Advice to Entrepreneurs on Starting a Small Business Reading Answers
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Content Writer at Study Abroad Exams | Updated On - Jan 31, 2023
Advice to Entrepreneurs on Starting a Small Business Reading Answers contains a total of 6 paragraphs. This IELTS GT reading topic contains 6 questions. Advice to Entrepreneurs on Starting a Small Business Reading Answers is taken from Practice Tests for IELTS 2 - Volume 2. Candidates in this IELTS Section will be shown various question types with clear instructions. Advice to Entrepreneurs on Starting a Small Business Reading Answers is an IELTS Reading passage that comprises one type of question: no more than two words. Candidates are required to read each paragraph attentively and thoroughly. To gain proficiency, candidates can practice from the IELTS reading practice test.
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Section 1
Read the Passage to Answer the Following Questions
Advice to Entrepreneurs on Starting a Small Business Reading Answers
Step 1:
Determine your marketing strategy. When the same aspect of the product appeals to a broad market base an undifferentiated marketing strategy works. Conversely, when advertising to different markets a differentiated strategy highlights different aspects of the product. A concentrated strategy, meanwhile, should be used when just one particular segment of the market is targeted, rather than a range of different segments.
Step 2:
Try out different ways of promoting your product. For example, test a variety of advertising campaigns within the same market base. Make sure each campaign emphasizes your product’s distinct selling point, and appeals to the emotions of each group you market your product to. Or consider testing the same campaign across more than one market base — you may find that one of them likes your product for a reason you hadn’t thought of. Or try placing your product in different types of stores, frequented by different consumer groups. Then evaluate the success of each campaign, and act on customer feedback gained from salespeople or follow-up surveys.
Step 3:
Seed the market, which means giving potential customers product samples, showing them why they need (or want) it. Strive to get your product into the hands of industry leaders, or companies that may need to purchase more than one item. Ask experts to test your product and provide testimonials.
Step 4:
Make your testimonials public by quoting them on your website and in your brochures, particularly the ones provided by experts and industry leaders. This will build credibility. Distribute press releases to the media to announce your product’s appearance, or any surprising and positive findings of the experts who have examined it.
Step 5:
Begin your chosen advertising campaign, targeting the markets you deemed as most receptive to your product. Hold a product release or grand opening event to generate local interest and publicity. Place ads in the publications your target market reads, on local radio and TV stations, and in newspapers.
Step 6:
Evaluate your product’s success on an ongoing basis. Note any longer-term changes in the market base, or in customer expectations of the product, and then reposition it as needed. For example, Proctor & Gamble repositioned its diapers by emphasising their range of sizes. They began marketing them under the name of Pampers Phases, which were geared toward babies and toddlers of different ages.
Section 2
Solution and Explanation
Questions 15–21
Complete the table below.
Choose NO MORE THAN TWO WORDS from the text for each answer.
Write your answers to boxes 15-21 on your answer sheet.
| Starting a small business | |
| Marketing | Decide on a strategy: undifferentiated – the same strategy for the whole market. differentiated – different strategies for different market segments. 15 …………………. – a strategy for only one market segment. |
| Promotion | Try different approaches, e.g.: Try out different ad campaigns for the product (stress the 16 ………………….). Try out one campaign on different markets. Put the product in a variety of 17 …………………. . Evaluate each campaign and respond to 18 …………………. collected from customers. |
| Seeding the market | Distribute 19 …………………. to significant individuals or organisations |
| Publicity | Publicise 20 …………………. . Write notices for the media. |
| Advertising | Start the ad campaign. Hold a special event to launch the product. |
| Evaluation | Be aware of possible market changes over time. If necessary, 21 ………………. the product. |
Queston 15:
Answer: concentrated (strategy)
Supporting Sentence: A concentrated strategy, meanwhile, should be used when just one particular segment of the market is targeted, rather than a range of different segments.
Keywords: market is targeted, different segments
Keyword Location: Step 1, last sentence
Explanation: In step 1, of the passage the author mentions that a focused approach should be adopted. When only one section of the market is addressed, rather than a number of diverse divisions. Hence concentrated is the correct answer.
Queston 16:
Answer: selling point
Supporting Sentence: Make sure each campaign emphasizes your product’s distinct selling point, and appeals to the emotions of each group you market your product to.
Keywords: campaign emphasizes, appeals to the emotions
Keyword Location: Step 1, line 2
Explanation: In step 2, of the passage the author mentions that each campaign stresses your product's unique selling feature. It appeals to the emotions of each demographic to whom you promote your goods. Consider testing the very same campaign across other market segments; you could discover that one of these likes your item for a reason you hadn't considered. Hence selling point is the correct answer.
Queston 17:
Answer: stores
Supporting Sentence: try placing your product in different types of stores, frequented by different consumer groups.
Keywords: different types of stores, different consumer groups
Keyword Location: Step 2, line 4
Explanation: In step 2, of the passage the author mentions that placing your goods in a variety of stores that cater to different consumer segments. Then, analyse each campaign's performance and act on customer
feedback either from salesmen or follow-up surveys. Hence stores is the correct answer.
Queston 18:
Answer: feedback
Supporting Sentence: Then evaluate the success of each campaign, and act on customer feedback gained from salespeople or follow-up surveys.
Keywords: evaluate, success of each campaign, and act on customer feedback
Keyword Location: Step 2, last line
Explanation: In step 2, of the passage the author mentions placing your goods in a variety of stores that cater to different consumer segments. Then, analyse each campaign's performance and act on customer feedback either from salesmen or follow-up surveys. Hence feedback is the correct answer.
Queston 15:
Answer: (product) samples
Supporting Sentence: Seed the market, which means giving potential customers product samples, showing them why they need (or want) it.
Keywords: potential customers product samples
Keyword Location: Step 3, last 1
Explanation: In step 3, of the passage, the author mentions that seeding the market entails providing potential clients. With product samples and demonstrating why they require (or desire) it. Hence samples is the correct answer.
Queston 15:
Answer: testimonials
Supporting Sentence: Make your testimonials public by quoting them on your website and in your brochures, particularly the ones provided by experts and industry leaders
Keywords: testimonials public, experts and industry leaders
Keyword Location: Step 4
Explanation: Make these testimonials public by including them on your site and in brochures, especially if they were offered by experts or industry leaders. Hence testimonials is the right response.
Queston 15:
Answer: reposition
Supporting Sentence: Note any longer-term changes in the market base, or in customer expectations of the product, and then reposition it as needed.
Keywords: market base, or in customer expectations
Keyword Location: Step 6, line 2
Explanation: In step 6, of the passage, the author mentions taking note of any long-term changes in the product's market base or consumer expectations. Then reposition it as appropriate. Proctor & Gamble, for example, repackaged its diapers by emphasising their variety of sizes.
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