Republic of the Philippines

BOHOL ISLAND STATE UNIVERSITY

Bilar Campus
Zamora, Bilar, Bohol
Vision: A premier S & T university for the formation of a world class and virtuous human resource for sustainable development
in Bohol and the country.
Mission: BISU is committed to provide quality higher education in the arts and sciences, as well as in the professional ad
technological fields; undertake research and development, and extension services for the sustainable development of Bohol
and the country.

COLLEGE OF TECHNOLOGY AND ALLIED SCIENCES

MIDTERM EXAMINATION

Answer each question briefly. (20 pts each).

1. Which is to be prepared first, Project Feasibility Study or Business Plan?

Explain your answer. Answer: The feasibility study would be completed
prior to the business plan. The feasibility study helps determine whether an
idea or business is a viable option. The business plan is developed after
the business opportunity is created.
2. Discuss the three main purposes of writing a business plan.The 3 most
important purposes of a business plan are 1) to create an effective
strategy for growth, 2) to determine your future financial needs, and 3) to
attract investors (including angel investors and VC funding) and lenders
3. What are the different parts of a business plan, explain in detail each part?
Executive summary

Presents the highlights of

the study that are shown
in detail in the different
sections.

Description of the venture

Provides a complete picture or

description of the products,
services and their unique
features.

Marketing Plan

Describes market
conditions and strategy
related to how products
and services will be
priced, distributed and
promoted

Organizational Plan

Describes the forms of

ownership and lines of
authority and responsibilities
of the people in the
organization.

Operational Plan

Gives the detail of how the

products are the to be
 Republic of the Philippines
BOHOL ISLAND STATE UNIVERSITY
Bilar Campus
Zamora, Bilar, Bohol
Vision: A premier S & T university for the formation of a world class and virtuous human resource for sustainable development
in Bohol and the country.
Mission: BISU is committed to provide quality higher education in the arts and sciences, as well as in the professional ad
technological fields; undertake research and development, and extension services for the sustainable development of Bohol
and the country.

COLLEGE OF TECHNOLOGY AND ALLIED SCIENCES

manufactured. The
merchandising plan for a
trading business of how
products are to be acquired
4. What is the best way to identify business opportunities? Discuss your
answer.Business opportunities are identified when companies find issues
or problems in existing markets, untapped needs, untapped technologies,
customer feedback, market research and other sources of information.
5. What are the seven steps in the offering of a new product process? What
are the key activities of each step?.
Stage One: Idea Generation
Idea generation is the first stage of the process and entails a method or
methods for coming up with new ideas for product development that are
superior to what competitors are currently offering.

Stage Two: Idea Screening

Bringing a product to market is expensive. That is part of the reason for a
seven-stage process in new product development. What companies want
to avoid is spending resources on products that, once screened, are not as
worthy of production as once envisioned.

Stage Three: Concept Development & Testing

Concept development entails crafting a detailed version (or versions) of an
idea for a product in terms of the customer’s perspective. It is important to
understand that while the concept should be specific and detail oriented,
this does not mean that you will include any type of branding, packaging, or
advertising.

Stage 4: Concept Testing with Focus Groups

Consumer discussion groups are often termed “focus groups.” These
groups generally consist of 30-60 people who are broken into smaller units.
Each smaller unit is then given descriptions of the product concept and
idea, and then left to open discussion without intrusion from anyone within
the company.

Stage 5: Business and Marketing Strategy Development (Stage Four)

The main components of building a business strategy include making
decisions about marketing, branding, advertising, and other components of
the marketing mix. During this stage, you will also want to identify and
analyze your competition, the costs involved in development, as well as
pricing strategies and anticipated profits, including your breakeven point

Stage 6:Developing a Marketing Strategy

A successful marketing strategy differs from a marketing plan in that the strategy
outlines the goals and direction for marketing whereas the plan identifies the
specific actions that will be taken in order to reach those goals.

Stage 7: Challenges in Building a Business Strategy

One of the challenging aspects of this phase of development is that the
organization will need to clearly identify how the new product fits into the
company’s overall long-term objectives. Even the best new product ideas will not
prove profitable for the company in the long run if the new product does not
coincide with the current branding and identification of the company from the
 Republic of the Philippines
BOHOL ISLAND STATE UNIVERSITY
Bilar Campus
Zamora, Bilar, Bohol
Vision: A premier S & T university for the formation of a world class and virtuous human resource for sustainable development
in Bohol and the country.
Mission: BISU is committed to provide quality higher education in the arts and sciences, as well as in the professional ad
technological fields; undertake research and development, and extension services for the sustainable development of Bohol
and the country.

COLLEGE OF TECHNOLOGY AND ALLIED SCIENCES

consumer’s perspective.

O, MSTCS
MIS, BISU – Bilar Campus
 Republic of the Philippines
BOHOL ISLAND STATE UNIVERSITY
Bilar Campus
Zamora, Bilar, Bohol
Vision: A premier S & T university for the formation of a world class and virtuous human resource for sustainable development in
Bohol and the country.
Mission: BISU is committed to provide quality higher education in the arts and sciences, as well as in the professional ad
technological fields; undertake research and development, and extension services for the sustainable development of Bohol and the
country.

COLLEGE OF TECHNOLOGY AND ALLIED SCIENCES