Ilog Catholic High School, Inc.

Burgos St., Brgy. I, Ilog, Negros Occidental

6109 Philippines
ichs1960@yahoo.com

ENTREPRENEURSHIP FINAL EXAMINATION

NAME:________________________________________ GRADE & SEC.:_______________ DATE:__________

I. DIRECTIONS: Read and analyze each statement below. Choose the letter of the correct answer from the
choices. ENCIRCLE the letter of your choice.

1. Why do entrepreneurs need to use a unique selling proposition?

a) To increase production efficiency c) To reduce marketing costs
b) To focus on customer needs and stand out from d) To comply with industry standards
competitors
2. What is the purpose of having a unique selling proposition?
a) To confuse customers with too many options
b) To make the product more expensive
c) To sympathize with customer needs and motivate them to buy
d) To copy competitors' strategies
3. Which of the following is NOT a purpose of having a unique selling proposition?
a) Sympathizing with customer needs c) Uncovering the real reason why the customer buys
b) Motivating the customer the product
d) Promoting unrelated products
4. What advantage does a clear differentiation provide to a business?
a) Decreased revenue c) Improved revenue and customer retention
b) Reduced customer loyalty d) Increased competition
5. How does a unique selling proposition contribute to simpler selling?
a) By making the product more complex
b) By confusing customers
c) By enabling sales representatives to discuss product value more easily
d) By increasing prices
6. What is an essential step in writing a unique selling proposition?
a) Ignoring customer feedback c) Identifying the target audience’s problem
b) Skipping the planning process d) Focusing solely on the product's features
7. Why is crafting a good unique selling proposition important?
a) It has no impact on customer behavior c) It complicates the sales process
b) It helps businesses stand out and attract customers d) It increases production costs
8. Which of the following is NOT a step in the Value Proposition Builder Model?
a) Market analysis c) Proof of credibility
b) Identifying alternative options d) Reducing customer engagement
9. Is a value proposition required in all products and services?
a) No, it's optional c) Only for luxury products
b) Yes, it's essential for effective marketing d) Only for products with low competition
10. What is the purpose of the Value Life Cycle?
a) To confuse customers with product variations c) To capture the stages of value perceived by
b) To extend the lifespan of a product customers
d) To eliminate competition
11. What is the primary goal of a unique selling proposition?
a) To confuse customers c) To highlight distinct product features and stand out
b) To increase production costs from competitors
d) To copy competitors' strategies
12. Which of the following is NOT an advantage of having a unique selling proposition?
a) Increased customer loyalty c) Reduced revenue
b) Simplified selling process d) Improved differentiation from competitors
13. What role does customer feedback play in crafting a unique selling proposition?
a) It is unnecessary c) It complicates the planning process
b) It helps in identifying the target audience’s problem d) It has no impact on the final proposition
14. How does a value proposition differ from a unique selling proposition?
a) They are identical
b) A value proposition focuses on the benefits to the customer, while a unique selling proposition emphasizes product
differentiation
c) A value proposition targets competitors, while a unique selling proposition targets customers
d) A value proposition is irrelevant in marketing
15. What is the main purpose of the Value Proposition Builder Model?
a) To confuse entrepreneurs c) To identify the target market and understand
b) To simplify the sales process customer needs
d) To increase production costs
16. Which stage of the value life cycle involves customers experiencing the value of the product by using
it?
a) Value Creation c) Value Consumption
b) Value Appropriation d) Value Renewal
17. How does a value proposition contribute to customer engagement?
a) By creating confusion c) By providing a clear direction and understanding of
b) By ignoring customer needs the business's value to customers
d) By decreasing brand awareness
18. Which of the following is NOT an advantage of identifying the value proposition of a business?
a) Creating confusion c) Breeding confidence
b) Providing a clear direction d) Focusing on clarity of value
19. What is the main goal of the unique selling proposition?
a) To make the product more expensive c) To stand out and attract customers
b) To blend in with competitors d) To reduce customer loyalty
20. In the context of a unique selling proposition, what does it mean to "sympathize with customer
needs"?
a) To ignore customer feedback c) To copy competitors' strategies
b) To prioritize customer satisfaction and understand d) To focus solely on product features without
their needs considering customer preferences

II. DIRECTIONS: Read and analyse each statement. Write TRUE if the statement is correct and FALSE if otherwise.

_________1. A unique selling proposition (USP) focuses on special features of a product or service to differentiate it from
competitors.
_________2. Domino’s Pizza offers a unique selling proposition where customers get fresh, hot pizza delivered to their
door in 30 minutes or less or it’s free.
_________3. M&Ms' unique selling proposition is "The milk chocolate melts in your mouth, not in your hand."
_________4. A unique selling proposition describes only the features of the product or service that are different from
others.
_________5. A clear differentiation provided by a unique selling proposition can lead to improved revenue and customer
loyalty.
_________6. Loyal customers tend to repeat purchases and are less likely to be influenced by competitors.
_________7. A good unique selling proposition allows sales representatives to discuss the value and benefits of the
product more easily.
_________8. Crafting a good unique selling proposition is important because it helps businesses stand out and attract
customers.
_________9. A value proposition is a statement indicating the worth that the business offers to customers.
_________10. Walmart's value proposition is "Save money, Live better."
_________11. The Value Proposition Builder Model includes steps such as market analysis, identifying offerings, and
assessing benefits.
_________12. The value proposition builder model consists of five steps.
_________13. Value creation is the stage in the value life cycle where customers see and feel the value of the product by
using it.
_________14. Value appropriation involves enhancing, innovating, and facilitating customer buying experience.
_________15. The value proposition must be studied throughout the entire life cycle of value perceived by customers.

“Embrace the challenge, for within it lies the opportunity to showcase your knowledge and potential. Stay focused, stay
determined, and success will surely follow.”

~sir D~