ACHIEVEMENT EXAMINATION IN ENTREPRENEURSHIP 12

NAME: _______________________________ DATE: _____________

DIRECTIONS: Choose the letter corresponding to the answer for each of the questions
provided below.
1. What do you call the comprehensive paper that details the situation analysis,
objectives, strategies and tactics, and how to monitor and control the enterprise?
A. Business Plan B. Management plan C. Lesson plan D. Marketing
Plan
3. What is the process of doing so can be modeled in a sequence of steps: the
situation is analyzed to identify opportunities, the strategy is formulated for a
value proposition, tactical decisions are made, the plan is implemented and the
results are monitored?
A. Business B. Management C. Organization D. Marketing
6. What is the process of assessing the viability of a new good or service
through research conducted directly with the consumer which allows a company
to discover the target market and record opinions and other input from consumers
regarding interest in the product?
A. Business Research C. Market Research
B. Organization Research D. Management Research
8. What is the size of the arena where the entrepreneur’s business will play?
A. Class size B. Midpoint C. Market size D. Size chart
9. What is the process of grouping similar or homogeneous customer?
A. Market Segmentation C. Psychographic Segmentation
B. Physical Segmentation D. Social Segmentation
10. What is process of grouping the customers according to their perceptions, way
of life, motivations and inclinations?
A. Market Segmentation C. Psychographic Segmentation
B. Physical Segmentation D. Social Segmentation
12. What is one of the most targeted and practical methods of generating ideas
wherein the researcher uses his or her senses to examine the behavior of target
customers or events in their natural setting or occurrences.
A. Observation B. Preparation C. Solution D. Selection
14. What do you call the percentage of a specific population carefully chosen by
the researcher to generally represent the whole population?
A. Sample B. Target C. Population D. Market
16. What do you call the process of introducing more brands in an existing
product category?
A. Length B. Multi Branding C. Design D. Brand extension
18. What is the result of maintaining customers?
A. Trustworthy B. Loyalty C. Kind D. Courage
20. How can creativity make an entrepreneur better than others?
A. Creativity is the key component in the qualities of an entrepreneur better than
others.
B. Creativity of others cannot invent new ideas.
C. Creativity of others bring challenges in creating new inventions.
D. Creativity creates problems to entrepreneur.
22. Why is market research conducted?
A. Research is conducted to gather information regarding products and services
which are already present in the market.
B. Research do not help entrepreneur to get new ideas regarding and other
features.
C. Research entails lots of work and effort of entrepreneur.
D. Research can produce product with high demand and low supply.
24. How does vision of an entrepreneur help in sensing opportunity?
A. Entrepreneur creatively identify an idea to generate a valuable solution to a
problem.
B. Entrepreneur cannot see opportunity without vision and creativity.
C. Entrepreneur lacks the courage to conquer different opportunity.
D. Entrepreneur cannot produce new product.
26.What term is defined as cost that does not change with an increase or decrease in
the amount of goods or services produced?
A. Fixed Cost B. Quality C. Design D. Brand Extension
28. What do you call the combination of how product looks and how it performs?
A. Length B. Quality C. Design D. Brand Extension
30. What term is defined as the different variations of a product?
A. Length B. Quality C. Design D. Brand
Extension
32. What is the cost that is dependent on the number of units produced or
rendered?
A. Length Cost B. Variable Cost C. Design Cost D. Brand Cost
34. What is the number of different products in a product line?
A. Length B. Quality C. Design D. Brand
Extension
36.What term is defined as the number of product lines that a company offers?
A. Length B. Width C. Design D. Width
38. What is creating new variants to existing products?
A. Line Extension B. Quality C. Design D. Brand Extension
40. What strategy used when a company sells several products into one combined
product at a reduced price?
A. Product bundle pricing C. Captive Product pricing
B. Market penetration D. Line Extension
42. What strategy of pricing a product where there is no loss or gain?
A. Product Bundle Pricing C. Break-even pricing
B. Captive Product Pricing D. Odd-even Pricing
44. What strategy where a company initially offers lower than regular market prices
to enter a market?
A. Odd-even pricing C. Market Penetration
B. Captive Product Pricing D. Product Bundle Pricing
46.What is a psychological pricing method that considers the belief that certain
prices or price ranges are more attractive to buyers?
A. Odd-even pricing C. Market Penetration
B. Captive Product Pricing D. Product Bundle Pricing
48. What strategy used when a company sells products that must be used with the
main product?
A. Product Bundle Pricing C. Odd-even Pricing
B. Market Penetration D. Captive Product Pricing