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Exam 9: Building a Bootstrap Marketing Plan

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Question 51

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Market research for a small business can be:

A) arbitrary.
B) informal.
C) random.
D) haphazard.

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Question 52

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The product or service offered is the foundation of any marketing-oriented business.

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Question 53

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Perhaps the worst of all marketing catastrophes is to have great advertising and a poor quality product or service.

One of the first steps in building a marketing plan is identifying a small company's ________,the group of customers at whom the company aims its products and services.

Individualized (or one-to-one)marketing is a system of gathering data on individual customers and then developing a marketing plan designed specifically to appeal to their needs,tastes,and preferences.

Almost everyone agrees that the price of the product or service is a key factor in the decision to buy.

Service companies tend to use the manufacturer-to-customer distribution channel more than any other.

John wants to answer the question,"What drives my customers' buying behavior?" The best information to address this question comes from:

Effective one-to-one marketing involves:

The ultimate goal of TQM is to avoid quality problems.

While market research is a sophisticated and complex process,the small business owner can conduct some of it for him/herself,but will need assistance interpreting it.

________ is the vehicle for gathering the information that serves as the foundation for the marketing plan.

One of the objectives of a bootstrap marketing plan is to find the ________ in the market.

What drives my customers' buying behavior? Are they receptive to new products or are they among the last to accept them? What values are most important to them? These questions are to identify:

Shifting patterns in the age,income,education,race,and other characteristics of the population are the subject of ________ and exert a potent force on a company's marketing plan.

The increasing diversity of our population is creating a marketing "threat" to small businesses because they can't profitably serve small niches.

A small company's promotional goals may include creating a brand image,persuading customers to buy,and/or to develop brand loyalty.

One "natural" advantage small businesses have over large businesses,which can be a significant competitive advantage,is:

The majority of customers who stop patronizing a particular store do so because:

The primary goal of marketing research is to: