Quiz on Identifying Opportunities in Entrepreneurship

What is a critical skill for entrepreneurs in identifying business opportunities?

• Recognizing trends

• Marketing products

• Hiring employees

• Managing finances

Which of the following is an example of a technological trend creating business opportunities?

• Rise of digital payment systems

• Increase in cash transactions

• Decline in online shopping

• Growth of traditional retail stores

What method involves recognizing pain points experienced by consumers?

• Solving problems

• Observing trends

• Market research

• Competitive analysis

Which of the following is a gap in the market identified in the Philippines?

• Abundance of delivery services

• High demand for luxury goods

• Saturation of retail stores

• E-commerce logistics solutions

What is the purpose of market research in identifying opportunities?

• To gather and analyze information

• To create marketing strategies

• To hire employees

• To develop financial plans

What does customer segmentation help entrepreneurs understand?

• Competitor strategies

• Industry regulations

• Customer demographics

• Market size

Which analysis tool evaluates internal and external factors affecting a business?

• Break-even Analysis

• Market Research

• SWOT Analysis

• PESTLE Analysis

What does PESTLE analysis evaluate?

• Customer preferences

• Macro-environmental factors

• Market competition

• Financial projections

What is the primary focus of a feasibility study?

• Customer satisfaction

• Employee training

• Brand recognition

• Market demand

Which of the following is an example of a strategic thinking question?

• How can we differentiate our product from competitors?

• What is the target market for our product?

• What are the benefits of franchising?

• What is the definition of market research?