Small Business Management Entrepreneurship And Beyond, 6th Edition By Timothy S. Hatten – Test Bank

1. Marketing is more than selling or advertising.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 265
LEARNING OBJECTIVES: Cognero AE6B2320DF484F5BA84A7C66 – 11.1
NATIONAL STANDARDS: United States – AACSB: Analytic
STATE STANDARDS: United States – OH – DISC: Strategy
KEYWORDS: Bloom’s Knowledge

2. According to Peter Drucker, the two basic functions of business are marketing and innovation.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 271
LEARNING OBJECTIVES: Cognero AE6B2320DF484F5BA84A7C66 – 11.1
NATIONAL STANDARDS: United States – AACSB: Analytic
STATE STANDARDS: United States – OH – DISC: Strategy
KEYWORDS: Bloom’s Knowledge

3. Business began adopting the marketing concept in the 1970s.
a. True
b. False
ANSWER: False
POINTS: 1
REFERENCES: p. 272
LEARNING OBJECTIVES: Cognero AE6B2320DF484F5BA84A7C66 – 11.1
NATIONAL STANDARDS: United States – AACSB: Analytic
STATE STANDARDS: United States – OH – DISC: Strategy
KEYWORDS: Bloom’s Knowledge

4. Purple cows represent the creation of a competitive advantage.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 273
LEARNING OBJECTIVES: Cognero AE6B2320DF484F5BA84A7C66 – 11.1
NATIONAL STANDARDS: United States – AACSB: Analytic
STATE STANDARDS: United States – OH – DISC: Strategy
KEYWORDS: Bloom’s Knowledge

5. Marketing strategies should state what should be accomplished and the process to be used to achieve that goal.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 273
LEARNING OBJECTIVES: Cognero C9EF2DFBEFD547EA83BA4873 – 11.2
NATIONAL STANDARDS: United States – AACSB: Analytic
STATE STANDARDS: United States – OH – DISC: Strategy
KEYWORDS: Bloom’s Knowledge

6. Marketing objectives can be broken into two groups; marketing performance objectives and marketing support objectives.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 274
LEARNING OBJECTIVES: Cognero C9EF2DFBEFD547EA83BA4873 – 11.2
NATIONAL STANDARDS: United States – AACSB: Analytic
STATE STANDARDS: United States – OH – DISC: Strategy
KEYWORDS: Bloom’s Knowledge

7. Your sales forecast will affect all sections of your marketing plan.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 274
LEARNING OBJECTIVES: Cognero C9EF2DFBEFD547EA83BA4873 – 11.2
NATIONAL STANDARDS: United States – AACSB: Analytic
STATE STANDARDS: United States – OH – DISC: Strategy
KEYWORDS: Bloom’s Knowledge

8. The build-up method of forecasting sales begins with an estimate of the total market potential for a specific product or an entire industry.
a. True
b. False
ANSWER: False
POINTS: 1
REFERENCES: p. 274
LEARNING OBJECTIVES: Cognero C9EF2DFBEFD547EA83BA4873 – 11.2
NATIONAL STANDARDS: United States – AACSB: Analytic
STATE STANDARDS: United States – OH – DISC: Strategy
KEYWORDS: Bloom’s Knowledge

9. Market segmentation is the process of dividing the total market for a product into identifiable groups or target markets.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 276
LEARNING OBJECTIVES: Cognero C9EF2DFBEFD547EA83BA4873 – 11.2
NATIONAL STANDARDS: United States – AACSB: Analytic
STATE STANDARDS: United States – OH – DISC: Strategy
KEYWORDS: Bloom’s Knowledge

10. In order to identify the most attractive target markets for a business, characteristics that affect the buying behavior of people should be analyzed.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 279
LEARNING OBJECTIVES: Cognero C9EF2DFBEFD547EA83BA4873 – 11.2
NATIONAL STANDARDS: United States – AACSB: Analytic
STATE STANDARDS: United States – OH – DISC: Strategy
KEYWORDS: Bloom’s Knowledge