.

crowdfunding platform that allows people to fund their favorite creators using patronage model

true

Bootstrapping and starting slowly enables entreprenuers to avoid any and all risk

False

Crowdfunding backers invest soley on the merits of a product rather than their impression of the entreprenuer involved with the…

False

How does equity crowdfunding differ from other types of crowdfunding

Investors are given the opportunity to become company shareholders

How much money can be raisd through crowdfunding?

from small amounts to amounts in the millions of dollars

If you cannot convey your product or service idea to your audience of prospective backers in a few short…..

Spend time getting a clear sense of the essence of your product

Which of the following accurately describes a major advantage to crowdfunding?

Funding can be procured without giving away ownership stakes

Coolest Cooler ran a Kickstarter campaign that exceeded their original goal but they failed to deliver the product to some of its backers. What is this an example of?

Losing faith from supporters

Joe is opening a small restaraunt, On weekends he works with his cousin to construct the tables, chairs and counters. What is this an example of?

sweat equity

Santana starts their company with computers that they found in an online marketplace… This helps them reallocate funds to other areas of the company rather than on supplies. What is this an example of?

penny pinching

a new company had the idea to have a flash mob to introduce its product. What type of marketing is this?

guerilla

All startups use guerilla marketing because it hardly ever fails.

False

An entreprenuer would be contantly tweaking the marketing mix to do which of the following?

to adapt a competitive and ever-changing market

Entreprenurial marketing is distinct from traditional marketing because the entreprenurial marketing focuses on ______

interacting with the customers

In a pitch its a good idea to use the 4 P’s framework. Will organize your review of the product….

true

New York City shop Squish marshmallows shares images on Instagram twice a day…..which principle of social media marketing does this highlight?

post regular updates

Social media is used to inspire, entertain, and build trust. It is less effective for direct sales

True

What should be true about a company’s logo?

It should create an emotional connection with the customer

Which of these best desribes the packaging element of the 7 P’s?

the visual element of the external appearence of the product

Which type of marketing has become one of the most powerful strategies for brands to engage their target?

influencer