Read Chapter 4 and 5 from the PPT and answer the Study Questions at the end of each chapter. Please do not copy the question, you can just answer them.

Chapter 4 Study Questions

Q.1 What are the five steps to formulate a successful marketing plan?
Q.2 How would you apply and use Google digital tools?
Q.3 Describe keyword lists to test the plan.
Q.4 How would you use digital channels to create demand?
Q.5 List three kinds of segmentation. For what kinds of products or services would one kind be more important than another?
Q.6 What are product positioning and perceptual mapping?
Q.7 What is viral marketing? Provide an example not referred to in this book. Why do you think a viral effect was created in your example?
Q.8 How can a small company use Google AdWords for market research?
Q.9 What factors determine whether the business would offer discounts?
Q.10What are the three pricing objectives? Give an example of an industry that would use each.
Q.11 You own a cafe in a large urban area that carries a total of $500,000 per year in fixed costs. Your cafe sells only coffee for $2.50 per cup. The average variable cost per cup (coffee mix, cup costs, etc.) is $1. How many cups do you need to sell per day to break even? If the price of the coffee decreased by 10 percent for a special promotion (with all other costs staying the same), how many cups would you need to sell to break even?

Chapter 5 Study Questions

Q.1 What are the key attributes of crowdsourcing?
Q.2 What are the main differences between open and closed innovation?
Q.3 Name four different types of crowdsourcing and describe how they differ
Q.4 What are the advantages of tournament-based crowdsourcing?
Q.5 What is the main difference between open-source development and crowdsourced development?
Q .6 where would you place on figure 5.2 a (a) development done entirely by an in-house R&D group and a (b) collaborative development done by a closed group of companies. (Use Sematech as your model.)
Q.7 Name four different applications of crowdsourcing that can be used by entrepreneurs in starting and growing their ventures? How do they differ?
Q.8 Name five different types of crowdfunding and how they differ. What are the advantages of reward-based funding over equity-based crowdfunding? Does the hybrid model remove these disadvantagesexplain your answer?
Q.9 Name three risks associated with crowdsourcing and how these can be managed.
Q.10 Describe a business that is not mentioned in this chapter but which uses the crowd as a key part of their business model. Explain how this can create a sustainable competitive advantage