MANJUYOD NATIONAL HIGH SCHOOL

Manjuyod, Negros Oriental

ENREPRENEURSHIP
First Quarter PRE- TEST

MULTIPLE CHOICE: Write only the CAPITAL LETTER of the correct answer on your answer sheet.
1. What type of market consists of a defined group most likely to buy a company's products or services?
A. Focus group C. Target market
B. Objective market D. Concentration zone
2. What is included in promotional strategies?
A. Advertising, marketing, and sales.
B. Personal selling, advertising, sales promotion, and public relations.
C. Personal selling, advertising, pricing, and distribution.
D. Advertising, social media networking, pricing, and promotional ads.
3. The Footwear Group comes together in a meeting to discuss possible opportunities for the company. They allow multiple
people to brainstorm and come up with new types of shoes. Which stage of the development process did The Footwear Group
Utilize?
A. Market strategy C. Product launch
B. Idea generation D. Product development
4. A local pizza restaurant decides to send flyers and menus to only people within their town, and the next town over. Which type
of market segmentation did the pizza restaurant use?
A. Benefits sought C. Psychographic
B. Geographic D. Demographic
5. What internet sales mechanism has opened up great potential for foreign trade?
A. over internet C. E-commerce
B. Social media D. Digital contract
6. What part of the corn chip marketing mix will most likely be affected if there is a worldwide corn plague?
A. Place C. Promotion
B. Product D. Price
7. When a company offers new products and provides new channels of communication to prospective customers this is _____.
A. Foreign competition C. Sales
B. A market strategy D. Public relations
8. When a store offers different types of service combinations it is an example of _____.
A. A price strategy for services C. A promotion strategy for services
B. A product strategy for services D. A place strategy for services
9. It is the simplest and most common structure chosen to start a business. It is an unincorporated business owned and run by
one individual with no distinction between the business and you, the owner. You are entitled to all profits and are responsible
for all your business's debts, losses and liabilities.
A. Partnership C. Sole Proprietorship
B. Limited Liability Company D. Corporation
10. An independent legal entity owned by shareholders. This means that this business structure itself, not the shareholders that
own it, is held legally liable for the actions and debts the business incurs.
A. Partnership C. Sole Proprietorship
B. Limited Liability Company D. Corporation
11. An organization structure lays the foundation of how a company ________.
A. Operates C. makes decisions
B. implements decisions D. All answers are correct
12. The stockholder may read only the executive summary of business plan to decide about the investment on that business.
A. True B. False
13. ___________ in a business plan shows the estimated profit and expenses of venture.
A. Marketing Strategy C. Sales Strategy
B. Executive Summary D. Financial Plan and Projections
14. It defines what the company does for its customers, employees and its owners.
A. Mission C. Vision
B. Goals D. Objectives
15. It includes the description of ideal client/customers including demographics, the size of the customers, how you intend to reach
the market , evaluation of your competitors, highlighting their strengths and weaknesses.
A. Market Analysis C. Company Description
B. Executive Summary D. Vision and Goals
16. Financial plan includes three major views of your financials except____________.
A. income statement C. balance sheet
B. cash-flow statement D. revenues
17. This section sets up the hierarchy of the people involved in your business. It's often set up in a chart form.
A. Organizational Structure C. Management Team
B. Management Summary D. Organization and Management Team
18. It is a process of making new products which will be sold to the customers.
A. product analysis C. product development
B. product conceptualization D. product implementation
19. These are luxuries, advantages and desires that every individual considers beyond necessary.
A. wants C. requirements
B. desires D. needs
20. It is a factor or consideration presented by a seller as the reason that a product or service is different from and better than that
of the competition.
A. unique selling plan C. unique pricing policy
B. unique selling proposition D. finding value-added
21. It is a managerial tool used to assess the environment and to gather important information that can be used for strategic
planning.
A. scanning C. WOTS Analysis
B. SWOT Analysis D. survey analysis
22. Which of the following sentences does not refer to entrepreneurship?
A. An
 economic
 term
 describing
 the
 process
 of
 bearing
 the
 risk
 of
 buying
 at
 certain
 prices
 and
selling

at
 uncertain
 prices.”

B. “The
 concept 
of
 bringing
 together
 the
 factors
 of
 production”.
C. “Are high-energy creative people, who are self-confident, have high levels of self-esteem and are futuristic in their
outlook as they seek to incessantly solve problems, take risks, and learn from failures.”
D. “A 
process
involving
innovation:
bringing
market
innovation,product
innovation,
factor
innovation,
 and
even

organizational
innovation
to
the
world
of
business.”
23. It is the ability of a good entrepreneur to negotiate or persuade customers, employees, potential lenders, banks, partners,
suppliers to cooperate.
A. Persuasive C. hard working
B. Risk taking D. Disciplined
24. The criteria that a person must possess like knowledge, skill, attitude, and values to do his/her work.
A. Efficiency standards C. Personal standards
B. Competency standards D. none of the above
25. What
are
some
of
the
strongest
reasons
why business people have to create a business plan?
A. It identifies one’s goals, help allocate resources properly, handle unforeseen complications, and make the right
decisions.
B. It lays out what the business will produce and explains how it will be produced and who will be the consumers of the
product/service the business is producing.
C. It addresses who will operate the business and who will supply the products/services required to run the business.
D. All of the above
26. The following are three
primary
 purposes of a business plan EXCEPT:
A. It serves 
as
 an
 Action
 Plan. C. It serves as Marketing Plan.
B. It
 serves
 as
 a
 Road
 Map. D. It
 serves
as
 a
 Sales
 Tool.
27. It is important to identify the market problems before starting up a business. Which of the following statements below is not
part of the steps to be used in identifying market problems?
A. Determine if the market problem is urgent.
B. Know if the market problem is pervasive.
C. Recognize if the government is willing to pay to have the problem solved.
D. Identify if somebody is solving the problem.
28. Which of the following ways in analyzing market problems gathers data by observing and recording the respondents’ actions in
an activity?
A. Observations C. Surveys
B. Interviews D. Experiments
29. One has to determine solutions in terms of products and services that will meet the need using the different techniques below
EXCEPT
A. opportunity seeking C. opportunity seeing
B. opportunity screening D. opportunity seizing
30. In opportunity screening, new opportunities are screened, tested and analyzed for its potential to become
A. Viable C. Sustainable
B. Feasible D. All of the above
31. First stage of an effective product development process that needs entrepreneurs to capture new ideas.
A. Strategic Analysis C. Concept definition
B. Idea distillation D. Idea generation
32. Screening out ideas not worth taking forward is the second stage of effective product development process known as
A. Strategic Analysis C. Product launch
B. Idea distillation D. Idea generation
33. The last stage of an effective product development process is known as
A. Idea distillation C. Concept definition
B. Product launch D. Idea generation
34. It is during this stage of effective product development process where designing of the new product occurs.
A. Idea distillation C. Concept definition
B. Product launch D. Idea generation
35. Proposed solutions are screened based on the following criteria EXCEPT
A. Marketability C. Profitability
B. Viability D. Costumer requirements
36. It is creating names, symbol, or designs that identifies and differentiates a product from the other products.
A. A product naming C. branding
B. unique selling proposition D. tagline
37. It is a meaningful and unforgettable statement that captures the essence of the brand.
A. product naming C. branding
B. unique selling proposition D. tagline
38. These are things that people cannot live without.
A. wants C. requirements
B. desires D. needs
39. What is a target audience?
A. The people the business want to sell to C. The people the business does not want to sell to
B. The people the business want to work for them D. A and C
40. When demand goes up, price...?
A. Goes down C. Goes up
B. Stays stable D. None of the above
41. The market price is point where supply and demand meet.
A. True B. False
42. The following are the forms of pricing strategies EXCEPT ____________________.
A. Market penetration pricing C. Market skimming pricing
B. Neutral pricing D. Product pricing
43. Someone who buys from the producer and breaks bulk is a
A. Retailer C. Consumer
B. Wholesaler D. Agent
44. A retailer is someone who sells in small quantities to the consumer
A. True B. False
45. What is maturity in the product life cycle?
A. Sales rises rapidly
B. Sales increase more slow
C. Low sales because the product is new
46. Are brand loyal to any specific product?
A. Yes B. N
47. Promotion can encourage consumers to buy the new products. Is that an advantage or not?
A. Advantage B. Disadvantage
48. Which is the most effective type of advertising media for a sport product?
A. TV C. Radio
B. Sports events D. Internet
49. What type of media would you use to advertise a new sports drink?
A. TV C. Internet
B. Sports event D. None of the above?
50. Do you believe that public relations helps promote business?
A. Yes B. No
51. An interactive group setting with moderator, where a group of people/customers gives you face-to-face feedback.
A. Interviews C. Focused Group
B. Survey/Research D. Observations
52. Are conducted one-on-one which is made weekly or monthly activities with existing customers, evaluators, and potential
customers.
A. Interviews C. Focused Group
B. Survey/Research D. Observations
53. It is the study of the spending characteristics and purchasing power of the customers who ate within your business’s
geographic area of operation.
A. Interviews C. Focused Group
B. Survey/Research D. Observations
54. What is the definition of market size?
A. Measurement of the total volume of a given market.
B. Measurement of the total value of a given market.
C. Measurement of the total volume of a local market.
D. Measurement of the total volume of a foreign market.
55. How long does continuous quality improvement take?
A. 1 year C. 1 month
B. 6 months D. It is ongoing
56. Co-branding has the potential to __________ for the partners.
A. leverage buyouts C. increase sales
B. promote expenses D. force mergers
57. Jollibee is an example of a company with a sustainable competitive advantage because of ____.
A. higher profits than competitors for many years
B. pricing strategies that competitors struggle to meet
C. distribution strategies in stores receiving goods quickly.
D. All answers are correct.
58. Which method is used to distribute directly from the manufacturer to the customer?
A. Starbucks Distribution C. Indirect Distribution
B. Direct Distribution D. Intensive Distribution
59. Ted is in charge of the marketing strategy for ABC Company. Which of the following abilities of ABC Company should Ted
focus on most when developing a marketing strategy?
A. Ability to sell products C. Ability to make the highest profit
B. Ability to fulfill consumer needs D. Ability to generate the most revenue
60. Your company wants to ask questions in order to gain some specific answers about the product, such as: 'On a scale of 1 to
10, how would you rate this product?' In order to do so, your company has asked 100 people 20 questions and is assessing
the data. Which of the following is this an example of?
A. An interview. C. An expert analysis.
B. A survey. D. A focus group