marketing info system?
Size of the system