ESB Marketing & Sales

Which of the following are examples of secondary data? Select all that apply.

• Results of a survey you conducted

• Information you received from a focus group

• An encyclopedia entry you read

• Videos you watched that were published by business news organizations

• Industry specific journals that you read

Answer explanation

Secondary data includes information collected by others. An encyclopedia entry, business news videos, and industry journals are all examples of secondary data, as they provide insights from previously conducted research or publications.

Which of the following statements about direct competition is true?

• A direct competitor sells something different but satisfies the same customer need.

• A direct competitor sells the same thing as you.

• The only competition you need to worry about is direct competition.

• All businesses are your direct competitor.

Answer explanation

A direct competitor is defined as a business that sells the same products or services as you. This makes the statement 'A direct competitor sells the same thing as you' the correct choice, as it accurately describes direct competition.

Which of the following statements about SWOT analysis are true? Select all that apply.

• A. It is easy to act upon threats that come from changes in the economy.

• B. It is easy to act upon opportunities that arise in everyday life.

• C. It is easy to build upon existing strengths.

• D. It is easy to strengthen the weaknesses we observe.

• E. Being flexible is important when dealing with unforeseen threats.

Answer explanation

Opportunities in everyday life (B) and existing strengths (C) are generally easier to act upon. Flexibility (E) is crucial for adapting to unforeseen threats, while threats and weaknesses are often more challenging to address.

Which of the following marketing platforms are offline? (Choose two.)

• A. Newspaper ads

• B. E-mail

• C. Google ads

• D. Social Media

• E. Flyers/pamphlets

Answer explanation

Newspaper ads and flyers/pamphlets are offline marketing platforms, as they do not require internet access. In contrast, e-mail, Google ads, and social media are all online platforms.

You have opened an indoor dog agility course and you want to advertise to potential customers in your area. Which marketing method would be most effective?

• A. National Newspaper

• B. E-mail

• C. Twitter

• D. Local TV ad

Answer explanation

A local TV ad is most effective for advertising an indoor dog agility course, as it targets the local community directly, reaching potential customers who are likely to be interested in such activities for their pets.

A local baker wants to analyze market reactions to a new cake they started selling this week. They advertise, including highlighting their new items, using social media and email. Which would be the most effective way for that baker to gather customers' reactions to the new cake?

• Focus Groups

• Interviews

• Surveys

• National Polls

Answer explanation

Surveys are the most effective way for the baker to gather customer reactions as they can reach a larger audience quickly and efficiently, allowing for quantitative analysis of feedback on the new cake.

A tailor gained 50 new customers last year. Business costs were as follows: Marketing costs: $500 Sales costs: $500 Salaries: $120,000 Materials for tailoring: $5000 What was the customer acquisition cost?

• $10

• $20

• $40

• $2400

Answer explanation

To find the customer acquisition cost, divide total marketing and sales costs by the number of new customers. Total costs are $500 + $500 = $1000. Thus, $1000 / 50 customers = $20 per customer, which is the correct answer.

Which of the following are marketing plan segments? Select all that apply.

• Retention rate

• Psychographics

• Behavioral

• Employee numbers

• Geographics

Answer explanation

Marketing plan segments include Psychographics, Behavioral, and Geographics, which focus on consumer characteristics and behaviors. Retention rate and Employee numbers are not segments of a marketing plan.

Which of the following statements about digital and physical sales channels are true? Select all that apply.

• Digital sales channels include websites.

• Digital sales channels do not include customer portals.

• Physical sales channels include people who make a sale at a person's home.

• Physical and digital sales channels are both used to close sales.

Answer explanation

Digital sales channels include websites, while physical channels can involve in-person sales, such as at a customer's home. Both types of channels are essential for closing sales.

Which tool unifies all the information about a business's customers in one place?

• E-mail

• Live chat

• Telephone

• CRM system

Answer explanation

A CRM system (Customer Relationship Management) centralizes all customer information, interactions, and data in one place, making it easier for businesses to manage relationships and improve customer service.