Define Channel from a marketing perspective.

Sharing your value propositon with others.

The way you "turn" out your product to the public

Using boats on a body of water.

Which statement accurately desribes why an entrepreneur should understand the concepts of branding?

Branding provides the product with a recognizable identity.

Branding will help your competitors realize you mean business.

Branding is only done at the onset of your business.

Branding is costly and should be scrutinized before embarking on branding endeavors.

Customer Relationships are critical to an entrepreneurs success. Which statement below is false.

Customer relationships are easy to create and maintain.

There are many ways to create a positive customer relationship.

Customers will "return" if they trust the entrepreneur and like their product.

Relationships take time to cultivate, and, if nurtured can be lasting.

Which is the most important difference between primary and secondary market research or data?

Primary market research is designed with a specific outcome in mind and is often expensive to collect and analyze. It is collected directly from the source.

Secondary market research is designed with a specific outcome in mind and is often expensive to collect and analyze. It is collected directly from the source.

Primary market research is readily available data from external resources such as the U.S. Census or prior surveys and research. The data is based on source data but may be derived.

Secondary market research is readily available data from external resources such as the U.S. Census or prior surveys and research. The data is based on source data but may be derived.

Select the best definition for: Demographics

Who your customer is, including age, gender, ethnic background, income level, marital status.

Why your customers buy, including attitudes and beliefs, lifestyle, interests, hobbies, social status or identify

How your customers buy and how they intend to use your product, including understanding of their needs versus wants, spending patterns, brand preferences, and how they are influenced by advertising

Where your customers live, including city versus urban communities, international or domestic based.

Select the best definition for: Psychographics

Why your customers buy, including attitudes and beliefs, lifestyle, interests, hobbies, social status or identify

Who your customer is, including age, gender, ethnic background, income level, marital status.

How your customers buy and how they intend to use your product, including understanding of their needs versus wants, spending patterns, brand preferences, and how they are influenced by advertising

Where your customers live, including city versus urban communities, international or domestic based.

Select the best definition for: Buying Behavior

How your customers buy and how they intend to use your product, including understanding of their needs versus wants, spending patterns, brand preferences, and how they are influenced by advertising

Who your customer is, including age, gender, ethnic background, income level, marital status.

Why your customers buy, including attitudes and beliefs, lifestyle, interests, hobbies, social status or identify

Where your customers live, including city versus urban communities, international or domestic based.

Customer Segments refers to __________________.

Who you believe will benefit from your value proposition, also known as your target market.

The critical relationships built with potential customers that will translate to sales and increase your customer base.

The places, or segments, where you will place your products in order to best reach customers.

The database of important contact information that will enable you to keep in constant contact with customers about promotions and new product availability.

BizInnovator Startup - Know Your Customer

Authored by Jacobson Institute

Business

9th - 12th Grade

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BizInnovator Startup - Know Your Customer

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17 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the 4 "P's" of marketing pertains to advertising?

Promotion

Place

Price

Product

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement provides a valuable assumption about the use of Customer Discovery?

provides an entrepreneur with imporant information about their product.

is a waste of time.

should only be conducted once.

hinders an entrepreneur in the start up process.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Target Markets can be everyone.

false

true

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the 4 "P's" of marketing deals with financial aspects of your product?

Price

Promotion

Place

Product

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What role do customers play in the success of a product/business?

Customers must like the business idea and be willing to use/purchase the product.

Customers do not play a vital role in the success of the product.

Customers are generally clueless about products.

Customers come and go. No need to keep the same people as a customer.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following resources could provide you with Secondary Research Data?

Trade Magazines

Focus Groups

Online Surveys

Customer Interviews

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do the letters MVP stand for in Entrepreneurship?

Minimum Viable Product

Maximum View Potential

More Ventures Pro

My Viable Price

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