Marketing for Entrepreneurs | 522 plays

1.

Multiple Choice

1 min

1 pt

This is the process through which goods and services are created and provided to the customer:

production

marketing

merchandising

selling

2.

Multiple Choice

1 min

1 pt

Marketing is known as the creation and maintenance of satisfying _______________ relationships.

selling

exchange

3.

Multiple Choice

2 mins

1 pt

Which of the following statements BEST describes where marketing takes place?

Marketing is limited to certain places and times during the day.

Marketing takes place everywhere and is a constant force in our lives.

Marketing takes place at some public places but not all and usually goes unnoticed.

Marketing takes place exclusively in a central marketplace.

4.

Multiple Choice

2 mins

1 pt

Which of the following is a FALSE statement about marketing?

To be successful in business requires that businesses be marketing oriented.

Most of the businesses in the U.S. are involved in marketing.

Non-profit organizations, such as Arkansas Children’s Hospital, use marketing.

Events, such as the Crooked Creek Crawdad Days music festival, use marketing.

5.

Multiple Choice

1 min

1 pt

The combination of the four basic marketing decisions - product, place, price, and promotion:

marketing mix

target marketing

marketing concept

demographics

6.

Multiple Choice

30 sec

1 pt

This is anything offered to a market by the business to satisfy needs, could include a physical good or an intangible service.

product

price

place

promotion

7.

Multiple Choice

1 min

1 pt

The locations and methods used to make the product available to customers:

product

price

place

promotion

8.

Multiple Choice

1 min

1 pt

This is the amount the customer will pay for the product. The value of money or its equivalent placed on a good or service.

product

price

place

promotion

9.

Multiple Choice

1 min

1 pt

This is any form of communication a business or organization uses to inform, persuade, or remind consumers about its products or services.

product

price

place

promotion

10.

Multiple Choice

2 mins

1 pt

This means satisfying customer's wants and needs while making a profit. It is a company-wide consumer orientation.

promotional concept

marketing concept

promotional concept

revenue generating concept

11.

Multiple Choice

2 mins

1 pt

They can have it in any color they want, as long as its black.” This quote explains why this famous automobile company almost went out of business in the 1920’s.

The Ford Motor Company

The John Deere Company

The Chrysler Corporation

General Motors

12.

Multiple Choice

1 min

1 pt

This marketing strategy focuses on developing loyal customers who continue to purchase from the business for a long period of time.

Relationship Marketing

Community Marketing

13.

Multiple Choice

2 mins

1 pt

Using entertainment or news to get people to talk about a company, product, brand, idea, or cause. The message is then passed from consumer to consumer using social media - sometimes called word-of-mouth.

product seeding

social media marketing

viral marketing

guerrilla marketing

14.

Multiple Choice

2 mins

1 pt

Achieving conventional goals with unconventional methods, such as investing energy & creativity instead of money.

product seeding

social media marketing

viral marketing

guerrilla marketing

15.

Multiple Choice

2 mins

1 pt

Placing the right product in the right hands at the right time and providing information or samples to influential individuals.

product seeding

social media marketing

viral marketing

guerrilla marketing

16.

Multiple Choice

2 mins

1 pt

Many businesses use Facebook, Twitter, YouTube, or Instagram to communicate with customers. This is referred to as:

product seeding

social media marketing

viral marketing

guerrilla marketing

17.

Multiple Choice

2 mins

1 pt

Hiring someone to wear a Statue of Liberty costume to stand on a busy street corner to promote the entrepreneur’s new business is an example of:

product seeding

social media marketing

viral marketing

guerrilla marketing

18.

Multiple Choice

2 mins

1 pt

Shark Tank is a reality TV program that allows entrepreneurs to pitch their business ideas to a panel of venture capitalists. What is a venture capitalist?

investor

banker

judge

lawyer

19.

Multiple Choice

2 mins

1 pt

Why do so many entrepreneurs REALLY want to be on the show Shark Tank?

Because the panel of venture capitalist might want to buy the product.

Because friends and family members will be impressed with the sales pitch.

Because an appearance on the show is worth millions of dollars in free marketing.

Because it is an opportunity to practice the sales pitch in front of good judges.

20.

Multiple Choice

2 mins

1 pt

This is the coordination of all the physical elements that are used to project the right brand image to customers. Think about the physical appearance of a restaurant like Hard Rock Café.

personal selling

industrial marketing

cross merchandising

visual merchandising

21.

Multiple Choice

2 mins

1 pt

This is the practice of displaying products from different categories together, in order to generate additional sales from both. Think about a display of mustard above a display of hot-dogs.

personal selling

industrial marketing

cross merchandising

visual merchandising

22.

Multiple Choice

2 mins

1 pt

This is the rivalry among businesses for consumers’ dollars.

Marketing

Competition

Personal Selling

Visual Merchandising

23.

Multiple Choice

2 mins

1 pt

When an entrepreneur decides on a marketing strategy that emphasizes how inexpensive their product is when compared to other competing products:

non-sales competition

sales competition

price competition

non-price competition

24.

Multiple Choice

2 mins

1 pt

When the entrepreneur markets a new product that emphasizes how unique and special the product is and that other businesses have nothing like it:

non-sales competition

sales competition

price competition

non-price competition

25.

Multiple Choice

1 min

1 pt

Entrepreneurs must seek strategies and methods that will differentiate them from current competitors and potential future competitors.

True

False

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