Entrepreneurship Ideas in Action Chapter 5

Which type of goals are will be more helpful in determining how to target your marketing?

The objective of every pricing strategy is to increase profits.

There is usually more than one price that can be charged for a product.

If a store sells snow shovels for half price in the middle of the summer, the store is offering customers a

which is NOT a marketing concept

The first step of the marketing concept is to

What is product mix?

The economy of the US is driven by this.

Pricing objectives should be developed only after prices have been set.

This type of pricing technique starts out with a low introductory price with a goal of building a strong customer base

What is a trademark?

Which economy is totally up to the consumer?

What does ROI stand for?

A business marketing plan should never be included in a business plan.

Psychological pricing, prestige pricing & price lining are all promotional pricing techniques.

Look at pic, identify two pricing techniques used

Name this Trademark.

Once an entrepreneur identifies his/her goals it's time to develop a

what is the major focus of the marketing concept

Creating an image for a product in the customer's mind is called

Markup and markdown prices are two methods of competition based pricing.

Product characteristics that will satisfy consumer needs are called

Establishing informal ties with people who can help your business grow is called

Product that is not branded.

A penetration pricing strategy

In marketing concept, whose opinion matters most?

Short term goals are what you want your business to achieve in the next month

Marketing links producers to

not all products have features

The process of selling your idea to a company for the development and launch of a new product is called