ABOUT “EXERCISE” 1
Crane, F (2012). Marketing for Entrepreneurs: Concepts and Applications for New Ventures, 2nd Edition.
In a one- to –two -page paper for each question, answer the following.
Purple cows are a highly effective basis for a new product upon which to base a new venture. It is possible for
all new product ideas to be purple cows. Do they need to be? If not why not; if yes, how would you take a
nonpurple cow and turn it into one? Can excellent marketing make up for a mediocre product proposition or
As an entrepreneur planning to market your new product, is it reasonable to expect or forecast 100% diffusion?
Why or why not? If not realistic, what would be a realistic goal? Be sure to include how the iterative and spiral
the process may be helpful in answering this question.
Why is branding especially important for the success of a new product upon which a new venture is based?
Imagine you are in the market for a new cell phone, car, or appliance. Why are you willing to pay more for
certain products when most have very similar functional benefits?
In the context of marketing, is having a great product enough to ensure success?
Consider your role as the CEO of a new venture start-up. What are the ways to forge a strong emotional
connection between your target customers and your products? What are the benefits of doing so?
As there are six questions (with sub-sections in some cases) to be
answered this could seem to be quite onerous. I, of course, welcome as
deep the analysis you would like to provide on these topics and they are
worthy of your time and consideration. However, I will be satisfied if one can
directly address the answers in the area of one-two pages per question if
that is all that is needed. However, Keller requires they be answered so
please be sure to do so providing answers or examples backed with
references where possible (remember the 80/20 rule-- 80 original and 20
references). Also, it would likely be easiest to answer these in a Q& A
format- i.e. list the question and then directly address.