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

Started on Monday, 1 May 2023, 7:30 PM

State Finished
Completed on Monday, 1 May 2023, 7:52 PM
Time taken 22 mins
Marks 44.00/50.00
Grade 88.00 out of 100.00

Question 1
Correct

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

a. The industrial market

b. The consumer market

c. The reseller market

Your answer is correct.

Question 2

Correct

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

a. Opportunity Realization

b. Opportunity Recognition

c. Opportunity Assessment

Your answer is correct.

Question 3
Correct

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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. Intrapreneur

c. Intrapreneurship

d. Entrepreneurship

Your answer is correct.

Question 4

Incorrect

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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 incorrect.

Question 5
Correct

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

a. Primary Needs

b. Stated Needs

c. Silent Needs

d. Secondary Needs

Your answer is correct.

Question 6

Correct

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

a. Marketing Concept

b. Production Concept

c. Societal Concept

d. Selling Concept

Your answer is correct.

Question 7

Correct

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Who coined the term core competency in 1989.

a. Joseph Schumpeter

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

c. Adam Smith and J.B. Say

d. J.B. Say

Your answer is correct.

Question 8
Correct

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

a. Psychographic

b. Geographic

c. Behavioristic

d. Demographic

Your answer is correct.

Question 9
Correct

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

a. Consumer

b. Target market user

c. Existing Customer

d. Prospects

Your answer is correct.

Question 10

Correct

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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. Businessman

c. Entrepreneur

d. Innovator

Your answer is correct.

Question 11

Incorrect

Mark 0.00 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. Societal Concept

b. Production Concept

c. Marketing Concept

d. Selling Concept

Your answer is incorrect.

Question 12
Correct

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

a. Core Competency

b. Strategies

c. Strategic Intent

d. Strategic Architecture

Your answer is correct.

Question 13

Correct

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People who have already purchased your product

a. Existing Customer

b. Consumer

c. Prospects

d. Target market user

Your answer is correct.

Question 14

Correct

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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. Selling Concept

b. Societal Concept

c. Production Concept

d. Marketing Concept

Your answer is correct.

Question 15

Correct

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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. Competitors

c. Supplier

d. Complementors

Your answer is correct.

Question 16

Correct

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

a. Employee

b. Entrepreneur

c. Intrapreneur

d. Interprenuer

Your answer is correct.

Question 17
Correct

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The entire concept of customer development is __________

a. Feedback Driven

b. Product Driven

c. Market driven

d. Sales driven

Your answer is correct.

Question 18

Correct

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

a. Regulator

b. Substitutors

c. Influencers

d. Supplier

Your answer is correct.

Question 19

Correct

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

a. Joseph Schumpeter

b. Adam Smith

c. Richard Cantillon

d. J.B. Say

Your answer is correct.

Question 20

Incorrect

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

a. The industrial market

b. The consumer market

c. The reseller market

Your answer is incorrect.

Question 21

Correct

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Points out to identifying various opportunity gaps

a. Strategies

b. Strategic Architecture

c. Core Competency

d. Strategic Intent

Your answer is correct.

Question 22
Correct

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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. Product Concept

c. Marketing Concept

d. Selling Concept

Your answer is correct.

Question 23

Correct

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

a. Consumer

b. Prospects

c. Target market user

d. Existing Customer

Your answer is correct.

Question 24

Correct

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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. Influencers

d. Regulator

Your answer is correct.

Question 25

Correct

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

a. Selling Concept

b. Marketing Concept

c. Production Concept

d. Societal Concept

Your answer is correct.

Question 26

Correct

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

a. Psychographic

b. Behavioristic

c. Demographic

d. Geographic

Your answer is correct.

Question 27

Correct

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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. Selling Concept

c. Production Concept

d. Marketing Concept

Your answer is correct.

Question 28

Correct

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

a. Survey

b. Convergent thinking

c. Divergent thinking

Your answer is correct.

Question 29

Correct

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

a. Profitability

b. Income

c. Sales

Your answer is correct.

Question 30

Correct

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

a. Businessman

b. Entrepreneur

c. Investor

d. Innovator

Your answer is correct.

Question 31
Correct

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

a. Convergent thinking

b. Divergent thinking

c. Survey

Your answer is correct.

Question 32

Correct

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

a. Market

b. Market Potential

c. Market Segment

d. Target Market

Your answer is correct.

Question 33

Incorrect

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

a. Societal Concept

b. Production Concept

c. Marketing Concept

d. Selling Concept

Your answer is incorrect.

Question 34

Correct

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

a. Strategic Architecture

b. Strategies

c. Core Competency

d. Strategic Intent

Your answer is correct.

Question 35

Correct

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

a. Marketing

b. Market Positioning

c. Market Segmentation

d. Target Market

Your answer is correct.

Question 36

Correct

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The ability to implement the appropriate ideas.

a. Idea

b. Innovativeness

c. Creativity

d. Skills

Your answer is correct.

Question 37

Correct

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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. Product Concept

b. Production Concept

c. Marketing Concept

d. Selling Concept

Your answer is correct.

Question 38

Correct

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

a. Supplier

b. Complementors

c. Competitors

d. Customers

Your answer is correct.

Question 39

Correct

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The ability to generate ideas

a. Skills

b. Innovativeness

c. Idea

d. Creativity

Your answer is correct.

Question 40

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. Production Concept

b. Product Concept

c. Marketing Concept

d. Selling Concept

Your answer is correct.

Question 41

Correct

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The French word where the word entrepreneur originates.

a. entreprendre

b. entreprene

c. entrep

d. entreprese

Your answer is correct.

Question 42

Correct

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

a. Convergent thinking

b. Divergent thinking

c. Survey

Your answer is correct.

Question 43

Correct

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_________________ is created when such innovation results in new demand.

a. Production Method

b. Product

c. Markets

d. Wealth

Your answer is correct.

Question 44
Correct

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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 reseller market

b. The industrial market

c. The consumer market

Your answer is correct.

Question 45

Correct

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

a. Creativity

b. Market Potential

c. Opportunity

d. Sales

Your answer is correct.

Question 46

Correct

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

a. Supplier

b. Competitors

c. Customers

d. Complementors

Your answer is correct.

Question 47

Incorrect

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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. Product Concept

b. Marketing Concept

c. Selling Concept

d. Production Concept

Your answer is incorrect.

Question 48

Correct

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_____________ 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. Supplier

d. Customers

Your answer is correct.

Question 49

Incorrect

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

a. Marketing Concept

b. Production Concept

c. Societal Concept

d. Selling Concept

Your answer is incorrect.

Question 50

Correct

Mark 1.00 out of 1.00

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

a. Demographic

b. Psychographic

c. Behavioristic

d. Geographic

Your answer is correct.

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