Recognize a Potential Market

Write your complete name.

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

• A. Opportunity – seeking
• B. Opportunity – seizing
• C. Opportunity – screening
• D. Sources of opportunity

2. 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.

• A. Entrepreneurial mind frame
• B. Entrepreneurial gut game
• C. Entrepreneurial heart flame
• D. Entrepreneurial heart frame

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

• A. Entrepreneurial mind frame
• B. Entrepreneurial gut game
• C. Entrepreneurial heart flame
• D. Entrepreneurial heart frame

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

• A. Entrepreneurial mind frame
• B. Entrepreneurial gut game
• C. Entrepreneurial heart flame
• D. Entrepreneurial heart frame

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

• A. Economic forces
• B. Sociocultural forces
• C. Political forces
• D. Technological forces

For questions 6 and 7 refer to the following statements: 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
• B. A and C
• C. A and D
• D. B and C

For questions 6 and 7 refer to the following statements: 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. 7. Which are the factors that influence the buyer to have a less threats because of the bargaining power?

• A. A only
• B. A and C
• C. A and D
• D. B and C

8. They are the ones who pay cash in exchange for your goods and services.

• A. Buyers
• B. Competitors
• C. Sellers
• D. Suppliers

9. 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