ENTREPRENEURSHIP

Directions: Read each question carefully. On your answer sheet, write your answer in a CAPITAL LETTER. Erasure means wrong.

1. Which of the following is process of gathering, analyzing, and 13. The act of placing several products or services together in a single
interpreting the information about the products or the services to be package and selling for a lower price than would be charged if the
offered for sale to the potential consumers in the market items were sold separately.
A. Data Gathering C. Primary Research A. Bundle Pricing C. Competition Pricing
B. Market Research D. Secondary Research B. Product Line Pricing D. Optional Pricing

2. It is the most valuable tool in any type of research study. Inaccurate 14. It refers to the complete set of activities, which communicate the
data collection may cause mistakes and ultimately lead to invalid product, brand or service to the user.
results. A. Price C. Product
A. Personal Interview C. Survey B. Place D. Promotion
B. Focus Group Discussion D. Data Collection
15. It is a promotional method that involves presenting information
3. It is the most common way to gather primary research with the use about your company, product, or service to your target customer
of questionnaires or interview schedule. These can be done via direct without the use of an advertising middleman.
mail, over the phone, internet (e.g. Google) or email, face-to-face or on A. Special Pricing C. Direct Marketing
the Web (e.g. Skype or Viber). B. Customer Contests D. Free Samples
A. Personal Interview C. Survey
B. Focus Group Discussion D. Data Collection 16. It refers to a process used by marketers to create an image in the
minds of a target market.
4. It is one of the most reliable and credible ways of getting relevant A. Positioning C. Promotion
information from target customers. It is typically done in person B. People D. Price
between the researcher/entrepreneur and a respondent where the
researcher asks pertinent questions that will give significant pieces of 17. It is a strategy to distinguish products and companies and to build
information about the problem that he will solve. economic value to both customers and to brand owners.
A. Interview C. Survey A. Marketing C. Brand name
B. Focus Group Discussion D. Data Gathering B. Branding D. Advertising

5. It refers to a type of focus group discussion where it obtains 18. The following are interpretations of the word Brand except
information on general attitudes, understands the circumstances A. A legal instrument C. A logo
under which customers might require your product or service, and B. A business D. A vision
understand their desired outcomes.
A. trend explanation C. feature prioritization 19. The following are variables to consider in behavioral segmentation,
B. exploratory D. comparative analysis except.
A. perception C. reaction
6. It is a type of FGD where customers go to get similar information, B. brand concept D. benefits
services or products and what attracts them to those resources.
A. trend explanation C. feature prioritization 20. Select the best definition of Product.
B. exploratory D. comparative analysis 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.
7. It is a type of discussions in FGD if trade-offs have to be made B. A product is an item that is built or produced primarily to
among various customer needs. gain profit; it can be intangible or tangible.
A. trend explanation C. feature prioritization C. A product is an item that is built or produced to compete in
B. exploratory D. comparative analysis the world of business; it can be intangible or tangible.
D. None of the above
8. It is an excellent method for generating and screening ideas and
concepts. It can be moderated group interviews and brainstorming 21. Choose the best statement that applies to Consumer Goods.
sessions that provide information on user’s needs and behaviors. A. A buyer of consumer goods must have complete
A. Data Gathering C. Focus Group Discussion knowledge of the goods he buys and uses.
B. Survey D. Personal Interview B. A buyer of consumer goods may not have thorough
knowledge of the goods he buys and uses.
9. It is a set of controllable and interrelated variables composed of C. The market for consumer goods is affected by
product, place, price and promotions that a company assembles to technological changes.
satisfy a target group better than its competitor. D. After-sale service is of paramount importance in the case
A. Price C. Product of all consumer goods.
B. Marketing Mix D. Packaging
22. What factors would change in the distribution channel if there will
10. It refers to any goods or services that is produced to meet the be no Intermediary like producer and consumer?
consumers’ wants, tastes and preferences. Examples of goods include A. The company will utilize technology to reach the
tires, MP3 players, clothing and etc.. customers.
A. Price C. Product B. Direct-marketing will take place since it has no
B. Marketing Mix D. Packaging intermediary levels. In this case the manufacturer sells directly to
customers.
11. A marketing model that modifies the 4Ps model. C. Nothing will take place since it has no intermediary levels.
A. Packaging C. Marketing Mix In this case the manufacturer cannot sell to customers.
B. 7 P’s Model D. People D. All of the above

12. It is the value of money in exchange for a product or service 23. How can you define your business's purpose?
A. Price C. Product A. Purpose can be defined in two ways: Functional which
B. Place D. Packaging 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.
1
 B. Purpose can be defined in two ways: National which
focuses on the evaluations of success within the country for 36.It refers to the process or technique of converting raw materials to
commercial reasons and International which focuses on success as it finished products.
relates to other countries to make money and do well in the world. A. Machine C. Method
C. All of the above B. Manpower D. Materials
D. None of the above
37. It simply refers to the raw materials needed in the production of a
24. How would you promote a product? product.
A. By offering Post cards, Coupons, Email, Phone calls, Text A. Machine C. Method
messages. B. Manpower D. Materials
B. By offering Free Gifts, Free Samples, Free Trial, Customer
Contests, Special Pricing 38. Which of the statement/s is/are correct?
C. By offering Brochure, Catalogues, Fliers, Newsletters Statement I - Skills and expertise are not important in considering
D. None of the above manpower.
Statement II - Benefits are the reasons why customers will decide
25. What is the advantage of Penetration Pricing? to buy the products.
A. A firm can create the perception that the products must
have a higher value than competing products because the prices are A. Only Statement I is true.
higher. B. Only Statement II is true.
B. A firm has three options, and these are to price lower, C. Both Statements are true.
price the same or price higher than competitors. D. Both Statements are false.
C. The company earns more through cross-selling products
along with a basic core product. 39. Which of the statement/s is/are correct?
D. The company will gain market share because the price Statement I - Educational qualifications and experience is
charged for products and services is set artificially low. one of the criteria in considering manpower.
Statement II - Product to produce is one of the factors to be
26. Which of the following refers to the human workforce involved in considered in method or production method.
the manufacture of products?
A. Materials C. Machine A. Only Statement I is true.
B. Method D. Manpower B. Only Statement II is true.
C. Both Statements are true.
27. The 4M’s of production are as follows except ONE. Which one is it? D. Both Statements are false.
A. Management C. Method
B. Manpower D. Machine 40. Which of the statement/s is/are correct?
Statement I - In selecting the type of equipment to purchase,
28. Which of the following refers to the marketing copy that explains the entrepreneur may consider cost and capacity of the
what a product is and why it is worth purchasing? equipment.
A. Prototype C. Business Model Statement II - The purpose of a product description is to
B. Product description D. Suppliers supply customers through details around the features and
benefits of the product.
29. It represents the final products from the production process and
distributed to the customers. A. Only Statement I is true.
A. Input C. Output B. Only Statement II is true.
B. Supplies D. Materials C. Both Statements are true.
D. Both Statements are false.
30. It is a replica of a product.
A. Prototype C. Business Model === END ===
B. Product description D. Suppliers
Prepared by:
31. Which of the following refers to the system of organizations, Eva M. Odio
people, activities, information, and resources involved in moving a Subject Teacher
product or service from supplier to customer?
A. Supply Chain C. Business model
B. Value Chain D. Prototype

32. Which of the following is the process or activities by which a

company adds value to an article, including production, marketing, and
the provision of after sales service?
A. Supply Chain C. Business Model
B. Value Chain D. Prototype

33. It describes the rationale of how an organization creates, delivers,

and captures value in economic, social, cultural or other contexts.
A. Prototype C. Business Model
B. Product description D. Suppliers

34. It is an entity that supplies goods and services to another

organization.
A. Prototype C. Business Model
B. Product Description D. Suppliers

35.Which of the following refers to the manufacturing equipment used

in the production of goods or delivery of services?
A. Machine C. Method
B. Manpower D. Materials