marketing (A)

You decide to create new type of energy bar. You take some samples to a focus group to get

their reactions to your product. Which stage of the development process are you in?

• Market Strategy Creation

• Concept Development

• Product Development

• Idea Generation

Which of the following expenses are a “Customer Retention Cost”?

• Engagement Programs

• Affiliate Programs

• SEO Marketing

• Training Programs

For a personal business opportunity, you will be required to go through more intensive training

than for a franchise opportunity.

• false

• true

The design thinking process is highly focused on using secondary research to develop solutions

to problems.

• false

• true

You need to create an operating budget for your business. Your financial information for the

month is as follows: Labor: $1,000 Materials: $4,000, Utilities: $400, Computer: $1,400, Rent

$700, Website Design $1,200, Insurance: $150. What is your monthly operating budget?

• $8,850

• $7,650

• $6,250

• $7,450

For third-party sellers, what are two marketing benefits of selling products on a marketplace?

• Access to the marketplace’s employees

• Access to the marketplace’s customer base

• Access to the marketplace’s market knowledge

• Access to the marketplace’s technology

Which two actions help start-up companies achieve product/market fit?

• Determining the primary competition

• Testing the Minimum Viable Product (MVP) prototype with customers

• Identifying underserved customer needs

• Hiring additional staff to handle exponential growth

What is the first step in forming a product/market fit hypothesis?

• Create a product prototype.

• Determine who the target customer is

• Establish a distribution system.

• Determine who the competition is

Distributors use their sales force to sell another company’s product.

• false

• true

Which two actions help start-up companies achieve product/market fit?

a. Determining the primary competition

b. Hiring additional staff to handle exponential growth

c. Identifying underserved customer needs

d. Testing the Minimum Viable Product (MVP) prototype with customers

• Determining the primary competition

• Testing the Minimum Viable Product (MVP) prototype with customers

• Hiring additional staff to handle exponential growth

• Identifying underserved customer needs