ETEM ii

Question 1

categories of market size

Answer 1

Potential Available Market (PAM)

Total Addressable Market (TAM)

Serviceable Available Market (SAM)

Serviceable Obtainable Market (SOM)

Question 2

market sizing approaches

Answer 2

Top-down Approach

Bottom-up Approach

Question 3

target customer group

Answer 3

Consumer or business

Geographic

Demographic

Psychographic

Generation

Cohort

Life stage

Behavioral

Question 4

Is more about marketing spirit that distinguishes itself from traditional practices.

Answer 4

Entrepreneurial marketing

Question 5

The emphasis of this is on building a solid connection between the brand and the customer.

Answer 5

Relationship marketing

Question 6

This involves forming markets and creating innovative products. Here the entrepreneur’s company acts as a leader rather than a follower

Answer 6

Expeditionary marketing

Question 6

Here customers are marketed to as individuals. All marketing efforts are tailor-fitted.

Answer 6

One to one marketing

Question 7

This makes use of the power of technology to interrelate with a customer in an actual time.

Answer 7

Real time marketing

Question 8

This considers leveraging the power of Internet tools like e-mail social networking to back-up marketing efforts.

Answer 8

Digital marketing

Question 8

It places marketing messages on the Internet like Facebook and Instagram so they can be shared and expanded on by customers.

Answer 8

Viral marketing

Question 9

In a journal article written
by________________, the concept of entrepreneurial marketing consists of six elements, which are the Customer intensity, Continuous innovation, Strategic flexibility, Calculated risk-taking, Proactiveness, and Resources leverage.

Answer 9

Michael H. Morris

Question 10

This feature concentrates on the enthusiasm, passion, zeal, and belief in marketing that makes the company successful.

Answer 10

Customer intensity

Question 11

An entrepreneurial company must constantly create innovative ideas and transform them into new or improved products and/or services or processes

Answer 11

Continuous innovation

Question 12

An entrepreneurial company must display an enthusiasm to always evaluate and fine-tune its strategies, action plans, techniques of resource allocation, structure, culture, and management systems.

Answer 12

Strategic flexibility

Question 13

Risk-taking refers to pursuing novel opportunities. Entrepreneurs take ________________, but some can be serious for the future of the company.

Answer 13

Calculated risk-taking

Question 14

Entrepreneurs are conscious of the significance of the external marketing environment; however, they do not take it as a given. They recognize it as a horizon of possibilities, simply, entrepreneurs try to reassess the elements of the external environment to lessen its ambiguity, moderate reliance and exposure of the company, and/or transform the environment in which the company functions.

Answer 14

Proactiveness

Question 15

Entrepreneur’s ambitions usually beyond their resources; hence they are obligated to utilize their resources in the best possible way. They control their resources so that they can use them longer than others have used them in the past. They use resources that others do not regard as resources. They use other people’s companies’ resources to accomplish their own goals. They combine one resource with another to produce a greater shared value.

Answer 15

Resource leverage

Question 16

the one that differentiates an entrepreneur from the rest of his competitors.

Answer 16

Personal Brand

Question 17

With a personal brand an entrepreneur can build trust with his customers and position himself as an authority and a thought leader in the industry.

Answer 17

Trust and authority

Question 18

With a personal brand, it easier for an entrepreneur to pitch and be found by media like online publications, magazines, television’ radio, podcasts, and others. The media is in continuous search of experts that can share their visions with the audience.

Answer 18

Get featured in media

Question 19

With a personal brand it clearly articulates who the entrepreneur is, what he does, and how he helps others. The brand makes it easier for other people and other entrepreneurs to see value in connecting with the owner of the business.

Answer 19

Build a network

Question 20

Building a personal brand that positions an entrepreneur as the go-to expert in a particular industry or niche helps him to draw a lot of his ideal customers. When an entrepreneur is positioned as an expert, it’s also easier for people to refer customers to him.

Answer 20

Attract more customers

Question 21

With strong, personal brand charging premium prices for products and services is justifiable. Without a brand, an entrepreneur becomes a commodity that competes on price. Besides, there will always be competitors that can beat his price.

Answer 21

Premium pricing

Question 22

Over time, a business will surely evolve. An entrepreneur may even jump to multiple businesses in diverse industries over the course of his career. A personal brand stays with him as he moves from one venture to the next

Answer 22

Create last platform