Entrepreneurship - Quiz 2 (Part 2)

This macroenvironmental source of opportunity includes the demographics and cultural dimensions that govern the relevant entrepreneurial endeavor.

• Economic Environment

• Socio-cultural Environment

• Ecological Environment

• Technological Environment

The need for segmentation would be crucial in micromarket analysis because the defnition of value for money differs from group to group.

• True

• False

This allows the entrepreneur to see things in a very positive and optimistic light in the midst of crisis or difficult situations.

• Entrepreneurial Heart Frame

• Entrepreneurial Mind Frame

• Entrepreneurial Gut Game

Entrepreneurs create value by introducing new products or services or finding better ways of making them.

• True

• False

Using a set of demographics will be the most complicated approach in determining the target segment.

• True

• False

Consumer preferences do not change.

• True

• False

The longer the customer wants to use the product, the greater the chances of creating lasting loyalty.

• True

• False

Market sources of opportunities can be discovered from increased or decreased demand as well as higher or lower supply.

• True

• False

This refers to the specific target market segment of a particular enterprise.

• Macromarket

• Micromarket

In an entrepreneurial endeavor, there will sometimes be risks.

• True

• False