WorksheetsEntrep
Total questions: 75
Worksheet time: 56mins
An organizational function and set of process for creating, communicating, and delivering value to customer for managing customers relationship in ways that benefit the organization and its stakeholders.
(a)
The art and science of choosing target markets and getting, keeping, growing customers through creating, delivering, and communicating super customer value.
(a)
A process of dividing a broad consumer
(a)
A process of selecting the target market from the entire market.
(a)
A strategic exercise, we use to establish the image of a brand/product in a consumer's mind. In short, the concept of brand awareness
(a)
The process that an organization undertakes to engage its target audience.
(a)
It is an educated guess
(a)
A good source of estimates to be able to project sales.
(a)
It contains information about the members of a given population collected from a government census.
(a)
Traditional Marketing Mix Elements
Product
Price
People
Physical evidence
Promotion
Year when traditional marketing mix elements were extended?
(a)
Boom and Bitner Extended
People
Place
Physical Evidence
Price
Process
In manufacturing industry, the production and consumption of the products are not simultaneous and it is tangible.
True
False
In service industry, the product is intangible, not always diverse, and perishable.
True
False
In manufacturing industry, the product cannot be measured.
True
False
Service is consumed and produced in the same place.
True
False
This step refers to the delivery of your product or service to a customer.
(a)
Your consumer should always receive something physical to validate their purchase.
(a)
Essential the act of marketing directly to consumers
(a)
Person-to-person conversation
Personal Selling
Digital Promotion
Public Relation
Sales Promotion
All forms of promotion found on the internet
Direct Marketing
Digital Promotion
Public Relation
Sales Promotion
Limited time offers which tend to leave the customers in a position where they need to take immediate action.
Direct Marketing
General Advertising
Public Relation
Sales Promotion
The company reaches out to its potential client by itself (with the help of email and other forms of media).
Direct Marketing
General Advertising
Personal Selling
Sales Promotion
"Name, term, design, symbol, or combination of these elements that identities a product or service from its competitors."
(a)
Spoken part of a brand, which is used to distinguish a product from its competitors
(a)
Brand role in Marketing Strategy
Builds product recognition
Creation of Production consistency
Establishes an image
Adds value to the market
Differentiates products from competitors
Corporate brand identifies and promotes a company or division of a particular corporation
(a)
Unique symbol, coloring, lettering, or other design.
(a)
specific type of brand mark, one with human form or characteristics
(a)
Word, name, symbols, device or a combination of these elements.
(a)
Uses an existing brand name to promote a new or improved product in a company's product line.
(a)
Companies allow other organizations to use their brand, brand mark, or trade characters.
(a)
Combines one or more brands in the manufacture of a product or in the delivery of a service.
(a)
It offers a combination of manufactures private distributor, and generic brands to consumer.
(a)
Characteristics of a good brand name is short and fancy
True
False
Characteristics of a good brand name can be pronounce in only one way.
True
False
A good brand name is always late
True
False
A good brand name is adaptable to any medium
True
False
A good brand name has no undesirable imagery
True
False
A good brand name is easy to spell, read and pronounce.
True
False
It is a blueprint of the business that the entrepreneur would like to start
(a)
It aims to establish if a business idea will bring in a fair return to one's investment will be beneficial to the society, and bring no harm to the environment when it is operated.
(a)
There are many business ideas that may look attractive to the entrepreneur at first, but not necessarily "doable".
True
False
Reasons why we need to make a business plan.
REDUCE
RECYLCE
AVOID COLSTY MISTAKES
ASSESS ACTUAL PERFORMANCE AGAINST SET GOALS
APPLY FOR FINANCING FROM LENDING INSTITUTION
It is an activity that converts material into useful forms
(a)
Materials/substances used in the primary prduction or manufacturing of goods
(a)
These are goods that have undergone some processing but require further processing before they are ready for use.
(a)
Products that have completed the manufacturing process but have not yet been sold or distributed to the end user.
(a)
4Ms of production
Machine
Method
Manpower
Materials
Management
It is defined as planning, implementation and control of industrial production process to ensure smooth and efficient operation.
(a)
It is a process of planning, organizing, directing, and controlling the activities of the production function.
(a)
It is concerned with services.
Production Management
Operation Management
Outputs is intangible.
Production Management
Operation Management
Jobs use less labor and more equipment
Production Management
Operation Management
There is no customer participation
Production Management
Operation Management
The person who defined production as "a process by which goods and services of right equality and quantity at the right time and right manufacturing cost"
(a)
"The step-by-step conversion of one form of material into another form through chemical of mechanical process to create, or enhance the utility of the product to the user"
(a)
The quality of the product is established based upon the customer needs.
(a)
the manufacturing organization should produce the products in right number
(a)
Timeliness of delivery is one of the important parameter to judge the effectiveness of production department.
True
False
Number of goods made
(a)
Number of goods produced divided by employees
(a)
Simply means "Continuous improvement"
(a)
It is also the process that when done correctly, humanizes the workplace, eliminate business waste.
(a)
It is a daily process, the purpose of which beyond simple productivity improvement
(a)
Production efficiency =(output rateinput rate)⋅100
True
False
General ways of increase outputs are:
Process improvement
Regulate work flow
Use more modern equipments
Improve quality
Minimize waste
General ways of decrease inputs are:
Process improvement
Reduce cost of labour
Train and motivate employees
Improve quality
Minimize waste
These are established before the product is actually manufactured.
(a)
Objectives of the production management
Right time
Right Motivation
Right Quality
Right Quantity
:D
Productivity =(Inputs usedUnits produced)
True
False
Right quality is not necessarily best quality.
True
False
Robert and Chad Counts; 4Ms of production
True
False
Using the (a) to establish what is needed and what inventory stock levels
Having a business plan unable the entrepreneur to set targets in terms of sales volume and revenue, as well as expenses, among others.
True
False
