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Check Your Understanding; Inventing the Future

Total questions: 24

Worksheet time: 13mins

Name
Class
Date
1.

This is a small number of people who are brought in together to discuss elements of a specific issue or problem or test a product.

a)

Test Market

b)

Focus Group

c)

Survey

d)

Observation

2.
What is an example of primary research?
a)
Magazine
b)
Observation
c)
Newspaper
d)
Government statistics
3.
This is information that is useful and has already been collected for another purpose.
a)
Primary Data
b)
Secondary Data
4.
What is an example of secondary research?
a)
Focus Group
b)
Observation
c)
Newspaper
d)
Questionnaire
5.
Graham wants some quick, informal feedback on his business ideas from friends and family. His best option would be:
a)
Share a survey and invite comments on Facebook
b)
Hand a written questionnaire to local shoppers
c)
Send a mailing to 500 local residents
d)
Commission a local market survey agency
6.
Which market segmentation method is selected when classifications of age, gender, income, or family size is utilized.
a)
Behaviorial
b)
Psychographic
c)
Demographic
d)
Geographic
7.

The process of dividing a market of potential customers into groups based on different characteristics is called

a)

Market Segmentation

b)

Market Analysis

c)

Demographics

d)

Consumer identification

8.

The local sports center has decided to market a new exercise program for older adults aged 50 and up. What type of segmentation is being used?

a)

Demographic

b)

Behavioral

9.

What is the best definition for innovation?

a)

the creation of something new

b)

the improvement of something that already exists

c)

the creation of something old

d)

changing something that does not yet exist

10.

Was the first iPhone an invention or an innovation?

a)

innovation

b)

invention

11.

The iPhone is an example of:

a)

creativity

b)

invention

c)

innovation

d)

entreprneurship

12.

Innovation is the same as invention.

a)

TRUE

b)

FALSE

13.

Innovation happens overnight, it doesn't require daily work.

a)

TRUE

b)

FALSE

14.

Who is the founder of Microsoft?

a)

Oprah Winfrey

b)

Bill Gates

c)

Elle McPherson

d)

Steve Jobs

15.

Media mogul, talk show host, actress, producer, and philanthropist. Likely the only female African-American billionaire in America!

a)

Oprah Winfrey

b)

Kim Kardashian

c)

Ellen

d)

Antonia Kidman

16.

Creator of the famous Model T Ford.

a)

Henry Ford

b)

Harrison Ford

c)

Walter Chrysler

d)

Enzo Ferrari

17.

French designer and costume maker, instrumental in defining feminine style and dress during the 20th Century.

a)

Giorgio Armani

b)

Gianni Versace

c)

Linda Evangelista

d)

Coco Chanel

18.

The writer of the best selling books of all time 'Harry Potter?'

a)

JK Rowling

b)

Steven King

c)

George Orwel

d)

Margaret Atwood

19.

Who was the creator of Mickey Mouse?

a)

Stan Lee

b)

Betty Cohen

c)

Walt Disney

d)

Minnie Mouse

20.

Involves a combination of skills, facilities, and technologies used to produce, support, and deliver a product or service.

a)

Product Innovation

b)

Process Innovation

21.

Technological breakthrough that transforms industries and often transforms industries

a)

Disruptive Innovation

b)

Incremental Innovation

c)

Radical Innovation

22.

An individual who undertakes the risk associated with creating, organizing, and owning a business is?

a)

a trained salesperson

b)

an entrepreneur

c)

Mathematician

d)

a farmer

23.

What entrepreneur qualities do YOU need ?

a)

Determination

b)

Self-discipline

c)

Team-working skills

d)

All of the above

24.

True or False. Only adults can be entrepreneurs. Kids are too young.

a)

True

b)

False