Question 1

The simplest approach to gathering primary information is:

Accepted Answer

A)  observation.
B)  focus groups.
C)  experimentation.
D)  interviewing.

Question 2

Which form of promotion is too expensive for most entreprenuers to use?

Accepted Answer

A)  TV
B)  Print Ads
C)  Radio
D)  Webpage

Question 3

Information that already exists is called:

Accepted Answer

A)  secondary datA.
B)  primary data.
C)  marketing data.
D)  target data.

Question 4

The marketing mix consists of:

Accepted Answer

A)  product,price,research,and promotion.
B)  product,research,distribution,and promotion.
C)  product,price,distribution,and promotion.
D)  product,price,distribution,and research.

Question 5

The marketing system identifies the major interacting components,both internal and external to the firm.

Accepted Answer

A) True 
 B)False

Question 6

The marketing plan is not meant to be a commitment by the entrepreneur to a specific strategy.

Accepted Answer

A) True 
 B)False

Question 7

Which stage of marketing research is considered to be the most difficult for an entrepreneur due to lack of knowledge or experience in marketing?

Accepted Answer

A)  Analyzing and interpreting the results
B)  Gathering data from primary sources
C)  Gathering data from secondary sources
D)  Defining the purpose or objectives

Question 8

Major considerations in channel of distribution selection include degree of directness and number of channel members.

Accepted Answer

A) True 
 B)False

Question 9

Once the marketing goals and objectives have been established,the entrepreneur can begin to develop the __________ and __________ to achieve them.

Accepted Answer

A)  marketing plan,industry analysis
B)  marketing mix,consumer research
C)  marketing strategy,action plan
D)  market research,industry analysis

Question 10

If the entrepreneur is constantly faced with significant changes in the marketing strategy,then it is likely that:

Accepted Answer

A)  there is insufficient monitoring of the plan.
B)  the plan was not prepared properly.
C)  the business marketing effort does not support the strategy.
D)  there have been too many external factors that were difficult to predict.

Question 11

Manufacturer's representatives are marketing middlemen that:

Accepted Answer

A)  take title and physical possession of the product.
B)  take physical possession of the product.
C)  work exclusively for the entrepreneur.
D)  are paid a commission when a sale is made.

Question 12

Financial resources and the management team are both examples of the:

Accepted Answer

A)  external environment.
B)  marketing mix decision variables.
C)  internal environment.
D)  feedback system.

Question 13

An updated marketing plan should be prepared by the entrepreneur every two years.

Accepted Answer

A) True 
 B)False

Question 14

Marketing research begins with:

Accepted Answer

A)  setting the advertising budget.
B)  definition of objectives or purpose.
C)  identifying direct marketing strategy.
D)  collecting a list of primary and secondary sources of information.

Question 15

Which survey method results in the worst response rate?

Accepted Answer

A)  Telephone
B)  Mail
C)  Personal
D)  Internet

Question 16

Which of the following is not a major question that should be addressed by the marketing plan?

Accepted Answer

A)  Where have we been?
B)  Where do we want to go in the short term?
C)  Where do we want to go in the long term?
D)  How do we get there?

Question 17

Defining the purpose or objectives of marketing research is often the most difficult stage for an entrepreneur.

Accepted Answer

A) True 
 B)False

Question 18

Private data sources,such as Information Resources,Inc.and Nielsen Indexes,are a low-cost secondary data source.

Accepted Answer

A) True 
 B)False

Question 19

_____ is the process of gathering information in order to determine who will buy the product and what is the most appropriate distribution channel.

Accepted Answer

A)  Market segmentation
B)  Marketing planning
C)  Market mixing
D)  Marketing research

Question 20

Which of the following is (are) not a key element in the pricing strategy?

Accepted Answer

A)  Cost
B)  Margin or markup
C)  Competition
D)  Distribution

Exam 8: The Marketing Plan

If the entrepreneur is constantly faced with significant changes in the marketing strategy,then it is likely that:

Correct AnswerverifiedShow Answer

The simplest approach to gathering primary information is:

Correct AnswerverifiedShow Answer

Manufacturer's representatives are marketing middlemen that:

Correct AnswerverifiedShow Answer

The marketing mix consists of:

Correct AnswerverifiedShow Answer

Which of the following is (are) not a key element in the pricing strategy?

Correct AnswerverifiedShow Answer

Financial resources and the management team are both examples of the:

Correct AnswerverifiedShow Answer

Major considerations in channel of distribution selection include degree of directness and number of channel members.

Correct AnswerverifiedShow Answer

Private data sources,such as Information Resources,Inc.and Nielsen Indexes,are a low-cost secondary data source.

Correct AnswerverifiedShow Answer

The marketing plan is not meant to be a commitment by the entrepreneur to a specific strategy.

Correct AnswerverifiedShow Answer

_____ is the process of gathering information in order to determine who will buy the product and what is the most appropriate distribution channel.

Correct AnswerverifiedShow Answer

Information that already exists is called:

Correct AnswerverifiedShow Answer

Which form of promotion is too expensive for most entreprenuers to use?

Correct AnswerverifiedShow Answer

An updated marketing plan should be prepared by the entrepreneur every two years.

Correct AnswerverifiedShow Answer

Once the marketing goals and objectives have been established,the entrepreneur can begin to develop the __________ and __________ to achieve them.

Correct AnswerverifiedShow Answer

Defining the purpose or objectives of marketing research is often the most difficult stage for an entrepreneur.

Correct AnswerverifiedShow Answer

Which stage of marketing research is considered to be the most difficult for an entrepreneur due to lack of knowledge or experience in marketing?

Correct AnswerverifiedShow Answer

Which of the following is not a major question that should be addressed by the marketing plan?

Correct AnswerverifiedShow Answer

Which survey method results in the worst response rate?

Correct AnswerverifiedShow Answer

Marketing research begins with:

Correct AnswerverifiedShow Answer

The marketing system identifies the major interacting components,both internal and external to the firm.

Correct AnswerverifiedShow Answer

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Once the marketing goals and objectives have been established,the entrepreneur can begin to develop the and to achieve them.

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