ENTREPRENEURSHIP

LONG QUIZ
Name: __________________________________ Score: ________________

IDENTIFICATION
Direction: Identify the correct answer in the following statement. Choose your answer inside the box.

Entrepreneur Vision Statement

Loyalty USP
Risk appetite
Idea stage
Brainstorming
Customer requirement
Opportunity Screening
Market research
Business plan
Social Entrepreneur
Opportunity seizing
Opportunity Spotting and Assessment
Market size
Goal-oriented

_____________________1. This refers to the identity of a company, of a product, of a service or of an entrepreneur

himself/herself.
_____________________2. The testing method wherein the participants provide insights about the new product or service.
_____________________3. The major differentiator of the entrepreneur against the competitors.
_______________________4. This refers to adding an extra product or service on the top of the original to generate more revenue
_______________________5. Pricing strategy wherein the prices are initially high and then they are lowered to offer the product or service
to a wider market.
_______________________6. This is a type of communication that influences the behavior of the customer to choose the product or
service of the entrepreneur over the competitors.
_______________________7. It is a face-to face contact between the researcher/entrepreneur and a respondent where the researcher
asks pertinent questions that will give him significant information about the problem to be solve.
_______________________8. It is the process of developing, testing, and commercializing a product or service with the ultimate objective
of solving the problem of the primary target market
_______________________9. It is a preliminary model or sample of a new product or service that is created to test a product concept or
service process.
______________________10. The process of translating raw materials into finished goods that are acceptable to the customer’s standard.
______________________11. The process of finding out if the intended primary target market will be buying the product or availing the
service
______________________12. This is the act of trading a product or service of a price or a fee
______________________13. One technique for creating the best prototype is by studying the ___________________ product or service
______________________14. This is an informal type of interview and does not follow specific set questions.
______________________15. These machines help researchers understand the purchase behavior of the customer by reading the
product codes and generate relevant sales information.
______________________16. These are costs not directly proportional to the manufacturing of a product or to the performance of the
service
______________________17. It represents the day-to-day operations of a business
______________________18. The materials or ingredients to be used in creating the product.
______________________19. It simply describes how a product or service works and how it benefits the customers.
______________________20. It is widely accepted strategic marketing tool in formulating marketing tactics for a product or service.
II. Determine the MARKETING MIX that is being described on each item. Choose from the
following choices and write the LETTER of your choice on the space provided.

XA. Product XC. Place XE. People XG. Processing

XB. Price XD. Promotion XF. Packaging

______21. The good or service that the customer buys __UCT

______22. Those that contact with the customers in delivering the product POPLE

______23. The amount the customer pays for the product

______24. It refers to a location or the medium of transaction.
______25. The outside appearance of the product PACKAGING
______26. It determines the capability of the product to supply the demand of the consumers.
______27. Must be the answer to the needs and wants of the consumers.

III. ENUMERATION