Contributed by : Ms.

Ma Theresa DF Malco
MASTER TEACHER 1
ENTREPRENEURSHIP (ABM)

GENERAL INSTRUCTIONS: Review the following materials. The answer keys are indicated in BOLD.

1. What is Unique Selling Proposition (USP)? USP is a/an __________________

A. factor that differentiates a product from its competitors.

B. advertising technique to invite customers to try a product.
C. theory which convinced customers to switch from brands to another brands.
D. marketing Concept first proposed as a theory to explain a pattern in successful selling
campaign.

2. What is Target Market? Target Market is a _____________

A. subset of the total market.

B. group of people who is subjected to buy a product or services.
C. boudaries of specific focus on which brands or products compete for a specific market.
D. group of customers within a business’s serviceable available market at which a
business aims its marketing efforts and resources.

3. What is Market size? Market Size is a/an/the _____________

A. activity identifying consumers in a market.
B. market controlled by a particular company or product.
C. total number of individual in a given industry over a given period of time, often a single
year.
D. total number of individuals in a certain market who are potential buyers and/or sellers
of a product or service.

4. What is customer requirements? Customer requirements is a/the_____________

A. Consumer expectation.
B. need that consumer claim.
C. specification that originates from customers.
D. requirements that company recognizes for customers.

5. What is survey? Survey is a __________

A. field of applied statistics of methodology studies.

B. tool utilizing for quantitative research method in collecting data.
C. examine and record the area and features of so as to construct a map, plan, or
description.
D. primary research tools that have fixed sets of questions which are usually used to
collect quantifiable information.

6. What is Focus Group Discussion? Focus Group Discussion is a _______________

A. tool best for qualitative research.

B. technique to ask people about certain concerns of the industry.
C. good way to gather people from similar backgrounds or experiences to discuss a
specific topic or interest.
D. 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.

7. What is In-deoth Interview? In-depth interview is a/an _____________________

A. qualitative research teachnique.

B. meeting of people face-to-face for certain concerns.
C. formal meeting at which someone is asked in-depth questions.
D. intensive individual interviews where numbers of respondents are less and is focused on
a specific product, technique, situation or objective.
8. What is a Marketing Mix? Marketing is a ___________________

A. set of tactics to promote service or product in the market.

B. strategy intend to attract customers to buy products or services.
C. technique that make customers to purchase products and services.
D. mix strategies to influnce cusumers to purchase products and services.

9. What is a brandname ? A brandname means a ___________

A. household name.
B. trademark of a product or service.
C. name for a brand that is significantly popular.
D. signature that makes a product or services unique.

10. What is the 4Ms of operation? The 4Ms of operation is the ______________

A. way of doing things in the operational system.

B. four operational aspect of improving the operational system.
C. four processes to be followed to oversee the operational system.
D. concept of operation based on opportunities to improve the system.

11. What is a business Model? A business model is a _________

A. Business strategy that suppots innovation.

B. Clear concise way of a how a business operates.
C. Way to create business Standard Operating Procedure.
D. Description of a business plan strategies based on SWOT analysis.

12. What is forecast revenue? A forecast revenue is a/an _________________

A. educated prediction for the upcoming year.

B. estimate of the costs and where is should be spend.
C. assumption about how money can be out into good use.
D. calculation of the amount of money at a particular period of time.

13. What is forecast cost? A forecast cost is a/an ____________

A. Important way in the planning processs.

B. process that utilizes cost planning to constantly changing circumstances.
C. accounting that refers to the process of using historic data to predict future costs.
D. technique that uses historical data as inputs to make informed estimates that are
predictive in determining the direction of future trends.

14. What is profits? Profit/s is/are __________________

A. the surplus left from revenue after paying all costs.

B. referred to as the bottom line, net profit, or net earnings.
C. the income that a business has from its normal business transactions.
D. positve gain number of goods or services sold in a given targetted time period.

15. What is variable cost? Variable cost is ________________

A. Refers to the direct costs of producing the goods sold by a company.

B. a corporate expense that changes in proportion to production output.
C. expenses that do not change as a function of the activity of a business.
D. the total cost of producing and distributing of products and services of a company.

16. What is fixed Cost? Fixed cost is _______________

A. Refers to the direct costs of producing the goods sold by a company.

B. a corporate expense that changes in proportion to production output.
C. an expense that do not change as a function of the activity of a business.
D. the total cost of producing and distributing of products and services of a company.
 17. What is a 5yr financial plan? A 5yr financial plan is a/any _____________

A. comprehensive income statement.

B. financial plan that provide income and expenses.
C. comprehensive evaluation of future financial state.
D. financial plan specifiying goals to be reached within a period.

18. What is a trademark? Trademark is _____________

A. a product that has distinguishing marks.
B. A specific name that names a product from others.
C. an intellectual property right that identifies a product.
D. any symbol that would differentiate a product from its competitors.

For Numbers 19 – 22, Choose the correct answer from the box.

A. Management of variable costs as stipulated in the financial statements.

B. Management of implementing rules and regulations (IRR) that sets standard operting
procedure (SOP).
C. Management of devices for specific activity that aid ease in the performance of duties
and responsibilities.
D. Management of the holistic wellbeing of the organization’s workforce through
Teambuilding, Trainings and seminars, advance education, Incentives etc.

19. Which of the following statements suggest Manpower for operations in relation to the
business opportunity? D.

20. Which of the following statements suggest Methods for operations in relation to the
business opportunity? B.

21. Which of the following statements suggest Machine for operations in relation to the
business opportunity? C.

22. Which of the following statements suggest Materials for operations in relation to the
business opportunity? A.

For Numbers 23 – 25, Choose the correct answer from the box.

A. This refers to the industry of potential buyers and sellers.

B. This refers to the total amount of sales in a given industry over a given period of time.
C. This refers to the identifying needs and wants of the industry through FGD, INTERVIEW and
or SURVEYS.
D. This refers to the total number of buyers and sellers in a given industry for specific brand,
product or service.

23. Which of the following statements suggest Market size in determining consumer behaviour
and customer demographics? B.

24. Which of the following statements suggest Customer requirements in determining cosumer
behaviour and customer demographics? C.

25. Which of the following statements suggest target market in determining cosumer
behaviour and customer demographics? D.

26. Which of the following statement is NOT Unique Selling Proposition? USP is not ________

A. Another term for Unique selling point.

B. An marketing effort to establlish identity of a brand, product or service.
C. A marketing campaign that encourages consumers to switch products.
D. A marketing concept proposed as a theory to explain a pattern in successful
advertising campaign.
27. Which of the following statement is NOT value propositions? VP is not ____________

A. An innovation intended for product or services.

B. An innovation but not to improvise products or services.
C. Anything that makes a product or company attractive to customers.
D. A description of the benefits customers can expect and reasons why a product or
serviuce should be bought or availed instead of other brands.

28. Which of the following statement is NOT focused group discussion that validates customer
related concern? FGD is not a ______________

A. predetermined semi-structured interview led by a skilled moderator.

B. marketing activity from a marketing company that provides validation of customer
requirements.
C. form of qualitative research that cutomer perception, attitude, belief, opinion and
ideas for the intended product or services.
D. gathering of people from similar backgrounds, or experiences together to discuss a
specific topic of interest about a product or service.

29. Which of the following statement is NOT an interview that validates customer related
cocern? Interview is not to __________________

A. Look for unique responses after inteviewing 10 to 20 customers.

B. Focus on the problem, ask open-ended questions, talk less, ask why and listen more.
C. Give the green light to criticize and be prepared to hear what you don’t want to hear.
D. Read between the lines of your customer responds -- take note of body language and
words used during the interview.

30. Which of the following statement is NOT a survey that validates customer related cocern?
Survey is not a tool that / to __________________

A. that focuses on turning objectives to great questions.

B. to understand if its core offering is priced appropriately.
C. that provides strategic planning for future product and services.
D. that finds out which types of customers are most likely to purchase or avail products or
services.

31. Which of the following is NOT a concept in BRANDNAME? Brandname is not a _______

A. Synonym to TRADEMARK that makes product known in the industry.

B. name that gives an idea about the product’s qualities and benefits.
C. Signature that differentiate a product or service from other similar product or service.
D. Process of customary authenticating the company’s product or service that separates it
from existing similar products or services.

32. Which of the following is NOT a process of BRANDING? Branding is not a marketing practice
__________
A. of actively shaping a company’s product and or service.
B. to identify a product and distinguish it from other products and services.
C. Promotion of a particular product or company by means of advetising and distinctive
design.
D. Where a company creates a name, symbol or design that is easily identifiable as
belonging to the company.

33. Which of the following statement is NOT a concept of the 7Ps of Marketing? 7Ps is not
__________
A. a method of determining product strategy and product portfolio.
B. to review and define key issues that affect the marketing of its product and services.
C. the combination of seven elements of marketing that aim to work together to
achievethe objectives of a marketing strategy.
D. a process that refers to the flow of activities or mechanism that take place when there
is an interaction between the customers and the businesses.
 34. Which of the following statement is NOT a concept of the 4Ps of Marketing? 4Ps is not a
____________
A. foundation model that centered around product, price, place, promotion.
B. set of marketing tools to pursue its marketing objectives in the target market.
C. used to continually evaluate and reevaluate business actviities on products and service
offering.
D. crucial tool to help understand product and service can offer and how to plan for
sucessful product offering.

35. Which of the following statement is NOT a concept of business model ? Business Model is
not a ___________
A. Specification describing how an organization fulfills its purpose.
B. conceptual structure supporting the viability of a business on it intends to operate and
make money.
C. description of rationale on how an organization creates, delivers, and captures value,
in economic, social and cultural.
D. business concept that includes basic information such as the service or product that
gives company advantage over competitors.

36. Which of the follwoing statement is NOT a concept of business process? Business process is
not to ________________
A. test, implement and monitor process established of the company.
B. define goals, plan and map the intended process of the company.
C. set actions and assign stakeholders to establish process of the company.
D. repeat the process once an establish process was made as it will be maintained as
it is.

For Numbers 37 – 45, Application of concepts learned on product/service development thru business
planning. Choose the appropriate answer from the box.

A. Feedbacking B. Communication, Coordination and Cooperation

C. Planning D. Implementation/Execution

37. developing product/service description of the business concept for the Strand Business
Summit. C.

38. creating and testing protype of product/service for the strand business summit. D.

39. 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. A.

40. In the industry it is to select/pinpoint potential suppliers of raw materials and other inputs
necessary for the production of the product or service while in the strand business summit it
is determining the raw materails to utilize for the product or service to be offered. C.

41. 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. C.

42. In the industry, recruit qualified people for one’s business enterprise or pinpointing the right
person to do the specific duties during the planning and implementation of the business
execution of the strand business summit. D.

43. Collaboration with non-business strand to establish products and or service to be offered
during SBS business implementation. B.

44. Series of meetings and updates of teachers and students in the accomplishment of task for
the strand business summit. B.
 45. Utilizing skills and knowledge as prototypes for products and or services to be offered
duirng the strand business summit. D.

For Numbers 46-54, Peruse (read and understand carefully) each sentence. Write “A” if it is TRUE and
“B” if it is false then beside the letter “B” write the word or phrae that make the sentence wrong at the
back of your bubble sheet.

46. A 5yr plan is good for the first 5 years of business implementation after this, a business may
continue without it because it has already served its purpose in planning. B.

47. A 5yr financial plan is the same as the 3yr financial plan in terms of purpose. B.

48. A 5yr financial plan describes where the business at a status quo and how a company
plans to achive its goals. A

49. Forecast revenue is to aid businesses in cash flow management to plan capital needs to
avoid missing payments, generating late fees, losing access to vendors and suppliers and
damaging company credit line. A

50. Forecast revenue determines how sales are calculated for the your industry and estimate
market share of the company. A

51. Forecast revenue determines the peak and slack days of business transaction and predict
price incraese for the following year. A

52. Cost forecasting determines the value of fixed and variable cost stipulated on the
comprehensive income statement. A

53. Increase in prices of raw materials and commodities are most essential in cost forecasting.
B

54. Value of service is undetermined in cost forecasting. B