Management Entrepreneurship

Business

Quiz 11 :

Small-Busines-Marketing-Strategy-And-Research

Quiz 11 :

Small-Busines-Marketing-Strategy-And-Research

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Treating entire populations of people as potential customers for specific products is known as niche marketing.
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True False
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False

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Marketing is more than selling or advertising.
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True False
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True

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Whereas market segmentation tells a business owner who might buy the product,developing an understanding of consumer behavior is helpful to learn why people buy the product.
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True

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Characteristics or ways to group people which make them more likely to purchase a product are known as segmentation variables.
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Your sales forecast will affect all sections of your marketing plan.
True False
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Marketing strategies should state what should be accomplished and the process to be used to achieve that goal.
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The build-up method of forecasting sales begins with an estimate of the total market potential for a specific product or an entire industry.
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According to Peter Drucker,the two basic functions of business are marketing and innovation.
True False
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Cognitive dissonance is the feeling of internal satisfaction that follows a major purchase.
True False
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In order to identify the most attractive target markets for a business,characteristics that affect the buying behavior of people should be analyzed.
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The product alternatives that come into a consumer's mind when considering a purchase are called the elicited set.
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Marketing research links marketers to suppliers.
True False
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Two factors leading to more individualized marketing are clutter and technology.
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Business began adopting the marketing concept in the 1970s.
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Market segmentation is the process of dividing the total market for a product into identifiable groups or target markets.
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One of the major advantages that large businesses have over small businesses is close customer contact.
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Purple cows represent the creation of a competitive advantage.
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Marketing objectives can be broken into two groups; marketing performance objectives and marketing support objectives.
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The final step in the consumer purchase decision-making process is the actual purchase.
True False
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Niche marketing occurs when the marketing mix is adjusted to treat individual persons as separate target markets.
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