Worksheets3. BIO - Chapter 3
Total questions: 12
Worksheet time: 6mins
What is the role of market research in entrepreneurship?
To create new products and services.
To systematically design, collect, analyze, and report data relevant to a specific marketing situation.
To replace the entrepreneur’s assumptions with market trends.
To eliminate competition in the market.
What is the primary objective of exploratory research (qualitative)?
To test specific hypotheses and examine relationships
To gain background information, define terms, clarify problems, and establish hypotheses
To conduct large-scale surveys and data mining
To analyze statistical significance of data
What is the core premise of the "Jobs to be Done" (JTBD) theory?
Customers buy products based on their demographics.
Customers "hire" products to accomplish a specific job.
Customers focus on the price of the product.
Customers choose products based on brand loyalty.
What does TAM stand for in the TAM, SAM, SOM framework?
Total Addressable Market.
Targeted Available Market.
Total Achievable Market.
Total Accessible Market.
What is an example of SAM in the TAM, SAM, SOM framework?
Everyone in the world who drinks coffee.
Everyone in Kuala Lumpur who drinks coffee.
The 5% of Kuala Lumpur coffee drinkers you can attract to your shop.
The total number of coffee drinkers in your country.
What does "Information Asymmetry" refer to in the context of Market Dissonance?
When the buyer knows more than the seller.
When the seller knows more than the buyer.
When both buyer and seller have equal information.
When neither buyer nor seller has any information.
Which of the following is an example of a political factor influencing business opportunities?
Visa-Free Policy introduced by Malaysia for tourists from China.
Inflation causing a rise in the price of goods.
Affordable ice cream brands gaining popularity due to economic downturn.
Climate change protocols encouraging sustainability.
Which of the following is an example of an economic factor affecting consumer spending?
Visa-Free Policy for tourists.
Inflation reducing the purchasing power of RM10.
Climate change protocols encouraging carbon credit markets.
Employment laws ensuring health and safety.
What does the term "Silver Economy" refer to in social factors?
Opportunities created by aging populations.
Economic downturn affecting consumer spending.
Technological advancements in automation.
Climate change protocols encouraging sustainability.
What is an example of a social trend related to health awareness?
People preferring 'Kurang Manis' (Less Sweet) or 'Zero Sugar' options.
People eating in large groups more frequently.
The rise of fast food consumption.
Increased use of traditional desserts with full sugar.
What does the term "Legal Factors" refer to in the context of business?
Government's direction and policies.
Written rules that, if broken, result in fines or jail.
Guidelines for ethical business practices.
Recommendations for business growth.
What is an indirect competitor for Energy Drinks according to the learning material?
Red Bull
Coffee
Burger King
AI Caretaker Robots
