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Total questions: 15
Worksheet time: 8mins
What is a proactive process of developing a business venture to make a profit?
Market
Economic Development
Entrepreneurship
A highly _______________entrepreneur displays full commitment to the work endeavor that he/she is undertaking.
committed
Persistent
Opportunity seeker
Refers to the mental ability of the entrepreneur to learn new things, generate new ideas, and express
knowledge in both oral and written forms.
Cognitive skills
Interpersonal skills
Problem - Solving skills
These are entrepreneurs who are to follow the path shown by innovative entrepreneurs.
Imitating
Fabian
Innovative
In which of the following potential products are in demand among single females, ages 20-30 years?
Fruits and vegetables, hair dye, medicines.
Trendy clothes, soft drinks, chips, prepaid cellphone load
Beauty products, clothes, bags, perfumes, shoes and magazines
You have identified a market need for a durable and waterproof backpack for outdoor enthusiasts. Which option below represents the most effective way to apply your knowledge and select the best backpack that will meet this market need?
Consult with outdoor experts and enthusiasts to gather their recommendation on the best backpack for outdoor activities
Evaluate the materials, constructions, and customer reviews of backpacks to determine their durability and waterproof capabilities.
Compare the features and specifications of different backpacks and select the one with the highest customer ratings.
Which among the statement is true about the product and service planning and development?
The consumer will conduct a consumer panel in the concept stage.
The work done from the idea, concept and development is validates in the test marketing stage.
In the idea stage conversational interviews are conducted to understand consumer preference
All statements refer to the product and service planning and development except one.
Actual reactions from prospective customers are determined
Actual reactions from prospective customers via the concept stage is product development stage.
In the concept stage both favorable and unfavorable results will be used to device an acceptable
product/services.
Why is it important to identify and rank the uniqueness product/service?
Key to success as this will compel customers to purchase from you and not from your competitors.
Customers think that they are really getting more value from you than others.
Customers do not want to feel that they are being fooled
Why is important to determine the primary and secondary target market?
Serve all types of customers can give more profit to the entrepreneurs
Entrepreneurs can expand business if a wide range of customers serve.
Entrepreneurs must focus only on customers whom they can serve beneficially.
In a competitive market, a company wishes to highlight the emotional and experiential aspects of its products.
Which category would best describe the qualities that are felt by customers?
Tangible
Output
Service
Ana usually buys coffee in a specific coffee shop that provide loyalty card, so that she can accumulate 10 points
which if succeed she will be able to get a free coffee drink. What P’s in marketing mix those the paragraph implies?
Pricing
Promotion
Product
Which of the following is not important in trademark?
Legal protection for the business.
Effective communication with the target market.
The Customers will feel not more protected and valued
Coca – cola launched campaigns like ‘My Coke Rewards’ and ‘Share a Coke’ where customers could personalize
their coke bottle with their names. What type of branding strategy applied in the situation?
Umbrella Branding
Individual Branding
Crowdsourcing
Which branding strategy would be most suitable for Super Mart’s new line of kitchen appliances, given that the
company wants to leverage its existing brand reputations and customer trust across various related products?
Umbrella Branding
Private Labels
Attitude Branding
