Entrepreneurship and Small Business Management
Question Bank
Course Introduction
Entrepreneurship and Small Business Management introduces students to the foundational principles and practices necessary to launch, manage, and grow a successful small business. The course covers the entrepreneurial mindset, opportunity recognition, feasibility analysis, business planning, and resource acquisition. Students will explore key management functions such as marketing, operations, finance, and human resources as they pertain to small enterprises. Real-world case studies and hands-on projects encourage critical thinking, innovation, and the application of strategies for overcoming challenges faced by entrepreneurs in dynamic business environments. Whether aspiring to start their own ventures or manage existing small businesses, students will gain practical skills and insights essential for entrepreneurial success.
Recommended Textbook
Marketing Channels A Management View 8th Edition by Bert Rosenbloom
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18 Chapters
801 Verified Questions
801 Flashcards
Source URL: https://quizplus.com/study-set/608
Page 2
Chapter 1: Marketing Channel Concepts
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50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/11500
Sample Questions
Q1) According to the text,the most promising avenue for gaining a sustainable competitive advantage today is through an emphasis on:
A) Pricing strategy.
B) Channel strategy.
C) Promotion strategy.
D) Product strategy.
E) Supply strategy.
Answer: B
Q2) Using the concept of specialization and division of labor,a channel manager might engage in any of the following activities except:
A) Allocate transportation of product to an outside shipping firm.
B) Allocate transportation of product to the manufacturer's own trucking fleet.
C) Allocate transportation of product to the wholesaler's trucking fleet.
D) Allocate transportation of product to the retailer.
E) Allocate transportation of product to an independent trucking company.
Answer: D
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3
Chapter 2: The Channel Participants
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51 Verified Questions
51 Flashcards
Source URL: https://quizplus.com/quiz/11501
Sample Questions
Q1) "Threetailing" is a term used to describe:
A) Retailers located in 3 or more countries.
B) The use of 3 types of promotion techniques.
C) The integration of technology for in-store, print, and television advertising.
D) Three main customer target markets.
E) The convergence of in-store, catalog, and online channels.
Answer: E
Q2) The Census of Retail Trade classified retailers into _____ major groups by kind of business.
A) 12
B) 16
C) 18
D) 10
E) 8
Answer: A
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4
Chapter 3: The Environment of Marketing Channels
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63 Verified Questions
63 Flashcards
Source URL: https://quizplus.com/quiz/11502
Sample Questions
Q1) _____________ exist(s)when a supplier requires its channel members to carry a broad line of its products.
A) Dual distribution
B) Full-line forcing
C) Exclusive dealing
D) Vertical integration
E) Tying Agreements
Answer: B
Q2) ___________ is the term that refers to interaction in networks comprised of individuals or organizations that are linked together based on some type of common interest.
A) Globalization.
B) Consumer mobility and connectedness.
C) Demographics.
D) Social networking.
E) The Green Movement.
Answer: D
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Page 5
Chapter 4: Behavioral Processes in Marketing Channels
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53 Verified Questions
53 Flashcards
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Sample Questions
Q1) Which of the following is not a useful approach to resolving channel conflict?
A) The use of an authoritarian leadership style by the channel manager.
B) The application of organizational development concepts.
C) Face-to-face meetings.
D) Specialized bargaining and negotiating procedures.
E) Set up a specialized organization for information gathering purposes.
Q2) Franchisors have the right to tell franchisees how to market products because of the franchise contract.In this case,franchisors are emphasizing the use of:
A) Referent power.
B) Reward power.
C) Legitimate power.
D) Coercive power.
E) Expert power.
Q3) Conflict in marketing channels is often caused by all of the following except:
A) Different economic objectives.
B) Ideological differences.
C) Inappropriate channel structure.
D) Differing perceptions.
E) A focus on object centered behavior.
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Chapter 5: Strategy in Marketing Channels
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44 Verified Questions
44 Flashcards
Source URL: https://quizplus.com/quiz/11504
Sample Questions
Q1) Competitive advantages gained through distribution tend to be:
A) Short-lived.
B) Long-lived.
C) Less costly to develop.
D) Much more difficult to develop than product advantages.
E) Almost always more expensive to develop.
Q2) Which of the following is a false statement about the relationship between channel strategy and marketing strategy?
A) Channel strategy is concerned with the place aspect of the marketing strategy.
B) Channel strategy is narrower in scope than the marketing strategy.
C) Channel strategy focuses on distribution objectives.
D) The channel strategy is important to the firm's overall objectives.
E) The marketing channel strategy focuses on product, price, and promotion.
Q3) Many manufacturers have neglected distribution because:
A) Product, price and promotion are more difficult to control.
B) Independent channel members can be difficult to control.
C) It takes too long for distribution to impact market share.
D) The decisions are difficult to make.
E) It is hard to obtain the information.
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Page 7
Chapter 6: Designing Marketing Channels
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59 Verified Questions
59 Flashcards
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Sample Questions
Q1) When a channel manager undertakes channel design,what distribution decision already should have been made?
A) How the changes will be evaluated
B) The role of distribution in new product strategy
C) The role of distribution in the firm's overall objectives and strategies
D) How the new design will be implemented
E) The role of distribution in the promotion strategy
Q2) The distribution costing approach to choosing channel structure:
A) Requires almost no managerial judgment.
B) Requires specific factors to be identified.
C) Requires that management make some cost and revenue estimates.
D) Will, if done well, generally yield an optimal channel choice.
E) Assumes a three-level distribution structure.
Q3) Distribution objectives must be set:
A) Only in relation to considerations of logistics.
B) To provide for fast distribution of products to the market.
C) With the major emphasis being on keeping the cost of distribution to a minimum.
D) With an eye toward objectives and policies of the firm.
E) To achieve the maximum level of sales volume.
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Page 8
Chapter 7: Selecting the Channel Members
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36 Verified Questions
36 Flashcards
Source URL: https://quizplus.com/quiz/11506
Sample Questions
Q1) The selection criterion that refers to __________ reflects the degree to which there is a continuity of management if the principal dies.
A) management ability
B) management succession
C) capability
D) reputation
E) performance
Q2) Which of the following statements is a false statement about Hlavacek and McCuistion's channel member selection criteria for technical product sold in industrial markets?
A) Manufacturers should select distributors who carry a rather small array of products.
B) Financial capacity should not be overemphasized; sometimes less well-financed distributors are "hungrier".
C) Aggressiveness of the distributor always is a vital criterion.
D) A distributor that is a "small business" will be able to focus more attention on specific products.
E) A channel member's market coverage should be a criterion.
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Chapter 8: Target Markets and Channel Design Strategy
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43 Verified Questions
43 Flashcards
Source URL: https://quizplus.com/quiz/11507
Sample Questions
Q1) When consumers shop in a retailer's store,buy from its catalog,and buy from its Web site,this is a phenomenon known as:
A) Multi-tasking.
B) Multi-shopping.
C) Extensive.
D) Threetailing.
E) Compulsive buying.
Q2) Recent research into industrial buyer behavior suggests that:
A) Industrial buyer behavior is a strictly rational process.
B) Industrial buyer behavior is very similar to consumer buyer behavior.
C) Industrial buyers may not behave in a completely rational manner.
D) Industrial buyers operate largely on the "old boy" favoritism system.
E) Industrial buyers tend be more impulsive purchasers.
Q3) When there are changes in how customers make their purchases,the channel manager needs to determine:
A) The underlying sociocultural patterns.
B) Whether these changes are temporary or long-term.
C) Channel members' acceptance of the changes.
D) Environmental changes and analyze them.
E) Whether to make changes to the distribution channel.
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Chapter 9: Motivating the Channel Members
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47 Verified Questions
47 Flashcards
Source URL: https://quizplus.com/quiz/11508
Sample Questions
Q1) Which of the following is not an issue that needs to be addressed in e-alliances?
A) Trust among alliance members
B) Structure of the alliance
C) Protecting each firm's interests
D) Developing commitment among alliance members
E) Gathering information about alliance members' operations
Q2) Clayton Products,Inc.is considering establishing a Distributor Advisory Council.It can expect that this council will provide all of the following advantages except:
A) Improve overall channel communications.
B) Provide a vehicle for identifying mutual needs and problems.
C) Be quite simple to set up and require little ongoing management.
D) Be part of Clayton's overall motivation program.
E) Provide for recognition of all channel members.
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11
Chapter 10: Product Issues in Channel Management
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39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/11509
Sample Questions
Q1) Treating post-sales service as an afterthought is a shortcoming in:
A) Profit management.
B) Channel management.
C) Logistics management.
D) Customer service management.
E) Training management.
Q2) A product differentiation strategy includes all of the following except:
A) It is based on differences in physical characteristics.
B) It is intended to get consumers to perceive a significant difference.
C) It can require channel member cooperation in the way the product is displayed, sold and serviced.
D) Prices to consumers may be higher.
E) Gross profit margins will increase through the life of the product.
Q3) When Levi Strauss Co.introduced its Levi Strauss Signature brand jeans,it was engaging in a(n)__________ strategy.
A) trading down
B) trading up
C) expansion
D) contraction
E) high end
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Chapter 11: Pricing Issues in Channel Management
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/11510
Sample Questions
Q1) Which of the following is a false statement about Oxenfeldt's set of eight classic guidelines for developing pricing strategies?
A) They help channel managers focus on the channel implications of their pricing decisions.
B) They offer some general prescriptions on how to formulate pricing policies to foster cooperation and minimize conflict.
C) They sometimes are irrelevant.
D) They set a framework for pricing decisions.
E) They guarantee results.
Q2) Generally,when manufacturers make major changes in their pricing structure,channel members usually are __________ when manufacturers make major changes in their terms of sale.
A) less uneasy than B) more uneasy than C) as uneasy as
D) unconcerned because changes in terms of sale rarely cause negative reaction from channel members, even
E) as threatening as
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Page 13
Chapter 12: Promotion through the Marketing Channel
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39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/11511
Sample Questions
Q1) One of the main issues Proctor & Gamble P&G)Company had with its Max Factor is:
A) Giant mass market U.S. retailers were not willing to give more shelf space to Max Factor products.
B) P&G's marketing team had failed to gain sufficient brand recognition.
C) Even though P&G threw millions of dollars in trade promotions, sales of the Max Factor brand continued to fall.
D) Foreign sales of Max Factor products were falling.
E) Offering big trade discounts to retailers simply did not work.
Q2) Which of the following is an accurate statement regarding displays and selling aids?
A) Expenditures for this category of promotion are falling.
B) National expenditures for displays and selling aids amount to about $10 million.
C) Most retailers receive few displays and/or selling aids.
D) Displays and selling aids are rarely effective.
E) Often manufacturers have difficulty getting retailers to use displays and selling aids.
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Chapter 13: Logistics and Channel Management
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54 Verified Questions
54 Flashcards
Source URL: https://quizplus.com/quiz/11512
Sample Questions
Q1) Packaging costs are typically __________ for airfreight than for truck freight.
A) higher
B) lower
C) about the same
D) much higher
E) a little higher
Q2) Average ordering costs tend to decrease in rough proportion to the:
A) Size of the order.
B) Distance from buyer to seller.
C) Number of orders.
D) Level of the inventory.
E) Cost per unit.
Q3) EDI systems can perform all of the following except:
A) Transfer orders and confirmations between the manufacturer's and the channel members' computers.
B) Provide information on new products, price changes and promotional programs.
C) Issue bills of lading.
D) Issue invoices.
E) Send notices that the payment is late.
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Page 15
Chapter 14: Evaluating Channel Member Performance
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41 Verified Questions
41 Flashcards
Source URL: https://quizplus.com/quiz/11513
Sample Questions
Q1) If a channel member fails to meet minimum performance standards,the channel manager should:
A) Terminate the channel member.
B) Analyze the channel member's needs and problems.
C) Put the channel member on probationary status with a specific deadline for improved performance.
D) Reduce the channel member's available discounts.
E) Increase the channel member's available discounts and other motivational programs.
Q2) Separate performance evaluations measure channel member performance against one or more criteria when:
A) The number of channel members is very large.
B) Selective distribution is used.
C) Exclusive distribution is used.
D) The number of channel members is very small.
E) An overall picture of channel member performance is easy to obtain.
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16
Chapter 15: Electronic Marketing Channels
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34 Verified Questions
34 Flashcards
Source URL: https://quizplus.com/quiz/11514
Sample Questions
Q1) With regard to channel management,the availability of the Internet means that:
A) Channel management can move to "automatic pilot".
B) Coordinating the marketing mix is not as crucial.
C) Decisions concerning channels will be less complicated.
D) Decisions concerning channels will be more complex.
E) Gaining information about channel members will be easier.
Q2) With regard to income level among online shoppers:
A) The highest percentage of shoppers earn between $50,000 and $99,999.
B) The majority earned over $200,000.
C) There is a strong correlation between income and online shopping.
D) The highest percentage had incomes under $50,000.
E) Computer ownership does not seem to affect online buying.
Q3) The study of online shoppers quoted in the textbook reported that with regard to income:
A) Most online shoppers were low income consumers looking to save money.
B) Earned their income mainly from investments and so have the time to shop on the Internet.
C) The highest percentage of shoppers earn between $50,000 and $99,999.
D) The majority are wealthy with annual incomes in excess of $250,000.
E) The majority have incomes of less than $35,000.
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Chapter 16: Franchise Marketing Channels
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29 Verified Questions
29 Flashcards
Source URL: https://quizplus.com/quiz/11515
Sample Questions
Q1) Which of the following statement most accurately describes a franchise channel?
A) It is just a source of information for consumers.
B) Franchise channels only offer services to consumers.
C) It is a form of wholesale management.
D) It is a type of marketing channel.
E) It is a legal term for retailing.
Q2) According to the text,the most important reason why franchisors adopt franchise channels is:
A) Capital advantages
B) Obtain needed training from franchisees
C) Potential to reduce distribution costs
D) Reduce uncertainty
E) Possible high level of managerial motivation fostered by franchising
Q3) Which of the following is a true statement pertaining to single-unit franchises?
A) This is the most common form of franchise channel structure.
B) All franchisees operating under single-unit franchises own and operate one unit.
C) These franchises operate in environments with little competition.
D) Single-unit franchises enjoy a favorable image among consumers.
E) Single-unit franchises are a very low-cost method of selling.
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Page 18
Chapter 17: Marketing Channels for Services
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39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/11516
Sample Questions
Q1) Which of the following is not a flow that is necessary for many services to move through marketing channels?
A) Information
B) Negotiation
C) Product
D) Promotion
E) Knowledge
Q2) Because services do not exist apart from the provider of services,the customer perceives the service and the channel as being:
A) Separated by space and time.
B) Highly perishable.
C) Highly personalized.
D) Intangible.
E) The same thing.
Q3) Service providers,in effect,are:
A) Manufacturers.
B) Retailers.
C) Manufacturers and retailers combined.
D) Franchisors.
E) Franchisors and franchisees combined.
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Chapter 18: International Channel Perspectives
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38 Verified Questions
38 Flashcards
Source URL: https://quizplus.com/quiz/11517
Sample Questions
Q1) Massive international advertising by well-known U.S.firms has proven to be of substantial benefit to:
A) Foreign firms selling competitive products.
B) Private label manufacturers.
C) Foreign distributors selling well-known U.S. products.
D) Foreign firms seeking to export their products to the U.S.
E) Small U.S. businesses competing in the same foreign market.
Q2) With regard to economic factors in foreign environments it should be noted that all of the following may occur except:
A) Inflation may be much higher.
B) Recessions can be more severe.
C) Interest rates could be higher.
D) Technology is changing at a rapid pace.
E) Fluctuations in foreign exchange.
Q3) All of the following are true about foreign intermediaries except:
A) They are often underfinanced.
B) They stock limited assortments of products.
C) They are often quite small by U.S. standards.
D) They often expect long credit terms.
E) They often have a relatively low cost structure due to economies of scale.
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