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BQ 2024 ENTREPRENEURSHIP 4-6

Total questions: 217

Worksheet time: 2hrs 9mins

Name
Class
Date
1.

Cynthia Jones recently surveyed 200 of her classmates to get a sense of the demand for a new software product she is working on. Collecting data via a survey you administer yourself is referred to as ________ research.

a)

direct

b)

derivative

c)

primary

d)

secondary

2.

A feasibility analysis is an assessment of a potential product or service idea rather than a potential business.

a)

True

b)

False

3.

A(n) ________ is a group of firms producing a similar product or service. A firm's ________ is the limited portion of the industry that it goes after or to which it wants to appeal.

a)

target market; industry

b)

industry; trade group

c)

competitive group; target market

d)

industry; target market

4.

The most important issues to consider in financial feasibility analysis are ________.

a)

resource sufficiency, industry attractiveness, and total startup cash needed

b)

total startup cash needed, financial performance of similar businesses, and the overall financial attractiveness of the proposed venture

c)

target market attractiveness, resource sufficiency, and product/service demand

d)

total startup cash needed, management prowess, and product/service demand

5.

Describe the purpose of industry/target market feasibility analysis, and identify the two primary issues that should be considered. What is the difference between a firm's industry and its target market?

4 lines
6.

1) ________ is the process of determining whether a business idea is viable.

a)

A) Feasibility analysis

b)

B) Opportunity recognition

c)

C) Viability analysis

d)

D) Achievability analysis

e)

E) Scenario analysis

7.

2) ________ research is research that is collected by the person or persons completing the analysis. ________ research probes data that is already collected.

a)

A) Primary, Derivative

b)

B) Secondary, Primary

c)

C) Primary, Secondary

d)

D) Indirect, Direct

e)

E) Direct, Indirect

8.

3) Talking to industry experts, obtaining feedback from prospective customers, and administering surveys are examples of ________ research.

a)

A) primary

b)

B) secondary

c)

C) derivative

d)

D) principal

e)

E) fundamental

9.

4) Trade journals, industry-related publications, government statistics, and competitors' Web sites are examples of ________ research.

a)

A) secondary

b)

B) action

c)

C) principal

d)

D) legacy

e)

E) vertical

10.

5) ________ feasibility is an assessment of the overall appeal of the product or service being proposed.

a)

A) Consumer

b)

B) Industry/market segment

c)

C) Industry/market

d)

D) Product/service

e)

E) Purchaser/end-user

11.

6) The two components of product/service feasibility analysis are product/service ________ and product/service ________.

a)

A) value; affordability

b)

B) demand; timeliness

c)

C) timeliness; value

d)

D) durability; value

e)

E) desirability; demand

12.

7) A(n) ________ involves showing a preliminary description of a product or service idea to prospective customers to gauge customer interest, desirability, and purchase intent.

a)

A) concept test

b)

B) product/service statement

c)

C) impression test

d)

D) idea prospectus

e)

E) idea test

13.

8) A(n) ________ is a group of firms producing a similar product or service. A firm's ________ is the limited portion of the industry that it goes after or to which it wants to appeal.

a)

A) target market; industry

b)

B) trade group; industry

c)

C) industry; trade group

d)

D) competitive group; target market

e)

E) industry; target market

14.

9) ________ feasibility analysis is an assessment of the overall appeal of the industry and market for the product or service being proposed.

a)

A) Institutional

b)

B) Financial

c)

C) Organizational

d)

D) Product/service

e)

E) Industry/target market

15.

10) ________ feasibility analysis is a quick financial assessment of the viability of a business idea.

a)

A) Organizational

b)

B) Institutional

c)

C) Product/service

d)

D) Financial

e)

E) Industry/market

16.

An organized inquiry into the possible success of an idea or venture

a)

operating expenses

b)

Feasibility study

c)

start-up costs

d)

bias

17.

A systematic study of the market

a)

Organizational chart

b)

Articulate

c)

Start-up Costs

d)

Market analysis

18.

All of the expenses involved in setting up a new business or introducing a new product to the market

a)

Operating expenses

b)

Bias

c)

Start-up costs

d)

Logistics

19.

All of the expenses involved in running a business on a day-to-day basis

a)

Operating expenses

b)

Bias

c)

Profitability analysis

d)

Organizationl chart

20.

A graphical representation of the flow of authority within an organization

a)

Operating expenses

b)

Organizational Chart

c)

Acquisition

d)

Logistics

21.

A financial breakdown that determines when a business venture will break even or start earning money

a)

Profitability analysis

b)

Start-U Costs

c)

Logistics

d)

Market Analysis

22.

The coordination of how a venture will come to life (workspace, materials, technology, etc.)

a)

Logistics

b)

Market analysis

c)

Bias

d)

Start-up costs

23.

Clearly expressed

a)

Articulate

b)

Market analysis

c)

Market Analysis

d)

Operating expenses

24.

The purchase of another business

a)

Bias

b)

Acquisition

c)

Logistics

d)

Feasibiliy Study

25.

Prejudice, partiality

a)

Bias

b)

Start-up costs

c)

Articulate

d)

Logistics

26.

What is technical feasibility?

a)

Analysis of the project's impact on the environment

b)

Evaluation of the project's financial viability

c)

Assessment of the project's marketing potential

d)

Assessment of whether a project can be successfully completed using current technology and resources

27.

Explain the importance of technical feasibility in a feasibility analysis.

a)

It is only relevant for small projects

b)

It ensures that the project is achievable within the constraints of technology and resources.

c)

It only considers financial aspects

d)

It has no importance in the feasibility analysis

28.

What is the primary purpose of feasibility analysis in a business project?

a)

To identify potential risks

b)

To determine project scope

c)

To estimate project costs

d)

All of the above

29.

Which of the following is a key consideration in operational feasibility?

a)

Return on investment

b)

Project schedule

c)

User acceptance

d)

Technical requirements

30.

Which factor is NOT typically considered in a feasibility analysis?

a)

Project scope

b)

Technical specifications

c)

Weather conditions

d)

Legal compliance

31.

Which of the following is not the purpose of Feasibility Study?

a)

Provide quality information for decision making

b)

Establish market trends

c)

Give focus to the project and outline alternatives

d)

Specify business alternatives

32.

Which of the following is included in the composition of feasibility study?

a)

Financial Feasibility Study

b)

Demographic Feasibility Study

c)

Physical Feasibility Study

d)

Resources Feasibility Study

33.

Which of the following is not true about Target Market?

a)

Can be individuals, households, business organizations local as well as international and government organizations

b)

The group of customers with needs and wants that can be satisfied by the business through the supply of product/service.

c)

Involve determining who are the customers the business wishes to serve

d)

Participate as representative in Feasibility Study

34.

Which of the following is among the aspects of technical feasibility study?

a)

Demand

b)

Location

c)

Security

d)

Instruction

35.

Which of the following is not the expectation of a A feasible or viable event idea?

a)

Withstand the risks it will encounter

b)

Generate adequate cash flow and profits

c)

Remain viable in short period

d)

Meet the goals of the founders

36.

1) ________ is the process of determining whether an event idea is viable.

a)

A) Feasibility analysis

b)

B) Opportunity recognition

c)

C) Viability analysis

d)

D) Achievability analysis

e)

E) Scenario analysis

37.

10) ________ feasibility analysis is a quick financial assessment of the viability of an event idea.

a)

A) Organizational

b)

B) Institutional

c)

C) Product/service

d)

D) Financial

e)

E) Industry/market

38.
The proper time to conduct a feasibility analysis.
a)
Early in thinking
b)
Late in thinking
c)
Who cares!
d)
Hey, it might snow!
39.

When you have a feasible concept, the next step is to develop a/an__________________.

a)

business plan

b)

financial analysis

c)

feasibility analysis

d)

industry

40.
Which of the following can be the cause of project failure
a)
Poor project specification
b)
Appropriate staff employed
c)
Project End Report
d)
Risk Owner
41.

____is the process of determining whether an event idea is viable. It is the primary evaluation of the business.

a)

Feasibility Analysis

b)

Business Plan

c)

Howard Plan

d)

None of the Above

42.

The financial plan presents ______ for the future of the company.

a)

forecasts

b)

finances

c)

trends

d)

studies

43.

Questions related to industry, customers, product & service requirements, founding team, competition, start up resource needs and the value chain fall under the:

a)

Feasibility Analysis

b)

Business Model

c)

Business Concept

d)

Target Market

44.

All the things needed for an event to work are ___.

a)

resources

b)

role

c)

organization

d)

goal

45.
"measures whether the organization has or can obtain the hardware,software, and people needed to deliver and then support the proposed information system"
The above statement describe one of the 4 feasibility assessment done by a System Analyst.  what is the feasibility assessment about?
a)
Schedule feasibility
b)
Technical feasibility
c)
Economic feasibility
d)
Operational feasibility
46.

When quantity demanded of a commodity changes due to a change in its price, keeping other factors constant is known as

a)

Movement along the Demand Curve

b)

Movement along the Supply curve

c)

Shift in demand

d)

shift in supply

47.

When quantity demanded of a commodity changes due to a change in other factors keeping price constant is known as

a)

Movement along the Demand Curve

b)

Movement along the Supply curve

c)

Shift in demand

d)

shift in supply

48.

Expansion or a Contraction in demand remains along the ............. demand curve

a)

different

b)

same

c)

two

d)

none of the above

49.

Downward movement along the same demand curve is known as

a)

Contraction in Demand

b)

Increase in demand

c)

Expansion in Demand

d)

Decrease in demand

50.

Upward movement along the same demand curve is known as

a)

Expansion in Demand

b)

Contraction in Demand

c)

Increase in demand

d)

Decrease in demand

51.

Demand curve remain the same , Only shift in equilibrium point due to change in prices is known as

a)

Shift in demand

b)

Movement along the supply Curve

c)

Movement along the Demand Curve

d)

shift in supply

52.

When the position of the demand curve will shift to the left or right following a change in determinant of demand is called as

a)

Shift in demand

b)

Movement along the supply Curve

c)

Movement along the Demand Curve

d)

shift in supply

53.

Factors responsible for shift in Demand

a)

Income of Consumer

b)

Change in prices of substitute goods

c)

Change in prices of Complementary goods

d)

Changes in test and preferences

e)

All the above

54.

A rightward shift in demand curve parallel to the original demand curve is known as

a)

Increase in demand

b)

Movement along the supply Curve

c)

Movement along the Demand Curve

d)

shift in supply

55.

A leftward shift in demand curve parallel to the original demand curve is known as

a)

Increase in demand

b)

Movement along the supply Curve

c)

Movement along the Demand Curve

d)

Decrease in demand

56.

Parallel shifting of original demand curve is called as

a)

Increase in supply

b)

Shift in demand

c)

Movement along the Demand Curve

d)

Decrease in supply

57.

The position of a supply curve will change following a change in one or more of the determinants of supply keeping price constant is known as

a)

Increase in demand

b)

Shift in supply

c)

Movement along the Demand Curve

d)

Decrease in demand

58.

Following Factors are responsible for shift in Supply

a)

i.Changes in prices of raw material

b)

ii.Changes in tax policies

c)

iii.Changes in cost

d)

only i and ii

e)

All the above

59.

The .................... price is the price at which the quantity demanded is equal demanded equal to the quantity supplied.

a)

equilibrium

b)

disequilibrium

c)

reservation

d)

All the above

60.
What does business model mean?
a)
How a business sells its products or services
b)
Creating a business idea
c)
How many people own the business
d)
The ownership of the business
61.
What does direct trade mean?
a)
Trading in the market
b)
Trading with competitors
c)
Trading directly with customers
d)
Trading with suppliers
62.
What does franchise mean?
a)
A type of perfume
b)
Trading under another businesses name
c)
Businesses that are made up of shares
d)
Businesses that are owned by more than 5 people
63.
A 'Buy' business model is ...
a)
Buying shares in a business
b)
Buying raw materials to make products
c)
Buying a business
d)
Buy products to sell them onto the customer
64.
An 'Internet' business model is ...
a)
Only selling on the internet
b)
Only buying on the internet
c)
Not selling on the internet
d)
Not buying on the internet
65.
Which business below is an example of a franchise?
a)
Tesco
b)
Argos
c)
MacDonalds
d)
Gowerton School
66.
Which business uses a 'Make' business model?
a)
A butcher
b)
A clothes shop
c)
A cake shop
d)
A mobile phone shop
67.
If a business is delivering a service (like a hair cut) then business model does not apply.
a)
True
b)
False
c)
Sometimes
d)
Hardly ever
68.

Which of these are potential revenue sources for Amazon? (Select all that apply)

a)

Advertising on the platform

b)

Commissions from sellers

c)

Charging customers for delivery

d)

Charging customers for the app

69.

What is Uber's business model?

a)

Free products for users

b)

Money from advertising

c)

Commission from the fare paid to drivers

70.

Google earns revenue by selling advertising space when we search on Google.


Which of these is the most important thing for them to maximise?

a)

Number of Google searches

b)

Nice design

c)

Fast search results

d)

Ad-free search results

71.

A business model is how the company (a)   money. (One word)

72.

What is the meaning of VALUE PROPOSITION in BMC?

a)

value that meet the customer satisfaction

b)

servis after sales

c)

the way we interact with the customer

d)

generate revenue from each customer

73.

Value proposition is provided through various elements such as newness, performance, customization, reliability in ‘getting the job done’, design, brand, price, cost reduction, risk reduction, accessibility, and convenience.

a)

true

b)

false

74.

What will make your Business Plan stand out?

a)

Having a lot of money

b)

Being Unique

c)

Having a good Idea.

d)

None of the Above.

75.

The benefits of a subscription revenue model do not include:

a)

Lock-in effect: recurring basis creates brand loyalty

b)

Reduction of seasonal fluctuation: design of subscription can bind consumer to a period of time

c)

Low switching costs: affordable subscription rates can attract customers to try and compare offers

d)

Cash flow: more reliable and predictable revenue and costs

76.

Which is true of a transactional revenue model?

a)

Transactions may be one-time sales of good or services

b)

Customers have a low barrier for trial

c)

This model needs continuous new sales to generate revenue

d)

All of the above

77.

An e-commerce business model focuses on selling products by creating a web-store on the internet refers to

a)

Brick-and-mortar

b)

e-Commerce

c)

Low Touch

d)

High Touch

78.

Which of the following options is not part of the 8 key elements of a business model?

a)

Marketing team

b)

Competitive environment

c)

Market opportunity

d)

Competitive advantage

79.

Amazon has a revenue model based on

(a)  

80.

A business model is how a company sells its products to customers and it's plan for making a __________.

a)

expense

b)

invention

c)

profit

d)

sales forecast

81.

A manufacturer makes finished products from raw materials and is a type of:

a)

business ownership

b)

business model

c)

business plan

d)

franchise

82.

Selling your product directly to your end customers without third-party retailers, wholesalers, or other middlemen is called:

a)

Wholesaler

b)

Bricks-and-Clicks

c)

Nickel-and-Dime

d)

Direct to Consumer (D2C)

83.

A distributor buys products from _______________ and resells them either to wholesalers, retailers or the public.

a)

retailers

b)

manufacturers

c)

freemium

d)

consumers

84.

A _______________ buys products from a manufacturer, distributor, and/or wholesaler and sells directly to the consuming public.

a)

retailer

b)

middleman

c)

blockchain

d)

auction house

85.

There are two types of retailers, Bricks-and-Mortar retailers and _____________ retailers.

a)

Distributor

b)

Wholesaler

c)

Subscription

d)

Online

86.

E-Commerce is an electronic medium to facilitate the buying and selling of products and services by businesses and consumers, and can support this approach to business:

a)

Business to Business (B2B)

b)

Business to Consumer (B2C)

c)

Consumer to Consumer (C2C)

d)

all the above

87.

McDonalds and Subway are examples of a ____________ business model.

a)

E-Commerce

b)

Multilevel Marketing

c)

Franchise

d)

Direct Sales

88.

A local bank or hardware store are examples of a _____________ business model.

a)

Bricks-and-Mortar

b)

Bricks-and-Clicks

c)

Wholesaler

d)

Aggregator

89.

Dollar Tree and low-cost air carriers are examples of the following business model:

a)

Online Marketplace

b)

Nickel-and-Dime

c)

Agency

d)

Affiliate Marketing

90.

A Freemium business model:

a)

offers some services for free and charges for advertising space

b)

is a non-profit and offers products for free

c)

offers some basic services for free, and then charges money for certain additional features

d)

offers products and services for free

91.

Uber, Airbnb, and Hotels.com are examples of:

a)

a Subscription

b)

an Aggregator

c)

Freemium

d)

SaaS

92.

An Online Marketplace allows sellers to compete for customers on one platform, and they collect a fee or commission per _____________.

a)

visit

b)

transaction

c)

lead

d)

click

93.

A business model that charges a regularly scheduled fee, usually monthly or annually, for their products or services, is called:

a)

Freemium

b)

Aggregator

c)

Subscription

d)

SaaS

94.

The Advertisement model is used by companies who:

a)

offer their services for free and charge for advertising space

b)

are non-profits and offer products for free

c)

offer some basic services for free, and then charge money for certain additional features

d)

offer products and services for free

95.

Twitter is an example of a company that sells advertising for revenue, but also sells _______________ as another form of revenue:

a)

storage

b)

web sites

c)

computers

d)

data

96.

Companies that sell services like advertising and digital marketing to other companies are using the ______________ business model.

a)

Wholesaler

b)

Nickel-and-Dime

c)

Agency

d)

Affiliate Marketing

97.

Companies who use the Direct Sales business model sell their products directly to the consumer in a ______________ environment.

a)

retail

b)

non-retail

c)

auction

d)

affiliate marketing

98.

The Multilevel Marketing (MLM) business model makes money in two ways; the two ways are:

a)

commissions from their own sales and commissions from sales made by their recruited distributors

b)

retail sales and commissions from sales made by their recruited distributors

c)

commissions from their own sales and freemium

d)

non-retail sales and manufacturing profits

99.

The Affiliate Marketing model makes money from:

a)

Pay-Per-Click (PPC)

b)

Pay-Per-Lead (PPL)

c)

Pay-Per-Sale (PPS)

d)

all the above

100.

SaaS stands for Software as a ____________:

a)

Syndicate

b)

Solution

c)

Sound

d)

Service

101.

eBay is a form of:

a)

a manufacturer

b)

a franchise

c)

an auction

d)

an agency

102.

Kickstarter and GoFundMe are forms of:

a)

Crowdsourcing

b)

Crowdfunding

c)

Freemium

d)

an Aggregator

103.

A furniture factory makes its products from wood and other raw materials. It is called a:

a)

Retailer

b)

Manufacturer

c)

A Distributor

d)

Aggregator

104.

What is the business model used for Tops supermarket?

a)

Manufacturer

b)

Marketplace

c)

Retailer

d)

Franchise

105.

is using.....................business model.

a)

Freemium

b)

Subscription

c)

Affiliate

d)

Fee for Service

106.

is a ......................business model.

a)

Manufacturer

b)

Bundling

c)

Retailer

d)

Brokerage

107.

Youtube is a.......................business model.

a)

Subscription

b)

Bundling

c)

Freemium

d)

Affiliate

108.

McDonald’s Happy Meal is a type of.............business model.

a)

Affiliate

b)

Bundling

c)

Retailer

d)

Franchise

109.

Ebay is a...........................business model.

a)

Marketplace

b)

Freemium

c)

Bundling

d)

Brokerage

110.

is using..............business model.

a)

Razor Blade

b)

Reverse Razor Blade

c)

Freemium

d)

Retailer

111.

Which of these products use Razor Blade business model?

a)

Epson Printer

b)

Iphone

c)

Kamu Tea

d)

Netflix

112.

Which of these services use Brokerage Business Model?

a)

Condominium

b)

Law Firm

c)

Facebook

d)

Apple

113.

Pay-As-You-Go is normally used with.......?..........

a)

Supermarket

b)

Food company

c)

Housing development

d)

Utility company

114.

A business model is how a company sells its products to customers and it's plan for making a __________.

a)

expense

b)

invention

c)

profit

d)

sales forecast

115.

A manufacturer makes finished products from raw materials and is a type of:

a)

business ownership

b)

business model

c)

business plan

d)

franchise

116.

Selling your product directly to your end customers without third-party retailers, wholesalers, or other middlemen is called:

a)

Wholesaler

b)

Bricks-and-Clicks

c)

Nickel-and-Dime

d)

Direct to Consumer (D2C)

117.

A distributor buys products from _______________ and resells them either to wholesalers, retailers or the public.

a)

retailers

b)

manufacturers

c)

freemium

d)

consumers

118.

A _______________ buys products from a manufacturer, distributor, and/or wholesaler and sells directly to the consuming public.

a)

retailer

b)

middleman

c)

blockchain

d)

auction house

119.

There are two types of retailers, Bricks-and-Mortar retailers and _____________ retailers.

a)

Distributor

b)

Wholesaler

c)

Subscription

d)

Online

120.

E-Commerce is an electronic medium to facilitate the buying and selling of products and services by businesses and consumers, and can support this approach to business:

a)

Business to Business (B2B)

b)

Business to Consumer (B2C)

c)

Consumer to Consumer (C2C)

d)

all the above

121.

McDonalds and Subway are examples of a ____________ business model.

a)

E-Commerce

b)

Multilevel Marketing

c)

Franchise

d)

Direct Sales

122.

A local bank or hardware store are examples of a _____________ business model.

a)

Bricks-and-Mortar

b)

Bricks-and-Clicks

c)

Wholesaler

d)

Aggregator

123.

Dollar Tree and low-cost air carriers are examples of the following business model:

a)

Online Marketplace

b)

Nickel-and-Dime

c)

Agency

d)

Affiliate Marketing

124.

A Freemium business model:

a)

offers some services for free and charges for advertising space

b)

is a non-profit and offers products for free

c)

offers some basic services for free, and then charges money for certain additional features

d)

offers products and services for free

125.

Uber, Airbnb, and Hotels.com are examples of:

a)

a Subscription

b)

an Aggregator

c)

Freemium

d)

SaaS

126.

An Online Marketplace allows sellers to compete for customers on one platform, and they collect a fee or commission per _____________.

a)

visit

b)

transaction

c)

lead

d)

click

127.

A business model that charges a regularly scheduled fee, usually monthly or annually, for their products or services, is called:

a)

Freemium

b)

Aggregator

c)

Subscription

d)

SaaS

128.

The Advertisement model is used by companies who:

a)

offer their services for free and charge for advertising space

b)

are non-profits and offer products for free

c)

offer some basic services for free, and then charge money for certain additional features

d)

offer products and services for free

129.

Twitter is an example of a company that sells advertising for revenue, but also sells _______________ as another form of revenue:

a)

storage

b)

web sites

c)

computers

d)

data

130.

Companies that sell services like advertising and digital marketing to other companies are using the ______________ business model.

a)

Wholesaler

b)

Nickel-and-Dime

c)

Agency

d)

Affiliate Marketing

131.

Companies who use the Direct Sales business model sell their products directly to the consumer in a ______________ environment.

a)

retail

b)

non-retail

c)

auction

d)

affiliate marketing

132.

The Multilevel Marketing (MLM) business model makes money in two ways; the two ways are:

a)

commissions from their own sales and commissions from sales made by their recruited distributors

b)

retail sales and commissions from sales made by their recruited distributors

c)

commissions from their own sales and freemium

d)

non-retail sales and manufacturing profits

133.

The Affiliate Marketing model makes money from:

a)

Pay-Per-Click (PPC)

b)

Pay-Per-Lead (PPL)

c)

Pay-Per-Sale (PPS)

d)

all the above

134.

SaaS stands for Software as a ____________:

a)

Syndicate

b)

Solution

c)

Sound

d)

Service

135.

eBay is a form of:

a)

a manufacturer

b)

a franchise

c)

an auction

d)

an agency

136.

Kickstarter and GoFundMe are forms of:

a)

Crowdsourcing

b)

Crowdfunding

c)

Freemium

d)

an Aggregator

137.

A furniture factory makes its products from wood and other raw materials. It is called a:

a)

Retailer

b)

Manufacturer

c)

A Distributor

d)

Aggregator

138.

What part of the business model where customers are divided into groups based on common characteristics so companies can market to each group effectively and appropriately?

a)

customer relationship

b)

customer segment

c)

channels

d)

revenue

139.

The online marketplace website goes in what section of the Business Model Canvas?

a)

customer relationship

b)

customer segment

c)

channels

d)

revenue

140.

What are the most important actions of company must perform to operate successfully? 

a)

key activities

b)

key partners

c)

key resources

d)

key chain

141.

What is another word for costs?

a)

expenses

b)

revenue

c)

salary

d)

savings

142.

What do you call a one page plan outlining your new business idea?

a)

business model canvas

b)

Business Modal Canva

c)

Business Management Collection

d)

Business Management Canvas

143.

What does "Unique Value Proposition" mean?

a)

Product description

b)

Proposal given to the customer

c)

The benefit or the added value for a product

d)

Product market place

144.

The money gained from the sales after expenses are paid is:

a)

profit

b)

expenses

c)

cost

d)

capital

145.

The online marketplace website goes in what section of the Business Model Canvas?

a)

customer relationship

b)

customer segment

c)

channels

d)

revenue

146.

The network of suppliers and partners who complement each other in helping the company create its value proposition are called:

a)

customer segments

b)

key resources

c)

key partners

d)

channel

147.

Where in the BMC would you list your fixed and variable costs?

a)

Cost Structure

b)

revenue stream

c)

key partners

d)

key activities

148.

What is BMC?

a)

Business Modal Canva

b)

Business Management Collection

c)

Business Model Canvas

d)

Business Management Canvas

149.

What is the meaning of VALUE PROPOSITION in BMC?

a)

value that meet the customer satisfaction

b)

servis after sales

c)

the way we interact with the customer

d)

generate revenue from each customer

150.

What does BMC do?

a)

BMC is a tool for beginners

b)

BMC is used to build a business map

c)

BMC helps us to build a strategic management and lean startup template for developing new or documenting existing business models

d)

BMC is needed before start a business

151.

Customer segments refer to the target people and/or organizations you are offering value proposition

a)

true

b)

false

152.

Value proposition is provided through various elements such as newness, performance, customization, reliability in ‘getting the job done’, design, brand, price, cost reduction, risk reduction, accessibility, and convenience.

a)

true

b)

false

153.

Facebook marketplace is one of the example of chanelling a product online. Effective channels will distribute a company’s value proposition in ways that are fast, efficient and cost-effective. TRUE or FALSE

a)

true

b)

false

154.

KEY ACTIVITIES are activities that a company must do in order to make its business model work

a)

true

b)

false

155.

COST STRUCTURE represent the cash a company generates from each customer/product segment.

a)

true

b)

false

156.

What are the "channels" in a business model canvas?

a)

Who your customers are

b)

Where you sell your products/services

c)

How you want to sell your product

d)

What is the best offer given

157.

What is another word for costs?

a)

Revenue

b)

Budget

c)

Expences

d)

Modal

158.

What does "Unique Value Proposition" mean?

a)

Product description

b)

The benefit or the added value for a product

c)

Proposal given to the customer

d)

Product market place

159.

Define the word "revenue"

a)

profit

b)

money coming in

c)

cost

d)

budget

160.

The money spent on the materials to make your products are known as:

a)

profit

b)

expences

c)

cash

d)

budget

161.

The money gained from the sales after expenses are paid is:

a)

profit

b)

cost

c)

expenses

d)

revenue

162.

The online marketplace website goes in what section of the Business Model Canvas?

a)

customer relationship

b)

channels

c)

customer segment

d)

revenue

163.

"The product will be sold for $10" goes in what section of the BMC?

a)

channel

b)

customer segment

c)

revenue streams

d)

unique value proposition

164.

Teenagers ages 16-18 and teachers is an example of what section of the BMC?

a)

channels

b)

customer solution

c)

customer segment

d)

customer problems

165.

This product is compact and an all in one that is easy to use; this is an example of what section of the BMC?

a)

unique value proposition

b)

customer segment

c)

customer problems

d)

customer relationship

166.

These are all types of revenue streams, EXCEPT:

a)

asset sales

b)

renting

c)

value

d)

usage fee

167.

The network of suppliers and partners who complement each other in helping the company create its value proposition are called:

a)

customer segments

b)

key partners

c)

key resources

d)

channel

168.

What is primary research also known as?

a)

Desk Research

b)

Field Research

c)

Independent Research

d)

Group Research

169.

What type of data involved numbers and figures?

a)

Quantitative

b)

Qualitative

170.

Which type of data involves people's feelings and opinions?

a)

Quantitative

b)

Qualitative

171.

Which of the following is NOT an example of primary research?

a)

Focus Groups

b)

Questinnaires

c)

Observations

d)

Newspapers

172.

True or False: Primary research can be very expensive and time consuming.

a)

True

b)

False

173.

True or False: market research does not help a business find market opportunities.

a)

True

b)

False

174.

True or False: primary research is very generic and not specific.

a)

True

b)

False

175.

Which two of the statements are advantages of market research?

a)

Helps a business understand customers and competitors

b)

It can be very time consuming

c)

It could be difficult to analyse

d)

Helps a business create targeted marketing

176.

Which three of the following are popular examples of segmentation?

a)

Age

b)

Sleeping pattern

c)

Income

d)

Gender

e)

Shoe size

177.

Which two of the following statements are disadvantages of primary research?

a)

Many people don't like completing surveys

b)

You can find specific information

c)

Some people just say what they want you to hear

d)

The business has control over the research and results

178.

Why do businesses use market research?

a)

To identify customer needs

b)

To sell goods and services

c)

To advertise

179.

What is the first step for a new business?

a)

To attract repeat purchases

b)

To attract trial purchases

c)

To attract advertising

180.

What does desk research involve?

a)

Gathering new data

b)

Gathering existing data

c)

Conducting surveys

181.

What is information collected about opinions and views called?

a)

Quantitative data

b)

Qualitative data

c)

Segmentation

182.

How does accurate market research help a business?

a)

By avoiding risk

b)

By reducing risk

c)

By eliminating risk

183.

What does a market segment identify?

a)

All products in the market

b)

Competitors

c)

Groups of people with similar buying habits

184.

What can a market map be used to identify?

a)

Gaps in the market

b)

Competitors

c)

Groups of people with similar buying habits

185.

What is the name of an individual who is asked questions in a survey?

a)

A supplier

b)

A sample

c)

A respondent

186.

What are the total number of people selected to answer market research questions called?

a)

A supplier

b)

A sample

c)

A respondent

187.

Which of the following is an example of primary research?

a)

Internet research

b)

A focus group

c)

Company reports

188.

___________ is used when getting the information from the respondents involves too much time, travelling and money

a)

interviews

b)

convenience sampling

c)

cluster sampling

d)

observations

189.

____________ uses respondents that are easy to reach in a study, e.g. students using classmates for a survey

a)

focus groups

b)

random sampling

c)

snowballing

d)

convenience sampling

190.

_____________ involve forming small groups to get deeper insights into attitudes and behaviors of respondents

a)

focus groups

b)

population groups

c)

socio-economic groups

d)

random groups

191.

____________ are a type of primary research that involves open questions between the interviewer & respondent

a)

surveys

b)

observations

c)

interviews

d)

quotas

192.

____________ refers to marketing activities to discover opinions, preferences and beliefs of customers to anticipate needs and wants

a)

Market analysis

b)

Market research

c)

Market observations

d)

Market sampling

193.

____________ are a method of primary research that involves watching customer behavior in different situations

a)

Sampling

b)

Surveys

c)

Observations

d)

Focus groups

194.

_______________ is research that gathers new information first-hand for a specific purpose

a)

Random sampling

b)

Interviews

c)

Primary research

d)

Secondary research

195.

___________ are caused by human mistakes in recording, processing or analysing data, or because of faulty information given by respondents

a)

Biases

b)

Observations

c)

Non-sampling errors

d)

Sampling errors

196.

______________ involves gathering non-numerical answers and opinions from respondents

a)

Quantitative market research

b)

Qualitative market research

c)

Snowballing research

d)

Market analysis

197.

_______________ is the most common sampling method involving a certain number of people from different market segments

a)

Random sampling

b)

Cluster sampling

c)

Quota sampling

d)

Convenience samplig

198.
What is an example of primary research?
a)
Magazine
b)
Observation
c)
Newspaper
d)
Government statistics
199.

Downloading and viewing instructional videos on how to use a product

a)

Primary Research

b)

Secondary Research

200.
Which is a typical type of survey?
a)
Face to face
b)
All of them
c)
Postal
d)
Telephone or email
201.
Why are focus groups used?
a)
To bring together a group of people to discuss a particular product or issue
b)
All of them
c)
It enables open ended questions
d)
It can generate 'rich' information rather than a standard response 
202.
This is information that is useful and has already been collected for another purpose.
a)
Primary Data
b)
Secondary Data
203.
This is information that is collected for the first time to solve the problem being studied or for use in achieving the goal of the project.
a)
Primary Data
b)
Secondary Data
204.
This is a small number of people who are brought together to discuss elements of a specific issue or problem.
a)
Focus Group
b)
Observation
c)
Survey
d)
Test Market
205.
Information gathered on opinions, thoughts and feelings is....
a)
Qualitative
b)
Quantitative
206.
What is an example of secondary research?
a)
Focus Group
b)
Observation
c)
Newspaper
d)
Questionnaire
207.
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
208.
What is an example of secondary research?
a)
Focus Group
b)
Observation
c)
Newspaper
d)
Questionnaire
209.
Which is the odd one out?
a)
Newspaper
b)
Magazines
c)
Books
d)
Questionnaires
210.
What is a problem with using secondary data?
a)
It is easy to find
b)
It is normally quicker to find
c)
You did not create it (it might be unreliable)
d)
You have to find the information yourself
211.

True or False: primary research is very generic and not specific.

a)

True

b)

False

212.

Which two of the following statements are disadvantages of primary research?

a)

Many people don't like completing surveys

b)

You can find specific information

c)

Some people just say what they want you to hear

d)

The business has control over the research and results

213.
___________ is a method used to identify customers with similar wants and needs.
a)
Selling
b)
Planning
c)
Market Segmentation
d)
Sales pitch
214.
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
215.

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

216.
Seeks open-ended responses. Answers questions about “why” and “how"
a)
Qualitative Research
b)
Quantitative Research
c)
Survey
d)
Questionnaire 
217.
A common disadvantage of primary research for a startup is that:
a)
It is time-consuming to obtain
b)
It doesn't answer the questions asked
c)
It doesn't allow for qualitative questions
d)
It can't be done online

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