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Entrepreneurial Marketing Basics
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Entrepreneurial Marketing Basics

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Questions and Answers

What are the three main areas of focus for marketing for entrepreneurs and small businesses?

  • Setting prices, selecting distribution channels, and promoting products
  • Identifying competitors, creating advertisements, and expanding product lines
  • Finding out customer wants and needs, developing products and services, determining how to satisfy customer needs (correct)
  • Researching industry trends, negotiating with suppliers, and training staff
  • What is the main focus of marketing in a business?

  • Putting the customer first in all efforts and activities (correct)
  • Creating products without considering customer preferences
  • Fulfilling the desires of the business owner
  • Maximizing profits for the company
  • How has Capannari Ice Cream differentiated itself from its competitors?

  • By offering only standard ice cream flavors
  • By investing heavily in marketing and getting to know their customers well (correct)
  • By increasing prices to higher than competitors
  • By ignoring customer feedback and preferences
  • What additional service does Capannari Ice Cream offer that sets them apart from other ice cream shops?

    <p>Unique artisan flavors like Irish coffee and pumpkin</p> Signup and view all the answers

    How has investing in marketing helped Capannari Ice Cream succeed?

    <p>By getting to know their customers well and keeping them happy</p> Signup and view all the answers

    What does putting the customer first in marketing efforts mean?

    <p>Ensuring that all activities and efforts are centered around customer satisfaction</p> Signup and view all the answers

    What is the purpose of identifying a target market for a business?

    <p>To sell products to a specific group of potential customers</p> Signup and view all the answers

    In the context of the text, what is an industrial market also known as?

    <p>Business to business (B2B) market</p> Signup and view all the answers

    What type of buyers make up a consumer market?

    <p>Buyers who use the product or service for personal use</p> Signup and view all the answers

    Why do businesses usually need to perform market research to identify target markets?

    <p>To determine the possibility of selling offerings by connecting with potential customers</p> Signup and view all the answers

    What does the text suggest can help guarantee repeat customers at an ice cream shop?

    <p>Providing out-of-the-ordinary concepts</p> Signup and view all the answers

    What role does Capannari’s ice cream shop play in supporting community events?

    <p>They sponsor annual contests like the Coolest School Contest</p> Signup and view all the answers

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