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Entrepreneurship

Review Questions

EntrepreneurshipReview Questions

Review Questions

1.

What are the differences between traditional and entrepreneurial marketing?

2.

What is a target market? Why is it important to know the target before creating the marketing mix?

3.

What are the components of the marketing mix? Explain each component.

4.

What is the difference between pricing a product based on what a competitors charge and pricing a product based on the company’s costs?

5.

Check out the website http://www.flyzipline.com/. Who is the target market? What are their 7Ps?

6.

What is market research? Why is it important to do research before you start a business?

7.

How does primary data differ from secondary data?

8.

How does STP help entrepreneurs?

9.

How does guerrilla marketing differ from viral marketing?

10.

What types of activities are involved in digital marketing? Choose one and explain.

11.

What is a brand? Why is it important to work toward gaining recognition for the brand, especially for a start-up brand?

12.

How does a tagline help with positioning?

13.

How does a marketing plan help an entrepreneur?

14.

What is the difference between a marketing objective and a marketing strategy?

15.

What are the steps in the sales process?

16.

How does customer service impact sales of a new business?

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