WorksheetsUnit 4 Test Review Entrepreneurship
Total questions: 35
Worksheet time: 18mins
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
A group of specific promotional activities built around a particular theme or goal is called a
promotional campaign
community event
contest
none of the above
This is the limited amount of customers who are most likely to buy a specific product or service.
marketing
target market
demographics
market segments
Market segments based on where consumers live or where businesses are located.
demographics
geographics
psychographics
value
The relative worth of something - money.
value
demand based pricing
value proposition
cost-based pricing
Small group within a target market that has one or more things in common.
market segments
target market
demographics
geographics
Company that sells to other companies.
B2B Companies
B2C Companies
BRB Companies
BRC Companies
Short statement that summarizes all the benefits a company gives to its customers.
marketing
value proposition
market segments
value
Objective social and economic facts about people.
geographics
psychographics
demographics
target market
Way of presenting your business to your customers that clearly communicates the value of your product or service.
B2B Companies
B2C Companies
marketing
target market
Pricing method that sets a product's price based on what it costs the business to provide it.
demand-based pricing
cost-based pricing
value
marketing
Pricing method that focuses on how much customers are willing to pay for a product.
demand-based pricing
cost-based pricing
value pricing
sale pricing
Person or company with many of the characteristics of your target market.
prospect
rapport
sales force
manager
Emotional connection between people based on feelings of mutual respect and trust.
rapport
elevator pitch
referral
AIDA
A business pitch succinct enough to be completed in 30 seconds.
AIDA
elevator pitch
prospect
rapport
Popular communication model used by companies to manage their promotions.
AIDA
visual merchandising
promotional mix
product placement
Use of artistic displays to promote products and attract customers.
visual merchandising
product placement
elevator pitch
360 degree marketing
Company pays a fee to have a product displayed during a movie or television show.
visual merchandising
promotional mix
360 degree marketing
product placement
Combination of promotional elements that a business chooses.
promotional mix
product placement
referral
visual merchandising
Marketing that communicates with your prospects and customers from all directions.
360 degree marketing
product placement
visual merchandising
publicity
Form of promotion for which a company does not pay.
publicity
360 degree marketing
product placement
visual merchandising
One person providing contact information for another who may be interested in your product/service.
referral
cold call
data mining
publicity
Loving country music is an example of a
demographic
psychographic
buying pattern
customer profile
What does SMART in SMART GOALS mean?
Short-range, measurable, attainable, realistic, timely
Specific, measurable, achievable, realistic, timely
Specific, marketable, attainable, realistic, timely
Specific, measurable, achievable, realistic, telemarketing
Which of the following is not considered a one-to-one promotional strategy?
telemarketing
direct mail
magazine advertisements
personal selling
Which of the following is not considered a product feature?
quiet
colorful
soft
fun
