OpenStax Entrepreneurship Test Bank
Chapter 8: Entrepreneurial Marketing and Sales
Chapter 8: Entrepreneurial Marketing and Sales
* = Correct answer
Multiple Choice/Fill in the Blank
1. According to marketing research company CB Insights, in a survey of 101 companies that
failed, ________ percent of them failed due to poor marketing.
A. 10
B. 14*
C. 15
D. 20
Difficulty: Easy
2. On a basic level, ________ is a set of unconventional practices that can help start-ups and
younger firms emerge and have an edge in competitive markets.
A. entrepreneurial marketing*
B. marketing
C. marketing research
D. traditional marketing
Difficulty: Easy
3. Small- and moderate-sized businesses are those with ________ or fewer employees and less
than $________ of yearly receipts, as defined by the Small Business Administration.
A. 50; 100,000
B. 100; 500,000
C. 500; 7.5 million*
D. 1,000; 10 million
Difficulty: Moderate
4. Developing new products, price points, channels, communication, process, training, and
design are all elements of ________.
A. entrepreneurial marketing*
B. marketing
C. marketing research
D. traditional marketing
Difficulty: Moderate
5. How does process add its value to the 7 Ps of the marketing mix?
A. building trust through efficient procedures*
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,OpenStax Entrepreneurship Test Bank
Chapter 8: Entrepreneurial Marketing and Sales
B. communicating benefits to customers
C. conveying value through atmospherics
D. linking the company to its customers
Difficulty: Moderate
6. How does the “right” marketing mix help entrepreneurs succeed?
A. Each P of the marketing mix can help bring in new business on its own due to price bundling.
B. Each P of the marketing mix separately helps create more customers for the venture.
C. Each P of the marketing mix works with the new venture’s suppliers to achieve value-added
pricing.
D. Each P of the marketing mix works with the other P’s to create value for a business and its
customers.*
Difficulty: Moderate
7. Why is social media a must-use tool for entrepreneurs?
A. It helps entrepreneurs find wealthy, private individuals called angel investors and other
sources of investment capital who seek higher returns.
B. It helps connect them with lost-cost suppliers, since many suppliers in China and India can be
found online in one social media platform or another.
C. It helps connect them with consumers, especially younger demographics since many
customers can be found online in one social media platform or another.*
D. It is available without any cost for entrepreneurs to advertise and promote their new business
ideas for either a product or a service.
Difficulty: Difficult
8. Collecting new data for the purpose of answering a specific question or set of questions is
known as ________ research.
A. entrepreneurial
B. market
C. primary*
D. secondary
Difficulty: Easy
9. What kind of research uses existing data that has been collected by another entity, such as
governmental agencies, to answer a wide range of questions about issues that are common to
many organizations and people?
A. entrepreneurial
B. market
C. primary
D. secondary*
Page 2 of 16
, OpenStax Entrepreneurship Test Bank
Chapter 8: Entrepreneurial Marketing and Sales
Difficulty: Easy
10. If there is a specific question such as how many people would be interested in a new product
with certain attributes that ________ research cannot answer, then ________ research will
have to be used.
A. market; secondary
B. market; primary
C. primary; secondary
D. secondary; primary*
Difficulty: Moderate
11. How did Dodgeball founder Dennis Crowley create and grow Foursquare when he was laid
off from Google without using traditional marketing techniques?
A. He created and organized flash mobs all over the city of Austin, TX.
B. He created and organized the first ever flash mobs in the United States.
C. He used guerrilla marketing by setting up a real game of foursquare.*
D. He used guerrilla marketing by staging a large protest in front of a convention.
Difficulty: Moderate
12. The benefit of ________ marketing is that it can lead to massive exposure for little or no
effort or investment once the content is developed. The challenge, though, is that it is
difficult to predict what content will be successful.
A. digital
B. guerilla
C. real-time
D. viral*
Difficulty: Easy
13. ________ marketing does not involve active participation from the marketer and almost
exclusively involves only customers, whereas ________ marketing attempts to build
awareness and buzz mostly via videos or email.
A. Guerilla; real-time
B. Viral; word of mouth
C. Word of mouth; guerilla
D. Word of mouth; viral*
Difficulty: Moderate
14. Another name for the image a company conveys to its customers is called ________ strategy,
which can include advertising, public relations, customer service, and sales promotions.
A. brand*
B. customer-focused
Page 3 of 16
Chapter 8: Entrepreneurial Marketing and Sales
Chapter 8: Entrepreneurial Marketing and Sales
* = Correct answer
Multiple Choice/Fill in the Blank
1. According to marketing research company CB Insights, in a survey of 101 companies that
failed, ________ percent of them failed due to poor marketing.
A. 10
B. 14*
C. 15
D. 20
Difficulty: Easy
2. On a basic level, ________ is a set of unconventional practices that can help start-ups and
younger firms emerge and have an edge in competitive markets.
A. entrepreneurial marketing*
B. marketing
C. marketing research
D. traditional marketing
Difficulty: Easy
3. Small- and moderate-sized businesses are those with ________ or fewer employees and less
than $________ of yearly receipts, as defined by the Small Business Administration.
A. 50; 100,000
B. 100; 500,000
C. 500; 7.5 million*
D. 1,000; 10 million
Difficulty: Moderate
4. Developing new products, price points, channels, communication, process, training, and
design are all elements of ________.
A. entrepreneurial marketing*
B. marketing
C. marketing research
D. traditional marketing
Difficulty: Moderate
5. How does process add its value to the 7 Ps of the marketing mix?
A. building trust through efficient procedures*
Page 1 of 16
,OpenStax Entrepreneurship Test Bank
Chapter 8: Entrepreneurial Marketing and Sales
B. communicating benefits to customers
C. conveying value through atmospherics
D. linking the company to its customers
Difficulty: Moderate
6. How does the “right” marketing mix help entrepreneurs succeed?
A. Each P of the marketing mix can help bring in new business on its own due to price bundling.
B. Each P of the marketing mix separately helps create more customers for the venture.
C. Each P of the marketing mix works with the new venture’s suppliers to achieve value-added
pricing.
D. Each P of the marketing mix works with the other P’s to create value for a business and its
customers.*
Difficulty: Moderate
7. Why is social media a must-use tool for entrepreneurs?
A. It helps entrepreneurs find wealthy, private individuals called angel investors and other
sources of investment capital who seek higher returns.
B. It helps connect them with lost-cost suppliers, since many suppliers in China and India can be
found online in one social media platform or another.
C. It helps connect them with consumers, especially younger demographics since many
customers can be found online in one social media platform or another.*
D. It is available without any cost for entrepreneurs to advertise and promote their new business
ideas for either a product or a service.
Difficulty: Difficult
8. Collecting new data for the purpose of answering a specific question or set of questions is
known as ________ research.
A. entrepreneurial
B. market
C. primary*
D. secondary
Difficulty: Easy
9. What kind of research uses existing data that has been collected by another entity, such as
governmental agencies, to answer a wide range of questions about issues that are common to
many organizations and people?
A. entrepreneurial
B. market
C. primary
D. secondary*
Page 2 of 16
, OpenStax Entrepreneurship Test Bank
Chapter 8: Entrepreneurial Marketing and Sales
Difficulty: Easy
10. If there is a specific question such as how many people would be interested in a new product
with certain attributes that ________ research cannot answer, then ________ research will
have to be used.
A. market; secondary
B. market; primary
C. primary; secondary
D. secondary; primary*
Difficulty: Moderate
11. How did Dodgeball founder Dennis Crowley create and grow Foursquare when he was laid
off from Google without using traditional marketing techniques?
A. He created and organized flash mobs all over the city of Austin, TX.
B. He created and organized the first ever flash mobs in the United States.
C. He used guerrilla marketing by setting up a real game of foursquare.*
D. He used guerrilla marketing by staging a large protest in front of a convention.
Difficulty: Moderate
12. The benefit of ________ marketing is that it can lead to massive exposure for little or no
effort or investment once the content is developed. The challenge, though, is that it is
difficult to predict what content will be successful.
A. digital
B. guerilla
C. real-time
D. viral*
Difficulty: Easy
13. ________ marketing does not involve active participation from the marketer and almost
exclusively involves only customers, whereas ________ marketing attempts to build
awareness and buzz mostly via videos or email.
A. Guerilla; real-time
B. Viral; word of mouth
C. Word of mouth; guerilla
D. Word of mouth; viral*
Difficulty: Moderate
14. Another name for the image a company conveys to its customers is called ________ strategy,
which can include advertising, public relations, customer service, and sales promotions.
A. brand*
B. customer-focused
Page 3 of 16
