Unit 4 Test Review Entrepreneurship

A customer profile is

• a collection of demographic data

• a detailed description of your target market's characteristics

• a detailed description of a single customer

• a collection of psychographic data

To sell your product to a mass market means

• to target as many consumers as possible with your marketing efforts

• to amass as many consumers as possible

• to choose the right target markets

• to use a small marketing budget

The value that a product or service offers can be tangible or intangible.

• True

• False

A marketing mix is created by mixing together the

• target market

• strategies

• five P's

• values

The marketing strategy "Place" refers to

• markups

• markdowns

• placing orders

• selling and delivery methods

Investors invest in ideas not people.

• True

• False

What does AIDA stand for?

• Attention, Introduction, Desire, Action

• Attention, Interest, Desire, Action

• Attention, Interest, Demand, Action

• Attention, Introduction, Demand, Action

What are the 5 P's?

• people, product, place, price, and promotion

• people, product, plan, price, and promotion

• people, product, place, process, and promotion

• people, product, place, price and presentation

A sale is closed when

• the salesperson asks for a commitment

• the product or service is delivered

• an order is placed

• the customer is satisfied and payment is made

The type of distribution that gives a retailer the sole right to sell a product is called

• intensive

• selective

• exclusive

• restrictive