POINTERS IN ENTREPRENEURSHIP

NOT a definition of Entrepreneurship.

*Refers to a person who sets up a business with the aim to make a profit.
Entrepreneur means
*To undertake
Importance of entrepreneurship in SHS students.
*Entrepreneurship generates new wealth in an economy.
*Entrepreneurship decreases poverty.
*It creates opportunities, ensures social justice, instils confidence and stimulates the economy.
It is NOT a common competency in Entrepreneurship
*Profit potential
It is NOT included in the three levels of competency needed in Entrepreneurship?
*Common competency
It is NOT the job/career that fits for an individual taking Entrepreneurship?
* Graphic designer
Entrepreneurs who create new ideas
*Innovative Entrepreneurs
Letecia is graduating SHS. After his graduation, she is planning to put up a computer shop. What core
competency she needs to develop?
*Systems and application
It is NOT a core competency
*Giving solution to a problem
It is part of the entrepreneurial process wherein the entrepreneurs begin to take note of interesting
trends in their environment?
*Opportunity spotting and assessment
It is a comprehensive paper that details the marketing, operational, human resource,
financial, strategic direction, and tactics of the business?
*Business plan
It refers to an essential to opportunity-seeking which allows the entrepreneur to see things in a positive and
optimistic light in the midst of crisis or difficult situations?
*Entrepreneurial mind frame
Entrepreneurial heart flame is
*Entrepreneurs are driven by passion; they are attracted to discover satisfaction in the act and process
of discovery.
It refers to a source of entrepreneurial idea where expertise and skills developed by a person from its previous
work can lead to the opening of a related business enterprise?
*Past experiences
It is good sources of entrepreneurial ideas determine the interest, hobbies and
preferences of people?
*People’s interests
It is NOT included in forces competing within the industry.
*Needs and Wants
How will you check the intensity of rivalry among existing firms?
*Number of competing firms
How do you define market?
*It is place where buyers and sellers exchange goods and services.
It refers to the part of the total population that has shown some level of interest in buying a particular product or
service?
Part of the total population that has shown some level of interest in buying particular product or services.
*Potential Market
It refers to a group of potential customers to whom a company wants to sell its products and
services and generally categorized by age, location, income, and lifestyle?
*Target market
How can you say that a customer is a prospect?
*If the person is searching for a solution and considering to purchase a product/service.
It refers to anything that we can offer to a market for attention, acquisition, use or consumption that could
satisfy a need or want.
* Product
It is NOT a function of Value Proposition?
*Determine customers buying habits
It refers to how you sell your products or services to your customer?
*Unique selling proposition
It is NOT included in the tips for the entrepreneur on how to create an effective unique selling proposition to the
target customers?
*Completeness of proportion
It is a process of gathering, analyzing and interpreting the information about the product or the services to be
offered for sale in the market, the market and about past, present and any potential consumers for the
products.
*Market research
It pertains to a data gathering technique where it can be moderated to group interviews and brainstorming
sessions that provide information on user’s needs and behaviors.
*Focus group discussion

Statement supports Marketing Mix?

*Marketing Mix is a set of controllable and connected variables that a company gathers to
satisfy a target group better than its competitor.
Product define as
* A product is an item that is built or produced to satisfy the needs of a certain group of people, it can
be intangible or tangible.
It is the best statement that applies to consumer goods?
*A buyer of consumer goods must have complete knowledge of the goods he buys and uses.
It is NOT true about consumer goods
*The demand for business goods is a 'derived demand'.
It is NOT belonged to the 7P’s of marketing mix
*Penetration
What factors would change in the distribution channel if there will be no Intermediary like producer and
consumer?
*Direct-marketing will take place, since it has no intermediary levels. In this case the manufacturer sells
directly to customers.
It is the advantage of penetration pricing?
*The company will gain market share because the price charged for products and services is
set artificially low.
Promotions refer to the partial set of activities, which communicate the product, brand or service to the user.
The idea is to make people aware, attract and induce to buy the product, in preference over others. In this
statement, which is not true about promotions?
*Partial set of activities
It is NOT considered as the most common medium in promoting a product
*Positioning
It is NOT a form of direct marketing
*Commercials