ENTREPRENEURSHIP REVIEWER

1. In developing a brand name, what strategy are products or services brand shall
be representing?
a) product information c) market information
b) trademark criteria d) brand name objectives

2. What should the brand name accomplish in the minds of consumers?

a. trademark criteria c. product information
b. market information d. brand name objectives

3. Who are the target markets that the brand will be catering to?
a. trademark criteria c. product information
b. market information d. brand name objectives

4. This refers to the name that should it have a distinctively Filipino flair or should it
be more global in nature?
a. trademark criteria c. product information
b. market information d. brand name objectives

5. What term is refers to a brand name that can be name of people such as the
founders or even historical people?
a. eponyms c. descriptive
b. synthetic d. symbolic or image-driven

6. Which means that the brand name is not a dictionary word but is instead an
invented one?
a. eponyms c. descriptive
b. synthetic d. symbolic or image-driven

7. The following are steps to develop a brand name except.

a. create the name
b. develop the Brand Strategy
c. develop the Creative Theme
d. the name speaks of what it promise to deliver
8. If the brand was a person, what would be its personality?
a. font c. brand personality
b. visual cues d. inferences and connotations

9. These are medium and material that has its own particular characteristic and can
have an effect on the overall response to branding efforts.
a. font c. acceptable uses and materials
b. visual cues d. inferences and connotations

10. This refers to the registered name of the product to be known.

a. logo c. visual cues
b. trade name d. generic category

11. Which type of product is typically associated with brand loyalty and repeat
purchases?
a) Convenience products c) Specialty products
b) Shopping products d) Unsought products

12. What characterizes convenience products?

a) They are luxury items that cater to a niche market.
b) They are products that consumers are unaware of or do not actively seek to
purchase.
c) They are low-involvement products that are purchased frequently and with
minimal effort
 d) They are products that require extensive research and comparison before
purchase.

13. What is an example of an unsought product?

a) Groceries and everyday household items
b) Designer clothing and luxury accessories
c) Electronic gadgets and appliances
d) Funeral services and life insurance policies

14. What is a pricing approach?

a) The method used to set the price of a product or service
b) The process of determining the target market for a product or service
c) The analysis of competitors' pricing strategies
d) The calculation of production costs and expenses

15. What is cost-based pricing?

a) Setting a price based on competitors' pricing strategies
b) Setting a price that covers all costs and adds a desired profit margin
c) Setting a price based on the perceived value of the product to the customer
d) Setting a price that matches the market average

16. What is buyer-based pricing?

a) Setting a price based on the cost of production
b) Setting a price based on competitors' prices
c) Setting a price based on the perceived value to the buyer
d) Setting a price that covers all costs and adds a desired profit margin

17. What is perceived value pricing?

a) Setting a price based on competitors' prices
b) Setting a price based on the cost of production
c) Setting a price based on the value that customers perceive the product or
service to have
d) Setting a price that covers all costs and adds a desired profit margin

18. What factors influence perceived value pricing?

a) Production costs and expenses
b) Competitors' prices and market trends
c) Customer preferences, needs, and the benefits provided by the product or
service
d) The desired profit margin and financial goals

19. What is the price-quality relationship in pricing?

a) The relationship between the price of a product and its production costs
b) The relationship between the price of a product and the quality customers
perceive it to have
c) The relationship between the price of a product and the market demand for it
d) The relationship between the price of a product and the average price of similar
products in the market

20. How does odd-numbered pricing contribute to price perception?

a) It creates the perception of precision and quality
b) It creates the perception of cost-effectiveness and savings
c) It creates the perception of higher pricing
d) Odd-numbered pricing has no impact on price perception
21. What is the augmented product?
a) The core benefits and features of the product
b) The tangible components of the product, such as packaging and design
c) The additional services, warranties, or support offered with the product
d) The intangible aspects of the product, such as the brand image and reputation

22. How does the core product differ from the actual product?
a) The core product includes all physical and intangible attributes, while the
actual product focuses only on physical features
b) The core product represents the basic functionality and benefits, while the
actual product encompasses the physical attributes and features
c) The core product emphasizes the brand image and emotional connection, while
the actual product focuses on the tangible aspects
d) The core product and actual product are synonymous terms and represent the
same concept

23. What is an example of the core product for a smartphone?

a) The design and aesthetics of the smartphone
b) The advanced features and technology incorporated in the smartphone
c) The ability to communicate and stay connected with others
d) The warranty and customer support provided by the smartphone manufacturer

24. How does the augmented product add value to the customer?
a) By providing additional physical features and attributes
b) By offering superior customer service and support
c) By incorporating advanced technology and innovation
d) By enhancing the emotional appeal and brand image of the product

25. How does the augmented product contribute to customer satisfaction?

a) By delivering superior performance and functionality
b) By providing additional features and services that meet customer needs
c) By creating an emotional connection and brand loyalty
d) By offering competitive pricing and discounts

26. What are the four classifications of consumer products?

a) Convenience products, shopping products, specialty products, unsought
products
b) Basic products, advanced products, luxury products, niche products
c) Core products, tangible products, intangible products, augmented products
d) Primary products, secondary products, tertiary products, quaternary products

27. Which type of product is typically purchased frequently and with minimal effort?
a) Convenience products
b) Shopping products
c) Specialty products
d) Unsought products

28. Which type of product is unique and appeals to a specific target market with
distinctive tastes or preferences?
a) Convenience products
b) Shopping products
c) Specialty products
d) Unsought products

29. How are unsought products defined?

a) Products that are difficult to find in the market.
b) Products that are purchased frequently and with minimal effort.
c) Products that are purchased when a sudden problem must be solved
 d) Products that are heavily promoted and marketed.

30. Which type of product requires significant marketing efforts to create consumer
awareness and generate demand?
a) Convenience products
b) Shopping products
c) Specialty products
d) Unsought products

31. Human wants that are backed by buying power.

a. need
b. wants
c. motives
d. demands

32. It is referred to the ability of the business measured by its long-term survival
and its ability to sustain profits over a period of time.
a. profit
b. sales
c. viability
d. profitability

33. The degree to which a business or activity yields profit or financial gain.
a. profit
b. sales
c. viability
d. profitability

34. What is the purpose of the product element in the marketing mix?
a) To develop and offer products that meet customer needs and
b) To determine the pricing strategies for a product
c) To identify the target market for a product
d) To analyze the competitors' marketing activities

35. How does the price element of the marketing mix contribute to marketing
strategy?
a) It helps businesses evaluate their financial performance
b) It determines the market share of a company
c) It influences the perceived value of a product and impacts customer purchasing
decisions
d) It influences the product design and development process

36. What is the purpose of the promotion element in the marketing mix?
a) To establish the distribution channels for a product
b) To identify potential suppliers for a product
c) To determine the advertising budget for a business
d) To communicate and promote the value of a product or service to the target
market
d)

37. How does the place element of the marketing mix contribute to marketing
strategy?
a) It helps businesses evaluate customer satisfaction levels
b) It involves selecting and managing the distribution channels to make products
available to customers
c) It determines the market demand for a product or service
d) It influences the pricing decisions for a product
38. What are the three levels of a product?
a) Core product, augmented product, extended product
 b) Core product, actual product, augmented product
c) Basic product, tangible product, intangible product
d) Primary product, secondary product, tertiary product

39. What does the core product represent?

a) The physical features and attributes of a product
b) The basic functionality and benefits that a customer seeks from the product
c) The additional features and services that enhance the product
d) The emotional connection and brand image associated with the product

40. How is the actual product defined?

a) The essential attributes and physical form of the product
b) The intangible benefits and experiences associated with the product
c) The additional features and services provided alongside the product
d) The core functionality and performance of the product

41. What is the purpose of conducting market research on customers?

a) To identify potential suppliers for a business
b) To analyze the competitive landscape in the industry
c) To gather information about customer preferences, behavior, and demographics
d) To establish pricing strategies for products or services

42. What is the significance of building strong customer relationships?

a) It helps businesses generate more revenue from existing customers
b) It increases customer loyalty and encourages repeat purchases
c) It allows businesses to lower their production costs
d) It minimizes the need for marketing and advertising efforts

43. How does customer feedback contribute to business improvement?

a) It helps identify potential investors for a business
b) It allows businesses to evaluate their financial performance
c) It provides insights into areas where products, services, or processes can be
enhanced
d) It determines the marketing and advertising strategies for a business

44. What is business competition?

a) Collaboration between companies in the same industry
b) The rivalry among companies that offer similar products or services
c) The partnership between a company and its suppliers
d) The comparison of prices between different businesses

45. What is the purpose of conducting market research in the development of a

marketing strategy?
a) To determine the profitability of a product or service
b) To evaluate the financial performance of a business
c) To gather information about customer needs, preferences, and market trends
d) To establish the distribution channels for a product

46. What does the term "target market" refer to in the context of marketing strategy?
a) The total number of customers in a specific industry
b) The group of customers to whom a business directs its marketing efforts
c) The geographic location where a product is sold
d) The list of potential customers in a company's database

47. How is gross profit calculated?

a) Total revenue minus total expenses
 b) Net income divided by total assets
c) Total revenue minus cost of goods sold
d) Operating expenses minus depreciation

48. What does return on investment (ROI) measure in terms of business

profitability?
a) The total revenue generated by a business
b) The financial performance of a business over a specific period
c) The profitability relative to the amount of investment made
d) The market share of a company in the industry

49. What does the break-even point represent?

a) The level of sales needed to achieve a specific profit target
b) The total revenue a business needs to generate to cover all costs
c) The number of customers a business needs to attract to start making a profit
d) The point where total profit equals total expenses

50. Refer to a specific group of consumers at which a company aims its products
and services.
a. market c. market research
b. target market d. market segmentation

51. What does the term "product viability" refer to?

a) The cost of manufacturing a product
b) The popularity of a product among consumers
c) The ability of a product to generate revenue and sustain profitability
d) The physical appearance of a product

52. Which factor is NOT typically considered when assessing product viability?
a) Market demand c) Manufacturing efficiency
b) Competition d) Product color

53. Which of the following is a key indicator of product viability?

a) Positive customer feedback and reviews
b) A high number of product features
c) Extensive marketing campaigns
d) Low production costs

54. What role does market research play in determining product viability?
a) It helps identify customer needs and preferences, allowing for better product
development
b) It focuses on cost analysis and profit margins
c) It determines the physical attributes of a product
d) It sets the pricing strategy for a product

55. Which of the following is a potential risk to product viability?

a) Strong brand recognition c) Effective supply chain management
b) Limited market reach d) High customer satisfaction

56.How can customer feedback contribute to assessing product viability?

a) Customer feedback is irrelevant in evaluating product viability
b) Positive customer feedback indicates strong product viability
c) Negative customer feedback has no impact on product viability
d) Customer feedback only affects marketing strategies, not product viability
57. Which of the following is an example of a viable product?
a) A product with high production costs and low demand
b) A product that consistently generates revenue and profit
c) A product with limited market exposure and low customer satisfaction
d) A product that requires extensive marketing efforts to gain traction

58. Which of the following is an example of an external source of funds for a

business?
a) Bank loan c) Retained earnings
b) Venture capital investment d) Initial public offering (IPO)

59. Which of the following is an example of an internal source of funds for a

business?
a) Trade credit c) Family loans
b) Personal savings d) Crowdfunding

60. What is the definition of a customer?

a) An individual who works for a company
b) A person who purchases goods or services from a business
c) A competitor in the same industry
d) An employee of a supplier