Marketing Midterm

Answer True or False

9. A steady stream of press releases to a single source eventually gets your business noticed.
A. True

B. False

Answer: B. False. Journalists and news directors receive your information with one question in mind: "Will this information interest my readers or viewers?" Instead of a steady barrage of so-so information, fax or e-mail only what is of special interest or newsworthy; follow up by phone.

10. The best way to contact a new business-to-business prospect is by phone.
A. True

B. False

Answer: A. True. The traditional contact sequence in business-to-business sales is: Call, mail, call. Those who mail first, then call, are generally disappointed to learn the prospect can't remember receiving their materials.

11. A typical response rate for direct mail is 1 to 3 percent.
A. True

B. False

Answer: A. True. That's why testing is so important. Mail 3,000 to 5,000 pieces first, and gauge results before mailing to the full list.

12. With all the information available on the Internet, you no longer have to do your own primary research.
A. True

B. False

Answer: B. False. The Web has reduced the amount of primary research necessary to launch a business, but it can't replace testing your product or service with your real-life target audience, using tools such as surveys and informal focus groups.

13. You should maximize a limited special events budget by taking a small booth in as many community events as possible.
A. True

B. False

Answer: B. False. A small booth in a fair with several hundred others gets lost in the crowd. A bigger booth or sponsorship in one key event allows your company to shine.

14. A one-on-one meeting is going well when your prospect is doing most of the talking.
A. True

B. False

Answer: A. True. The two most important components of effective interaction with a prospect are asking questions and listening to the answers. If you're doing most of the talking, chances are your meeting isn't going well.

15. It's better to run an ad where there is less competition so it will be noticed.
A. True

B. False

Answer: B. False. Media such as newspapers create what's called a "search corridor" by clustering competitive advertising in a designated section or on a particular day. This is where prospects look when they're ready to buy. Running an ad elsewhere is like opening a store a mile away from the mall--you get a lot less traffic and fewer sales.

Kim Gordon is the owner of National Marketing Federation and is a multifaceted marketing expert, speaker, author and media spokesperson. Her latest book is Maximum Marketing, Minimum Dollars.

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This article was originally published in the April 1999 print edition of Entrepreneur with the headline: Marketing Midterm.

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