MGMT 440 final real

There are _____ steps for an entrepreneur to consider when creating a structured approach to a market plan. Select one: a.three b.four c.seven d.five

five

According to the family life cycle, all of the following are identified as stages in consumer buying behavior except Select one: a.courting. b.sole survivor. c.nest building. d.family traditions.

family traditions.

An infringement budget deals with a.claims. b.legal battles. c.government bribes. d.advertising expenditures.

legal battles

The textbook discusses all of the following aspects that distinguish social media marketing from traditional marketing except Select one: a.trust building. b.two-way communication. c.relevancy. d.control versus contributions.

relevancy

Which of the following is not a key factor affecting a marketing information system? Select one: a.size of the system b.usefulness or understandability of data c.system cost d.data relevancy

size of the system

When a trademark becomes the name of a general group of products or services, the trademark protection may be lost because of a.abandonment. b.cancellation proceedings. c.a cleaning-out procedure. d.generic meaning.

generic meaning

A trademark may be invalidated in all of the following ways except a.generic words. b.cleaning-out procedure. c.cancellation proceedings. d.abandonment.

generic words.

Which of the following is not one of the major sections of the Bankruptcy Act? a.straight bankruptcy b.reorganization c.liquidation d.adjustments of debts

liquidation

The key to marketing analysis is Select one: a.psychographic information. b.marketing response data. c.marketing research. d.secondary data.

marketing research

A patent gives the holder a temporary a.oligopoly. b.profit. c.monopoly. d.specification.

monopoly

A trademark is a distinctive _____ that is identified with a company's product. a.name b.billboard c.storefront sign d.TV ad

name

A marketing information system compiles and organizes data according to a customer's sex, age, and geographic location. Select one: True False

'False'.

Design patent protection lasts for _____ years. a.15 b.20 c.12 d.10

15

Patents that are not design patents have _____ years of protection. a.22 b.20 c.25 d.l5

20

According to the U.S. Patent and Trademark Office, the process of obtaining a patent takes about _____ years. Select one: a.3 b.2 c.4 d.6

3

Because of the _____ doctrine, it is sometimes difficult to establish infringement. a.acquisition b.fair use c.right to publish d.freedom of information

Fair use

Attorney-hopping is the best way to keep legal fees to a minimum. True False

False

Business owners normally prefer Chapter 7 bankruptcy over any other form of bankruptcy. True False

False

Chapter 13 bankruptcy involves a reorganization of the enterprise. True False

False

It is usually more expensive to gather secondary data than primary data. Select one: True False

False

It often is possible to obtain more capital and a better range of skills in a sole proprietorship than in a partnership. True False

False

Only major strategic decisions need to be supported through marketing research. Select one: True False

False

Which of the following survey methods is the most expensive to conduct? Select one: a.personal interviews b.mail surveys c.group surveys d.phone surveys

personal interviews

To effectively pursue a patent violation, experts recommend that the entrepreneur a.handle all matters personally. b.prepare a realistic budget for infringement. c.sue as quickly as possible. d.fill out a preprinted form obtained from a patent office.

prepare a realistic budget for infringement.

A patent infringer can be liable for all _____ resulting from the infringement as well as for legal fees. a.costs b.claims c.damages d.profits

profits

The two parts to a patent application are claims and a.value. b.percentage. c.integration. d.specification.

specification

A patent is an intellectual property right. True False

True

An example of a trademark is a motto. True False

True

Any legal proceeding can cost an entrepreneur a lot of money in legal fees. True False

True

Because corporate law makes it difficult for businesses to consider employee, community, and environmental interests in their decision making, the B corporation has been introduced. True False

True

Because of the fair use doctrine, it is sometimes difficult to establish infringement. True False

True

Even after marketing research is done, many entrepreneurs are unsure of how to price their products or services. Select one: True False

True

Geographic flexibility is greater for telephone interviews than for in-person interviews. Select one: True False

True

If infringement can be proven in court, a monetary award may be given to the trademark holder. True False

True

In bankruptcy terms, Chapter 7 is often called liquidation. True False

True

Marketing information that has already been compiled is known as secondary data. Select one: True False

True

One of the principal advantages of a corporation is that the stockholder's liability (the most money a person can lose) is limited to an individual's investment. True False

True

Patents eventually expire. True False

True

Shopping goods are products that consumers take time to examine carefully and compare for quality and price. Select one: True False

True

Social media marketing is the application of online collaborative media for marketing purposes. True False

True

Three primary legal forms of organization are the sole proprietorship, the partnership, and the corporation. True False

True

Works created and copyrighted after January 1, 1978, are protected for the life of the author plus 70 years. True False

True

Which of the following is a psychological characteristic of consumers? Select one: a.income b.social class c.family influence d.aspiration

aspiration

Penetration pricing is setting the price to a.switch customers to new product lines. b.be below competition. c.maximize profit. d.match the competition.

be below competition.

A copyright provides exclusive rights to creative individuals for the protection of their artistic productions. true false

true

Which of the following influences the choice of marketing philosophy? Select one: a.stock market averages b.cost of living index c.economic outlook d.competitive pressure

competitive pressure

Which of the following is a marketing philosophy that focuses on research? Select one: a.computer-driven philosophy b.sales-driven philosophy c.cost-driven philosophy d.consumer-driven philosophy

consumer-driven philosophy

Legal protection is granted to computer programs in which of the following forms? a.patent b.trademark c.service mark d.copyright

copyright

The owner of a copyright may do all of the following except a.deduct the intrinsic value of the rights from one's taxes. b.perform the work publicly. c.display the work publicly. d.reproduce the work

deduct the intrinsic value of the rights from one's taxes.

Which of the following is not a trademark? a.description b.symbol c.name d.logo

description

The process of trademark registration is a.impossible. b.inexpensive. c.one that must be handled by a lawyer. d.expensive.

expensive

Control versus communication is an important distinction between social media marketing and traditional marketing. True False

False

Inhibitors to marketing research include all of the following except Select one: a.distribution. b.cost. c.complexity. d.irrelevancy.

distribution

Which of the following pricing models is not indicative of pricing in the social media age? a.subscription model b.growth stage model c.freemium model d.affiliate model

growth stage model

When developing a survey, you should consider Select one: a.the personality of the respondents. b.giving concise but incomplete instructions. c.asking leading and biased questions. d.including only questions pertaining to the study.

including only questions pertaining to the study.

In order to obtain a patent, an application should be filed with the a.Patent and Trademark Office of the Department of Commerce. b.Government Accounting Office. c.United States Small Business Association. d.Office of Government Publications.

Patent and Trademark Office of the Department of Commerce.

An S corporation takes its name from a.S Lab. b.Uniform Commercial Code. c.Subchapter S. d.state law.

subchapter S

For the author of creative material to obtain a copyright, the material must be in _____ form. a.commercial b.nontangible c.tangible d.technical

tangible

Marketing segmentation focuses on which of the following variables? Select one: a.demographics b.profits c.consumer behaviors d.market shares

demographics

The final critical factor in the marketing planning process is Select one: a.cost projection. b.evaluation. c.sales forecasting. d.analysis.

evaluation

The sales-driven philosophy Select one: a.is based on the belief that you must "produce efficiently and worry about sales later." b.focuses on personal selling and advertising to persuade customers to buy the company's output. c.relies on research to discover consumer preferences before production begins. d.is strictly cost-driven.

focuses on personal selling and advertising to persuade customers to buy the company's output.

Copyrights can be placed on all of the following except a.ideas. b.music. c.lectures. d.books.

ideas

Items that can qualify for patent protection include all of the following except a.processes. b.ideas. c.products. d.machines.

ideas

Which of the following can provide a structure that facilitates investments in socially beneficial, for-profit ventures? a.S corporation b.low-profit, limited liability company (L3C) c.limited liability partnership d.limited partnership

low-profit, limited liability company (L3C)

Which of the following does the textbook identify as critical to the marketing planning process? a.marketing forecasting b.marketing segmentation c.marketing information systems d.marketing niche

marketing information systems

A typical symptom of impending bankruptcy is when a.other firms seem to be selling products that are a generation ahead. b.retailers always seem to be understocked. c.new competition exits the market. d.the entrepreneur seeks to exit the market.

other firms seem to be selling products that are a generation ahead

Customizable links to which of the 4Ps of marketing? Select one: a.promotion b.place c.product d.price

price

Copyrights have to be registered with the Copyright Office. True False

False

Which of the following is an indicator that an entrepreneur's business is failing? a.Other firms are selling advanced products. b.Obligations are greater than assets. c.The R&D budget is proportionally less than that of the competition. d.Retailers are overstocked.

Obligations are greater than assets.

The two parts of a patent application are specification and claims. True False

True

Which of the following is a suggestion to minimize legal costs? a.Have the lawyer custom design forms specifically for you. b.Try to avoid hiring a lawyer if and until an emergency requires it. c.Always handle matters personally. d.Visit the lawyer during normal hours of operation.

Visit the lawyer during normal hours of operation.

Which of the following is the greatest marketing challenge facing the cannabis industry? .entry into trade shows b.distribution channel c.competition from the alcohol industry d.establishing a clean image

establishing a clean image

The determination of fair use of copyrighted material is based on a.the GAD doctrine. b.the effect of use on the potential market for the work. c.the time period involved. d.specific legal guidelines set forth by OSHA.

the effect of use on the potential market for the work.

The failure of a trademark owner to file an affidavit stating it is in use is referred to as which of the following trademark invalidation reasons? a.a competitor's lawsuit b.cleaning-out procedure c.cancellation proceeding d.consumer loss of interest

Cleaning-out procedure

A market is a Select one: a.group of consumers who have purchasing power and unsatisfied needs. b.segment of the economy. c.group of known purchasers. d.way of gaining consumer data.

group of consumers who have purchasing power and unsatisfied needs.

Copyrights may be expressed in all of the following except a.computer programs. b.books. c.ideas. d.motion pictures.

ideas

Specific forms of partnership include _____ and _____. a.limited partnerships; S partnerships b.S partnerships; limited liability companies c.limited partnerships; limited liability partnerships d.limited partnerships; limited liability companies

limited partnerships; limited liability partnerships

Entrepreneurs should not be concerned with establishing a clear fee structure with an attorney before any legal matters are handled. True False

False

Most firms generally gather primary data and then see if there are secondary data to supplement it. Select one: True False

False

The freemium model requires new and exciting content each month to build a long-term relationship with fee-paying customers. True False

False

Anyone who violates an author's exclusive rights under a copyright is liable for a.actual damages only. b.any profits from use but not damages. c.a prison term. d.actual damages plus any profits from use.

actual damages plus any profits from use.

The purpose of filing for Chapter 13 bankruptcy is a.liquidation. b.reorganization. c.allocation changes. d.adjustment.

adjustment

All of the following techniques are used in gathering primary data except Select one: a.analysis of financial records. b.observational methods. c.surveys. d.experimentation.

analysis of financial records.

Which of the following parts of the marketing plan emphasizes the factors that contribute to a firm's competitive edge? Select one: a.setting of pricing structures b.appraisal of marketing strengths and weaknesses c.development of marketing strategies d.conducting market research

appraisal of marketing strengths and weaknesses

Which of the following statements about entrepreneurial marketing is not true? a.In entrepreneurial marketing, actions are constrained by resources currently controlled. b.In entrepreneurial marketing, customers actively define the product. c.In entrepreneurial marketing, marketers seek sustainable advantage through value-creating innovation. d.In terms of risk perspective, entrepreneurial marketers seek ways to mitigate, stage, or share risks.

In entrepreneurial marketing, actions are constrained by resources currently controlled.

What is meant by product life cycle pricing? Select one: a.The pricing needs to be increased at each stage in a product's life cycle. b.The pricing of new products needs to start out high and end low. c.The pricing needs to be adjusted at each stage in a product's life cycle. d.The pricing of new products needs to start out low and end high.

The pricing needs to be adjusted at each stage in a product's life cycle.

Which of the following statements about the marketing skills of great entrepreneurs is true? Select one: a.They demonstrate persistence in their strategies. b.They have a clear vision of what they want to achieve next. c.They are inattentive to details, focusing continually on the big picture. d.They have no fears.

They have a clear vision of what they want to achieve next.

The purpose of loss-leader pricing is to Select one: a.attract customers to new products. b.gain market share. c.allow for future price increases. d.maximize profit.

attract customers to new products.

The part of a patent application that defines and limits the patented invention is known as the a.illustration. b.claim. c.specification. d.concept.

claim

The part of a patent application that identifies the features that are protected is known as the a.identification. b.essence. c.particular. d.claim.

claim

Promotion links to which of the 4Cs of marketing? a.choice b.cocreated c.communities d.customizable

communites

Products or services that consumers make a special effort to find and purchase are _____ goods. Select one: a.convenience b.shopping c.generic d.specialty

specialty

The text of a patent application is known as the a.concept. b.value. c.particulars. d.specification.

specification

The registration of a trademark has a lifetime of a.the lifetime of the owner. b.10 years plus 10-year renewable periods. c.25 years. d.20 years plus 5-year renewable periods.

10 years plus 10-year renewable periods.

Which of the following statements regarding sole proprietorships is true? a.Ordinarily, the amount of capital available to proprietorships is equal to that available to other types of business organizations. b.Proprietorships have limited liability for the operation. c.A sole proprietorship is owned and operated by one person. d.Proprietorships are taxed as businesses.

: A sole proprietorship is owned and operated by one person.

Which of the following falls under Chapter 7 bankruptcy? .The debtor fails to file income taxes. b.The debtor is arrested. c.The debtor is relieved of obligations. d.The debtor surrenders most property to a court trustee.

The debtor is relieved of obligations.

The object of a patent is to provide the holder with a temporary monopoly on his or her innovation. True False

True

A series of short paragraphs, each of which identifies a particular feature that is protected by the patent, is known as a a.journal. b.plan. c.value. d.claim.

Claim

Marketing planning is the process of determining a clear, comprehensive approach to the creation of customers. True False

True

Once issued, the trademark is registered with the Patent and Trademark Office. True False

True