Questions from General Entrepreneurship

Q: What are the four elements of a firm’s “marketing mix”?

What are the four elements of a firm’s “marketing mix”?

Q: Describe the difference between a core product and an actual product.

Describe the difference between a core product and an actual product.

Q: Contrast cost-based pricing and value-based pricing.

Contrast cost-based pricing and value-based pricing.

Q: What is meant by the phrase “price-quality attribution”?

What is meant by the phrase “price-quality attribution”? How does an understanding of this phrase help an entrepreneur know how to price a product?

Q: Contrast the roles of advertising and public relations in promoting a firm

Contrast the roles of advertising and public relations in promoting a firm and its products.

Q: What is the purpose of writing a blog and establishing a presence

What is the purpose of writing a blog and establishing a presence on Facebook and Twitter?

Q: Contrast the advantages of selling direct versus the advantages of selling through

Contrast the advantages of selling direct versus the advantages of selling through an intermediary.

Q: What is the purpose of having an organized sales process?

What is the purpose of having an organized sales process?

Q: How should a firm go about constructing a product attribute map?

How should a firm go about constructing a product attribute map?

Q: What is meant by a firm’s positioning strategy?

What is meant by a firm’s positioning strategy?