quiz

6. C 7. D

A. Preferences and tastes of the customers easily change. B. The buyer has the potential for backward integration. C. The cost of switching the supplier cost is minimal. D. Product differentiation is highly noticeable. 6. Which are the factors of the substitute product that pose a great threat in the industry environment? A. A, B, C, D C. A and D B. A and C D. B and C 7. Which are the factors that influenced the buyer to have a less threats because of the bargaining power? A. A only C. A and D B. A and C D. B and C

D.

All except one does NOT belong to the group? a. Unfair trade practices b. Strikes c. Political protest d. Product

C.

Considered favorable indicators for doing business in that particular location. a. structure of the segment b. capability of the business c. size and growth of the segment d. segmentation marketing

To undertake

Entrepreneur means

A.

Geographic segmentation refers to: a. Divided according to geographical location b. Divided based consumers. c. Divided in terms for customers think and believe d. All of the above

A.

Give example in promotion using Value Proposition and Unique Selling proposition. a. with the slogan "Langhap Sarap" b. ordinary sari-sari store c. multinational business d. fruit shake stand

initiative

It is a personality factor which means "doing things even before being told."

persuasion

It is a personality factor which means convincing customers to buy the product

Entrepreneurial gut game

It is the ability of entrepreneur that can sense without using the five senses, also known as intuition

Opportunity seeking

It is the process of considering, evaluating, and pursuing market-based activities that are believed to be advantageous for the firm

Market research

It will determine entrepreneur possible customers in one locality

Entrepreneurial Heart flame

One of the essetials of entrepreneur's opportunity seeking that refers to the driven passion of an individual.

A.

Select type of customer requirement a. service requirement c. service responsibility b. service oriented d. service fulfillment

tangible

Service requirement _____________ thing or product not able to touch but customer can feel the fulfillment.

D.

Societal environment includes the following, except: A. Economic forces C. Political forces B. Sociocultural forces D. Natural resources

Past experiences

Source of entrepreneurial idea where expertise and skills developeb by a person from its previous work can lead to the opening of a related business enterprise.

Output requirement

Tangible things that can be seen refers to what?

Fabian entrepreneur

The entrepreneur who is skeptical about the changes in the company is called?

drone Entrepreneur

The entrepreneur who lives on the labor of others is called?

innovative Entrepreneur

The entrepreneurs who create new ideas are called?

D.

The following are the forces competing within the industry except one: A. Potential new entrants and Substitute Products B. Buyers and Suppliers C. Rivalry among existing firms D. Needs and Wants

B.

The following variable to consider in behavioral segmentation, except. a. perception b. brand concept c. reaction d. benefits

D.

The intensity of rivalry among existing firms is characterized to the following factors except one: A. Diversity of rivals. B. Number of competing firms. C. Characteristics of the products or services. D. The product represents a high percentage of the buyer's cost

D.

Which of the following is NOT true? a. Entrepreneurship create organizations b. Improves the life of the entrepreneur alone c. Entrepreneurs improves the economy d. None of the choices

B.

Which of the statement is NOT true? a. An entrepreneur will patiently wait for his efforts to bear fruit. b. The profit of the entrepreneur is immediate. c. All entrepreneurs are successful d. Entrepreneurs are researchers

C

Which of the statements below is true? a. Entrepreneur has limited career opportunities. b. Entrepreneurs are prone to constant high income. c. Entrepreneurs are contributor to the development of the society. d. Entrepreneurs are the reasons for unemployment problem.

D.

The term behavioral segmentation refers to: a. divided based on consumers b. divided in terms for customers think and believe. c. divided according to geographical location. d. divided according to customers behavior pattern as they interact with a company.

Imitating Entrepreneur

These are entrepreneurs who are to follow the path shown by innovative entrepreneur

Social Entrepreneur

They are entrepreneurs who drive social innovation and transformation in various fields.

Buyers ​

They are the one that pays cash in exchange to your goods and services

Entrepreneurial mind frame

This is essential to opportunity seeking which allows the entrepreneur to see things in a positive and optimistic light in the midst of crisis or difficult situations.

Unique selling Proposition

This refers to how you sell your products or services to your customer

D.

Tips for the entrepreneur on how to create an effective unique selling proposition to the target customers, except. a. Identify and rank the uniqueness of the product or services characteristic. b. Very specific c. Keep it short and simple d. Completeness of proportion

Technological Discovery and advancement

What entrepreneurial idea will you recognized, if you consider the new discovery and advancement of technology as source of opportunity?

B.

What is market size? a. tangible things that can be seen. b. Size of arena where the entrepreneur will play their business c. The most important part to the success of the company d. another variation of segmentation marketing

A.

What is the first step in conducting a strategic marketing? a. Estimate the potential market b. Estimate the customers who probably dislike buying your product c. Estimate the market share d. Estimate business funding.

B.

What is the function of Value Proposition? a. use to power up sales b. convince customer to purchase a particular product or services. c. customers buying habits d. provide value to your customers

A.

What is the relationship between unique selling proposition and value proposition. a. a framework of each business industry b. meet your competitors needs wants. c. persuades another to exchange money for a product service's d. connected with only one particular thing

Economic Forces

What variable of societal environment includes income level and employment rate?

Opening of Entrepreneurial venture

Which among the following is the result of identifying entrepreneurial opportunities?

D.

Which is NOT a career for an entrepreneur? a. Business consultant b. Sales c. Research and Development d. Domestic Helper

D.

Which of the choices is NOT part of the environmental factors? a. Political b. Weather condition c. climate d. family background of the manager

People's Interest

Which of the following good sources of entrepreneurial ideas determine the interest, hobbies and preferences of people

D.

Which of the following is NOT a function of an entrepreneur? a. Skills management b. Risk taking c. Conduct research d. Make no changes with his product