7.9 Review Questions
- What are the differences between traditional and entrepreneurial marketing?
- What is a target market? Why is it important to know the target before creating the marketing mix?
- What are the components of the marketing mix? Explain each component.
- What is the difference between pricing a product based on what a competitors charge and pricing a product based on the company’s costs?
- Check out the website http://www.flyzipline.com/. Who is the target market? What are their 7Ps?
- What is market research? Why is it important to do research before you start a business?
- How does primary data differ from secondary data?
- How does STP help entrepreneurs?
- How does guerrilla marketing differ from viral marketing?
- What types of activities are involved in digital marketing? Choose one and explain.
- What is a brand? Why is it important to work toward gaining recognition for the brand, especially for a start-up brand?
- How does a tagline help with positioning?
- How does a marketing plan help an entrepreneur?
- What is the difference between a marketing objective and a marketing strategy?
- What are the steps in the sales process?
- How does customer service impact sales of a new business?