First Quarter Examination
Entrepreneurship
1. The entrepreneurs who create new ideas are called
A. Innovative B. Imitating C. Fabian D. Drone
2. The entrepreneur who lives on the labor of others is called
A. Drone B. Fabian C. Imitating D. Innovative
3. These are entrepreneurs who are to follow the path shown by innovative entrepreneurs.
A. Innovative B. Imitating C. Social Entrepreneurs D. Fabian
4. Which of the following is NOT a function of an entrepreneur?
A. Skills management C. Conduct research
B. Risk taking D. Make no changes with his product
5. Entrepreneur means:
A. Risk taker B. To undertake
C. To research D. To improve standard of living
6. It is a personality factor which means “doing things even before being told”
A. proactive B. perseverance C. persuasion D. initiative
7. It is a personality factor which means convincing customers to buy the product
A. Proactive B. Persuasion C. Self-confidence D. Risk taker
8. Which of the choices is NOT part of the environmental factors?
A. Political B. Weather condition C. climate D. family background of the manager
9. All except one does NOT belong to the group, which one is it?
A. Unfair trade practices B. Strikes C. Political protest D. Product
10. The entrepreneur who is skeptical about the changes in the company is called?
A. Fabian B. Social entrepreneur C. Drone D. Imitating
11. The following are the forces competing within the industry except one, which one is it?
A. Potential new entrants and Substitute Products
B. Buyers and Suppliers
C. Rivalry among existing firms
D. Needs and Wants
12. They are the ones that provide something that is needed or wanted.
A. Buyers B. Competitors C. Buyers D. Sellers
13. It refers to the physical environment, societal environment, and industry environment where the
business operates.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. External Environment D. Entrepreneurial heart frame
14. They are the ones who enter something.
A. Buyers C. Suppliers
B. new entrants D. Sellers
For questions 15 to 16 refer to the following statements:
A. Substantial capital requirement
B. Substitute products are not readily available in the market
C. Difficulty in accessing distribution channels
D. The product or service is unique
E. Characteristics of the products or services
F. Increased capacity
15. In Potential New Entrants the intensity of its threat will be affected by the presence of the
following barriers.
A. A and C B. A, B, C and D C. A only D. All of the above
16. In rivalry among existing firms, the industry is attributable to the following factors.
A. E and F B. A, B, C and D C. A and B D. All of the above
17. Which of the following includes the industry environment of the business?
A. Competitors B. Customers C. Creditors D. All of the above
18. It is the process of considering, evaluating, and pursuing market- based activities that are believed
to be advantageous for the firm.
A. Opportunity seeking C. Opportunity screening
B. Opportunity seizing D. Sources of opportunity
19. This is essential to opportunity-seeking which allows the entrepreneur to see things in a positive
and optimistic light in the midst of crisis or difficult situations.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. Entrepreneurial gut game D. Entrepreneurial heart frame
20. It is the ability of entrepreneur that can sense without using the five senses, also known as
intuition.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. Entrepreneurial gut game D. Entrepreneurial heart frame
21. What is the function of Value Proposition?
A. used to power up sales
B. determine customers buying habits
C. convince customer to purchase a particular product or services.
D. provide value to your customers
22. This is an example of promotion using Value Proposition and Unique Selling Proposition.
A. fruit shake stand
B. with the slogan “Langhap Sarap”
C. ordinary sari-sari store
D. multinational business
23. These are the types of requirements, which one is a type of customer requirement?
A. service responsibility C. service requirement
B. service-oriented D. service fulfillment
24. This is considered as favorable indicators for doing business in a particular location.
A. structure of the segment C. size and growth of the segment
B. capability of the business D. segmentation marketing
25. What is market size?
A. Tangible things that can be seen
B. The most important part to the success of the company
C. Size of arena where the entrepreneur will play their business
D. Another variation of segmentation marketing
26. This refers to how you sell your products or services to your customer.
A. Value proposition C. Selling proposition
B. Marketing concept D. Unique selling proposition
27. Service requirement is a _________ thing or product that cannot be touched but the customer can
feel the fulfillment of buying or using it.
A. Intangible B. Tangible C. Service D. Output
28. The following are tips for the entrepreneur on how to create an effective unique selling
proposition to the target customers, except
A. Completeness of proportion
B. Identify and rank the uniqueness of the product or services characteristic.
C. Be Very specific
D. Keep it short and simple
29. ________________ will determine the entrepreneur’s possible customers in one locality.
A. Market design B. Market size C. Market strategy D. Market research
30. The following are variables to consider in behavioral segmentation, except.
A. perception B. brand concept C. reaction D. benefits
31. It is the most common way to gather primary information/data with the use of questionnaires or
interview schedule.
A. Interview C. Survey
B. Focus group discussion D. Data gathering
32. It is the traditional method of data collection which is normally done on a face-to-face manner
with the respondents.
A. personal interview C. survey
B. focus group discussion D. data gathering
33. It refers to a type of focus group discussion where it obtains information on general attitudes,
understands the circumstances under which customers might require your product or service, and
understand their desired outcomes.
A. trend explanation C. feature prioritization
B. exploratory D. comparative analysis
34. It is a type of FGD where customers go to get similar information, services or products and what
attracts them to those resources.
A. trend explanation C. feature prioritization
B. exploratory D. comparative analysis
35. A data gathering technique where it can be moderated to group interviews and brainstorming
sessions that provide information on user’s needs and behaviors.
A. personal interview C. survey
B. focus group discussion D. data gathering
36. It refers to information gathered directly from the respondents who answered a set of questions.
A. primary research C. survey
B. secondary research D. data gathering
37. It is a type of discussions in FGD if trade-offs have to be made among various customer needs.
A. trend explanation C. feature prioritization
B. exploratory D. comparative analysis
38. A data gathering technique where it can be done via direct mail, over the phone, internet or e-mail.
A. data gathering C. focus group discussion
B. survey D. personal interview
39. It is the process of gathering, analyzing and interpreting the information about the product or the
services to be offered for sale in the market, the market and about past, present and any potential
consumers for the products.
A. data gathering C. secondary research
B. primary research D. market research
40. It is an important aspect of any type of research study, it can impact the results of a study and
ultimately lead to valid or invalid results.
A. data collection C. secondary research
B. primary research D. market research
41. Which one is not a P in Marketing Mix?
A. Price B. People C. Participant D. Promotion
42. 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 competitor.
C. There are only 4 P’s in Marketing Mix.
D. None of the above
43. Select the best definition of Product.
A. 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.
B. A product is an item that is built or produced primarily to gain profit; it can be intangible
or tangible.
C. A product is an item that is built or produced to compete in the world of business; it can be
intangible or tangible.
D. None of the above
44. Choose the best statement that applies to Consumer Goods.
A. A buyer of consumer goods must have complete knowledge of the goods he buys and uses.
B. After-sale service is of paramount importance in the case of all consumer goods.
C. The market for consumer goods is affected by technological changes.
D. A buyer of consumer goods may not have thorough knowledge of the goods he buys and
uses.
45. What factors would change in the distribution channel if there will be no Intermediary like
producer and consumer?
A. Nothing will take place, since it has no intermediary levels. In this case the manufacturer
cannot sell to customers.
B. Direct-marketing will take place, since it has no intermediary levels. In this case the
manufacturer sells directly to customers.
C. The company will utilize technology to reach the customers.
D. All of the above
46. What is the advantage of Penetration Pricing?
A. A firm has three options and these are to price lower, price the same or price higher than
competitors
B. A firm can create the perception that the products must have a higher value than competing
products because the prices are higher.
C. The company earns more through cross-selling products along with a basic core product.
D. The company will gain market share because the price charged for products and services is
set artificially low.
47. Promotions refer to the partial set of activities, which communicate the product, brand or service
to the user. The idea is to make people aware, attract and induce to buy the product, in preference over
others. Find the error.
A. partial set of activities
B. which communicates the product
C. idea is to make people aware, attract and induce to buy the product
D. No error
48. How would you promote a product?
A. By offering Free Gifts, Free Samples, Free Trial, Customer Contests, Special Pricing
B. By offering Brochure, Catalogues, Fliers, Newsletters
C. By offering Post cards, Coupons, Email, Phone calls, Text messages
D. None of the above
49. The following are interpretations of the word Brand except
A. a legal instrument
B. a logo
C. a business
D. a vision
50. How can you define your business's purpose?
A. Purpose can be defined in two ways: Functional which focuses on the evaluations of
success in terms of immediate and commercial reasons and Intentional which focuses on
success as it relates to the ability to make money and do well in the world.
B. Purpose can be defined in two ways: National which focuses on the evaluations of success
within the country for commercial reasons and International which focuses on success as it
relates to other countries to make money and do well in the world.
C. All of the above
D. None of the above