Entrepreneurship Unit 3

Marketing strategies are designed and implemented for the overall purpose of which action? 

• Achieving planned goals 
• Increasing business profits immediately 
• Changing the image of the business 
• Improving management techniques 

Which is a consideration in the place element of marketing? 

• Choosing distribution channels 
• Using sales promotion 
• Extending credit to customers 
• Offering warranties or guarantees 

Proctor and Gamble's decision to offer different types of soaps in a wide range of prices is an example of which strategy? 

• Market segmentation 
• Geographic segmentation 
• Industrial marketing 
• Direct marketing

When sellers offer one­-size-­fits-­all products that will appeal to most buyers, they are using which strategy? 

• Mass marketing 
• Mass production 
• Demographic segmentation 
• Market segmentation 

Before producing and selling a product, which action should marketers do first? 

• Identify the market for the product 
• Select a channel of distribution 
• Set up a promotional plan 
• Determine the price of the product 

Companies have been forced to pay more attention to the specific needs of consumers because of which factor? 

• Competition 
• Automation 
• Merchandising 
• Advertising

Which situation presents a business threat to a company? 

• A competitor obtains a bank loan for expansion. 
• A competitor recalls a defective product. 
• The government reduces interest rates.
  
• Sale for a specific product increases. 

What section of the marketing plan includes information about expected results? 

• Performance and implementation 
• Appendix 
• Situation analysis 
• Desired target market 

Which item might be included in the appendix of a marketing plan? 

• A product photograph 
• A SWOT analysis chart 
• A mission statement 
• A list of marketing objectives 

Which should be included in the executive summary of a marketing plan? 

• A mission statement 
• A description of the target market(s) 
• The names and numbers of marketing team members 
• A SWOT analysis chart