Question 1
- One-to-one marketing is a marketing strategy that:
gathers data on individual customers and then tailors an appeal to their needs and tastes.
uses technology to make customers feel like they are being treated special.
focuses on the use of personal selling and consultative advising of customers.
relies heavily on geographic data but ignores demographic and psychographic data.
2 points
Question 2
- The key to marketing success is:
economy of scale in promotion by creating broad-based ad campaigns.
understanding customers’ unique needs, wants and preferences.
the use of direct-marketing and e-commerce.
catering to teenagers.
2 points
Question 3
- ________ refers to developing, maintaining, and managing long-term relationships with customers so that they will want to keep coming back.
Customer relationship management
Customer retention management
Customer management software
Customer reassurance management
2 points
Question 4
- One “natural” advantage small businesses have over large businesses, which can be a significant competitive advantage, is:
relationship marketing.
their ability to conduct market research.
their lower costs.
their ability to serve many highly diverse target markets.
2 points
Question 5
- Which strategy allows a small company to maximize the advantages of its smallness and to compete effectively even in industries dominated by giants?
Grand market strategy
Mass strategy
Niche strategy
None of the above
2 points
Question 6
- Under ________, a manufacturer splits the cost of advertising with a small retailer if the retailer features its product.
cooperative advertising
shared advertising
direct advertising
integrated marketing
2 points
Question 7
- The most commonly used method of establishing an advertising budget for a small business is:
a percentage of sales.
spending what competitors spend.
objective-and-task method.
what is affordable.
2 points
Question 8
- ________ is any sales presentation that is nonpersonal in nature and is paid for by an identified sponsor.
Promotion
Advertising
Personal selling
Publicity
2 points
Question 9
- Tactics that can help an entrepreneur stimulate positive publicity for the firm are:
writing news releases and faxing them to the media.
sponsoring a community project.
promoting a cause.
All of the above
2 points
Question 10
- The key to the success of direct mail advertising is:
designing the right envelope.
the accuracy of the customer mailing list.
creative use of color and photographs in the mailing.
using key words such as “free,” “hurry,” and “savings.”
2 points
Question 11
- When a small business owner doesn’t want to make a pricing decision, he/she can use a(n) ________ pricing strategy.
price lining
suggested retail
opportunistic
multiple unit
2 points
Question 12
- Many small business owners use a ________ strategy to move stale, damaged, or slow moving goods or to encourage shoppers to purchase merchandise before an upcoming season.
multiple pricing
opportunistic pricing
discount pricing
price lining
2 points
Question 13
- Probably the most important consideration a manufacturer has when setting the final price of its new exclusive perfume is:
the perfume’s production cost.
competitor’s prices.
the image the company wants to create for the scent in the customer’s mind.
choosing between odd pricing and price lining.
2 points
Question 14
- The Omega Company introduces products with a higher-than-normal price in an effort to quickly recover the initial developmental and promotional costs of the product. The Omega Company is pursuing a ________ pricing strategy.
fixed-price
skimming
penetration
loss leader
2 points
Question 15
- ________ is a technique which greatly simplifies the pricing function by setting the same price for items with similar characteristics.
Odd pricing
Leader pricing
Price lining
Geographical pricing
2 points
Question 16
- ________ is a trend where people test products in retail stores but buy them online.
Showboating
Commoditizing
Onlining
Showrooming
2 points
Question 17
- The ________ is the cost a company incurs to generate each purchase.
CTA
CPA
CSA
CMA
2 points
Question 18
- For many entrepreneurs, the barrier for launching e-commerce is:
where and how to start an e-commerce effort.
lack of funding.
lack of IT staff.
Both B and C
2 points
Question 19
- Which of the following statements is true for improving a company’s search placement results?
Visit competitors’ sites for key word ideas, but avoid using the exact phrases.
Consider using less obvious key words and brand names.
Ask customers which words and phrases they use when searching for the products and services the company sells.
All of the above
2 points
Question 20
- E-Commerce requires a basic infrastructure somewhere in the channel of distribution to process orders, maintain inventory, ________, and handle customer service.
fill orders
process e-mail
technology
All of the above
