Principles Of Small Business Management International Edition 5th Edition By Timothy S. Hatten- Test Bank

Overview

CHAPTER 11
Small Business Marketing: Strategy and Research

True / False Questions

1. T F Marketing is more than selling or advertising.
Ans: True LO: 1 Page: 265 AACSB: Analytic

2. T F According to Peter Drucker, the two basic functions of business are marketing and innovation.
Ans: True LO: 1 Page: 265 AACSB: Analytic

3. T F Business began adopting the marketing concept in the 1970s.
Ans: False LO: 1 Page: 266 AACSB: Analytic

4. T F Purple cows represent the creation of a competitive advantage.
Ans: True LO: 1 Page: 266 AACSB: Analytic

5. T F Marketing strategies should state what should be accomplished and the process to be used to achieve that goal.
Ans: True LO: 2 Page: 267 AACSB: Analytic

6. T F Marketing objectives can be broken into two groups; marketing performance objectives and marketing support objectives.
Ans: True LO: 2 Page: 267 AACSB: Analytic

7. T F Small businesses in production industries must pay special attention to marketing.
Ans: False LO: 2 Page: 267 AACSB: Analytic

8. T F The build-up method of forecasting sales begins with an estimate of the total market potential for a specific product or an entire industry.
Ans: False LO: 2 Page: 269 AACSB: Analytic

9. T F Market segmentation is the process of dividing the total market for a product into identifiable groups or target markets.
Ans: True LO: 2 Page: 269 AACSB: Analytic

10. T F In order to identify the most attractive target markets for a business, characteristics that affect the buying behavior of people should be analyzed.
Ans: True LO: 2 Page: 270 AACSB: Analytic