Podcast
Questions and Answers
What is the definition of a market?
What is the definition of a market?
- A place where only manufacturers sell
- A website where only retailers sell
- Any place where manufacturers, distributors, and retailers sell and consumers buy (correct)
- A physical shop or high street
What is the primary factor that dictates the prices of products and services in a market?
What is the primary factor that dictates the prices of products and services in a market?
- Demand and competition (correct)
- Competition and government regulations
- Supply and demand
- Manufacturers' production costs
According to customers, what is the most important factor when buying a product or availing of a service?
According to customers, what is the most important factor when buying a product or availing of a service?
- Functionality of the product
- Design of the product
- Price of the product (correct)
- Experience provided by the seller
Why is it important to provide a worthwhile experience to customers?
Why is it important to provide a worthwhile experience to customers?
What is expected by customers from a product they buy?
What is expected by customers from a product they buy?
Why is the design of a product important to customers?
Why is the design of a product important to customers?
What is a key characteristic of entrepreneurial marketing?
What is a key characteristic of entrepreneurial marketing?
What is the primary goal of relationship marketing?
What is the primary goal of relationship marketing?
Which marketing strategy involves forming markets and creating innovative products?
Which marketing strategy involves forming markets and creating innovative products?
What is the primary focus of one to one marketing?
What is the primary focus of one to one marketing?
What type of marketing makes use of the power of technology to interact with customers in real-time?
What type of marketing makes use of the power of technology to interact with customers in real-time?
Who wrote a journal article about the concept of entrepreneurial marketing?
Who wrote a journal article about the concept of entrepreneurial marketing?
What is the estimated number of people that can be served by the entrepreneur and his two employees within a 2-kilometer radius?
What is the estimated number of people that can be served by the entrepreneur and his two employees within a 2-kilometer radius?
What is the recommended approach to guarantee reliable data and identify areas for further research?
What is the recommended approach to guarantee reliable data and identify areas for further research?
What is the purpose of using demographics in top-down market sizing?
What is the purpose of using demographics in top-down market sizing?
What is a characteristic of the bottom-up approach to market sizing?
What is a characteristic of the bottom-up approach to market sizing?
What is the main difference between entrepreneurial marketing and traditional marketing practices?
What is the main difference between entrepreneurial marketing and traditional marketing practices?
What is the purpose of extrapolation in bottom-up market sizing?
What is the purpose of extrapolation in bottom-up market sizing?
What is one of the key factors that influence a customer's decision to purchase a product?
What is one of the key factors that influence a customer's decision to purchase a product?
What is the primary goal of interacting with a Potential Pandoy?
What is the primary goal of interacting with a Potential Pandoy?
What is a key characteristic of a reliable product?
What is a key characteristic of a reliable product?
Why is it important to understand the different types of customers?
Why is it important to understand the different types of customers?
How can an entrepreneur capitalize on a Potential Pandoy's interest in a product?
How can an entrepreneur capitalize on a Potential Pandoy's interest in a product?
What is the main difference between a Potential Pandoy and a paying customer?
What is the main difference between a Potential Pandoy and a paying customer?
What do successful entrepreneurs do with their resources?
What do successful entrepreneurs do with their resources?
Why is personal branding important for entrepreneurs?
Why is personal branding important for entrepreneurs?
What is the goal of creating a personal brand?
What is the goal of creating a personal brand?
Why do customers focus on the founders behind a company?
Why do customers focus on the founders behind a company?
What is the relationship between a product/service and personal branding?
What is the relationship between a product/service and personal branding?
Why is personal branding applicable to startups?
Why is personal branding applicable to startups?
