stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Entrepreneurship - Chapter 5 Flashcards | StudBud
Explore
/
Entrepreneurship - Chapter 5
Entrepreneurship - Chapter 5
20 terms
·
StudBud Administration
·
324 plays
Imported from external platform
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
Good marketers know that a(n) ________ is the heart of the marketing plan.
D) price/profit schedule
A) researching suppliers
C) analysis of the market
B) sales forecast
2
________ is promotion that combines education and entertainment to make a more lasting impression upon an audience.
A) Marketing
D) Cause-related marketing
B) Word-of-mouth marketing
C) Edutainment
3
Marketing should not be budgeted as a % of sales but rather as money that's needed to drive sales. It's part of business
D) intermediate costs
A) variable costs
B) sales forecast
C) fixed costs
4
What is the smartest price strategy?
D) Find the lowest cost products from your suppliers.
B) Pick a pricing strategy that is different from the competition's strateg
C) Offer the lowest price that you can afford to offer.
A) Choose a pricing strategy that incorporates the psychology of pricing.
5
________ is free (non-purchased) mention of your business or brand in newspapers, magazines, radio or TV.
A) Publicity
B) Advertising
D) Product marketing
C) Promotion
6
________ advertising provides information about an organization and is intended to create awareness about the firm.
C) Bulk
B) Trade
A) Product
D) Institutional
7
Promotion consists of ________.
C) publicity
B) advertising
D) All of the above.
A) devices such as discount coupons and giveaways
8
Ford's Edsel is an example of a product that failed because it lacked ________.
D) options
A) name recognition
C) competitiveness
B) focus
9
Which of the following is
not
an example of successful branding?
C) Customers confuse a business's logo with that of another business.
B) Customers associate a product with high ethical standards.
A) A product represents luxury to customers.
D) Associate your company with a charity.
10
________ pricing is offering "more for less" by underscoring a product's quality, while at the same time featuring its p
D) Value
C) Penetration
A) Prestige
B) Cost-plus
11
Marketing inspired by a commitment to a social, political or environmental issue is called ________.
B) philanthropy
D) person marketing
C) cause-related marketing
A) socially responsible business
12
To break even, a business must ________.
A) sell enough units to cover all its costs
B) sell enough units to cover its fixed costs
D) sell enough units to cover variable costs
C) sell enough units to earn a profit
13
Which of the following is one of the four Ps of marketing?
B) publicity
C) product
A) population
D) packaging
14
The key to building a successful brand is to focus tightly on the primary benefit you want customers to associate with.
True
False
15
________ is the use of advertising and publicity to get your marketing message out to your customers.
D) Imagery
A) Communication
B) Marketing
C) Promotion
16
Pricing strategies include ________.
D) All of the above.
A) penetration
C) cost plus
B) skimming
17
When you build a brand, try to focus tightly on one key ________.
B) benefit
A) feature
C) product
D) product line
18
What is a banner ad?
B) an ad attached to the back of an airplane
C) an ad that runs in the newspaper
A) an ad that runs on a Web site
D) an ad that is attached to an email
19
Finding a retail site that has more than ample parking, excellent access and walk-in trade potential is ex. of Ps?
D) place
A) promotion
C) product
B) price
20
________ is an announcement sent to the media to generate publicity.
A) A press release
B) Advertising
D) Public relations
C) A sales promotion
