RECOGNIZING POTENTIAL MARKET
Quiz by Vernice Lee
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- Q1
One of the essential's of entrepreneur’s opportunity – seeking that refers to the driven passion of an individual.
Entrepreneurial gut game
Entrepreneurial mind frame
Entrepreneurial heart frame
Entrepreneurial heart flame
60s - Q2
Which of the following good sources of entrepreneurial ideas determine the interest, hobbies and preferences of people?
People’s interest
Past experiences
Technological discovery
Changes in the environment
60s - Q3
Which of the following source of entrepreneurial idea where expertise and skills developed by a person from its previous work can lead to the opening of a related business enterprise?
People’s interests
Past experiences
Technological discovery and advancement
Government programs, and policies
60s - Q4
What do you call the process of considering, evaluating, and pursuing market-based activities that are believed to be advantageous for the firm?
Opportunity – seizing
Sources of opportunity
Opportunity – screening
Opportunity – seeking
60s - Q5
Who are the ones who pay cash in exchange for your goods and services?
Sellers
Buyers
Suppliers
Competitors
60s - Q6
The intensity of rivalry among existing firms is characterized to the following factors except one:
Number of competing firms
Characteristics of the products or services
Product represents a high percentage of the buyer’s cost
Diversity of rivals
60s - Q7
10.The following are the forces competing within the industry except one:
Needs and Wants
Rivalry among existing Firms
Buyers and Suppliers
New and Substitute Products
60s - Q8
Which among the following is the result of identifying entrepreneurial opportunities?
Entrepreneurial process
Creation of entrepreneurial ideas
Opening of entrepreneurial venture
Sources of opportunity
60s - Q9
Societal environment includes the following, except:
Natural resources
Sociocultural forces
Political forces
Economic forces
30s - Q10
How do you identify a market?
Relying on intuition and guesswork
Based on personal preferences
Through comprehensive market research
Using social media trends and hashtags
60s