Department of Education - Region X

Division of Misamis Oriental

DISTRICT OF LAGONGLONG

ENTREPRENEURSHIP
2nd Semester- 3RD Quarter Exam

Name: ___________________________________________Score: ________ Rating: __________

Grade and Section: ________________________Date: __________ Parents Signature: _______

Direction: Write only the letter of the correct answer on the space provided before the
number.
_____1. Which of the following is NOT an essential characteristic of an entrepreneur?
A) Risk-taker B) Persistent C) Procrastinator D) Innovative

_____2. What is the main purpose of a business plan?

A) To attract investors C) To provide a roadmap for the
business
B) To secure a loan D) To establish a company culture

_____3. What is the definition of entrepreneurship?

A) Starting a business C) Taking risks and creating new
ventures
B) Running a business D) Investing in established companies

_____4. What is a common reason for entrepreneurship failure?

A) Lack of funding C) Underestimating competition
B) Overestimating demand D) All of the above

_____5. What is the primary goal of entrepreneurship?

A) To make money C) To establish a brand
B) To create social change D) To compete with established
companies

_____6. What is a market?

A) A physical location where goods are sold
B) A group of people or organizations that have a need or desire for a product or
service and are willing to pay for it
C) A type of advertising
D) A method of product development

_____7. What is a target market?

A) A market that has already been saturated with a product or service
B) A market that is not interested in a particular product or service
C) A specific group of people or organizations that a business aims to sell its products
or services to
D) A market that is too small to be profitable

_____8. What is market segmentation?

A) The process of identifying a target market
B) The process of dividing a larger market into smaller groups of consumers with
similar needs or characteristics
C) The process of marketing a product or service
D) The process of manufacturing a product
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 _____9. What is the difference between primary and secondary market research?
A) Primary research is more expensive than secondary research
B) Primary research involves gathering new data while secondary research uses
existing data
C) Secondary research is more accurate than primary research
D) There is no difference

_____10. What is the purpose of conducting a SWOT analysis?

A) To identify strengths, weaknesses, opportunities, and threats in a business or
market
B) To create a marketing plan
C) To identify potential customers
D) To secure funding for the business

_____11. What are the 7 P's of marketing?

A) Price, Product, Promotion, People, Place, Physical Evidence, Packaging
B) Product, Place, Promotion, Price, People, Performance, Packaging
C) Price, Product, Place, Promotion, People, Positioning, Packaging
D) Product, Price, Promotion, Place, People, Positioning, Packaging

_____12. What is the purpose of the "Product" element of the marketing mix?
A) To determine the price of the product
B) To design and develop the product to meet the needs of the target market
C) To decide on the best promotional strategy for the product
D) To select the best distribution channels for the product

_____13. What is the purpose of the "Price" element of the marketing mix?
A) To design and develop the product to meet the needs of the target market
B) To decide on the best promotional strategy for the product
C) To select the best distribution channels for the product
D) To determine the amount that customers are willing to pay for the product

_____14. What is the purpose of the "Place" element of the marketing mix?
A) To determine the price of the product
B) To design and develop the product to meet the needs of the target market
C) To decide on the best promotional strategy for the product
D) To select the best distribution channels for the product

_____15. How is branding defined?

A) The process of creating a name, symbol, or design that identifies and differentiates
a product from other products
B) The process of promoting a product through advertising
C) The process of setting the price of a product
D) The process of designing and developing a product to meet the needs of the target
market
_____16. What is the difference between a business owner and an entrepreneur?
A) A business owner only manages an existing business while an entrepreneur starts
a new venture
B) A business owner only focuses on profits while an entrepreneur focuses on social
change
C) A business owner only employs others while an entrepreneur works alone
D) There is no difference

_____17. Which of the following shows the importance of market research in

entrepreneurship?
A) To identify potential customers and their needs
B) To secure funding for the business
C) To establish a company culture
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 D) To attract investors

_____18. How do you describe a business model?

A) A plan for the physical layout of a business
B) A description of how a business creates, delivers, and captures value
C) A tool for managing financial resources
D) A legal document for registering a business

_____19. What is the difference between a product and a service?

A) A product is tangible while a service is intangible
B) A product is intangible while a service is tangible
C) There is no difference
D) A product is only sold online while a service is sold in person

_____20. What is the importance of networking in entrepreneurship?

A) To establish a company culture C) To secure funding for the
business
B) To find potential customers and partners D) To create a marketing plan

_____21. How does the "Promotion" element of the marketing mix help businesses?
A) By creating new products to meet the needs of customers
B) By selecting the best distribution channels for the product
C) By communicating the value of the product to potential customers through
advertising and other methods
D) By setting the price of the product
_____22. How does the "Positioning" element of the marketing mix relate to branding?
A) Positioning refers to the physical placement of products in stores
B) Positioning refers to the way a company's products are perceived by customers in
relation to its competitors, which is an important aspect of branding
C) Positioning refers to the process of designing and developing a product to meet the
needs of the target market
D) Positioning refers to the amount that customers are willing to pay for a product

_____23. What is the purpose of the "People" element of the marketing mix?
A) To determine the price of the product
B) To design and develop the product to meet the needs of the target market
C) To decide on the best promotional strategy for the product
D) To ensure that the right people are delivering the product or service to customers

_____24. What is the purpose of the "Packaging" element of the marketing mix?
A) To determine the price of the product
B) To design and develop the product to meet the needs of the target market
C) To decide on the best promotional strategy for the product
D) To protect the product during transportation and storage, and to make it more
attractive to customers

_____25. What is the difference between a product and a brand?

A) A product is a physical item that is sold, while a brand is a name or symbol that
represents a product or company
B) A product is a service that is sold, while a brand is a physical item
C) A product is a name or symbol that represents a company, while a brand is a
physical item
D) There is no difference between a product and a brand

_____26. How can an entrepreneur apply the concept of "minimum viable product"
(MVP)?
A) By launching a product with all the features and capabilities that the
entrepreneur wants
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 B) By launching a product with only the essential features and capabilities, and
improving it based on customer feedback
C) By launching a product that is not fully developed, and relying on customers to
help develop it
D) By launching a product that is a copy of an existing successful product

_____27. How can a company use market segmentation to apply their understanding of
the market?
A) By creating a product that appeals to a broad range of customers
B) By offering different versions of a product to meet the needs of different customer
segments
C) By selling their product in as many distribution channels as possible
D) By setting a high price for their product to attract a higher-end customer

_____28. How can a company apply their understanding of the market to their marketing
mix?
A) By designing a product that is cheap to produce and sell
B) By selecting a distribution channel that is convenient for the company
C) By setting a price that is higher than the competition to increase profits
D) By tailoring their product, price, promotion, and distribution to meet the needs of
their target market

_____29. How can a company apply their understanding of the market to their pricing
strategy?
A) By setting a low price to increase sales volume
B) By setting a high price to make the product seem more valuable
C) By setting a price that is in line with the competition
D) By setting a price that reflects the value that the product provides to the target
market

_____30. How can a company apply their understanding of the market to their promotion
strategy?
A) By using a broad range of promotion tactics to reach as many customers as
possible
B) By creating a message that appeals to everyone
C) By using promotion tactics that are most likely to reach their target market
D) By creating a message that focuses on the product's features rather than benefits

_____31. How can a company apply the results of their market research to their product
development?
A) By creating a product that meets the needs and wants of their target market
B) By focusing solely on the features of the product rather than the benefits
C) By creating a product that is innovative and groundbreaking regardless of
customer needs
D) By creating a product that is expensive to produce to generate high profits

_____32. How can a company apply the results of their market research to their
marketing strategy?
A) By using a one-size-fits-all marketing approach to reach as many customers as
possible
B) By creating a message that appeals to everyone regardless of their needs and
wants
C) By tailoring their marketing message and tactics to their target market
D) By focusing on promotion tactics that are not likely to reach their target market

_____33. How would you promote a product?

A) By offering Free Gifts, Free Samples, Free Trial, Customer Contest, Special Pricing
B) By offering Brochure, Catalogues, Fliers, Newsletters
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 C) By offering Post cards, Coupons, Email, Phone calls, Text messages
D) None of the above

_____34. How can a company apply their understanding of the market to their product
design?
A) By creating a product that is similar to the competition to avoid risk
B) By designing a product that is aesthetically pleasing but not necessarily functional
C) By incorporating features and benefits that are important to their target market
D) By designing a product that is expensive to produce but will generate high profits

_____35. What is the main purpose of analyzing data collected from market research?
A) To create a marketing campaign
B) To develop a product
C) To identify and understand customer needs and preferences
D) To increase sales revenue

_____36. Which of the following type of data can be analyzed from market research?
A) Demographic data C) Psychographic data
B) Sales data D) All of the above

_____37. How can a company use the results of their market research to gain a
competitive advantage?
A) By ignoring the results and following their own instincts
B) By creating a product that is similar to competitors
C) By creating a unique product that meets the needs of the target market
D) By setting a higher price than competitors

_____38. What are some limitations of market research?

A) Limited sample size C) Bias in data collection
B) Inaccurate data D) All of the above

_____39. What is the main purpose of market segmentation?

A) To identify and understand customer needs and preferences C) To create a
marketing campaign
B) To increase sales revenue D) To develop a
product

_____40. What is the main benefit of analyzing competitors?

A) To copy their products and services C) To identify market trends
B) To learn from their mistakes D) To gain a competitive advantage

_____41. Do you agree with the following statement in creating VP (Value Proposition)?
Statement A: In creating Value Proposition, entrepreneurs will consider the basic
elements:
Target Customer, Needs/opportunity, Name of the product, Name of the
enterprise/company.

Statement B: In creating Value Proposition, entrepreneurs will consider the basic

elements:
Target Supplier, Needs/opportunity, Name of the product, Name of the
enterprise/company.

A) Agree both statements C) Agree with statement A

B) None of the statements D) Agree with statement B

_____42. Do you agree that Unique Value Proposition and Value Proposition are two
most famous tools
used to explain why prospect customers buy each product and services?
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 A) No, for they are different. C) No, they are not related with
each other
B) Yes, of course. D) None of the above
_____43. Which is the best example of promotion using Value Proposition and Unique
Selling proposition?
A) with the slogan “Langhap Sarap” C) Multinational Business
B) Ordinary Sari-sari store D) Fruit Shake Stand

_____44. What different data collection techniques you will used in doing Market
Research?
1- Survey 3- Focus Group Discussion
2- Interview 4- Hearsays

A) 1-2-3-4 B) 1-2-3 C) 1-2-4 D) 1-2

_____45. How would you evaluate a Focus Group Discussion (FGD)?

Statement A: is an excellent method for generating and screening ideas and
concepts.
Statement B: it can be a moderated group interviews and brainstorming sessions
that provide information on user’s needs and behaviors.
A) Both statements are incorrect C) Only statement A is correct
B) Both statements are correct D) Only statement B is correct

_____46. Can you design a product which is in demand in our market today?
Statement A: Yes, because I already learn how to do it from my entrepreneurship
subject.
Statement B: No, for it is so hard nowadays to start a business.
A) Both statements are incorrect C) Only statement A is correct
B) Both statements are correct D) Only statement B is correct

_____47. What is/are the possible solution/s to this bad logo design?
Statement A: the color
Statement B: add the brand name.
A) Both statements are incorrect C) Only statement A is correct
B) Both statements are correct D) Only statement B is correct https://
www.logodesig

_____48. What possible tagline you can make out of this picture?
Statement A: “Hot yummy Chicken, taste like no other”
Statement B: “Manok na mas pinasarap, anghang malalasap”
A) Both statements are incorrect
B) Both statements are correct
C) Only statement A is correct
D) Only statement B is correct https://www.pngegg.com/en/search?
q=spicy+chicken

_____49. What is/are the marketing mix/mixes for the products?

Statement A: product, price, and place
Statement B: product, price, place, and promotion
Statement C: product, price, place, promotion, people, packaging, and
positioning
A) All statements are incorrect
B) Only statement A is correct
C) Only statement B is correct
D) Only statement C is correct

_____50. What are the ways to define your business’ purpose?

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 Statement A: Functional. This way focuses on the assessments of success in
terms of fast
and profitable reasons. For example, the purpose of the business is
to make money.
Statement B: Intentional. This way focuses on fulfillment as it relates to the
capability to
generate money and do well in the world.
Statement C: Competitional. This way focuses on the competitors’ strategies on
product, price, place, promotion, people, packaging, and
positioning.

A) All statements are incorrect C) Statement B & C are correct

B) Statement A & B are correct D) All statements are correct.

Prepared by:

MARGARETH B. DAMING
Teacher II / Lagonglong SHS
Noted by:

LIEZEL P. CAJES
School Head / Lagonglong SHS
Approved by:

EMERE C. JENISAN, PhD

PSDS - PSDIC

“Be Honest even if others are cannot, will not, and could not!”

Answer key: 3rd Quarter Entrepreneurship

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