CH 15
Research has shown that ______ of our messages are conveyed through facial expression.
55%
What percentage of communication is achieved through actual words?
7%
A brand strategy is a short-term plan to develop a successful brand. T/F
F
Which of the following best describes the amount of time you have to make an impression during a pitch session?
You will have between 7 and 20 seconds to create a good first impression.
A logo should ______
create an emotional connection with the customer
Research conducted by Harvard Business School found that the traditional 4 Ps model ______.
is narrow and outdated
Google search ratings can be increased by which of the following?
links to social media pages that are also calculated in the ratings
Pricing is based on the amount the customer is expected to pay for the product, its perceived value, and the degree to which the price can be raised or lowered depending on ______.
market demand and competitor pricing
John is starting a sole proprietorship in which he will install home stereo systems. John decides to test a paid Google ad so that the name of his company will gain recognition. This is an example of what marketing mix element?
promotion
Karen's company manufactures high-end designer cookware. Karen has signed with a local kitchenware store to give free cooking lessons, during which she will use her cookware. This is an example of which of the following marketing elements?
promotion
The activities that involve all the ways in which companies tell their customers about their offering is known as ______.
promotion
With which of the 4 Ps is the question "How will they know my business exists?" associated?
promotion
The Eat My Words® SMILE and SCRATCH Test™ were devised in order to test ______.
the effectiveness of company or product name
During a recent snowstorm, a new startup made imprints in the snow of the product's name and brand during the night on snow-covered pavements, walls, and cars. This is an example of ______.
snow branding
In considering the access part of the S.A.V.E. framework, what is the focus?
the path from hearing about the product to the actual purchase
A brand strategy can best be described by which of the following?
the plan to communicate the brand messages to the target audience
The S.A.V.E. framework replaces product with access. T/F
F
The marketing mix consists of the variety of products that a business is offering. T/F
F
The most successful social media strategies begin with a great interactive website. T/F
F
Websites with flashy, cluttered pages tend to be most successful. T/F
F
When creating content to drive sales and engage your customers, it is more important to be truthful than to monitor your language, opinions, and standpoints. T/F
F
Which of the following statements about personal branding is true?
It is always part of a company's success.
Al Ries suggested that using one word as the product or company would create a stronger brand. What was the reasoning behind this suggestion?
It would be easier for consumers to remember.
Social media is best used to inspire, entertain, and build trust. It is less effective for direct sales. T/F
T
When designing your social media strategy, you must consider how you are going to measure your online presence. T/F
T
When you are creating content that will be engaging to your customers, a good rule of thumb is that 10% or less of your content should be about you (or the "face" of your company) and 90% should be about your customers. T/F
T
You should monitor your social media at least once per day, if not more often. T/F
T
Entrepreneurial marketing is distinct from traditional marketing in which of the following ways?
The focus is on interacting with the customers.
When marketers use the S.A.V.E. framework, the focus is likely to be which of the following?
a greater focus on solutions and providing information
Describing how a service stands out from its competitors would be what aspect of the marketing mix?
product
Karen's company manufactures high-end designer cookware. The handles of the cookware remain cool when used on a stovetop and have slip-on covers for the handles to be used for removing the product from the oven. This demonstrates what element in the marketing mix?
product
When asking "Is this service something that is suitable for my target audience?" an entrepreneur is interested in what aspect of the marketing mix?
product
With which of the 4 Ps is the question "What are the benefits and features of my product?" associated?
product
Research shows that people decide in less than ______ if they want to hear more about an idea or not.
90 seconds
What percentage of communication is nonverbal?
93%
Once developed, the marketing mix remains stable over time. T/F
F
Some people expand the 4 Ps to include people and owner personality T/F
F
All startups use guerrilla marketing because it hardly ever fails. T/F
F
Because of the nature of guerrilla marketing, its use is limited to entrepreneurs and small businesses. T/F
F
Most investors will invest primarily in your product or idea, not in you. T/F
F
The traditional marketing mix is made up of these four main elements, known as the 4Ps.
Product, Price, Promotion, Place
Stephen has opened a BBQ restaurant that he hopes will be seen as a sports bar. Which of the following best describes an example of a need for positioning?
Stephen notices several Facebook postings that describe his restaurant as "a good family restaurant" and "a perfect end to a day of shopping."
A strong personal brand helps to attract more customers to buy an entrepreneur's products and services. T/F
T
Branding is the process of creating a name, term, design, symbol, or any other feature that identifies a product or service and differentiates it from others. T/F
T
Guillermo loves Apple products. He has an iPhone, iPad, Apple Watch, and two Apple computers. He waits in line with eager anticipation when a new product is released. He follows fan sites so he can watch when Apple has press releases or promoted events. Guillermo is what is known as a true fan. T/F
T
In a pitch, it is a good idea to use the 4 Ps framework. Using the framework will organize your review of the product and make sure your pitch is complete. T/F
T
Modern sales is genuine and creative, adds value, and builds relationships. T/F
T
One of the advantages of blog content is that other bloggers will share your content through their own social networks. T/F
T
Pricing should be based in part on the value of the product perceived by the customer. T/F
T
Rather than making an audience immediately fall in love with an idea, the purpose of entrepreneurial marketing is to create a discussion that will lead to a favorable outcome. T/F
T
Research shows that 10-second first impressions are almost as powerful as impressions built over a period of months. T/F
T
Seventy percent of Twitter users who were surveyed said they expect a response from a brand within an hour. T/F
T
What is meant by guerrilla marketing?
a set of processes based on traditional marketing practices
Which of the following is considered a promise to your customers?
brand
The process of creating a name, term, design, symbol, or any other feature that identifies a product or service and differentiates it from others is known as ______.
branding
What do the authors mean by the nonvisual dimension?
consideration given to different sensory learning styles the audience may have
Experiential marketing provides people with a/an ______.
hands-on experience of what the company stands for
According to the S.A.V.E. framework, which of the following helps to build a relationship of familiarity and trust before a purchase is even made?
education
The S.A.V.E. framework replaces promotion with ______.
education
Which of the following do the authors suggest as a strategy for monitoring the appropriate price for your product?
examining competitor prices
Of the following, what component of communication is most effective in communicating your message?
facial expressions
A new company had the idea to have a flash mob to introduce its product. This is an example of ______ marketing.
guerrilla
A low-budget strategy that focuses on personally interacting with a target group by promoting products and services through surprise or other unconventional means is called ______.
guerrilla marketing
As described in the text, Blendtec created a post on YouTube where viewers were asked for items to blend which gathered six million views in six days. This successful campaign is an example of ______.
guerrilla marketing
Coca-Cola's "the happiness machine"—a vending machine that gives out seemingly endless cans of Coca-Cola, plus surprise gifts such as bunches of flowers, balloon animals, pizzas, and giant sandwiches—is an example of ______.
guerrilla marketing
S.A.V.E. advocates marketing a product based on ______ rather than emphasizing its features.
how it meets customer needs
Selena Gomez has 135 million Instagram followers and she is paid for her posts. Gomez is a/an ______.
influencer
With which of the 4 Ps is the question "What is the value of my offering?" associated?
price
Bill's new startup provides easy-to-understand, engaging content. This marketing trend is known as ______.
marketing through education
Bea's Donuts requires that all people working in her store wear a light blue polo shirt showing the logo of her company. Requiring this shirt is part of what aspect of marketing?
packaging
Which of the following components of a food truck business demonstrates the element of "place" from the marketing mix?
parking and selling food in a busy downtown area
Stephen is preparing his pitch for a bank representative that will be considering him for a business loan. He lists the resumes and credentials of chefs who are working in his restaurant's kitchen. This is an example of what marketing principle from the 7 Ps?
people
Karen's company manufactures high-end designer cookware. Karen will be selling her product at a chain grocery store during the month of December and will be paying for a center aisle display near the front entry of the store. This is an example of which element of the marketing mix?
place
With which of the 4 Ps is the question "How will the customers be reached?" associated?
place
What enables people to find you online via Google or other online browsers?
search engine optimization
What would be the best description of the term packaging?
the process of exploring all visual elements of the product and service appearance
Why would an entrepreneur be constantly tweaking the marketing mix?
to adjust to a competitive and ever-changing market
People who will buy anything you produce, wait in line when a new product is released, drive for hours for an even, or preorder your product sight-unseen are called ______.
true fans
According to the S.A.V.E. framework, customers are drawn to ______.
value more than to price
In order to build long-term relationships with investors, it is important to figure out how to market ______.
yourself