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ETE3 Business Validation

Total questions: 15

Worksheet time: 5mins

Name
Class
Date
1.

Alexander Osterwalder's Business Canvas Model covers ______ key elements.

a)

7

b)

9

c)

11

d)

12

2.

The 4 Ps in a marketing mix are: Product, Price, Promotion and ________

a)

People

b)

Process

c)

Place

d)

Position

3.

Product validation can be done in a number of ways except _______

a)

e-surveys

b)

group interviews

c)

individual interviews

d)

google search

4.

A company can make money in different ways but not through

a)

online sales

b)

retail sales

c)

franchises

d)

grants

5.

To give a very short description of your startup with conviction and enthusiasm is called _____

a)

Survey Monkey

b)

Elevator pitch

c)

Shark Tank

d)

Survata

6.

This is a _______

a)

E survey template

b)

Simulated Company Model

c)

Business Plan

d)

Business Model Canvas

7.

A company selects 30 customers to test their response to a new product. They place their new product with competitors' products and invite the customers to select what they like. This is called ______

a)

simulated test marketing

b)

sales wave research

c)

controlled test marketing

d)

product identification test

8.

An example of a logistical expense is _____

a)

Advertisement expense

b)

Office staff salary

c)

Rent paid for warehouse

d)

Water & electricity expense

9.

Close ended questions include all of the following except ______

a)

rating scale (eg 1 to 5 stars given to a mpvie)

b)

Likert scale (eg 5 point scale to show whether you approve or disapprove a product)

c)

dichotomous questions (ef Yes/No or True/False)

d)

social media reviews

10.

Who among ther following is a key partner in the Business Model Canvas?

a)

Suppliers

b)

Bloggers

c)

Franchisees

d)

All of the above

11.

It is important to gather feedback from target customers to help to _____

a)

increase sales.

b)

to reduce marketing costs.

c)

make better business decisions.

d)

reduce competition from other business owners.

12.

In quantitative analysis (using mathematical and statistical means to do research), we start by ____

a)

framing an hypothesis.

b)

gathering data from customers.

c)

preparing a scatter daigram.

d)

testing the problem statement

13.

"What factors do you consider when selecting hotels for a tour?" This is an example of

a)

a close-ended question

b)

an open-ended question

c)

an opinion poll

d)

a rating scale

14.

A clothing star used Lazada and Shopee platforms to sell its goods. Which marketing mix heading will this come under?

a)

promotion

b)

product

c)

price

d)

place

15.

The Factory Outlet is a department store that sells fashionable clothes at bargain prices. They claim their products are the cheapest in the country. Under which heading will this be reflected in a Business Canvas Model?

a)

Customer relationship

b)

Revenue streams

c)

Key activities

d)

Value proposition