Entrepreneurship 12

DKRB
Class No._______ Name:___________________________________ Parent/Guardian Signature:________________________
Year / Section: 12- Proctor’s Initials:______ Rm. #:_______ Date of Examination:_____________

Type of Test Total Number of Points Score

I. Multiple Choice 50
Total 50

1. In market research purpose and objective for conducting you must use the ____ questions.
a. Why b. What c. Who d. How
2. Determines the scope and the limitations of the market research to be conducted, you must use ______question.
a. Which b. who c. when d. how
3. Segmenting the market you must use _____question.
a. Where b. which c. Why d. Who
4. Data gathering for the members of the market research, you must use _____question.
a. When b. How c. Who d. What
5. Time and timing for the market research is important , you must use______question.
a. Where b. When c. Which d. What
6. Pinpoints the relevant location of the market research, you must use ____question.
a. How b. Where c. Who d. When
7. It can be done with Survey, Focus group discussion, you must use _____ question.
a. Who b. what c. How d. Where
8. If someone starts a new business that is a service station, this is an example of a(n):
a. new concept/new business.
b. existing concept/new business.
c. existing concept/existing business.
d. new concept/existing business.
9. Determine if the following statement is true or false: When developing an exit strategy for an entrepreneurial venture, the
most important consideration is finding a suitable buyer.
A. False, there are many factors to consider, such as company valuation and personal goals.
B. True, if the buyer is inexperienced, the business risks monetary losses and long-term failure.
C. False, the most important factor that an entrepreneur should consider is profitability.
D. True, the valuation of a business is dependent on the buyer's financial resources.
10. Which of the following is an example of a durable good:
A. House B. Haircut C. Gasoline D. Hamburger
11. Motives, perception, attitude, lifestyle, personality, and abilities are __________ factors influencing
consumer behavior.
A. political B. social C. psychological D. economic
12. Which of the following situations describes a business process changing due to technological factors:
A. A manufacturing company purchases a new software program to run its machines.
B. A small general store offers more discounts to compete with a new shopping mall.
C. A waste treatment plant changes its disposal method to align with environmental law.
D. A family-owned restaurant opens a second location in an effort to expand its brand.
13. Entrepreneurial behavior typically requires all of the following EXCEPT:
A. invention of something new. C. drive.
B. willingness to take risks. D. creativity.
14. All of the following are characteristics shared by successful entrepreneurs EXCEPT:
A. passion. C. product/customer focus.
B. risk averse. D. tenacity despite failure.
15. Good market research allows entrepreneurs and invertors to make wiser decisions. This belongs to:
a. Focus Group Discussion c. market research Methodologies
b. Data Gathering d. Decisions to made
16. Albert is experiencing problems of his market research about the decisions to made of his research. In the choices below
which is not belong to the 3 key decisions to make?
a. The definition of the respondents c. The screening of respondents
b. The classification of the respondents d. Data Gathering
17. A facilitator who is very skilled in moderating and possesses the ability to draw out significant insights from the
participants. This is under____.
a. Observation technique b. Data gathering c. Decisions to made d. Market research
18. The following statements are under:
 Most way to gather data about your customer
  Having a clear objective in mind will help the researchers focus on the important things.
 In the absence of a video recording, jotting down observations will do
a. Data Gathering c. Data gathering
b. Focused Group Discussion d. observation Techniques
19. Which is NOT true statement about observation Techniques?
a. The needed information must be observable or inferable from the behavior
b. The subject matter contains some sensitivity that needs detached observation
c. The behavior of interest must be repetitive, frequent, or predictable in so,e manner.
d. None of the above
20. The following statements are under Survey Research. Which is not belong to the group?

a. The most popular and common research method used in social sciences as well as in our society
b. Is one of the most important areas of measurement in applied social research.
c. The broad area of survey research encompasses any measurement procedures that involve asking questions of
respondents.
d. The rules for assigning numbers should be standardized and applied uniformly rules must not change over objects or
time
21. Why conduct survey research?
a. Gather information not available from other sources
b. Unbiased representation of population interest (depending on sampling)
c. Consistency of measurement
d. all of the above
22. A market survey is important because it tells you:
A. How many & what types of people are shopping at a store.
B. Tells you what the customer will buy.
C. Tells you how much the customer will pay for the product.
D. All of the above.
23. Product planning tells you:
A. Where you will produce your product. C. Your Net profit
B. Cost to produce your product. D. Total revenues
24. What things could you change to adjust your profit?
A. Price. C. Less expensive supply sources.
B. Number. D. All of the above.
25. True or false: A business budget is significantly different from a personal budget.
a) True b) False
26. The best reason for starting a business is to:
a) Stop going to school
b) Earn a living
c) Fill a need in the community and do something you love
27. True or false: You won't have an idea how much income you'll make until you start running the business.
a) True b) False
28. Which of the following is likely to be the biggest risk you face when you start a business?
a) Financial (making enough money)
b) Emotional (feeling stressed)
c) Environmental (natural disasters, such as hurricanes or earthquakes)
29. The person who creates value by moving resources out of less productive areas into more productive one is called
A. A Banker B. A Magician C. A Business guru D. An entrepreneur
30. The first step in the market research process is to
a. collect data. c. design the research,
b. define the problem d. determine the relevant information..
31. . What can a company do to achieve stellar customer service and satisfaction?
a. Listen to customers with the help of suggestion boxes, focus groups, surveys, and other tools.
b. Define what "superior service" means so that customers and employees know exactly what to expect and what to
provide.
c. Hire friendly, courteous sales and service representatives.
d. Use technology to provide better customer service.
e. All of the above
32. RRY Company has a business plan but no one knows how to run the company. What part of the business plan should this
belong?
a.Marketing Plan b. Introduction c. Service offers d. all of the above
33. It involves the behavioral patterns of people, objects and events in a systematic manner to obtain information
about phenomenon of interest.
a. Focus group b. Survey Research c. Observation Method d. Field test
34. This is the most popular technique for gathering primary data in which a researcher interacts with people to obtain facts,
opinions, and attitudes.
a. Focus group b. Survey Research c. Observation Method d. Field test
35. Assigning numbers or other symbols to characteristics of objects according to certain pre-specified rule.
a. personal Interview b. Measurement
c. Scaling d. Customer Profiling
36. It Involves creating a continuum upon measured objects are located.
a. personal Interview b. Measurement
c. Scaling d. Customer Profiling
37. Maria should consider the process used by business to collect, analyze and interpret information. Maria needs to check
the_____.
a. Market research b. Market Methodology c. Market strategies d. None of the above
38-44
A. Price B. Promotion C. Place D. Product E. Packaging F. Positioning G. People
38. It’s all about how our customers see us, what they think about us, and the feeling they get when using our product or
service.
39. Without __________ your business is NOTHING!
40. Consider as the vicinity map of your business.
41. Advertising your products means _________.
42. Product evaluation in terms of economic analysis is______.
43. Make your product speak for your company.
44. Counter part of money is _________.
No. 45-52 under “Promoting the business”
Here are your choices: Write only the letter of the correct answer in the answer sheet.
A. Create a brand image, or logo
B. Network
C. Advertise
D. Build business partnerships with other organizations.
E. Rely on the power of social networks
F. Offer freebies
G. Develop relationships with your customers
H. Encourage customers to talk about their experience using your business.
45. Meeting professionals from other, related businesses is an effective form of business promotion.
46. Place print ads in magazines, newspapers, coupon books, trade journals and industry magazines. Choose print
mediums that are suited to your business.
47. There is no tool more powerful than people talking with their family members or friends about your product or the
quality of your work.
48. Things like pens, magnets and calendars are good merchandising ideas, as these tend to stay in use, and within view,
for extensive periods of time.
49. Customers are people — not numbers — and it is important that you put consideration and effort into building
personal relationships with them.

50. Widespread brand recognition is your goal, as it will give your business credibility and inspire others to spread the
word about your business