Entrepreneurship

It is the process of gathering, analyzing and interpreting the information about the product or the services to be offered for sale in the market, the market and about past, present and any potential consumers for the products.

• Data Gathering

• Primary Research

• Secondary Research

• Market Research

What is the relationship between unique selling proposition and value proposition?

• a framework of each business industry

• meets your competitors needs wants

• persuades another to exchange money for a product or service

• connected with only one particular thing

The following variables are to be considered in behavioral segmentation, except

• perception

• brand concept

• reaction

• benefits

What is the function of Value Proposition?

• used to power up sales

• help customers buying habits

• provide value to your customers

• used to convince customer to purchase a particular product or services.

Give an example in promotion using Value Proposition and Unique Selling proposition.

• multinational business

• ordinary sari-sari store

• fruit shake stand

• with the slogan “Langhap Sarap”

Tangible things that can be seen refers to

• Service requirement

• Output requirement

• customer requirements

• Entrepreneur’s output

Service requirement is a/an ___________________ thing or product that cannot be touched but customer can feel he fulfillment.

• Tangible

• Service

• Intangible

• Output

Geographic segmentation refers to:

• Divided according to geographical location

• Divided based consumers.

• Divided in terms for customers think and believe

• All of the above

The following are tips for the entrepreneur on how to create an effective unique selling proposition to the target customers, except

• Identify and rank the uniqueness of the product or services characteristic

• Be very specific

• Keep it short and simple

• Completeness of proportion

A data gathering technique where it can be done via direct mail, over the phone, internet or e-mail.

• Data Gathering

• Survey

• Focus Group Discussion

• Personal Interview