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WorksheetsEntrepreneurship Fundamentals and Opportunity Seeking
Total questions: 40
Worksheet time: 20hrs 0mins
The entrepreneurs who create new ideas are called ________.
Fabian
Imitating
Drone
Innovative
These are entrepreneurs who follow the path shown by innovative entrepreneurs.
Imitating
Fabian
Innovative
Social entrepreneurs
Which of the following is NOT part of environmental factors?
Climate
Weather condition
Family background of the manager
Political
The entrepreneur who is skeptical about changes in the company is called ________.
Imitating
Drone
Social entrepreneur
Fabian
Which statement below is true?
Entrepreneurs have limited career opportunities
Entrepreneurs are prone to constant high income
Entrepreneurs contribute to the development of society
Entrepreneurs are the reasons for the unemployment problem
Which statement is true?
Entrepreneurs are researchers
The profit of the entrepreneur is immediate
An entrepreneur will patiently wait for results
All entrepreneurs are successful
Which of the following is NOT true?
None of the choices
Entrepreneurs improve the economy
Entrepreneurs improve life of the entrepreneur alone
Entrepreneurship creates organizations
It is the process of considering, evaluating, and pursuing market-based activities believed to be advantageous for the firm.
Sources of opportunity
Opportunity-screening
Opportunity-seizing
Opportunity-seeking
This is essential to opportunity-seeking which allows the entrepreneur to see things positively in crises.
Entrepreneurial heart flame
Entrepreneurial heart frame
Entrepreneurial gut game
Entrepreneurial mind frame
It is the ability of an entrepreneur to sense without the five senses, known as intuition.
Entrepreneurial mind frame
Entrepreneurial gut game
Entrepreneurial heart flame
Entrepreneurial heart frame
One essential of opportunity-seeking that refers to the driven passion of an individual.
Entrepreneurial mind frame
Entrepreneurial gut game
Entrepreneurial heart flame
Entrepreneurial heart frame
Which variable of the societal environment includes income level and employment rate?
Economic forces
Sociocultural forces
Political forces
Technological forces
Consider the statements: A. Preferences and tastes change easily. B. The buyer has potential for backward integration. C. The switching cost for supplier is minimal. D. Product differentiation is highly noticeable. Which pose a great threat as substitute products?
A and D
A and C
B and C
A, B, C, D
Consider the following choices. A. Preferences and tastes of the customers easily change.
B. The buyer has the potential for backward integration.
C. The cost of switching the supplier cost is minimal.
D. Product differentiation is highly noticeable. Which factors reduce buyer threat because of bargaining power?
A and D
B and C
A and C
A only
They are the ones who pay cash in exchange for your goods and services.
Competitors
Sellers
Buyers
Suppliers
The intensity of rivalry among existing firms is characterized by the following factors, EXCEPT one:
Number of competing firms
The product represents a high percentage of the buyer’s cost
Diversity of rivals
Characteristics of the products or services
Which source of entrepreneurial ideas determines interests, hobbies, and preferences of people?
Technological discovery
Past experiences
Changes in the environment
People’s interest
Societal environment includes the following, EXCEPT:
Natural resources
Political forces
Sociocultural forces
Economic forces
Which is the result of identifying entrepreneurial opportunities?
Entrepreneurial process
Creation of entrepreneurial ideas
Opening of entrepreneurial venture
Sources of opportunity
Which entrepreneurial idea recognizes new discovery and advancement of technology as a source of opportunity?
People’s interest
Government thrust, programs, and policies
Technological discovery and advancement
Changes in the environment
A source of entrepreneurial idea where expertise and skills from previous work lead to a related business.
Past experiences
People’s interests
Government thrust, programs, and policies
Technological discovery and advancement
What is the relationship between unique selling proposition and value proposition?
Connected with only one particular thing
Persuades another to exchange money for a product or service
Meets your competitors’ needs wants
A framework of each business industry
The following variables are considered in behavioral segmentation, EXCEPT:
Perception
Benefits
Brand concept
Reaction
What is the function of value proposition?
Provide value to your customers
Used to power up sales
Used to convince customers to purchase a product or services
Help customers’ buying habits
Give an example in promotion using value proposition and unique selling proposition.
With the slogan Langhap Sarap
Ordinary sari-sari store
Multinational business
Fruit shake stand
________________ will determine possible customers in one locality.
Market design
Market size
Market strategy
Market research
The term behavioral segmentation refers to
divided according to customers behavior pattern as they interact with a company
divided based on consumers
divided in terms of how customers think and believe
divided according to geographical location
This selects the type of customer requirement
service fulfillment
service requirement
service oriented
service responsibility
This refers to how you sell your products or services to your customer.
Marketing concept
Unique selling proposition
Selling proposition
Value proposition
What is the first step in conducting strategic marketing?
Estimate business funding
Estimate the market share
Estimate the customers who are probably dislike to buy your product
Estimate the potential market
A milk tea shop surveys students about their preferred flavors and buying frequency. What part of market analysis is this?
Risk assessment
Customer behavior study
Competitor price checking
Market size estimation
John wants to sell gadgets online and finds many sellers offering similar items. This highlights the need to analyze:
Competition level
Business location
Product quality
Advertising style
Studying competitors’ strengths and weaknesses allows a business to
Improve its strategies
Control the market
Stop competition
Avoid expenses
Which one is not a P in Marketing Mix?
Price
People
Promotion
Participant
Which statement supports Marketing Mix?
The marketing mix is also known as the “M’s” in marketing.
Marketing Mix is a set of controllable and connected variables that a company gathers to satisfy a target group better than its competitor.
There are only 4 P’s in Marketing Mix.
None of the above
Select the best definition of Product.
None of the above
A product is an item that is built or produced to satisfy the needs of a certain group of people; it can be intangible or tangible.
A product is an item that is built or produced to compete in the world of business; it can be intangible or tangible.
A product is an item that is built or produced primarily to gain profit; it can be intangible or tangible.
Choose the best statement that applies to Consumer Goods.
The market for consumer goods is affected by technological changes.
A buyer of consumer goods may not have thorough knowledge of the goods he buys and uses.
After-sale service is of paramount importance in the case of all consumer goods.
A buyer of consumer goods must have complete knowledge of the goods he buys and uses.
What is the advantage of Penetration Pricing?
A firm has three options and these are to price lower, price the same or price higher than competitors
A firm can create the perception that the products must have a higher value than competing products because the prices are higher.
The company will gain market share because the price charged for products and services is set artificially low.
The company earns more through cross-selling products along with a basic core product.
How would you best promote a product?
None of the above
By offering Brochure, Catalogues, Fliers, Newsletters
By offering Free Gifts, Free Samples, Free Trial, Customer Contests, Special Pricing
By offering Post cards, Coupons, Email, Phone calls, Text messages
The following are interpretations of the word Brand except
a legal instrument
a vision
a logo
a business
