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Nigerians are an enterprising people and citizens have made their mark in diverse fields
such as science, technology, academics, business and entertainment. The following are
some of the major hinderances faced by entrepreneurs in Nigeria.
Lack of competition

Entrepreneurs are agents of change who accelerate the generation, application and spread
of …………….
Innovative Ideas

Pricing policies are the basic __________ on which sellers or provider of financial
services base on their price
Philosophies

personal selling becomes very important when trying to develop a close relationship
between the _______and ________
buyers and sellers

The acts of entrepreneurship are often associated with true ……………, particularly when it
involves bringing something really new to the world whose market never exists.
Uncertainty

The customer can choose you or somebody else

Relationship Marketing

Entrepreneurship in business management is regarded as the ……………of a successful

enterprise just as a leader in any organization must be the environmental change agents.
Prime Move

By ambition, we refer to a long-term plan. The following are the classification of

Ambition as discovered by Jimngang (2004), except:
Competition Ambition

A firm that uses _____ policy sets a price only slightly higher than the cost of the
product.
penetration

Entrepreneurship has been recognized as an important aspect and functioning of

organization and economies development because it contributes to;
Wealth Creation

The measure of any business venture is its contribution………………to the entire profitability
of the firm.
Financially

The following are part of elements of the 4Ps marketing mix, except;
people

The following are some of the key factors of relationship marketing except:
Some customers also are competitors

A good marketing plan should have the following qualities:

Flexibility, Brevity and comprehensiveness

Formulation of a marketing plan is always the responsibility of……………aided by inputs from

the organizational departments including the marketing department.
Top Management

Promotion encompasses all…………… efforts aimed at generating sales or building a favourable

attitude to a company\'s product.
Communications

The 4Ps of marketing mix equally applies to services; They include:

Products, Price, Promotion and Place

Marketing exchange provides desired objects from someone by offering

Value in return

____________ is dynamic and creates new things out of existing ones

Innovation

Marketing is the ………………. of products and services that satisfy the needs and wants of the
customer, at a profit.
Creation, Development and Delivery

The history of entrepreneurship in Nigeria can be classified under the following stages:
early and Modern stage

According to (Kotler), a service is “any act or performance that one party can offer to
another that is essentially …………………….. and does not result in the ownership of anything.
Intangible

Activites that are performed by the business include __________

All of the above

Objectives of a business include these Except _________

Marketing

The company, customers, competitors, collaboration and climate represents which analysis
5C analysis

Several marketing concepts with management orientations have been articulated by

marketing experts under whom organizations can conduct their marketing activity. These
include the production concept, the product concept, the selling concept and the
………………….. concept.
Marketing and Societal Marketing

Entrepreneurship leads to __________ reduction.

Poverty

The development of industry had depended a great deal on the role of the___________
Private sectors

Services often cannot be separated from their providers. This means that some services
are ………………………. simultaneously.
Produced or created and consumed or dispensed

This framework has many components working together, thereby bringing marketing vision to
Reality

The product concept indicates that consumers are primary interested in

Product quality

In every aspect of life, be it sports, politics, or research as in business, we need to

show full__________
Determination

Product development creates the vital specifications to satisfy the

Target market

Target or differentiated marketing therefore aims at dividing a large heterogeneous

market into homogenous groups or segments and developing a ………… that will appeal directly
and efficiently to buyers in each.
Marketing Mix

The concept of entrepreneurship has a wide range of meanings. It was first used in the
early __________ by an Irish man by name Rechard Cantillon who was then living in France.
18th century

Opportunities for increasing new products success exist on _____________

Multiple levels

___________ gave a complete picture in an indept study of a large sample of products

which failed after commercial introduction.
Cooper( 1976)
_______________blamed cause of new product failures on
Davidson(1979)

_____________defined an entrepreneur as a person who makes money by starting or running

businesses, especially when this involves taking financial risks.
Hornby(2006)

Stages of new product development are these except ___________

Expertises

The most obvious form of entrepreneurship is that of starting new businesses (referred to
as __________
Start up company

An Entrepreneur has following charcteristics they are ____________

All of the above

The word entrepreneur originated from the French word, ________________

Entreprende

__________ was of the opinion that

White (1976)

When consumers are grouped according age, sex, marital status, income education,
occupation, race, religion it is known as
Demographic segmentation

The entrepreneur brings to light a

Differentiator

Development is the act or process of

Growth

The history of entrepreneurship in Nigeria comes in two stages which are

Early stage and modern stage

The federal government decided that entrepreneurship education is vital in all

Tertiary institutions

The process of using private initiative to transform a business concept into a

New venture

One of the reasons entrepreneurs are successful is because of their

Creativity

The word entrepreneur originated from the French word

Entreprende

An entrepreneur is an individual who recognizes a

Business opportunity

Abraham Maslows sees the entrepreneur as someone who can

Discern change

Entrepreneurship leads to poverty

Reduction

Marketing exchange provides desired objects from someone by offering

Value in return

Production is not complete until the goods get to the final

Consumers

The amount of money a customer pays in exchange for a product is known as

Price

The tradition 4Ps for products equally applies to

Services
Products of financial services industry are
Intangible

Effective segmentation yields improved allocation of

Marketing resources

The subdivision of a market into homogeneous entity is known as

Market segmentation

Planning is an annual process typically covering just the year

Ahead

Unlike physical goods financial services cannot be

Inventored

One of the conditions for effective entrepreneurial marketing is

High level of literacy rate

When consumers are grouped according age, sex, marital status, income education,
occupation, race, religion it is known as
Demographic segmentation

Product development creates the vital specifications to satisfy the

Target market

Societal marketing focuses on

Consumer well-being

The marketing concept centres on satisfying customer

Needs

Branding differentiates the products from

Competitors

This framework has many components working together, thereby bringing marketing vision to
Reality

The framework in marketing is a visual representation or a logical flow of a

Marketing plan

The company, customers, competitors, collaboration and climate represents which analysis
5C analysis

The product concept is marketing philosophy that favour high quality products for the
Price

The product concept indicates that consumers are primary interested in

Product quality

Marketing exchange provides desired objects from someone by offering

Value in return

1) According to (Kotler), a service is “any act or performance that one party can offer
to another that is essentially …………………….. and does not result in the ownership of
anything.
Tangible

2) Services often cannot be separated from their providers. This means that some services
are ………………………. simultaneously.
Produced or created and consumed or dispensed

3)Target or differentiated marketing therefore aims at dividing a large heterogeneous

market into homogenous groups or segments and developing a ………… that will appeal directly
and efficiently to buyers in each.

Marketing Mix
4) There are several frameworks that can be used to add structure to situation analysis,
one of which is the PEST Analysis. What is the full meaning of PEST:

Political, Economic, Social, and Technological

5) Market segmentation is defined as the ………………. into homogeneous subset of customer,

where any subset may conceivably be selected as a market target to be reached with a
distinct marketing mix.
Subdivision of a Market

6)Marketing is the ………………. of products and services that satisfy the needs and wants of
the customer, at a profit.
Creation, Development and Delivery

7) The marketing strategy involves, segmentation, target market selection, product

positing within the target market and ……………………… to the target market.
Value Proposition

8) The rate at which new products emerge in the financial services industry is alarming.
This is in keeping with the increasing sophistication of the world economy and the
financial needs of bank customers. Marketing is therefore required not only to create
awareness of the new products but also to enable ……………………. organizations reap maximum
benefits from the marketing research or efforts before the product dies off or is
overtaken by new development
Innovative

9)Several marketing concepts with management orientations have been articulated by

marketing experts under whom organizations can conduct their marketing activity. These
include the production concept, the product concept, the selling concept and the
………………….. concept.
Marketing and Societal Marketing

10) One of the following is about the most effective condition of effective bank
marketing:
Enhancement of quality services (them they craze ooo no option but i choose this)

Marketing came into Nigeria banks after mid __________ in form of application to
marketing concept
(D) 80s

Product and services are the word used ___________ in banking

(B) interchangeably

Marketing came into Nigeria banks after mid __________ in form of application to
marketing concept
(D) 80s

The marketing concepts represent the major change in today‟s company orientation that
provides the foundation to achieve________
(D) Competitive advantage

The business philosophy that challenges the above three business orientation , its
central tenets crystallized in the _________
(A) 1950s

The following skills are demanded of market professionals except ________

(A) consumers research

A basic justification for segmenting of markets is the fact that markets are often
________________
(D) Heterogeneous

Target marketing according to Adirika (1993) requires four major steps it includes
_________ market targeting,
(A) Market targeting

The marketing concept rest on __________pillars

(C) four
_______________ enables the producer to design products and market appeals to satisfy
tile needs of the target groups
(B) Segementation

___________ will emphasize the features which differentiate or distinguish one product
from others in the same category.
(C) advertising

Financial institutions are most often described as being _________ in nature.

(B) oligopolistic

If customers are wrongly selected they might end up as ___________

(D) bargain hunters

_________ is the business of selling and buying commodites of product and services
(B) market

The fundamental marketing goal is to capture and retain customer's ______________

(B) Profitablity

___________ orientation that assumes that consumers will favour those production which
are available and affordable
(B) mangement

Consumers can be induced to buy more through varrious sales ___________ devices
(D) stimulating

Marketing is the ________ , development and delivery of product and services that satisfy
the needs and want of the customer
(A) creation

___________ defines marketing as the performance of business activites that direct the
flow of goods and services
(C) Mc carthy (1975)

A marketing _________ is a visual represntation or logical flow of your marketing plan

(C) framework

The internet enables market to be in cyber space for ___________ a day

(C) 24hours

1. The most obvious form of entrepreneurship is that of starting new businesses (referred
to as __________

Start up Job

Start up business

Self employed

--->> Start up company

2. The concept of entrepreneurship has a wide range of meanings. It was first used in the
early __________ by an Irish man by name Rechard Cantillon who was then living in France.

21st Century

10th centuray

--->> 18th century

None of the above

3. The word entrepreneur originated from the French word, ________________

Entricide
 Entreprise

--->> Entreprende

Expertises

4. __________ was of the opinion that

--->> White (1976)

Kolter p(1994)

Mc williams

Achumba (2000)

5. ___________ gave a complete picture in an indept study of a large sample of products

which failed after commercial introduction.

Kolter p(1994)

--->> Cooper( 1976)

Reid(2009)

Robert (2009)

6. Stages of new product development are these except ___________

concept testing

idea generation

idea screening

--->> Expertises

7. Opportunities for increasing new products success exist on _____________

Choices

Options

--->> Multiple levels

Values

8. _______________blamed cause of new product failures on

Booz et.al(1967)

Omeara(1961)

Schour(1961)

--->> Davidson(1979)

9. An Entrepreneur has following charcteristics they are ____________

Willingness to take risk

Desire for independence

self confidence

--->> All of the above

10. _____________defined an entrepreneur as a person who makes money by starting or

running businesses, especially when this involves taking financial risks.

Jain.A (2007)

--->> Hornby(2006)

Gupa O.2009

iyanlla(1999)

1. The business philosophy that challenges the above three business orientation , its
central tenets crystallized in the _________

--->> 1950s

1960s

1990s

1980s

2. Marketing came into Nigeria banks after mid __________ in form of application to
marketing concept

60s

90s

70s

--->> 80s

3. A basic justification for segmenting of markets is the fact that markets are often
________________

Homogeneous

oligopolistic

indeginous

--->> Heterogeneous

4. _______________ enables the producer to design products and market appeals to satisfy
tile needs of the target groups

Targeting

--->> Segementation

advertising

selling

5. ___________ will emphasize the features which differentiate or distinguish one product
from others in the same category.

segementation

industry

--->> advertising

Puchasing

6. Target marketing according to Adirika (1993) requires four major steps it includes
_________ market
targeting,
 --->> Market targeting

selling

product

segementation

7. The marketing concepts represent the major change in today‟s company orientation
that provides the foundation to achieve________

equal advantage

social advantage

economic advantage

--->> Competitive advantage

8. The marketing concept rest on __________pillars

six

two

--->> four

eight

9. Financial institutions are most often described as being _________ in nature.

Homogeneous

--->> oligopolistic

all of the above

none of the above

10. The following skills are demanded of market professionals except ________

--->> consumers research

sales promotion

advertising

encourage words of mouth

1. A marketing _________ is a visual represntation or logical flow of your marketing plan

Structural work

standard work

--->> framework

all of the above

2. _________ is the business of selling and buying commodites of product and services

purchasing

--->> market

re-selling
 marketing

3. Marketing is the ________ , development and delivery of product and services that
satisfy the needs and want of the customer

--->> creation

Establishment

goal

none of the above

4. If customers are wrongly selected they might end up as ___________

marketing hunters

marketers

expert

--->> bargain hunters

5. ___________ orientation that assumes that consumers will favour those production which
are available and affordable

organisation

--->> mangement

board of directors

managers

6. ___________ defines marketing as the performance of business activites that direct the
flow of goods and services

Stonner A (2004)

wood DJ (1991)

--->> Mc carthy (1975)

Onuigbo(2004)

7. The internet enables market to be in cyber space for ___________ a day

12hours

6hours

--->> 24hours

9hours

8. Consumers can be induced to buy more through varrious sales ___________ devices

sales

essenstial

product

--->> stimulating

9. The fundamental marketing goal is to capture and retain customer's ______________

loss
 --->> Profitablity

Expenses

all of the above

10. Product and services are the word used ___________ in banking

same

--->> interchangeably

differently

none of the above