demographic

A profile for a business would include such factors as customer size, number of employees, type
of products, and annual revenue.

Question 2

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

There are not enough employment opportunities in the formal sector. The small business sector
has the capacity to create many jobs.

Select one:

a. To fulfill a life-long ambition

b. Inability to secure a desirable job

c. Need to improve personal income

d. Love for adventure

Question 3

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

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

Select one:

a. Competitors

b. Complementors
c. Influencers

d. Substitutors

Question 4

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Companies have systems in place to avoid this type of customers.

Select one:

a. Gold

b. Iron

c. Platinum

d. Lead

Question 5

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Companies would always give the best service and other benefits to this type of customers.

Select one:

a. Iron

b. Platinum

c. Gold

d. Lead

Question 6
Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Fill in the blanks.

Your target market should be measurable, sufficiently large and

Answer

reachable

Question 7

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Buy less, but are useful as in aggregate they may buy quite a lot.

Select one:

a. Major customers

b. Competitors

c. Suppliers

d. Minor customers

Question 8
Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Truly think outside the box, stretch the limits, and are combinatorial in non-traditional ways.

Select one:

a. An eye for opportunity

b. All of the answers correct

c. Opportunity Recognizers

d. Need to achieve

Question 9

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Entrepreneurs must demonstrate this characteristic in order to cope with all the risks of
operating their own business.

Select one:

a. Need to achieve

b. Locus of control

c. Risk bearing

d. Self-confidence

Question 10

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Outsourcing can give short term

Select one:

a. Core Capabilities

b. Core Competency

c. Competitive Advantage

d. Technical Capabilities

Question 11

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Entrepreneurs most likely have a keen sense of what type of person is needed to fulfill a
position.

Select one:

a. Teacher

b. Recruiter

c. Sales

d. Business Reporter

Question 12

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

If you know what makes them tick, you can serve them in the way they prefer.

Select one:
a. What they think about you

b. What they expect of you

c. What they think about your competitors

d. What makes them feel good about buying

Question 13

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

What are things you need to know about your customers?

Select one:

a. Who they are, what they do,

b. Why they buy, when they buy, how they buy

c. Both of the given choices are correct

d. Either of the given choices are correct

Question 14

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

When teaching the entrepreneurial side, which one should you focus on?

Select one:

a. Literature to persuasive advertising

b. All of the answers are correct

c. Math to business
d. History to innovation

Question 15

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Problems with yet undefined solutions.

Select one:

a. Silent Needs

b. Stated Needs

c. Both of the given choices are correct

d. No correct answer

Question 16

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

As an organization, they developed products that are rich in design and user experience.

Select one:

a. Netflix

b. NEC

c. Apple

d. Canon

Question 17

Answer saved
Marked out of 1.00

Not flaggedFlag question

Question text

The costs incurred to deliver the product from the production unit to the end user. It is a broad
terminology and it includes several costs.

Select one:

a. Target Market

b. Marketing Cost

c. Distribution cost

d. All of the answers correct

Question 18

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Customers understand problems, but they cannot help you to move your product forward.

Select one:

a. Focusing only on customers

b. Focusing only on innovation and the competition.

c. All of the answers correct

d. Focusing only on revenue

Question 19

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text
Fill in the blanks.

Answer

Psychographic

The desire for status, enhanced appearance and more money are examples of this variable.

Question 20

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

It is critical to find a balance between prospects and customers to ensure that your future
revenue is protected, while still keeping existing customers happy.

Select one:

a. Focusing only on innovation and the competition.

b. Focusing only on customers

c. All of the answers correct

d. Focusing only on revenue

Question 21

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Successful entrepreneurs always have the profit margin in sight and know that their business
success is measured by profits.

Select one:

a. Opportunity Recognizers

b. An eye for opportunity

c. Focus on profits

d. Business Plan

Question 22

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

They may sell directly into the market but largely they need to be kept aligned to your strategy.

Select one:

a. Major customers

b. Minor customers

c. Competitors

d. Suppliers

Question 23

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

If I had asked people what they wanted, they would have said faster horses.

Select one:

a. Henry Ford
b. Jonathan Bender

c. J.B. Say

d. Michael Smith

Question 24

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

If your customers enjoy dealing with you, they are likely to buy more. In addition, you can only
tackle problems that customers have if you know what they are.

Select one:

a. What makes them feel good about buying

b. What they expect of you

c. What they think about your competitors

d. What they think about you

Question 25

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Entrepreneurs have strong desire to achieve higher goals.

Select one:

a. An eye for opportunity

b. Silent needs

c. Need to achieve

d. All of the answers correct

Question 26

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

A certain amount of risk is involved in all entrepreneurial ventures, and growth is no different.

Select one:

a. Risk bearing

b. Targeting your market

c. Risk and rewards

d. Choosing that product or service

Question 27

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

How many new businesses fail within 18 months of getting started?

Select one:

a. Thirty-five

b. Three out of five

c. Three

d. Five

Question 28

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

There are those people in society whose ultimate goal is to go into business at some defined
point life no matter how attractive wage employment might seem.

Select one:

a. To fulfill a life-long ambition

b. Inability to secure a desirable job

c. Love for adventure

d. Need to improve personal income

Question 29

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Customer classification depending on profitability.

Select one:

a. Profit tiers

b. Distribution cost

c. Marketing Cost

d. Product Concept

Question 30

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Without developing a core competency, a company may be highly profitable.

Select one:

a. Only for a short period

b. Occasionally

c. No correct answer

d. Long term

Question 31

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

The act of utilizing the promotional mix

Select one:

a. Marketing Cost

b. Process of promotion

c. Profit tiers

d. Distribution cost

Question 32

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

What is/are the thing/s you need to know before you can sell to a potential customer?

Select one:

a. If buying from you would you offer the customer any benefits

b. If the customer is happy with their current supplier

c. All of the answers correct

d. Who the customer's current supplier is

Question 33

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Which of these states the importance of core competencies?

Select one:

a. Indicator that resources are being used in the right places in the right amount

b. Help in the development of core products

c. Both of the given choices are correct

d. No correct answer

Question 34

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

This is not essential, but is normally a great help in thinking through the case for a new business.

Select one:

a. Both of the given choices are correct

b. No correct answer

c. A market research

d. A formal business plan

Question 35
Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Attempt to get an understanding of a specific market segment by questioning eight to 12

members of that group to discover what psychographic and behavioristic factors might motivate
the entire group.

Select one:

a. Interviews

b. Focus groups

c. All of the answers are correct

d. Surveys

Question 36

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

It becomes difficult especially in a service environment where labor as well as time also has a
cost factor associated with it.

Select one:

a. Technical/technology capabilities

b. Calculating cost per customer

c. Opportunity Recognizers

d. Research and Development

Question 37

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

If you know how your customers view your competition, you stand a much better chance of
staying ahead of your rivals.

Select one:

a. What they think about your competitors

b. What they expect of you

c. What makes them feel good about buying

d. What they think about you

Question 38

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Critical to determining attractiveness.

Select one:

a. Growth

b. Ability

c. Risks

d. Duration

Question 39

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

To make a product successful, you must be.

Select one:

a. Both of the given choices are correct

b. Emotionally committed to its success

c. Personally committed to its success

d. Either of the given choices are correct

Question 40

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Fill in the blanks.

Answer

Surveys

Typically, anonymous and try to reach as many members of a target market as possible

Question 41

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Besides the inability to secure any type of employment this is the most basic reason for self-
employment.

Select one:

a. Inability to secure a desirable job

b. Need to improve personal income

c. Love for adventure

d. To fulfill a life-long ambition

Question 42

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Enables you to concentrate on and solve your target market's problems.

Select one:

a. Stated need

b. Outside-in approach

c. Silent need

d. No correct answer

Question 43

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

People who have already purchased your product.

Select one:

a. No correct answer

b. Both of the given choices are correct

c. Existing Customers

d. Customers

Question 44
Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Entrepreneurs are the persons who take decisions under uncertainty and thus they are willing to
take risk, but they never gamble with the results.

Select one:

a. Need to achieve

b. Locus of control

c. Risk bearing

d. No correct answer

Question 45

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Their core competency is said to be content delivery, but they are now venturing into original
content creation too.

Select one:

a. Apple

b. Canon

c. Netflix

d. NEC

Question 46

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

The total cost associated with delivering goods or services to customers.

Select one:

a. All of the answers correct

b. Distribution cost

c. Marketing Cost

d. Target Market

Question 47

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

His definition of entrepreneurship placed an emphasis on innovation.

Select one:

a. Rotte MacClellan

b. M. M. P. AKhouri

c. J.B. Say

d. Joseph Schumpeter

Question 48

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Which of these questions will help you analyze the product or service from the customer's point
of view?
Select one:

a. What does the product achieve, avoid or preserve for the customer?

b. Who is going to sell the product?

c. Is there a real demand for the product at the price you will have to charge?

d. Can you see yourself selling this product or service for the next five to 10 years?

Question 49

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Entrepreneurs believe in their own ability to control the consequences of their endeavor by
influencing their socio-economic environment rather than leave everything to luck.

Select one:

a. Self-confidence

b. Risk bearing

c. Need to achieve

d. Locus of control

Question 50

Answer saved

Marked out of 1.00

Not flaggedFlag question

Question text

Explicit statements from your market that declare, "I want a product to do X".

Select one:

a. Stated Needs

b. Risk and rewards

c. Marketing Effort

d. Market Forecast