Question 1

Link the following entrepreneurial marketing techniques to the cases that illustrate their use.
-Co-creation of customer value.
A) Adnan Awan
B) Victoria Tomlinson
C) Tim Lockett
D) Steve Woodford

Accepted Answer

The answer of Link the following entrepreneurial marketing techniques to...

Question 2

Link the following entrepreneurial marketing techniques to the cases that illustrate their use.
-Building and refining social networks.
A) Adnan Awan
B) Victoria Tomlinson
C) Tim Lockett
D) Steve Woodford

Accepted Answer

Victoria Tomlinson's case illustrates the use of building and refining social networks as a key entrepreneurial marketing technique. She leveraged her connections and network to grow her business, demonstrating the importance of social networks in entrepreneurship.

Question 3

Link the following entrepreneurial marketing techniques to the cases that illustrate their use.
-Establishing personal credibility.
A) Adnan Awan
B) Victoria Tomlinson
C) Tim Lockett
D) Steve Woodford

Accepted Answer

Adnan Awan established personal credibility by leveraging his background as a lawyer and accountant to people trust him with their finances, as demonstrated in the case study.

Answer: B and D 
 Both Victoria Tomlinson and Steve Woodford were able to establish personal credibility through their industry experience and knowledge. Tomlinson's case study highlighted her expertise in the financial services sector, while Woodford's case study showcased his understanding of the sports marketing industry.

Answer: C 
 Tim Lockett's case study did not illustrate the use of establishing personal credibility as an entrepreneurial marketing technique.

Question 4

Link the following entrepreneurial marketing techniques to the cases that illustrate their use.
-Co-ordinating value constellation.
A) Adnan Awan
B) Victoria Tomlinson
C) Tim Lockett
D) Steve Woodford

Accepted Answer

The answer of Link the following entrepreneurial marketing techniques to...

Question 5

Match these approaches to marketing with their descriptions.
-Marketing research, market segmentation, product positioning and brand management.
A) New marketing approaches
B) Mainstream marketing approaches

Accepted Answer

These approaches - marketing research, market segmentation, product positioning, and brand management - are considered mainstream marketing approaches because they are fundamental strategies that have been used extensively over time to understand, target, and manage market opportunities.

Question 6

Match these approaches to marketing with their descriptions.
-You work together with customers to create ideas, communities, events and lifestyles.
A) New marketing approaches
B) Mainstream marketing approaches

Accepted Answer

This approach is known as co-creation marketing, which is a newer approach to marketing that involves collaborating with customers to create unique marketing strategies.

Question 7

Match these approaches to marketing with their descriptions.
-Use of developments in psychology and the social sciences to develop new ways of analysing and exploiting different consumer preferences and behaviours.
A) New marketing approaches
B) Mainstream marketing approaches

Accepted Answer

The answer of Match these approaches to marketing with their...

Question 8

Match these approaches to marketing with their descriptions.
-Customer relations management (CRM) and direct marketing including the use of communications technologies, such as social media.
A) New marketing approaches
B) Mainstream marketing approaches

Accepted Answer

Customer relations management (CRM) and direct marketing using new technologies like social media are considered newer approaches to marketing. They focus on building relationships with individual customers and utilizing technology to personalize marketing efforts.

Question 9

This question should be completed after reading the Introduction to Chapter Five. Complete the following sentences by choosing the appropriate selection for each gap.
Two competencies for marketing (in large organizations) are, ______ and ______. The management of entrepreneurial marketing is characterized by ______, ______, ______.

Accepted Answer

The answer of This question should be completed after reading...

Question 10

Fill in the gaps below.
To be competitive an enterprise needs to add ______, as ______ by its customers, by the ______. Any venture will have a wide range of processes that cover everything from legal 'terms and conditions' for customers to 'employment contracts' with staff. Your new venture will have to perform these to a certain ______ standard just to ______ in your ______.

Accepted Answer

The answer of Fill in the gaps below.
To be competitive...

Question 11

Replace the missing words in the following definition of relationship marketing.
Relationship marketing is defined as 'proactively ______, ______ and ______ committed, interactive and ______ exchanges with ______ customers (partners) over time' (Harker 1999).

Accepted Answer

The answer of Replace the missing words in the following...

Question 12

Match the following terms to their definitions.
-Liabilities.
A) The difference between total assets and total liabilities
B) Sum of creditors, accrued liabilities and tax owed
C) The value of the company's worth
D) The amount a company owes to other entities

Accepted Answer

The answer of Match the following terms to their definitions.
-Liabilities.
A)...

Question 13

Match the following terms to their definitions.
-Owners' equity.
A) The difference between total assets and total liabilities
B) Sum of creditors, accrued liabilities and tax owed
C) The value of the company's worth
D) The amount a company owes to other entities

Accepted Answer

Owners' equity refers to the difference between a company's total assets and total liabilities, also known as the net worth of the company.

Answer: D
 Amount owed to other entities is referred to as liabilities, not owners' equity.

Question 14

Match the following terms to their definitions.
-Assets.
A) The difference between total assets and total liabilities
B) Sum of creditors, accrued liabilities and tax owed
C) The value of the company's worth
D) The amount a company owes to other entities

Accepted Answer

Assets are essentially the value of everything a company owns and uses to conduct its business, reflecting the company's worth.

Question 15

Match the following terms to their definitions.
-Current liabilities.
A) The difference between total assets and total liabilities
B) Sum of creditors, accrued liabilities and tax owed
C) The value of the company's worth
D) The amount a company owes to other entities

Accepted Answer

The answer of Match the following terms to their definitions.
-Current...

Question 16

Fill in the missing words for this discussion of a cashflow forecast.
The cash flow forecast is based on a number of key ______ , which vary depending on the ______ and the ______ of the forecast.

Accepted Answer

The answer of Fill in the missing words for this...

Question 17

Fill in the missing words for this discussion of key performance indicators.
In addition to the normal ______ produced as part of the management or statutory accounts there is other ______ information, which can give an ______ of how well (or not) an organization is ______.

Accepted Answer

The answer of Fill in the missing words for this...

Question 18

Match the following profit measures to their definitions.
-Gross profit.
A) A comparative indicator of profit in relation to sales value.
B) Gross profit less all operating expenses but not interest and taxes.
C) A measure of company performance after deducting operating expenses and interest but not taxes.
D) A simple measure of profit obtained from the sale of goods and services. Also referred to as sales profit.

Accepted Answer

Gross profit is a measure of profit obtained from the sale of goods and services.

Question 19

Match the following profit measures to their definitions.
-Net profit.
A) A comparative indicator of profit in relation to sales value.
B) Gross profit less all operating expenses but not interest and taxes.
C) A measure of company performance after deducting operating expenses and interest but not taxes.
D) A simple measure of profit obtained from the sale of goods and services. Also referred to as sales profit.

Accepted Answer

Net profit is the measure of company performance after deducting operating expenses, interest, and taxes.

Question 20

Match the following profit measures to their definitions.
-Operating profit.
A) A comparative indicator of profit in relation to sales value.
B) Gross profit less all operating expenses but not interest and taxes.
C) A measure of company performance after deducting operating expenses and interest but not taxes.
D) A simple measure of profit obtained from the sale of goods and services. Also referred to as sales profit.

Accepted Answer

Operating profit is calculated by subtracting all operating expenses (such as wages, depreciation, and cost of goods sold) from gross profit, but it does not include deductions for interest and taxes.

Quiz 1: Exploring Entrepreneurship

Link the following entrepreneurial marketing techniques to the cases that illustrate their use. -Co-creation of customer value.

Link the following entrepreneurial marketing techniques to the cases that illustrate their use. -Building and refining social networks.

Link the following entrepreneurial marketing techniques to the cases that illustrate their use. -Establishing personal credibility.

Link the following entrepreneurial marketing techniques to the cases that illustrate their use. -Co-ordinating value constellation.

Match these approaches to marketing with their descriptions. -Marketing research, market segmentation, product positioning and brand management.

Match these approaches to marketing with their descriptions. -You work together with customers to create ideas, communities, events and lifestyles.

Match these approaches to marketing with their descriptions. -Use of developments in psychology and the social sciences to develop new ways of analysing and exploiting different consumer preferences and behaviours.

Match these approaches to marketing with their descriptions. -Customer relations management (CRM) and direct marketing including the use of communications technologies, such as social media.

Replace the missing words in the following definition of relationship marketing. Relationship marketing is defined as 'proactively , and committed, interactive and exchanges with __ customers (partners) over time' (Harker 1999).

Match the following terms to their definitions. -Liabilities.

Match the following terms to their definitions. -Owners' equity.

Match the following terms to their definitions. -Assets.

Match the following terms to their definitions. -Current liabilities.

Fill in the missing words for this discussion of a cashflow forecast. The cash flow forecast is based on a number of key , which vary depending on the and the __ of the forecast.

Fill in the missing words for this discussion of key performance indicators. In addition to the normal produced as part of the management or statutory accounts there is other information, which can give an of how well (or not) an organization is .

Match the following profit measures to their definitions. -Gross profit.

Match the following profit measures to their definitions. -Net profit.

Match the following profit measures to their definitions. -Operating profit.