Chp10 – Entre – TB – Flashcards
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Which of the following terms refers to a rule of thumb about how many prospective customers it takes to find one who will actually make a purchase? A. Lead qualification B. Value proposition C. Marketing funnel D. Segmentation
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C. Marketing funnel
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Which of the following terms refers to small business owners' unique selling points that will be used to differentiate their products and/or services from those of the competition? A. Sales lead B. Value proposition C. Trendiness D. Segmentation
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B. Value proposition
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_____ is the process of dividing the market into smaller portions of people who have certain common characteristics. A. Target optimization B. Market penetration C. Segmentation D. Market recognition
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C. Segmentation
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_____ is the segment or segments a business owner selects to concentrate his or her marketing efforts. A. Target market B. Qualified market C. Customer vector D. Optimized market
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A. Target market
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Segmenting a market _____ involves dividing it into different segments in terms of cities or neighborhoods. A. geographically B. economically C. demographically D. culturally
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A. geographically
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Dividing the market into different segments by income, age, or religion constitutes segmenting the market _____. A. geographically B. economically C. demographically D. culturally
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C. demographically
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Which of the following is a characteristic feature of a message for a target market? A. It is repeated less often. B. It must contain the elements of a product's value proposition. C. It must be abstract. D. It must always be distinctive from target customers.
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B. It must contain the elements of a product's value proposition.
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How much of each message conveyance a business owner uses to sell his or her product as well as his or her objective in using each one is known as: A. promotional mix. B. marketing mix. C. AIDA. D. CRM.
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A. promotional mix.
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_____ is often used to support the corporate identity and value propositions that are established through public relations efforts. A. Personal selling B. A corporate newsletter C. Advertising D. A press kit
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C. Advertising
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Which of the following is true of advertising? A. It is the least likely to be used by businesses to convey their message to potential customers. B. It works if an ad's impression is positive even if people do not recall it. C. It works if people recall an ad even though it did not have a positive impact on them. D. It involves presentation of a company's image.
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D. It involves presentation of a company's image.
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Which of the following is a characteristic feature of brochures and flyers? A. They contain the annual balance sheet of the company. B. They include stories of customers whose problems were solved. C. They give more information about a firm and its products than business cards. D. They provide word-of-mouth advertising.
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C. They give more information about a firm and its products than business cards.
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Which of the following provides potential customers an education in a firm's product or service, including stories of customers' whose problems were solved, an FAQ list, as well as a page on the products or services, and a page on the business owner and his or her firm? A. Promotional novelties B. Sales packets C. Business cards D. Brochures
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B. Sales packets
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Which of the following is a characteristic feature of sales packets? A. They are usually large enough to read by passing traffic. B. They provide potential customers an education in a firm's product or service. C. They generally consist of pens or small calendars which are printed with the name and slogan of the company. D. They are generally hand-written.
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B. They provide potential customers an education in a firm's product or service.
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Which of the following is most likely to be true of signs as a form of advertising? A. They must be large enough to read by passing traffic. B. They generally contain the balance sheet of the company. C. They describe the competitive strategies of the company. D. They include stories of customers whose problems were solved.
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A. They must be large enough to read by passing traffic.
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Which of the following is true of promotional novelties? A. They explain the competitive strategies of the company to the readers. B. They must be large enough to read by passing traffic. C. They include stories of customers whose problems were solved. D. They are given to key customers or as gifts to employees.
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D. They are given to key customers or as gifts to employees.
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_____ are usually produced for pennies in quantity. A. Sales packets B. Signs C. Promotional novelties D. Marketing kits
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C. Promotional novelties
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Key chains, pens, coffee mugs, or embossed briefcases are examples of _____. A. promotional novelties B. signs C. flyers D. marketing kits
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A. promotional novelties
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_____ are the terms included in the hidden portions of a web page which are used by search engines to describe a website and evaluate its focus and category placement. A. Domain names B. Keywords C. Search terms D. Embeds
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B. Keywords
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_____ is an electronic equivalent of word-of-mouth advertising. A. Viral marketing B. Ambush marketing C. Sales promotion D. Trendiness
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A. Viral marketing
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Mentions of a company or products in the media for which a firm did not pay is referred to as _____. A. buzz marketing B. sales promotion C. free ink D. viral marketing
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C. free ink
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When it comes to promoting a small business that is just starting out, spreading the news by _____ is the surest way to build a client base. A. word-of-mouth B. full-scale advertising C. personal selling D. sales promotion
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A. word-of-mouth
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Harry Howard, a successful real estate broker, has established his own real estate company in western Pennsylvania. He has on-the-job experience working at a real estate company where he had a whole staff supporting brokers' work. Now on his own, with two secretaries, Harry is building his dream of owning and growing his own business. He wants to mainly focus on middle-to-upper-income homeowners and is exploring what type of promotional material he needs to have. Which of the following would be the fastest way for Harry to build his client base? A. Word-of-mouth B. Full-scale advertising C. Personal selling D. Sales promotion
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A. Word-of-mouth
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Which of the following is an example of sales promotion? A. Tara's Attire adds kids clothing to its existing range of clothes. B. Sammy Jams advertises about its new jam through billboards. C. Treats Today gives away samples of its new healthy donuts for free. D. Yen Yoga passes out flyers to advertise about a new yoga center in the Holmesville.
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C. Treats Today gives away samples of its new healthy donuts for free.
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Which of the following terms refers to the activities used to establish and promote a favorable opinion by the media? A. Press relations B. Word-of-mouth communications C. Sales promotions D. Ambush marketing
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A. Press relations
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Which of the following is a component of the AIDA formula that aims to hook people to the press release? A. Action B. Desire C. Interest D. Attitude
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C. Interest
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Due to which of the following characteristics a news story is most likely to get public recognition? A. Trendiness B. Cultural resonance C. Power D. Currency
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A. Trendiness
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Trendiness refers to: A. a concept in public interest which alludes to events with a broad appeal within the market or population. B. a concept in public recognition which alludes to the impact level of the issue being discussed. C. a concept in public interest which alludes to the graphic interest held by an event. D. a concept in public recognition which alludes to the fit of the topic to current fashion or public interest.
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D. a concept in public recognition which alludes to the fit of the topic to current fashion or public interest.
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Proximity refers to: A. a concept in public interest which alludes to events with a broad appeal within the market or population. B. a concept in public recognition which alludes to the impact level of the issue being discussed. C. a concept in public interest which alludes to the graphic interest held by an event. D. a concept in public recognition which alludes to the fit of the topic to current fashion or public interest.
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B. a concept in public recognition which alludes to the impact level of the issue being discussed.
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Due to which of the following characteristics a news story is most likely to get public importance? A. Trendiness B. Proximity C. Currency D. Cultural resonance
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C. Currency
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Greg has a press release for his new product that he wants to broadcast on television. His press release has a good story and visuals. It also includes content that illustrates broad cultural themes. Which of the following is Greg most likely to generate through the press release? A. Public recognition B. Public interest C. Public importance D. Issue recognition
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B. Public interest
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Due to which of the following characteristics a news story is most likely to grab public interest? A. Cultural resonance B. Issue recognition C. Trendiness D. Proximity
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A. Cultural resonance
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Paying for a local organization's needs in exchange for recognition is referred to as _____. A. publicity B. donation C. personal selling D. sponsorship
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D. sponsorship
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A news release that is typeset and thus may be photographically reproduced for inclusion in a newspaper is known as a _____. A. mat release B. brochure C. sales packet D. press kit
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A. mat release
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Which of the following is true of personal selling? A. It involves activities used to establish and promote a favorable opinion by the media. B. It does not allow you to find out the buyers' main concerns. C. It involves entering into a joint venture with a competitor. D. It allows a business owner to be flexible in his or her presentation.
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D. It allows a business owner to be flexible in his or her presentation.
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In which of the following stages of personal selling does an entrepreneur collect background information before selling the actual product or service? A. Prospect and evaluate B. Prepare C. Present D. Close
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A. Prospect and evaluate
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Putting together a list of prospective clients is called _____. A. preparing B. presenting C. formulating D. prospecting
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D. prospecting
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In personal selling, _____ means cleaning up the list to remove potential clients that are unable or unlikely to buy a business owner's product. A. prospecting B. prequalifying C. polarizing D. closing
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B. prequalifying
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Closing a sale refers to: A. asking for a referral from a prospective customer. B. being turned down by a prospective customer. C. delaying the decision to make a new product. D. obtaining a commitment from the customer.
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D. obtaining a commitment from the customer.
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While closing a sales call, when a sales person says "I'll just need your credit card for payment," he is using the sales closing technique of _____. A. try-before-you-buy close B. assumptive close C. chances-are close D. urgency close
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B. assumptive close
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Doubt that occurs after a purchase has been made is called _____. A. cognitive dissonance B. customer vector C. segmentation D. trendiness
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A. cognitive dissonance
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An inconsistency between experience and belief refers to: A. value proposition. B. segmentation. C. trendiness. D. cognitive dissonance.
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D. cognitive dissonance.
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Which of the following is true of cognitive dissonance? A. It is the consistency between experience and belief. B. It happens frequently especially with more expensive items. C. It almost always happens with purchases that are not considered risky. D. It is a doubt that occurs before making a purchase.
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B. It happens frequently especially with more expensive items.
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_____ is a strategy whose goal is growth, based on selling more of the firm's product or service to the existing customer base. A. Market penetration B. Product expansion C. Market expansion D. Diversification
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A. Market penetration
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Customer loyalty programs focus on developing a strategy that is based on: A. selling more of the firm's product or service to the existing customer base. B. selling in areas or to groups previously not served by the business. C. selling existing customers a product or service they have never bought before. D. adding new products or services to the firm's existing collection of offerings.
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A. selling more of the firm's product or service to the existing customer base.
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Product expansion is a strategy whose goal is growth, based on: A. selling more of the firm's product or service to the existing customer base. B. selling in areas or to groups previously not served by the business. C. selling existing customers a product or service they have never bought before. D. adding new products or services to the firm's existing collection of offerings.
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C. selling existing customers a product or service they have never bought before.
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Which of the following strategies is central to the process of upselling? A. Market penetration B. Market expansion C. Product expansion D. Diversification
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C. Product expansion
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Which of the following is used when selling to existing customers? A. Market expansion B. Market penetration C. Diversification D. Vertical integration
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B. Market penetration
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_____ is a strategy whose goal is growth, based on selling in areas or to groups previously not served by the business. A. Market penetration B. Market expansion C. Product expansion D. Diversification
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B. Market expansion
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Which of the following is the key to customer relationship management (CRM)? A. Displaying accurate financial records in annual reports B. Educating customers about a new product or service C. The data on current or prospective customers D. The press release and press kit
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C. The data on current or prospective customers
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Which of the following gives the particulars on existing customers? A. Contact data B. Performance data C. Product data D. Service data
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A. Contact data
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In the case of existing customers, _____ gives the information on the date and type of contact, since in many sales situations, it can take repeated contacts before a sale is made. A. channel data B. performance data C. intercommunication data D. sales data
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B. performance data
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_____ is a type of CRM report that segments by customer or customer group on purchases or dates of purchase. A. Customer vector B. Sales report C. Customer service D. Interim report
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A. Customer vector
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Which of the following is most likely to be true regarding customer vector? A. It considerably increases cognitive dissonance. B. It makes it difficult to decide which marketing efforts to continue or expand. C. It helps marketers in identifying prospective customers. D. It helps entrepreneurs decide how to operate several key aspects of their marketing efforts.
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D. It helps entrepreneurs decide how to operate several key aspects of their marketing efforts.
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If business owners track sales by purchase basis: A. they can minimize the cognitive dissonance experienced by their customers. B. they can predict the performance of their competitors. C. they can easily decide which marketing efforts to continue. D. they can find the defects in their products.
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C. they can easily decide which marketing efforts to continue.
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Business owners can figure how to better target ads or promotions to particular types of customers if: A. they track sales of their competitors. B. they identify the defects in their products. C. they use the diversification strategy rather than the product expansion strategy. D. they link sales and purchase basis to the type of customer.
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D. they link sales and purchase basis to the type of customer.
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The proof of a CRM effort is seen in: A. high levels of cognitive dissonance in customers. B. more tracked prospects making initial purchases. C. low levels of customer loyalty in new customers. D. high levels of inconsistency among customers in terms of experience and belief.
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B. more tracked prospects making initial purchases.
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_____ refers to business owners doing what they said they would do. A. Trendiness B. Cognitive dissonance C. Follow-up D. Follow-through
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D. Follow-through
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_____ refers to the contacts business owners periodically make with customers in order to remind them of their business, and their interest in customers' business. A. Follow-up B. Customer service C. Follow-through D. Mat release
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A. Follow-up
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Which of the following is true of follow-up? A. It increases cognitive dissonance in customers. B. It is typically done only once after a sale. C. Electronic approaches to follow-up dramatically lower the cost of marketing efforts. D. It refers to business owners doing what they said they would do.
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C. Electronic approaches to follow-up dramatically lower the cost of marketing efforts.
