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I. Multiple choice: (10pts)

Direction: Read the questions carefully and choose the best answer.
1. What is the technique used to gather information and better understand a company’s target market?
a. Market b. market research c. research d. none of the choices
2. What type of market research typically known as desk research and involves seeking out existing research and
data.
a. secondary research b. one-to-one interview c. survey d. Focus group
3. What form of market research where you ask open ended question to small group of people?
a. secondary research b. one-to-one interview c. survey d. Focus group
4. What method of customer profiling defines the customer’s motivations, perceptions, preferences, and lifestyle
a. demographics b. psychographic c. techno graphics d. socio economics
5. What type of market is the tangible good or the intangible service that the enterprise offers to its customers in
order to satisfy their needs and to produce their expected results?
a. Product b. place c. promotion d. packaging
6. What is the ultimate market strategy among the 7’Ps?
a. Product b. people c. promotion d. price
7. What major factors for the customers in buying a product, and it is not the only factor such as in the case of
buying premium products?
a. Product b. people c. promotion d. price
8. Which of the following choices is not belong to the type of products?
a. Breakthrough b. niche c. cache d. copycat
9. Which of the following is not important purposes of packaging?
a. Packaging identifies the product, describes its features and benefits and complies with government rules on
specifying its contents, weight, chemical composition, and potency.
b. Packaging differentiates the product from its competitors and even from its other brand offering.
c. Packaging not lengthens the lifespan, physically protects and extends the usefulness of the product.
d. Packaging has become an environmental issue by itself.
10. What method of customers profiling refers to classifying people by their social, economic and educational
status?
a. demographics b. psychographic c. techno graphics d. socio economics

II. MODIFIED TRUE or FALSE (30pts)

Directions: Type TRUE if the statement is correct, otherwise type the word that make the statement incorrect. USE
CAPITAL LETTERS ONLY
___________1. Entrepreneurs estimate demand for their products and services by identifying
___________2. Understanding your customers allows you meet customer demands.
___________3. Demographics describe a group of people in terms of their taste opinions, personality trait and lifestyle
habit.
___________4. A customer profile should include demographic data but not psychographic data.
___________5. A market is a place where people buy their needs.
___________6. Focus groups are quick interviews with target customers.
___________7. Secondary data are found in already published sources.
___________8. Perception is the way a person chooses to receive or interpret information from the external world.
____________9. Customer profiling is not the practice of organizing customers into specific groups possessing similar
goals.
____________10. Testing focuses on learning about people’s experience.
 ____________11. Observation is the most insightful type of market research.
____________12. In drafting your questionnaire, identify the key information you will have to ask from your
respondents.
____________13. Pricing depends on the business objectives set by the enterprise
____________14. Market research is a place where buyers and sellers can meet to facilitate the exchange or
transaction of goods and services.
____________15. The second step in conducting survey is develop the research objectives.

III. Identification (10pts)

Directions: Identify what is being asked about the types of entrepreneurial mind. Read and analyze carefully
the question.

_____________1. What refers to a specific state of mind which orientates human conduct towards entrepreneurial
activities and outcomes?

_____________2. What type of entrepreneurial mind that conceptualizes and designs a products that consumers find
some use for?

_____________3. What type of entrepreneurial mind that also called as a technology originator?

_____________4. What type of entrepreneurial mind that harnesses the potentials of new products by creating the market
space for them.

_____________5. How many types of entrepreneurial mind have?

IV. Fill in the blanks (20pts)

Directions: Read each statement carefully and fill in the blank (s) with the correct answer. Answers may be
more than one word.
1. The ________ and the________ people behind the business and why these people have the resources, talents,
skills, and technology to achieve success.
2. The ________being targeted and why there is enough market potential to justify the _______.
3. The ___________ to be offered and why they are right for the market
4. How the business will be operated and organized, including all ____________, ___________, franchising, and
licensing agreements
5. The ____________ required for the business and what exactly it would be used for.
6. The ___________, ___________, the equipment, and materials suppliers to be utilized
7. The ____________ (short and long term debt, stockholders’ equity) of the business
8. The operating budget, ____________ (income statement, balance sheet, cash flow), and return on investment
prospects
9. The _______ in the business and the contingency measures to counteract them
10. The entrepreneur must be very ________ about the purpose in establishing the enterprise.

V. Matching type (10pts)

Directions: Match the entrepreneurial competencies in column A with their meaning in column B. Type the
letter of the correct answer on the space provided before each number.

______1. Creative A. Makes wise decision towards te set objectives

______2. Profit-oriented B. strategic thinking and setting of goals
______3. Disciplined C. trusting in one’s ability
______4. Sound decision maker D. adoptable to change
______5. Possess people skills E. innovates to have an edge over other competitors
______6. Excellent Planner F. solid dedication
______7. Confident G. skillful in record keeping
______8. Hardworking H. always sticks to the plan
______9. Ability to accept challenge I. work diligently
_______10. Committed J. effective and efficient communication
K. always looking for an opportunity to have/earn income.