MINDANAO MISSION ACADEMY Entrepreneurship

Accountancy, Business and Management

Midterm Examination
Name: ___________________________________________ Score: __________________

“Let your eyes look straight ahead; fix your gaze directly before you. Give careful thought to the paths for your feet and be steadfast in
all your ways. Do not turn to the right or the left; keep your foot from evil”
Proverbs 4:25-27
General Instructions
º Use blue or black ball pens.
º When you have questions, ask directly to the teacher in-charge.
º No talking while taking the exam. Talking to his/her seatmates while taking the exam is considered cheating

I. Identification: Identify what is being described in each statement. Write your answers on the space provided after each
number.

1. Its ultimate goal is to narrow down many opportunities into one or two most attractive ones. _______________
2. At this stage, the entrepreneur must be able to ‘perfect’ the product or service at it goes through the above processes while
continuously subjected to testing and improvement. ___________________________
3. A place where buyers and sellers meet. ______________________________
4. Most common form of market for consumer goods. ____________________________
5. A market segmentation that divides the costumers based on their buying patterns, brand loyalty, usage frequency,
etc._________________________________

6. The amount of a product or service that consumers are willing and able to buy at any given price over a period of time.
___________________
7. A market segmentation that groups customers based on their values, attitudes, interest, lifestyle, and other factors.
___________________
8. Refers to the classification of customers into groups, each of which responds differently to different products or marketing
approaches.____________________________
9. A market segmentation that splits up people according to their age, gender, social class, income, religion, and ethnic group.
_____________________________
10. A market segmentation that groups the customers based on the region they lived. __________________

II. Matching Type: Match the column A with the letters in Column B. Write the Letters only.

A B
______ 1. Opportunity must match with the values and desired virtues that an A. Relevance
entrepreneur have or wish to impart.
______ 2. Opportunity must resonate with the entrepreneur’s personal interests, talents, B. Resonance
and skills.
______ 3. The opportunity can potentially lead to a wide range of possible product or C. Reinforcement of
service offerings, thus, tapping many market segments of the industry. Entrepreneurial Interests.
______ 4. The opportunity is relatively easy to implement for the entrepreneur.
______ 5. Opportunities requiring fewer resources from the entrepreneur may be more D. Revenue
favored than those requiring more resources.
______ 6. The opportunity must align with what you have as your personal vision, E. Responsiveness
mission, and objectives for the enterprise you want to set up.
______ 7. Opportunities that have good chances of expanding through branches, F. Reach
distributorships, dealerships, or franchise outlets in order to attain rapid growth are better
opportunities. G. Revolutionary Impact
______ 8. Opportunity should cater the needs and wants of the customers.
______ 9. If you think that the opportunity will most likely be the “next big thing” or even H. Returns
a game- changer that will revolutionize the industry, then there is a big potential for the
chosen opportunity. I. Range
______ 10. Opportunities with low costs of production and operations but are sold at a
higher prices will definitely yield the highest returns on investments. J. Relative Ease of
Implementation

K. Resources required

L. Risk

III. ESSAY

Recipe for success: Study while others are sleeping; work while others are loafing; prepare while others are playing; and dream while
others are wishing. William A. Ward
 1. What do you think is the use of market segmentation?

2. Based on the picture above, what kind of

personality traits or lifestyle would you
expect the people who buy this product to have? Explain.

3. Refer again to the picture above, would it make sense to segment this product geographically? Why or why not? If “yes”
where?

IV. Screen the following opportunities using the 12Rs.

You were given P1, 000, 000 by your father for you to start your own business. He gave you a list of the following opportunities to
choose from which he obtained through opportunity seeking process.

Market Problem Cause Effect Market needs/opportunity Possible product/services

Internet café with mini-library

Poor/limited internet Delayed in making research
Lack of service provider Establish an internet café and private rooms where people
connection papers
can sleep overnight.
Motor/car rental shop.
Growing demand for People’s works are far from Establish a motorcycle rental Customers may choose their
Lack of transportation.
motorcycles their homes. shop desired vehicle they want to
rent.

A school which offers different

They depend more to the
Increasing number of skills. People will learn
No skill acquired government to feed and help Establish a skill training center
unemployed citizens practical skills which are
them with their living.
applicable to abroad.

Knowing the 12 Rs of opportunity screening, which of the following opportunities will you pursue? Defend your answer.

Recipe for success: Study while others are sleeping; work while others are loafing; prepare while others are playing; and dream while
others are wishing. William A. Ward