8.9: Review Questions
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?