1. According to the textbook, most experts recommend __________ pricing because it hinges on the perceived value of a product or service

   		strategic
   		tactical
   		value-based
   		price-based
   		competitive-based

1. Which of the following is FALSE ?

   		Market segmentation is important because a new firm typically has only enough resources to target one market segment, at least initially
   		A reference account is an early user of a firms product who is willing to give a testimonial regarding his or her experience with the product
   		A product, in the context of the marketing mix, is the good or service a company offers to its target market
   		Many entrepreneurs make the mistake of positioning their companys products or services on features rather than benefits
   		A firms marketing mix is the assortment of products and services that it sells

1. There are two major advantages of getting a loan vs investment capital:

   		no ownership in the firm is surrendered and interest payments are tax deductible
   		the money doesnt have to paid back and no ownership in the firm is surrendered
   		banks are reliable sources of funding for startups and interest payments are tax deductible
   		banks are reliable sources of funding for startups and lenders typically take an active interest in borrowers
   		the money doesnt have to paid back and lenders typically take an active interest in their borrowers