MANA 300 - Chapter 8 Questions and Answers

MANA 300 - Chapter 8 Questions and Answers 1. Marketing activities A. are sometimes overlooked by entrepreneurs B. are often overlooked by entrepreneurs C. are never overlooked by entrepreneurs D. are always overlooked by entrepreneurs A. are sometimes overlooked by entrepreneurs 2. A key element in a marketing plan is A. reflecting what the entrepreneur feels is right B. establishing the correct marketing mix C. using the entrepreneur's personal strengths D. emphasizing the negative aspects of the competition B. establishing the correct marketing mix Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More 3. Creating an easy to use product A. is a strategy for winning industry competitions B. doesn't overcome unreasonable pricing C. is a way to create value for customers D. provides feelings of financial accomplishment C. is a way to create value for customers 4. "Innovators" is used in the text to describe A. creative producers of new products B. new industries C. adaptations of existing products D. first customers D. first customers 5. Faster adoption rates can result from A. products that operate on both electric and battery power B. better delivery services C. good communication of a product's significant advantages D. good economic times C. good communication of a product's significant advantages 6. Distribution channel refers to A. the route used by a delivery service B. the path from producer to consumer C. the movement of raw materials through the production process D. the markets in which a company advertises it product or service B. the path from producer to consumer 7. Three general bases used for pricing in a small business are A. cost, demand, and competition B. packaging, location, and demand C. ease of use, special features, and demographics D. supply chain, cost, and hours of operation A. cost, demand, and competition 8. Most markets today tend to be A. price dependent B. price aware C. product focused D. price sensitive D. price sensitive 9. Value-based pricing depends on A. undercutting the price of competitor products B. associating product and benefits C. having loyal customers D. the cash flow needs of the business B. associating product and benefits 10. "Build a better mousetrap" refers to A. product design challenges B. a pricing strategy C. marketing to demographically mixed markets D. attracting significant numbers of customers D. attracting significant numbers of customers 11. The common theme of all forms of promotion is A. they are all successful to some extent B. they are fun C. they all cost money D. they all result in generating sales dollars C. they all cost money 12. Traditional promotion methods A. are sometimes not feasible for start ups B. are generally no longer used C. are usually used by small enterprises D. usually are not well received by the buying public A. are sometimes not feasible for start ups 13. Advertising is A. strong in developing awareness of a product B. weak in developing interest in a product C. weak in increasing desire to purchase a product D. medium in achieving product purchase A. strong in developing awareness of a product