BUSINESS: 100% ENTREPRENEURSHIP AND INNOVATION EXAM WITH SOLUTIONS
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Course
BUSINESS ADMINISTRATION
Institution
BUSINESS ADMINISTRATION
The marketing concept emphasizes that the survival of any business depends on providing service tocustomers.
True
False
Test marketing is the systematic gathering, recording, and analyzing of data relating to the marketing ofgoods and services.
True
False
The marketing concept states that a f...
Small businesses should carry out primary market research on their own instead of hiring experts to do
it.
True
False
8.
What is database marketing?
Database marketing is a tool that is used by many firms. Database marketing is a quick and efficient
process for acquiring customers that involves obtaining meaningful consumer information; analyzing
this information; and making marketing decisions. Business owners choosing this technique must have
someone either on staff or available with the technology know-how to keep the system up and running.
Computer programs hooked to a phone with Caller ID can create a database that can increase
efficiency, enhance security, control inventory, improve marketing, and simplify contacts with
customers.
9.
John wants to start his own fruit juice and beverage company. He is aware of the large number of
competitors in this industry and of the fact that his product should not be very costly. To differentiate his
product from that of his competitors, he decides to sell his beverages in specially designed containers
that keep the juice fresh for 7 days even without refrigeration. John is focusing on the _____
component of the marketing mix.
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