Home / My courses / BAED-ENTR2122-2222S / FIRST QUARTER EXAMINATION / FIRST QUARTER EXAM

Started on Saturday, 6 May 2023, 11:13 AM

State Finished
Completed on Saturday, 6 May 2023, 12:41 PM
Time taken 1 hour 27 mins
Marks 49.00/50.00
Grade 98.00 out of 100.00

Question 1

Correct

Mark 1.00 out of 1.00

This is an employed staff e.g. manager who innovates for the company and takes risks only on behalf of the employer.

a. Intrapreneur


b. Interprenuer

c. Entrepreneur

d. Employee

Your answer is correct.

Question 2

Correct

Mark 1.00 out of 1.00

Potential customers are in a local, state, regional or national marketplace segment

a. Demographic

b. Behavioristic

c. Psychographic

d. Geographic


Your answer is correct.

Question 3

Correct

Mark 1.00 out of 1.00

This concept proposes that customers, be individual or organizations will not buy enough of the organization’s products unless
they are persuaded to do so through selling effort

a. Production Concept

b. Marketing Concept

c. Selling Concept


d. Product Concept

Your answer is correct.

Question 4

Correct

Mark 1.00 out of 1.00

The collective learning of the organization, especially how to co-ordinate the diverse production skill and integrate multiple stream
of technologies.

a. Strategic Architecture

b. Strategies

c. Core Competency


d. Strategic Intent

Your answer is correct.

Question 5

Correct

Mark 1.00 out of 1.00

Those who sell non-competing products and which generally help your sales.

a. Competitors

b. Complementors


c. Customers

d. Supplier

Your answer is correct.

Question 6

Correct

Mark 1.00 out of 1.00

_____________ are like competitors but their products are not the same.

a. Regulator

b. Supplier

c. Influencers

d. Substitutors


Your answer is correct.

Question 7

Correct

Mark 1.00 out of 1.00

Potential customers are identified by criteria such as age, race, religion, gender, income level, family size, occupation, education
level and marital status.

a. Demographic


b. Psychographic

c. Behavioristic

d. Geographic

Your answer is correct.

Question 8

Correct

Mark 1.00 out of 1.00

The __________ concept is the most followed ideology by top companies.

a. Marketing Concept


b. Production Concept

c. Selling Concept

d. Societal Concept

Your answer is correct.

Question 9

Correct

Mark 1.00 out of 1.00

A thought process or method used to generate creative ideas by exploring many possible solutions.

a. Convergent thinking

b. Survey

c. Divergent thinking


Your answer is correct.

Question 10

Correct

Mark 1.00 out of 1.00

This is the development within a large co-operation of internal markets and relatively small autonomous business units producing
products, services or technologies that employ the firms‟ resources in a unique way.

a. Interpreneurship

b. Entrepreneurship

c. Intrapreneurship


d. Intrapreneur

Your answer is correct.

Question 11

Correct

Mark 1.00 out of 1.00

The ability to implement the appropriate ideas.

a. Skills

b. Idea

c. Creativity

d. Innovativeness


Your answer is correct.

Question 12

Correct

Mark 1.00 out of 1.00

The ____________________concept calls upon marketers to build social and ethical considerations into their marketing practices.

a. Marketing Concept

b. Selling Concept

c. Production Concept

d. Societal Concept


Your answer is correct.

Question 13

Correct

Mark 1.00 out of 1.00

People in your target market who are not currently looking for a solution.

a. Existing Customer

b. Target market user



c. Prospects

d. Consumer

Your answer is correct.

Question 14

Correct

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The basic proposition of this concept is that customers will choose products and services that are widely available and are of low
cost.

a. Product Concept

b. Selling Concept

c. Marketing Concept

d. Production Concept


Your answer is correct.

Question 15

Correct

Mark 1.00 out of 1.00

The process of breaking down a larger target market into smaller segments with specific characteristics.

a. Market Positioning

b. Marketing 

c. Target Market

d. Market Segmentation


Your answer is correct.

Question 16

Correct

Mark 1.00 out of 1.00

According to a French economist, J. B. Say, an entrepreneur is a person who shifts economic resources out of an area of lower
productivity into an area of higher productivity and greater yield.

a. Investor

b. Innovator

c. Entrepreneur


d. Businessman

Your answer is correct.

Question 17

Correct

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The entire size of the market for a product at a specific time.

a. Market Segment

b. Market Potential


c. Target Market

d. Market

Your answer is correct.

Question 18

Correct

Mark 1.00 out of 1.00

_____________ may sell directly into the market, for example selling spare parts, but largely they need to be kept aligned to your
strategy.

a. Complementors

b. Competitors

c. Customers

d. Supplier


Your answer is correct.

Question 19

Correct

Mark 1.00 out of 1.00

This concept was an offshoot of the marketing concept wherein an organization believes in giving back to the society by producing
better products targeted towards society welfare.

a. Marketing Concept

b. Production Concept

c. Selling Concept

d. Societal Concept


Your answer is correct.

Question 20

Correct

Mark 1.00 out of 1.00

The French word where the word entrepreneur originates.

a. entreprese

b. entrep

c. entreprene

d. entreprendre


Your answer is correct.

Question 21

Correct

Mark 1.00 out of 1.00

The __________ concept is more operations oriented than any other concept.

a. Production Concept


b. Selling Concept

c. Marketing Concept

d. Societal Concept

Your answer is correct.

Question 22

Correct

Mark 1.00 out of 1.00

The ability to generate ideas

a. Idea

b. Creativity


c. Innovativeness

d. Skills

Your answer is correct.

Question 23

Correct

Mark 1.00 out of 1.00

_________________  is created when such innovation results in new demand.

a. Product

b. Production Method

c. Markets

d. Wealth


Your answer is correct.

Question 24

Correct

Mark 1.00 out of 1.00

The roadmap which predicts what core competencies to build and which related technologies are needed.

a. Strategic Intent

b. Strategic Architecture


c. Strategies

d. Core Competency

Your answer is correct.

Question 25

Correct

Mark 1.00 out of 1.00

The most important organization or people in the market are your ________.

a. Customers


b. Competitors

c. Supplier

d. Complementors

Your answer is correct.

Question 26

Correct

Mark 1.00 out of 1.00

A general view, examination, or description of someone or something.

a. Survey


b. Convergent thinking

c. Divergent thinking

Your answer is correct.

Question 27

Correct

Mark 1.00 out of 1.00

Austrian economist who placed the definition of entrepreneurship an emphasis on innovation.

a. Adam Smith

b. Joseph Schumpeter


c. J.B. Say

d. Richard Cantillon

Your answer is correct.

Question 28

Correct

Mark 1.00 out of 1.00

The degree to which a business or activity yields profit or financial gain.

a. Profitability


b. Income 

c. Sales 

Your answer is correct.

Question 29

Correct

Mark 1.00 out of 1.00

People who have not yet purchased your product but are considering it

a. Target market user

b. Prospects


c.  Existing Customer

d. Consumer

Your answer is correct.

Question 30

Correct

Mark 1.00 out of 1.00

This concept proposes that consumers will prefer products that have better quality, performance and features as opposed to a
normal product.

a. Production Concept

b. Marketing Concept

c. Selling Concept

d. Product Concept


Your answer is correct.

Question 31

Correct

Mark 1.00 out of 1.00

Many businesses offer products based on the attitudes, beliefs and emotions of their target market.

a. Behavioristic

b. Psychographic


c. Geographic

d. Demographic

Your answer is correct.

Question 32

Correct

Mark 1.00 out of 1.00

The ability to give the "correct" answer to standard questions that do not require significant creativity

a. Divergent thinking

b. Convergent thinking


c. Survey

Your answer is correct.

Question 33

Correct

Mark 1.00 out of 1.00

Individuals and households who buy goods for their own use or benefit.

a. The industrial market

b. The reseller market

c. The consumer market



Your answer is correct.

Question 34

Correct

Mark 1.00 out of 1.00

Points out to identifying various opportunity gaps

a. Strategies

b. Core Competency

c. Strategic Architecture 

d. Strategic Intent


Your answer is correct.

Question 35

Correct

Mark 1.00 out of 1.00

The entire concept of customer development is __________

a. Sales driven

b. Feedback Driven


c. Product Driven

d. Market driven

Your answer is correct.

Question 36

Correct

Mark 1.00 out of 1.00

A person who is able to identify business opportunities and implement actions to maximize on the opportunities.

a. Entrepreneur


b. Innovator

c. Businessman

d. Investor

Your answer is correct.

Question 37

Correct

Mark 1.00 out of 1.00

The __________________ phase is crucial when beginning a new enterprise, it is important to seek new opportunities throughout
the entire lifetime of any enterprise

a. Opportunity Realization

b. Opportunity Recognition


c. Opportunity Assessment

Your answer is correct.

Question 38

Correct

Mark 1.00 out of 1.00

The __________________  is what we call the “Get it Done” phase.

a. Opportunity Assessment

b. Opportunity Recognition

c. Opportunity Realization


Your answer is correct.

Question 39

Correct

Mark 1.00 out of 1.00

A set of circumstances that makes it possible to do something.

a. Creativity

b. Sales

c. Opportunity


d. Market Potential

Your answer is correct.

Question 40

Correct

Mark 1.00 out of 1.00

Focuses on needs / wants of target markets & delivering value better than competitors do that preserves the consumer and
society’s well-being

a. Production Concept

b. Marketing Concept

c. Societal Concept


d. Selling Concept

Your answer is correct.

Question 41

Correct

Mark 1.00 out of 1.00

Individuals, groups or organizations that purchase your product or service for direct use in producing other products or for use in
their day-to-day operations.

a. The industrial market



b. The reseller market

c. The consumer market

Your answer is correct.

Question 42

Correct

Mark 1.00 out of 1.00

The needs that are explicit statements from your market that declare, “I want a product to do X.”

a. Silent Needs

b. Stated Needs


c. Primary Needs

d. Secondary Needs

Your answer is correct.

Question 43

Correct

Mark 1.00 out of 1.00

This concept proposes that the success of the firm depends on the marketing efforts of the company and in delivering a better value
proposition as compared to its competitors in its own target market.

a. Societal Concept

b. Production Concept

c. Marketing Concept


d. Selling Concept

Your answer is correct.

Question 44

Correct

Mark 1.00 out of 1.00

Who coined the term core competency in 1989.

a. Joseph Schumpeter

b. J.B. Say

c. Adam Smith and J.B. Say

d.  Dr.C.K Prahalad and Prof. Gray Hamel



Your answer is correct.

Question 45

Correct

Mark 1.00 out of 1.00

This concept believes in the consumer and it says the consumers are more likely to be loyal if they have more options of products or
they get more benefits from the product of the company

a. Marketing Concept

b. Product Concept


c. Production Concept

d. Selling Concept

Your answer is correct.

Question 46

Incorrect

Mark 0.00 out of 1.00

The middlemen or intermediaries, such as wholesalers and retailers, who buy finished goods and resell them for a profit.

a. The reseller market



b. The consumer market

c. The industrial market

Your answer is incorrect.

Question 47

Correct

Mark 1.00 out of 1.00

There are also groups and organizations who have no direct control but who will seek to promote their own agendas by influencing
players within the marketplace, including regulators and retailers

a. Substitutors

b. Supplier

c. Regulator

d. Influencers


Your answer is correct.

Question 48

Correct

Mark 1.00 out of 1.00

Those who have products and services similar to you and where customers who are buying something will compare your offerings
and prices directly, weighing one up against the other.

a. Customers

b. Supplier

c. Complementors

d. Competitors

Your answer is correct.

Question 49

Correct

Mark 1.00 out of 1.00

This concept believes in the pull strategy and says that you need to make your brand so strong that customers themselves prefer
your brand to every other competitor.

a. Selling Concept

b. Production Concept

c. Marketing Concept


d. Societal Concept

Your answer is correct.

Question 50

Correct

Mark 1.00 out of 1.00

People who have already purchased your product

a. Prospects

b. Target market user

c. Existing Customer


d. Consumer

Your answer is correct.

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