- One-to-one marketing is a marketing strategy that:
gathers data on individual customers and then tailors an appeal to their needs and tastes.
uses technology to make customers feel like they are being treated special.
focuses on the use of personal selling and consultative advising of customers.
relies heavily on geographic data but ignores demographic and psychographic data.
- The key to marketing success is:
economy of scale in promotion by creating broad-based ad campaigns.
understanding customers’ unique needs, wants and preferences.
the use of direct-marketing and e-commerce.
catering to teenagers.
- ________ refers to developing, maintaining, and managing long-term relationships with customers so that they will want to keep coming back.
Customer relationship management
Customer retention management
Customer management software
Customer reassurance management
- One “natural” advantage small businesses have over large businesses, which can be a significant competitive advantage, is:
their ability to conduct market research.
their lower costs.
their ability to serve many highly diverse target markets.
- Which strategy allows a small company to maximize the advantages of its smallness and to compete effectively even in industries dominated by giants?
Grand market strategy
None of the above
- Under ________, a manufacturer splits the cost of advertising with a small retailer if the retailer features its product.
- The most commonly used method of establishing an advertising budget for a small business is:
a percentage of sales.
spending what competitors spend.
what is affordable.
- ________ is any sales presentation that is nonpersonal in nature and is paid for by an identified sponsor.
- Tactics that can help an entrepreneur stimulate positive publicity for the firm are:
writing news releases and faxing them to the media.
sponsoring a community project.
promoting a cause.
All of the above
- The key to the success of direct mail advertising is:
designing the right envelope.
the accuracy of the customer mailing list.
creative use of color and photographs in the mailing.
using key words such as “free,” “hurry,” and “savings.”
- When a small business owner doesn’t want to make a pricing decision, he/she can use a(n) ________ pricing strategy.
- Many small business owners use a ________ strategy to move stale, damaged, or slow moving goods or to encourage shoppers to purchase merchandise before an upcoming season.
- Probably the most important consideration a manufacturer has when setting the final price of its new exclusive perfume is:
the perfume’s production cost.
the image the company wants to create for the scent in the customer’s mind.
choosing between odd pricing and price lining.
- The Omega Company introduces products with a higher-than-normal price in an effort to quickly recover the initial developmental and promotional costs of the product. The Omega Company is pursuing a ________ pricing strategy.
- ________ is a technique which greatly simplifies the pricing function by setting the same price for items with similar characteristics.
- ________ is a trend where people test products in retail stores but buy them online.
- The ________ is the cost a company incurs to generate each purchase.
- For many entrepreneurs, the barrier for launching e-commerce is:
where and how to start an e-commerce effort.
lack of funding.
lack of IT staff.
Both B and C
- Which of the following statements is true for improving a company’s search placement results?
Visit competitors’ sites for key word ideas, but avoid using the exact phrases.
Consider using less obvious key words and brand names.
Ask customers which words and phrases they use when searching for the products and services the company sells.
All of the above
- E-Commerce requires a basic infrastructure somewhere in the channel of distribution to process orders, maintain inventory, ________, and handle customer service.
All of the above