Which factor does not characterize the intensity of rivalry among existing firms?

Characteristics of the products or services

The product represents a high percentage of the buyer's cost

What outcome best reflects the value of identifying entrepreneurial opportunities in the early stages of business planning?

Creation of entrepreneurial ideas that can be developed into viable ventures

Estimation of business funding requirements

Identification of customers who may reject the product

Completion of the entrepreneurial process

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

persuades another to exchange money for a product or service

a framework of each business industry

meets your competitors needs wants

What is the function of Value Proposition?

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

provide value to your customers

What is an example in promotion using Value Proposition and Unique Selling proposition?

with the slogan 'Langhap Sarap'

What does term behavioral segmentation refers to?

divided according to customers behavior pattern as they interact with a company

divided in terms of how customers' think and believe

divided according to geographical location

What does Geographic segmentation refers to?

Divided according to geographical location

Divided in terms for customers think and believe

Size of arena where the entrepreneur will play their business

Tangible things that can be seen

The most important part to the success of the company

Another variation of segmentation marketing.

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

What criteria should be used to evaluate the effectiveness of the first step in conducting strategic marketing?

The ability to estimate the potential market and identify customer needs

The ability to calculate business funding requirements

The ability to predict customer rejection rates

The ability to design promotional materials

What factors should be considered when evaluating the interview process used to validate customer-related concerns?

The clarity of questions and the openness of customers to share honest feedback

The interviewer's ability to persuade customers to buy the product

The use of promotional materials during the interview

The interviewer's attire and presentation

What are the additional elements in the 7Ps model, and how do they enhance the traditional 4Ps in service marketing?

They add People, Process, and Physical Evidence to better address service-based businesses

They replace the original 4Ps with new concepts

They focus only on product-based marketing

They eliminate the need for promotion and pricing strategies

How does packaging influence customer perception and decision-making in marketing?

It shapes how the product is presented and perceived

It determines the price of the product

It defines the product features

It controls the distribution channels

What makes services different from tangible products, and how can businesses design service experiences to improve customer satisfaction?

Services are intangible and require customer interaction

Services are physical goods that can be stored

Services are cheaper than products

Services are easier to market than products

How can branding be applied as the ultimate strategy to build customer loyalty and market identity?

By creating a strong, recognizable brand that connects emotionally with customers

By organizing the marketing mix into product, price, place, and promotion

By using the 7Ps model to improve service delivery

By hiring more people to manage customer service

Where can businesses apply strategies to optimize the point of sale and improve customer access to products or services?

by selecting strategic locations and channels for selling

by making the product name more memorable

by offering intangible benefits

by advertising the product more widely

How can you analyze the relationship between manpower and the success of product testing in a business operation?

By evaluating the skills and roles of people involved in testing

By identifying the raw materials used in production

By forecasting the business revenue

By designing the product packaging

What method can be analyzed to determine its impact on the efficiency of creating a product prototype?

The step-by-step procedure used in product development

The recruitment process of employees

The selection of suppliers for raw materials

The branding strategy of the business

What criteria can be used to evaluate the effectiveness of the selected method in developing and testing a product prototype?

The method's ability to reduce production costs and improve efficiency

The number of people recruited for the business

The location of the business enterprise

The brand name chosen for the product

Entrepreneurship Game

Authored by Christine Cagampang

Life Skills

12th Grade

40 Questions

Used 1+ times

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Opportunity - seeking

Opportunity - seizing

Opportunity - screening

Sources of opportunity

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who are the ones who pay cash in exchange for your goods and services?

Buyers

Competitors

Sellers

Suppliers

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is essential to opportunity-seeking that allows the entrepreneur to see things positively in difficult situations?

Entrepreneurial mind frame

Entrepreneurial gut game

Entrepreneurial heart flame

Entrepreneurial heart frame

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What ability allows an entrepreneur to sense without using the five senses, also known as intuition?

Entrepreneurial mind frame

Entrepreneurial gut game

Entrepreneurial heart flame

Entrepreneurial heart frame

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What essential aspect of opportunity-seeking refers to the driven passion of an individual?

Entrepreneurial mind frame

Entrepreneurial gut game

Entrepreneurial heart flame

Entrepreneurial heart frame

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which variable of the societal environment includes income level and employment rate?

Economic forces

Sociocultural forces

Political forces

Technological forces

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What factors of substitute products pose a great threat in the industry environment?

A, B, C, D

A and C

A and D

B and C

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Entrepreneurship Game

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

Who are the ones who pay cash in exchange for your goods and services?

What is essential to opportunity-seeking that allows the entrepreneur to see things positively in difficult situations?

What ability allows an entrepreneur to sense without using the five senses, also known as intuition?

What essential aspect of opportunity-seeking refers to the driven passion of an individual?

Which variable of the societal environment includes income level and employment rate?

What factors of substitute products pose a great threat in the industry environment?

What factors influence the buyer to pose less threat due to bargaining power?

Which factor does not characterize the intensity of rivalry among existing firms?

What outcome best reflects the value of identifying entrepreneurial opportunities in the early stages of business planning?

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Life Skills