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