Notesale: Turn your study into money

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ENTREPRENEURSHIP PRACTICE EXAM
GENERAL INSTRUCTIONS: Choose the correct answer that corresponds to each question
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What is Unique Selling Proposition (USP)? USP is a/an __________________
A
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B
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C
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D
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2
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subset of the total market
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group of people who is subjected to buy a product or services
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boudaries of specific focus on which brands or products compete for a specific market
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group of customers within a business’s serviceable available market at which a
business aims its marketing efforts and resources
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What is Market size? Market Size is a/an/the _____________
A
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B
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C
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D
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4
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Consumer expectation
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need that consumer claim
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specification that originates from customers
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requirements that company recognizes for customers
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What is survey? Survey is a __________
A
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B
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C
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D
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tool best for qualitative research
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technique to ask people about certain concerns of the industry
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good way to gather people from similar backgrounds or experiences to discuss a
specific topic or interest
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research Tool based on a set of questions or discussion points which include visual
concept and product samples for trial to validate customer related concern
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What is In-depth Interview? In-depth interview is a/an _____________________
A
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B
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C
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D
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8
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set of tactics to promote service or product in the market
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strategies intend to attract customers to buy products or services
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technique that make customers to purchase products and services
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mix strategies to influence costumers to purchase products and services
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What is a brand name? A brand name means a ___________
A
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B
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C
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D
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10
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way of doing things in the operational system
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four operational aspect of improving the operational system
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four processes to be followed to oversee the operational system
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concept of operation based on opportunities to improve the system
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What is a business Model? A business model is a _________
A
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B
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C
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D
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educated prediction for the upcoming year
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estimate of the costs and where is should be spend
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assumption about how money can be out into good use
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calculation of the amount of money at a particular period of time
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What is forecast cost? A forecast cost is a/an ____________
A
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B
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C
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D
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14
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the surplus left from revenue after paying all costs
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referred to as the bottom line, net profit, or net earnings
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the income that a business has from its normal business transactions
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positve gain number of goods or services sold in a given targetted time period
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What is variable cost? Variable cost is ________________
A
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B
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C
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D
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16
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Refers to the direct costs of producing the goods sold by a company
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a corporate expense that changes in proportion to production output
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an expense that do not change as a function of the activity of a business
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the total cost of producing and distributing of products and services of a company
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What is a 5yr financial plan? A 5yr financial plan is a/any _____________
A
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B
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C
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D
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18
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a product that has distinguishing marks
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A specific name that names a product from others
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an intellectual property right that identifies a product
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any symbol that would differentiate a product from its competitors
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Which of the following statements suggest Manpower for operations in relation to the business
opportunity? D
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Management of variable costs as stipulated in the financial statements
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Management of
implementing rules and regulations (IRR) that sets standard operting procedure (SOP)
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Management of devices for specific activity that aid ease in the performance of duties and
responsibilities
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Management of the holistic wellbeing of the organization’s workforce
through Teambuilding, Trainings and seminars, advance education, Incentives etc
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Which of the following statements suggest Methods for operations in relation to the business
opportunity? B
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Management of variable costs as stipulated in the financial statements
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Management of implementing rules and regulations (IRR) that sets standard
operting procedure (SOP)
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Management of devices for specific activity that aid ease in the performance of duties and
responsibilities
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Management of the holistic wellbeing of the organization’s workforce
through Teambuilding, Trainings and seminars, advance education, Incentives etc
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Which of the following statements suggest Machine for operations in relation to the business
opportunity? C
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Management of variable costs as stipulated in the financial statements
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Management of
implementing rules and regulations (IRR) that sets standard operting procedure (SOP)
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Management of devices for specific activity that aid ease in the performance of duties and
responsibilities
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Management of the holistic wellbeing of the organization’s workforce through Teambuilding,
Trainings and seminars, advance education, Incentives etc
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Which of the following statements suggest Materials for operations in relation to the business
opportunity? A
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Management of variable costs as stipulated in the financial statements
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Management of
implementing rules and regulations (IRR) that sets standard operting procedure (SOP)
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Management of devices for specific activity that aid ease in the performance of duties and
responsibilities
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Management of the holistic wellbeing of the organization’s workforce
through Teambuilding, Trainings and seminars, advance education, Incentives etc
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Which of the following statements suggest Market size in determining consumer behaviour and
customer demographics? B
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This refers to the industry of potential buyers and sellers
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This refers to the total amount of sales in a given industry over a given period of time
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This
refers to the identifying needs and wants of the industry through FGD, INTERVIEW and or
SURVEYS
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This refers to the total number of buyers and sellers in a given industry for specific
brand, product or service
24
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A
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B
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C
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D
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Which of the following statements suggest target market in determining
cosumer behaviour and customer demographics? D
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This refers to the industry of potential buyers and sellers
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This refers to the total amount of sales in a given industry over a given period of time
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This refers
to the identifying needs and wants of the industry through FGD, INTERVIEW and or SURVEYS
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This refers to the total number of buyers and sellers in a given industry for specific brand, product
or service
26
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Another term for Unique selling point
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An marketing effort to establlish identity of a brand, product or service
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A marketing campaign that encourages consumers to switch products
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A marketing concept proposed as a theory to explain a pattern in successful advertising campaign
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Which of the following statement is NOT value propositions? VP is not ____________
A
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B
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C
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D
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28
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predetermined semi-structured interview led by a skilled moderator
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marketing activity from a marketing company that provides validation of
customer requirements
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form of qualitative research that cutomer perception, attitude, belief, opinion and ideas for the
intended product or services
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gathering of people from similar backgrounds, or experiences together to discuss a specific topic of
interest about a product or service
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Which of the following statement is NOT an interview that validates customer
related concern? Interview is not to __________________
A
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B
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C
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D
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30
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that focuses on turning objectives to great questions
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to understand if its core offering is priced appropriately
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that provides strategic planning for future product and services
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that finds out which types of customers are most likely to purchase or avail products or services
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Which of the following is NOT a concept in BRANDNAME? Brandname is not a _______
A
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B
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C
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D
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32
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of actively shaping a company’s product and or service
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to identify a product and distinguish it from other products and services
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Promotion of a particular product or company by means of advetising and distinctive design
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Where a company creates a name, symbol or design that is easily identifiable as belonging to the
company
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Which of the following statement is NOT a concept of the 7Ps of Marketing? 7Ps is
not __________
A
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B
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C
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D
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foundation model that centered around product, price, place, promotion
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set of marketing tools to pursue its marketing objectives in the target market
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used to continually evaluate and reevaluate business actviities on products and service offering
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crucial tool to help understand product and service can offer and how to plan for sucessful product
offering
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Which of the following statement is NOT a concept of business model ? Business Model
is not a ___________
A
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B
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C
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D
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36
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test, implement and monitor process established of the company
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define goals, plan and map the intended process of the company
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set actions and assign stakeholders to establish process of the company
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repeat the process once an establish process was made as it will be maintained as it is
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Choose the appropriate answer from the box
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Feedbacking B
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Planning D
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developing product/service description of the business concept for the Strand Business
Summit
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38
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D
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In the industry, validate the service description of the product with potential customers
to determine its market acceptability while in SBS, it is inform and as ask guidance from
your subject teachers on what service/product to choose in order to utilize your skills
and knowledge
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40
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C
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In the industry, discuss the value/supply chain in relation to the business enterprise, in
SBS it is to determine the learned skills to execute and utilize business implementation
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42
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D
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Collaboration with non-business strand to establish products and or service to be
offered during SBS business implementation
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44
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B
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Utilizing skills and knowledge as prototypes for products and or services to be
offered during the strand business summit
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For Numbers 46-54, Peruse (read and understand carefully) each sentence
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46
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B
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A 5yr financial plan is the same as the 3yr financial plan in terms of purpose
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48
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A
49
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A
50
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A
51
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A
52
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A
53
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B
54
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B



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