SAGOT SA ENTRE EXAM

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

Select one:

a. Minor customers

b. Major customers

c. Competitors

d. Suppliers

Question 2

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

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

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Fill in the blanks.

Answer

Psychographic

The desire for status, enhanced appearance and more money are examples of this variable.
Question 4

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Fill in the blanks.

Your target market should be measurable, sufficiently large and Answer

reachable

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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. All of the answers correct

c. If the customer is happy with their current supplier

d. Who the customer's current supplier is

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

Select one:

a. Silent need
b. Outside-in approach

c. No correct answer

d. Stated need

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Critical to determining attractiveness.

Select one:

a. Duration

b. Growth

c. Ability

d. Risks

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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. Locus of control

b. Need to achieve

c. Risk bearing

d. No correct answer

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

Select one:

a. Risk and rewards

b. Stated Needs

c. Market Forecast

d. Marketing Effort

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The interaction with competitors is usually directly

Select one:

a. Friendly

b. Hostile

c. Pleasant

d. Antagonistic

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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 you

b. What makes them feel good about buying

c. What they think about your competitors

d. What they expect of you

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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

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Customer classification depending on profitability.

Select one:

a. Product Concept

b. Distribution cost

c. Profit tiers

d. Marketing Cost

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People in your target market who are not currently looking for a solution.

Select one:

a. Target market users

b. Market Segment

c. Long-term competitive advantage

d. Strategic Mindset

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Entrepreneurs have strong desire to achieve higher goals.

Select one:

a. Silent needs

b. An eye for opportunity

c. All of the answers correct

d. Need to achieve

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The act of utilizing the promotional mix

Select one:

a. Process of promotion

b. Marketing Cost

c. Distribution cost

d. Profit tiers

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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. Focus on profits

c. An eye for opportunity

d. Business Plan

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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 19

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

Select one:

a. Michael Smith

b. Henry Ford

c. J.B. Say

d. Jonathan Bender

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To succeed as an entrepreneur, you must develop the ability to select and offer the right products or
services to your customers.

Select one:

a. All of the answers correct

b. In a competitive market

c. In any market available

d. In the right market

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

Select one:

a. No correct answer

b. Both of the given choices are correct

c. A formal business plan

d. A market research

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In Entrepreneurship, you may become stressed. Why?

Select one:

a. Both of the given choices are correct

b. No correct answer

c. You manage expansion

d. You manage cash flow

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

Select one:

a. Long term

b. Only for a short period

c. Occasionally

d. No correct answer
Question 24

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

Select one:

a. Lead

b. Iron

c. Platinum

d. Gold

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Your skill at this is critical to your success.

Select one:

a. Customer

b. Target market users

c. Existing Customers

d. No correct answer

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

Select one:

a. Thirty-five

b. Three out of five

c. Five

d. Three

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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. Opportunity Recognizers

c. Research and Development

d. Calculating cost per customer

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Fill in the blanks.

If you have a retail outlet, you have the means of distributing a customer comment card or Answer

questionnaire

.
Question 29

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Fill in the blanks.

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demographic

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

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People who have already purchased your product.

Select one:

a. Customers

b. Both of the given choices are correct

c. Existing Customers

d. No correct answer

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

Select one:

a. Iron

b. Platinum

c. Lead

d. Gold

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Outsourcing can give short term

Select one:

a. Core Capabilities

b. Competitive Advantage

c. Technical Capabilities

d. Core Competency

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

Select one:

a. Focusing only on innovation and the competition.

b. Focusing only on customers

c. Focusing only on revenue

d. All of the answers correct

Question 34

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

Select one:

a. Marketing Cost

b. All of the answers correct

c. Target Market

d. Distribution cost

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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 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

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Helps in growing branches of different businesses and then these businesses grow products as fruit.

Select one:

a. Core competency trunk

b. Long-term competitive advantage

c. No correct answer

d. Choosing that product or service

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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. Business Reporter

d. Sales

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Which of these states the importance of core competencies?

Select one:

a. No correct answer

b. Help in the development of core products

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

d. Both of the given choices are correct

Question 39

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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

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Entrepreneurs are always alert to opportunities.

Select one:

a. Stability and structure

b. Opportunity Recognizers

c. An eye for opportunity

d. Stated needs

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

Select one:

a. Need to improve personal income

b. Inability to secure a desirable job

c. To fulfill a life-long ambition

d. Love for adventure

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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. Focus groups

b. All of the answers are correct

c. Interviews

d. Surveys

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The most important advantage of having core competencies is having this.

Select one:

a. No correct answer
b. Long-term competitive advantage

c. Core competency trunk

d. Choosing that product or service

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

Select one:

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

b. Who is going to sell the product?

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

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

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

Select one:

a. Math to business

b. History to innovation

c. Literature to persuasive advertising

d. All of the answers are correct

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What are things you need to know about your customers?

Select one:

a. Both of the given choices are correct

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

c. Either of the given choices are correct

d. Who they are, what they do,

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Which of these is a factor to consider before going into self-employment?

Select one:

a. Business Idea

b. Raw Materials

c. Legal Issues

d. All of the answers correct

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Problems with yet undefined solutions.

Select one:

a. No correct answer

b. Silent Needs
c. Both of the given choices are correct

d. Stated Needs

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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. Marketing Cost

b. Target Market

c. Distribution cost

d. All of the answers correct

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Fill in the blanks.

Answer

Surveys

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

Your projections should be

Select one:
a. Realistic in-between
b. All of the answers correct
c. Overly optimistic best-case scenarios
d. Overly cautious worst-case scenarios

A great equalizer for the cash-strapped entrepreneur.

Social media
Answer:

Most customers think of you in terms of a single attribute, either positive or negative.
Attribution theory
Answer:

Cost of goods, commissions or discounts, variable and fixed expenses.

Select one:
a. Business expenses
b. Gross profit
c. Fixed assets
d. Current liabilities

Which of these is a key financial statement?

Select one:
a. Balance sheet
b. All of the answers correct
c. Income statement
d. Cash flow statement
A document that records a business dealing.
business record
Answer:

Many business owners think of bookkeeping as

Select one:
a. Essential to business
b. Unwelcome chore
c. No correct answer
d. Both of the given choices are correct

This step reviews the sales, costs and profit projections of the new product to decide if the
organizational goals are met.
Select one:
a. Test Market
b. Commercialize
c. Product Development
d. Business Analysis

Measures all your revenue sources vs. business expenses for a given time period.
income statement
Answer:

The marketing of goods or services by means of telephone calls, typically unsolicited, to

potential customers.
telemarketing
Answer:

Give the character depth and be genuine.

Select one:
a. Listen, do not just talk
b. Ask, do not tell
c. Be real, and have a story
d. Be interesting, and give
All material needed to clean and package are always available and are placed to minimize
effort.
Select one:
a. False
b. True

A physical product is developed.

Select one:
a. Commercialize
b. Test Market
c. Business Analysis
d. Product Development

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If you need to choose a great brand name for your product, service or business, start by
considering the importance of the name in this.
branding efforts
Answer:

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Shows the company's real bottom line.
Select one:

a. Operating expenses
b. Income
c. Net profit after taxes
d. Cost of goods

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The 4P's of marketing has no weaknesses.
Select one:
a. False
b. True

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To succeed, you need to know this about your brand.
true perception
Answer:

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This is the biggest cost of all for many businesses.
Select one:
a. Payroll Expenses
b. Accounts Payable
c. Accounts Receivable
d. Loans Payable

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This figure represents the amount of income earned by the business before paying taxes.
Select one:
a. Costs of goods sold
b. Operating expenses
c. Net profit before taxes
d. Net profit after taxes

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Implies the person behind the brand name has a credibility to be in this business, a pride of
workmanship and a moral standard.
family name
Answer:

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The most successful companies pick this from which they know their brands can win.
competitive position
Answer:

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The set of controllable, tactical marketing tools that a company uses to produce a desired
response from its target market.
marketing mix
Answer:

Every business needs a reason for their customers to buy from them and not their
competitors.
Unique Sales propositon
Answer:

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The marketing mix can be divided into four groups of variables commonly known as the four
P's.
Select one:
a. True
b. False

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The best suppliers will want to talk with you regularly to find out what needs you have and
how they can serve you better.
Select one:
a. False
b. True

The beliefs or opinions that are generally held about someone or something.
reputation
Answer:

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Which of these is an example of a bookkeeping account?
Select one:
a. All of the answers correct
b. Loans Payable
c. Accounts Receivable
d. Accounts Payable

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The most effective financial budget includes both a short-range, month-to-month plan for at
least a calendar year and a long-range, quarter-to-quarter plan of at least three years that
you use for financial statement reporting. It should be prepared during the two months
preceding the fiscal year-end to allow ample time for sufficient information gathering.
Select one:
a. True
b. False

Designed to convert the accrual basis of accounting used to prepare the income statement
and balance sheet back to a cash basis.
cash flow statement
Answer:
A specific, defined series of activities used in marketing a new or changed product or
service, or in using new marketing channels and methods.
Marketing campaign
Answer:

Includes all the ways you tell your customers about your products or services and how you
then market and sell to them
Select one:
a. Advertisement
b. Convergent
c. Production
d. Promotion

What you plan to sell, and what will convince people to buy.
Select one:
a. Gross margin model
b. Operating model
c. Revenue model
d. Working capital model

A set of activities that a firm operating in a specific industry performs in order to deliver a
valuable product or service for the market.
value chain
Answer:

Marketing Strategy is designed to meet the company's marketing objectives by providing its
customers with value.
Select one:
a. True
b. False
Designed to meet the company's marketing objectives by providing its customers with
value.
Marketing Strategy
Answer:

An increase in prices can cause sales to drop.

Select one:
a. False
b. True

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Hear the conversation first, and then participate.
Select one:
a. Be real, and have a story
b. Be interesting, and give
c. Listen, do not just talk
d. Ask, do not tell

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A written report of the financial condition of a firm.
Financial statement
Answer:
Designed to meet the company’s marketing objectives by providing its customers with
value.
Marketing Strategy
Answer:

Discovered the most important factor applied by the best companies was that they first "got
the right people on the bus and the wrong people off the bus."
Select one:
a. Jack Trout
b. Al Reis
c. Jim Collins
d. Thomas J. Watson, Sr.

This step reviews the sales, costs and profit projections of the new product to decide if the
organizational goals are met.
Select one:
a. Business Analysis
b. Commercialize
c. Test Market
d. Product Development

Budgeting only the income statement also allows a full analysis of the effect of potential
capital expenditures on your financial picture.
Select one:
a. True
b. False

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The most successful companies pick a competitive position from which they know their
brands can survive.
Select one:
a. False
b. True

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Hear a person's need, and then share expertise in a personal way that is motivated other
than to help.
Select one:
a. Be interesting, and give
b. Have a payoff, and say thank you
c. Ask, do not tell
d. Be interested, and respond
Provides a snapshot of the business's assets, liabilities and owner's equity for a given time.
balance sheet
Answer:

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Include all overhead and labor expenses associated with the operations of the business.
Select one:
a. Cost of goods
b. Income
c. Gross profit margin
d. Operating expenses

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Which of these should be included in your financial statements?
Select one:
a. Income statement
b. Balance sheet
c. Cash-flow statement
d. All of the answers correct

It is important to protect your name to the appropriate degree.

Protect your brand name
Answer:

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Things that change based on the amount of product being made and are incurred as a direct
result of producing the product.
Production cost
Answer:

PUTANG ITA MO AAHAHAHAHAHHAHA

demographic

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

Question 2

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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

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

Select one:

a. Competitors

b. Complementors

c. Influencers

d. Substitutors

Question 4

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

Select one:

a. Gold

b. Iron

c. Platinum

d. Lead

Question 5

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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

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Fill in the blanks.

Your target market should be measurable, sufficiently large and

Answer

reachable

Question 7

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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

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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

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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

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Outsourcing can give short term

Select one:

a. Core Capabilities

b. Core Competency

c. Competitive Advantage

d. Technical Capabilities

Question 11

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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

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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

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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

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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

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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

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

a. Netflix

b. NEC

c. Apple

d. Canon

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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

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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

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Fill in the blanks.

Answer

Psychographic

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

Question 20

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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

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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

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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

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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

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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

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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

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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

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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

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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

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Customer classification depending on profitability.

Select one:

a. Profit tiers

b. Distribution cost

c. Marketing Cost

d. Product Concept
Question 30

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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

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The act of utilizing the promotional mix

Select one:

a. Marketing Cost

b. Process of promotion

c. Profit tiers

d. Distribution cost

Question 32

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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

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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

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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

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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

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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

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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

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Critical to determining attractiveness.

Select one:

a. Growth

b. Ability

c. Risks

d. Duration
Question 39

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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

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Fill in the blanks.

Answer

Surveys

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

Question 41

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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

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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

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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

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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

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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

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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

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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

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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?

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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

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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

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