1) The entrepreneurs who create new ideas are called?  a) Innovative b) Imitating c) Risk taker d) Enthusiasm 2) Which of the following is NOT a function of an entrepreneur? a)  Skills management b) Risk takingSkills management c) Conduct ResearchC d) Make no changes with his product 3) Entrepreneur means: a) Risk taker b) To undertake c) To research d) To improve standard of living 4) It is a personality factor which means “doing things even before being told” a) proactive b) perseverance c) persuasion d) initiative 5) Which of the choices is NOT part of the environmental factors? a) Political b) Weather condition c) climate d) family background of the manager 6) It refers to the physical environment, societal environment, and industry environment where the business operates. a) . Entrepreneurial mind frame b) External Environment c) Entrepreneurial heart flame d) Entrepreneurial heart frame 7) It is the process of considering, evaluating, and pursuing market based activities that are believed to be advantageous for the firm. a) Opportunity seeking b) Opportunity seizing c) Opportunity screening d) Sources of opportunity 8) It is the ability of entrepreneur that can sense without using the five senses, also known as intuition. a) Entrepreneurial mind frame b) Entrepreneurial gut game c) Entrepreneurial heart flame d) Entrepreneurial heart frame 9) Service requirement _______ thing or product not able to touch but customer can feel the fulfillment. a) Intangible b) Tangible c) Service d) Output 10) Tips for the entrepreneur on how to create an effective unique selling proposition to the target customers, EXCEPT. a) It should be complex. b) Identify and rank the uniqueness of the product or services characteristic. c) Very specific d) Keep it short and simple 11) The following variable to consider in behavioral segmentation, EXCEPT. a) perception b) brand concept c) reaction d) benefits 12) Which of the following refers to the marketing copy that explains what a product is and why it is worth purchasing? a) Prototype b) product description c) Business Model d) Suppliers 13) It represents the final products from the production process and distributed to the customers. a) Input b) Supplies c) Output d) Materials 14) Which of the following refers to the human workforce involved in the manufacture of products? a) Materials b) Method c) Machine d) Manpower 15) It describes the rationale of how an organization creates, delivers, and captures value in economic, social, cultural or other contexts. a) Prototype b) product description c) Business model d) Supplier 16) Which is NOT the basic benefits of entrepreneurship? a) It increases social conflicts and political unrest. b) It controls the local wealth and balances regional development. c) It produces more jobs that equate to an increase in national income. 17) What characteristic best describes entrepreneurship? a) A person involved in entrepreneurial activity b) The ability to operate a business c) The ability and willingness to take a risk to develop a business 18) Entrepreneurs work until a job is done. They are determined to overcome problems. a) Persistent b) Responsible c) Creative 19) Source of entrepreneurial idea where expertise and skills developed by a person from its previous work can lead to the opening of a related business enterprise. a) Government’s thrust, programs, and policies b) People’s interests c) Technological discovery and advancement d) Past experiences 20) Entrepreneurial process starts with identification of entrepreneurial opportunities. a) TRUE b) FALSE 21) Interest and hobbies of the people are possible good source of entrepreneurial ideas. a) TRUE b) FALSE 22) The place occupied by products in the heart and minds of the consumers. a) Branding b) Positioning c) Goods d) Place 23) A powerful and sustainable high-level marketing strategy used to create or influence a brand. a) Brand name b) Positioning c) Branding d) Place 24) What is the formula for gross profit a) Revenue – Cost of Goods Sold b) Revenue - Operational Expenses - Cost of Goods Sold - Day-to-Day Costs c) gross profit - operating expenses and taxes 25) Which statement supports Marketing Mix? a) The marketing mix is also known as the “M’s” in marketing. b) Marketing Mix is a set of controllable and connected variables that a company gathers to satisfy a target group better than its competitors. c) There are only 4 P’s in Marketing Mix. d) None of the above

ENTREP 101

by
Print
Embed

Leaderboard

Visual style

Options

Switch template

Continue editing: ?