Summative Test in Entrepreneurship

It is a powerful and sustainable high-level marketing strategy used to create or influence a brand.

• Branding

• Strategy

• Brand Name

• Brand Strategy

It is a long-term design for the development of a popular brand in order to achieve the goals and objectives.

• Branding

• Strategy

• Brand Name

• Brand Strategy

Which of the following is NOT an interpretation of the word Brand?

• Logo

• Vision

• Business

• Legal instrument

Which of the following refers to the human workforce involved in the manufacture of products?

• Machine

• Manpower

• Materials

• Method

Which of the following refers to the manufacturing equipment used in the production of goods or delivery of services?

• Machine

• Manpower

• Materials

• Method

It refers to the process or technique of converting raw materials to finished products.

• Machine

• Manpower

• Materials

• Method

It describes the rationale of how an organization creates, delivers, and captures value in economic, social, and cultural contexts.

• Value Chain

• Supply Chain

• Business Plan

• Business Model

It is a replica of a product.

• Input

• Output

• Prototype

• Suppliers

The following are important phases in developing a business model EXCEPT

• Establishing business process

• Developing strong value proposition

• Recording business resources

• Marketing the elements of the sales

What is the result when sales exceed the cost to produce goods or render services.

• Forecast

• Mark up

• Revenue

• Sales