EUGENIA ANDRIN NATIONAL HIGH SCHOOL

Kapamanok, San Pablo, Zamboanga del Sur

SENIOR HIGH SCHOOL DEPARTMENT
ENTREPRENEURSHIP
MIDTERM Examination

Name:______________________________ Sec: _________________ Date:______________ Total Score:___________

Multiple Choice
Direction: Choose the correct answer and blacken the circle corresponding to the letter of your choice. Strictly no erasures.
Illustrative example
ab cd
O O O O 1. Which function describes the form f(x) = mx + b?
a. quadratic b. linear c. cubic d. square
a b cd
O O O O 1. Market research is defined as
a. Data found in already published sources.
b. System for collecting, recording, and analyzing information about customers, competitors, goods, and services.
c. Information collected for the very first time to fit a specific purpose, such as questionnaire or survey,
observation, and focus group.
d. Individuals or companies that are interested in a particular research and willing and able to conduct the
research.
O O O O 2. There is Unique Selling Proposition when individuals or companies use
a. Strategy of selling a product or service by concentrating on the common features of the product.
b. Strategy of differentiating a product or service by focusing on the communal specification that are offered by the
competitors.
c. Technique of selling a product or service by focusing on the features of the product offered by the competitors.
d. Strategy of differentiating a product or service by concentrating on unique features that are not offered by
competitors.

O O O O 3. We can say that there is market when _____________.

a. There are buyers and sellers only.
b. Buyers and sellers come together to obtain information and exchange commodities.
c. There is something tangible, that has value and can be exchanged.
d. There are actors that have a role in the distribution and transformation of the commodity.

O O O O 4. The 7P’s of Marketing is the acronym of __________________.

a. Product, Praise, Place, Promotion, People, Positioning, Packaging
b. Product, Price, Palace, Promotion, People, Process, Packaging
c. Product, Price, Place, Promotion, People, Positioning, Packaging
d. Product, Price, Place, Promotion, People, Process, Practice

O O O O 5. What could be the reason for the development of marketing mix?

a. The marketing mix was developed for the fast moving consumer goods sector.
b. The marketing mix was developed for the slow moving consumer goods sector.
c. The marketing mix was developed for the slow moving consumer services sector.
d. The marketing mix was developed for the fast moving consumer services sector.

O O O O 6. “Place” in the 7P’s of marketing mix is the same as:

a. Promotion
b. People
c. Distribution
d. Demand

O O O O 7. A business wishes to meet the needs and wants of customers by delivering a higher quality service. Which element of
marketing mix will be the focus to achieve this?
a. Price
b. Product
c. Place
d. Promotion
O O O O 8. Refers to a product’s status in relation to the wider market, particularly how it lines up against competitors.
a. Positioning
b. Place
c. Promotion
d. Price

O O O O 9. Which of the following best describe MARKET SEGMENTS?

a. Group of customers within a large market who share common characteristics.
b. Group of sellers within a large market who share common characteristics.
c. Group of people within a community who share common characteristics.
d. Group of suppliers within a market who share common characteristics.

O O O O 10. Which of the following shows a promotion in marketing mix?

a. Buy-One-Get-One-Free
b. Product Features
c. Product Specifications
d. Packaging

O O O O 11. What is the importance of marketing in the business industry?

a. Marketing is important in the business industry for it includes choosing target markets, through market analysis and
market segmentation, as well as understanding consumer behavior.
b. Marketing is important in the business industry for it communicates the value of a product, service or brand to
customers, for the purpose of promoting or selling that product, service or brand.
c. Marketing is important in the business industry for it establishes relationship of the company towards the consumers
through the value of its product, service or brand.
d. Marketing is important in the business industry for it determines the amount of profit of the business that will be able
to make from it.

O O O O 12. What was the main idea that a USP is all about?
a. It consider the needs and wants of your most probable clients.
b. It confidently communicate the disadvantage of doing business with you.
c. It consider only the needs of your most probable clients.
d. It consider the best within you for your most probable clients.

O O O O 13. Choose the ingredients of product mix:

I. Advertising
II. Public Relation
III. Promotional Market
IV. Sales Promotion
a. I, II, III, IV
b. I, II, IV
c. I, II, III
d. II, III, IV

O O O O 14. The effect of understanding our competition is, it help us ______________.

a. define our target product.
b. define our target market.
c. find our perfect buyer.
d. to eliminate our competitors.

O O O O 15. Which of the following value propositions below is/are effective?

I. Google is the world’s largest search engine that allows internet users to find relevant information
quickly and easily.
II. Google uses a patented page-ranking algorithm to make money through ad placement.
a. a. I only
b. II only
c. I and II
d. None of the above

O O O O 16. Value proposition in the business parlance means _______________.

a. Strategy of differentiating a product or service by concentrating on unique features that are not offered by
competitors.
b. A statement that establish how important it is to the customer.
c. A statement that explains our product offering and its value to our customer/
d. Strategy of selling a product or service by concentrating on the common features of the product.
O O O O 17. In a rental car business, which of the following situations below that defines, qualify and fall into the definition of target
market?
a. Drivers in the available market who have valid licenses and meet minimum or maximum age restrictions.
b. Drivers in the qualified available market who need to travel from airports to final destinations in the area.
c. Any driver who can afford the rental fees and is in the area served by rental-car services
d. Drivers in the target market who have previously rented cars.

O O O O 18. Can you distinguish between economic want and economic need?
a. An economic want is an unfilled desire of a customer while an economic need is anything that is required to live.
b. An economic want is anything that is required to live while an economic need is unfilled desire of a customer.
c. An economic want is a filled desire of a customer while an economic need is anything that is required to be happy.
d. An economic want is fulfilment of desire of a customer while an economic need is anything that you need for life.

O O O O 19. In understanding the markets and customers, which of the following statistical methods below are applicable?
I. Regression Analysis
II. Averages
III. Exponential Smoothing
IV. Interview
V. Survey
VI. Models
a. I, II, III, IV
b. I, II, IV, V
c. II, III, IV, VI
d. I, II, III, VI

O O O O 20. Can you explain what must have happened when there is a MARKET INTEGRATION?
a. When markets are integrated, the demand of food adjusts spatially to encounter the supply.
b. In integrated markets, a decrease in prices due to a large local purchase of food would signal traders to bring in
more supply, bringing prices back up.
c. When markets are integrated, the supply of food adjusts spatially to meet demands.
d. In integrated markets, a weak information and infrastructure and high transport and marketing costs, supply will flow
in the market.

O O O O 21. What is secondary data?

a. Data found in the survey performed.
b. Data found in the outcomes of FGD.
c. Data found in already published sources.
d. Data found in your place.

O O O O 22. How can you validate the customer-related concerns in your business?
a. You can validate the customer-related concerns through interview, FGD, and survey.
b. You can only validate the customer-related concerns through online.
c. You can validate the customer-related concerns through e-mail and social media.
d. You can only validate the customer-related concerns through phone calls.

O O O O 23. What is target market?

a. A specific group of consumers at which a company aims its products and services.
b. A specific community at which a company sell their products and services.
c. A specific tribe at which a company wants to sell its products and services.
d. A specific group of consumers at which company buy their supply.

O O O O 24. Choose the basic reasons below why people buy things:
I. To satisfy basic needs
II. To satisfy hunger
III. To solve problems
IV. To make themselves feel good
a. I, II, III, IV
b. I, II, III
c. I, III, IV
d. I, III
O O O O 25. We can say that the market is functioning inefficiently when ___________________.
a. goods flow into the market in times of deficit and out in times of surplus.
b. the costs of moving commodities in and out of markets are greater than the marginal profit received to do so.
c. when the cash flow into the market in times of surplus and out in times of deficit.
d. the costs of moving commodities in and out of markets lesser than the marginal profit received to do so.

O O O O 26. KC conducted a survey about COCO BRANDY in a random barangay in the Municipality of San Pablo. KC found out
that majority of the population don’t like to drink coconut wines. In the survey performed by KC, what is the classification of
data that KC get?
a. Random data
b. Primary data
c. Secondary data
d. Biodata

O O O O 27. Which of the following statements best describes the word BENEFIT in crafting USP and Value Proposition?
a. How it relieves a problem or fulfills a desire for the customer.
b. Refers to the tech specifications – what’s in the box.
c. What it does better than the competition
d. Establish how important it is to the customer.

O O O O 28. The market is said to be functioning well when _____________.

a. goods flow into the market in times of deficit and out in times of surplus.
b. the costs of moving commodities in and out of markets are greater than the marginal profit received to do so.
c. the cash flow into the market in times of surplus and out in times of deficit.
d. the costs of moving commodities in and out of markets lesser than the marginal profit received to do so.

O O O O 29. Which of the following correctly illustrates the Market Chain commodities flow from producers to consumers?
a. Farmer→Processor→Retailer→Wholesaler→Customer
b. Processor→Farmer→Wholesaler→Retailer→Customer
c. Farmer→Wholesaler→Wholesaler→Processor→Customer
d. Farmer→Processor→Wholesaler→Retailer→Customer

O O O O 30. Which of the following value propositions below is/are effective?

I. Winners is an off-price department store owned by TJX that employs international sourcing and
buying power.
II. Winners is a department store that offers fashion-conscious consumers the latest brand names for
up to 60% off
a. I only
b. II only
c. I and II
d. None of the above