1.An entrepreneur is a person who invest, but does not assume the risks to set up and operate a profitable business.
2.Advertising is any form of nonpersonal communication about an organization, a good, a service, or an idea by an identified sponsor.
3.Procter and Gamble successfully segmented the laundry market into one segment with its Tide product.
4.Shops on Second Street in Long Beach, Melrose Avenue in Los Angeles, and independent retail shops in Palmdale illustrate various marketing niches by retailers.
5.Product placement is a form of advertising seen on television and I movie theatres.
6.Entrepreneurs tend to be very conservative and think inside the box.
7.The 4 P’s of marketing are price, prestige, primary market, and production.
8.Staples and Home Depot are examples of retail category killers.
9.Predatory pricing is legal in all 50 states.
10.Using Jaguar and Aston Martin cars in James Bond movies is an example of product placement.
11. Prestige pricing involves setting a very low price so that status or quality conscious consumers will be attracted to the product.
12. The purpose of loss leader pricing is to attract customers in hopes they will buy other products as well, including discretionary products with high mark-ups.
13. Segmenting the market is rarely a good idea in today’s marketplace.
14. Online retailing is decreasing in the United States.
15. Pricing is sometimes based on the perceived value on the part of the consumer.