You are conducting a business startup workshop sponsored by the Small Business Administration. The workshop attendees are all aspiring business owners who are excited and fearful about the prospect of starting their own business. Early in the workshop, you asked the attendees to complete a questionnaire about their major concerns in starting a new business. The majority of the respondents indicated their biggest concerns were limited capital and lack of business experience.
Based on these concerns, which of the following business strategies do you think would be most appropriate for these workshop attendees?
Start their business as a full-service wholesaler.
Start their business as a franchisee.
Start their business as a mail-order wholesaler.
Start their business as a merchant wholesaler.
Start their business as a franchisor.
Answer: Start their business as a franchise
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Marketing Chapter 14
- An internal management philosophy under which a company customizes its product and service offering based on data generated through interactions between customers and the company is termed _____.
- Unlike push money, trade allowance
- Which of the following is true of trade sales promotions carried out at business meetings and conventions?
- In a marketing environment, which of the following statements is true of a crisis management?
- _____ is the effort to capture media attention—for example, through articles or editorials in publications or through human-interest stories on radio or television programs.
- Unlike newspaper advertising, in magazine advertising
- Which of the following advertising objectives correctly uses the Defining Advertising Goals for Measured Advertising Results approach?
- Which of the following statements is true of advertising campaigns?
- A(n) _____is a series of related ads focusing on a common theme, slogan, and set of advertising appeals.
- Which of the following is a difference between institutional advertising and product advertising?
- Which of the following is true of the growth phase of the product life cycle?
- _____ is typically used to safeguard against negative consumer attitudes and enhance a company's credibility among consumers who already favor its position.
- Unlike new brands with a small market share, brands with a large market share
- Which of the following statements is true about the effects of advertising on consumers?
- Which of the following best defines cost per contact?
- Statements like: "Call now!" and "For a limited time only!" would be common during which stage of the AIDA model?
- When competition is intense, typically during the growth stage of the product life cycle, it would be most appropriate to use which type of promotion?
- Which of the following is the objective of informative promotion?
- Which of the following scenarios illustrates a marketer acting as a receiver?
- Which of the following is a difference between business products and consumer products?
- Which of the following is an example of a routine buying decision?
- Which of the following is true of the promotional mix for a product in its decline stage?
- Which of the following statements is true of the integrated marketing communications concept?
- Public relations' greatest impact is as a method of
- Ivan, a salesperson at a computer manufacturing firm, tries to persuade his customers to buy a particular computer by explaining its features and comparing it with the other models in the market. Moreover, he always maintains communication with customers who visit the firm. He does this to build long-lasting relationships with customers. In this scenario, Ivan is using _____.