MKTG-Exam Review

Entrepreneurism starts with and revolves around:

• a balance sheet
• an income statement
• an opportunity
• depreciation

An entrepreneurial opportunity presents itself as:

• a way to put big corporations out of business
• a solution to a problem
• technology implementation
• a stock to purchase

Successful entrepreneurs are ____________ about their solution to a problem.

• interested
• confused
• unclear
• passionate

An entrepreneur typically works less hours than employees.

• True
• False

Smart pricing strategy starts with understanding the market price.

• True
• False

Which words best complete the sentence? Marketing is a __________________ discipline of _________________ functions.

• multifacted, interrelated
• straightforward, competetive
• competetive, specialized
• specialized, flexible

To promote a product is to:

• inform potential customers that a product or service exists, and the results they should expect from using it
• hire more people, which creates more jobs, which increases tax revenues.
• engage in the process of collecting data about existing customers’ perceptions of the product and organization.
• to analyze and identify the needs and wants of customers, and build strategies to satisfy those needs and wants, better and more effectively than its competitors.

What does the term brand mean?

• What you sell
• The image of your business
• How you market

As you create your marketing plan, you should focus on what problem your product or service is solving and how it is different from your competition.

• True
• False

As you create your brand, you should never include your own personality as part of the company brand.

• True
• False