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Entrepreneurship Chapter 4 Marketing Flashcards | StudBud
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Entrepreneurship Chapter 4 Marketing
Entrepreneurship Chapter 4 Marketing
30 terms
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Review of Market Your Business Chapter
Flashcards
30 cards
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Practice quiz
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Host live
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Questions
30
Answers
1
Information collected for the very first time to fit a specific purpose
primary data
secondary data
competitive analysis
channel of distribution
2
Radio advertising is less expensive than television promotion.
True
False
3
individuals or companies that are interested in a particular product or service
market share
direct competition
target market
advertising
4
All of the following are examples of secondary data EXCEPT
data collected from a focus group
newspaper articles
government publications
books about specific industries
5
Which of the following is an indirect competitor to Domino's Pizza
Papa John's Pizza
All of the above
McDonald's
Pizza Hut
6
Few businesses have indirect competitors.
False
True
7
A type of discount pricing offered to customers to encourage early payment of invoices
quantity discount
trade discount
seasonal discount
cash discount
8
The owner of a sporting goods store might describe his ___ as male, plays sports, wants quality
target market
competition
focus group
market share
9
A paid form of communication sent out by a business about a product or service
promotion
advertising
marketing
publicity
10
A business that makes most of its money selling the same or similar products or services
target market
indirect competition
promotion
direct competition
11
The act of offering an incentive to customers in order to increase sales
advertising
publicity
promotion
marketing
12
One reason that small businesses find it difficult to compete with large retailers is that
people who run large businesses are more skilled
large chains typically rely on one product line
large retailers are able to keep more stock on hand
merchandise at large retailers is superior quality
13
The different products and services a business sells
advertising
product mix
marketing mix
market share
14
Offering coupons is a form of promotion.
True
False
15
Customer characteristics such as tastes, opinions, and lifestyle habits are examples of
none of the above
psychographics
demographics
geographics
16
The most common type of primary market research is observation.
False
True
17
The name, symbol, or design used to identify a product is called
branding
packaging
positioning
bundling
18
Free promotion generating by media coverage
promotion
marketing
publicity
advertising
19
The routes that products take from the time they are produced to the time they are consumed
market share
marketing mix
channels of distribution
product mix
20
Entrepreneurs usually begin research of their target market using secondary data.
false
true
21
Identifying and examining the characteristics of a competing firm
competitive analysis
publicity
direct competition
indirect competition
22
Customer characteristics such as age, income, gender are examples of
psychographics
none of the above
geographics
demographics
23
Features are product characteristics that will satisfy customer needs.
True
False
24
A business's percentage of the total sales generating by all companies in the same market
marketing mix
market share
channel of distribution
promotion
25
Marketing is all of the processes used to determine and satisfy the needs of customers.
False
True
26
The most effective questionnaires are between five and ten pages in length.
False
True
27
A competitive analysis is used to
plan for advertising and promoting your business
evaluate direct and indirect competition
gather information from a focus group of potential customers
collect primary data about the target market
28
Telemarketing is the act of offering an incentive to customers in order to increase sales.
False
True
29
Television advertising
allows for keyword searches to find products
is the single largest form of advertising in the US
is less effective because the audience is too broad
is a low-cost way to reach large numbers of customers
30
Loyalty to a business develops because of positive experiences with a company.
True
False
