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FIRST QUARTER EXAM - Attempt Review
FIRST QUARTER EXAM - Attempt Review
Question 1
Correct
This is an employed staff e.g. manager who innovates for the company and takes risks only on behalf of the employer.
a. Intrapreneur
b. Interprenuer
c. Entrepreneur
d. Employee
Question 2
Correct
a. Demographic
b. Behavioristic
c. Psychographic
d. Geographic
Correct
This concept proposes that customers, be individual or organizations will not buy enough of the organization’s products unless
they are persuaded to do so through selling effort
a. Production Concept
b. Marketing Concept
c. Selling Concept
d. Product Concept
Question 4
Correct
The collective learning of the organization, especially how to co-ordinate the diverse production skill and integrate multiple stream
of technologies.
a. Strategic Architecture
b. Strategies
c. Core Competency
d. Strategic Intent
Question 5
Correct
Those who sell non-competing products and which generally help your sales.
a. Competitors
b. Complementors
c. Customers
d. Supplier
Correct
_____________ are like competitors but their products are not the same.
a. Regulator
b. Supplier
c. Influencers
d. Substitutors
Question 7
Correct
Potential customers are identified by criteria such as age, race, religion, gender, income level, family size, occupation, education
level and marital status.
a. Demographic
b. Psychographic
c. Behavioristic
d. Geographic
Question 8
Correct
a. Marketing Concept
b. Production Concept
c. Selling Concept
d. Societal Concept
Correct
A thought process or method used to generate creative ideas by exploring many possible solutions.
a. Convergent thinking
b. Survey
c. Divergent thinking
Question 10
Correct
This is the development within a large co-operation of internal markets and relatively small autonomous business units producing
products, services or technologies that employ the firms‟ resources in a unique way.
a. Interpreneurship
b. Entrepreneurship
c. Intrapreneurship
d. Intrapreneur
Question 11
Correct
a. Skills
b. Idea
c. Creativity
d. Innovativeness
Correct
The ____________________concept calls upon marketers to build social and ethical considerations into their marketing practices.
a. Marketing Concept
b. Selling Concept
c. Production Concept
d. Societal Concept
Question 13
Correct
People in your target market who are not currently looking for a solution.
a. Existing Customer
c. Prospects
d. Consumer
Question 14
Correct
The basic proposition of this concept is that customers will choose products and services that are widely available and are of low
cost.
a. Product Concept
b. Selling Concept
c. Marketing Concept
d. Production Concept
Correct
The process of breaking down a larger target market into smaller segments with specific characteristics.
a. Market Positioning
b. Marketing
c. Target Market
d. Market Segmentation
Question 16
Correct
According to a French economist, J. B. Say, an entrepreneur is a person who shifts economic resources out of an area of lower
productivity into an area of higher productivity and greater yield.
a. Investor
b. Innovator
c. Entrepreneur
d. Businessman
Question 17
Correct
a. Market Segment
b. Market Potential
c. Target Market
d. Market
Correct
_____________ may sell directly into the market, for example selling spare parts, but largely they need to be kept aligned to your
strategy.
a. Complementors
b. Competitors
c. Customers
d. Supplier
Question 19
Correct
This concept was an offshoot of the marketing concept wherein an organization believes in giving back to the society by producing
better products targeted towards society welfare.
a. Marketing Concept
b. Production Concept
c. Selling Concept
d. Societal Concept
Question 20
Correct
a. entreprese
b. entrep
c. entreprene
d. entreprendre
Correct
The __________ concept is more operations oriented than any other concept.
a. Production Concept
b. Selling Concept
c. Marketing Concept
d. Societal Concept
Question 22
Correct
a. Idea
b. Creativity
c. Innovativeness
d. Skills
Question 23
Correct
a. Product
b. Production Method
c. Markets
d. Wealth
Correct
The roadmap which predicts what core competencies to build and which related technologies are needed.
a. Strategic Intent
b. Strategic Architecture
c. Strategies
d. Core Competency
Question 25
Correct
The most important organization or people in the market are your ________.
a. Customers
b. Competitors
c. Supplier
d. Complementors
Question 26
Correct
a. Survey
b. Convergent thinking
c. Divergent thinking
Correct
a. Adam Smith
b. Joseph Schumpeter
c. J.B. Say
d. Richard Cantillon
Question 28
Correct
a. Profitability
b. Income
c. Sales
Question 29
Correct
People who have not yet purchased your product but are considering it
b. Prospects
c. Existing Customer
d. Consumer
Correct
This concept proposes that consumers will prefer products that have better quality, performance and features as opposed to a
normal product.
a. Production Concept
b. Marketing Concept
c. Selling Concept
d. Product Concept
Question 31
Correct
Many businesses offer products based on the attitudes, beliefs and emotions of their target market.
a. Behavioristic
b. Psychographic
c. Geographic
d. Demographic
Question 32
Correct
The ability to give the "correct" answer to standard questions that do not require significant creativity
a. Divergent thinking
b. Convergent thinking
c. Survey
Correct
Individuals and households who buy goods for their own use or benefit.
Question 34
Correct
a. Strategies
b. Core Competency
c. Strategic Architecture
d. Strategic Intent
Question 35
Correct
a. Sales driven
b. Feedback Driven
c. Product Driven
d. Market driven
Correct
A person who is able to identify business opportunities and implement actions to maximize on the opportunities.
a. Entrepreneur
b. Innovator
c. Businessman
d. Investor
Question 37
Correct
The __________________ phase is crucial when beginning a new enterprise, it is important to seek new opportunities throughout
the entire lifetime of any enterprise
a. Opportunity Realization
b. Opportunity Recognition
c. Opportunity Assessment
Question 38
Correct
a. Opportunity Assessment
b. Opportunity Recognition
c. Opportunity Realization
Correct
a. Creativity
b. Sales
c. Opportunity
d. Market Potential
Question 40
Correct
Focuses on needs / wants of target markets & delivering value better than competitors do that preserves the consumer and
society’s well-being
a. Production Concept
b. Marketing Concept
c. Societal Concept
d. Selling Concept
Question 41
Correct
Individuals, groups or organizations that purchase your product or service for direct use in producing other products or for use in
their day-to-day operations.
Correct
The needs that are explicit statements from your market that declare, “I want a product to do X.”
a. Silent Needs
b. Stated Needs
c. Primary Needs
d. Secondary Needs
Question 43
Correct
This concept proposes that the success of the firm depends on the marketing efforts of the company and in delivering a better value
proposition as compared to its competitors in its own target market.
a. Societal Concept
b. Production Concept
c. Marketing Concept
d. Selling Concept
Question 44
Correct
a. Joseph Schumpeter
b. J.B. Say
Correct
This concept believes in the consumer and it says the consumers are more likely to be loyal if they have more options of products or
they get more benefits from the product of the company
a. Marketing Concept
b. Product Concept
c. Production Concept
d. Selling Concept
Question 46
Incorrect
The middlemen or intermediaries, such as wholesalers and retailers, who buy finished goods and resell them for a profit.
Question 47
Correct
There are also groups and organizations who have no direct control but who will seek to promote their own agendas by influencing
players within the marketplace, including regulators and retailers
a. Substitutors
b. Supplier
c. Regulator
d. Influencers
Correct
Those who have products and services similar to you and where customers who are buying something will compare your offerings
and prices directly, weighing one up against the other.
a. Customers
b. Supplier
c. Complementors
d. Competitors
Question 49
Correct
This concept believes in the pull strategy and says that you need to make your brand so strong that customers themselves prefer
your brand to every other competitor.
a. Selling Concept
b. Production Concept
c. Marketing Concept
d. Societal Concept
Question 50
Correct
a. Prospects
c. Existing Customer
d. Consumer
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