St.

Paul University Quezon City

Mid-Term Examination-2nd Term
SY 2019-2020
Introduction to Entrepreneurship

Name ___________________________________________ Score ________________________

Yr. and Section _________________________ Date____________ Professor : Dr. Jesusa P. Castillo

General instructions:
1. Read the directions carefully with understanding.
2. Write your answers legibly.
3. Use black ball pen.
4. Avoid erasures.

I. TRUE or FALSE: Read carefully the following entrepreneurial ideas. Write True if the
idea is correct and False if incorrect. 1-15

True or False Entrepreneurial Ideas

1. The true entrepreneur are those who aims for quality and excellence in their work.
2. New products and services are always available in the market because of the ingenuity of
entrepreneurs to seek opportunities and improve on them.
3. It is in market segmentation that business opportunities originate.
4. Marketing research gives an entrepreneur a holistic view of the market group he is serving.
5. A simple eatery in rural area and a coffee shop in an urban area both ignite economic activity
regardless of their business scale.
6. The presence of various independent sari-sari stores in Barangay San Pablo is better than having
a number of convenience stores owned by one company. This illustrates that entrepreneurship
reduces social conflicts and political unrest.
7. The best way to fully understand the customers is to ask them about their specific thoughts and
desires.
8. As entrepreneur , you must identify your target market and focus only on customers whom you
can serve beneficially.
9. Survey is reliable because it allows the researcher to see real and actual behavior of customers
rather than hearing what they need to say.
10. What is unique about FGD is that it is led by a moderator who keeps the discussion spontaneous
and on the right track.
11. To come up with marketing strategies and tactics, the entrepreneur must use the 7P’s Model.
12. The augmented benefits of a product or service are the major factors why customer buys a
product or avails of a service.
13. Free hair coloring with hot oil treatment is an example of core benefits of the service rendered
14. Juice with vitamin C that makes my bones strong and healthy is an example of physical
characteristics of the product.
15. Shampoo with conditioner is an example of core benefits of the product.

II. A. Concept Recall: (16-30 )

Directions: From the ENTREP Word Bank, choose the concept that best fits in
the following statements. Write the letter representing the correct answer on the space
provided before the number.
ENTREP Word Bank
Choices 16-20 Choices 21-25 Choices 26-30
A. Entrepreneur F. Innovation L. Customer inclination
B. Entrepreneurship G. Market Analysis M. Customer Requirements
C. Entrepreneurial Process H. Market Segment N. Market Intelligence
D. Leadership I. Market Size O. Marketing Mix
E. Opportunity J. Marketing Research P. Market Segmentation

Answer Entrepreneurial Ideas

16-20 Choices A-E

16. This is a process of developing a business venture to make a profit.

17. The unique individual who has the innate ability and extraordinary dedication to establish
and manage a business, acknowledge all the risks and reaping its rewards
18. This is the core of every entrepreneur.
19. This is a step-by-step procedure in establishing any kind of business that an entrepreneur
has to undergo.
20. s is the entrepreneur’s business idea that can potentially become a commercial product or
service in the future.
21-25 Choices F-J

21. This is the process of positively improving an existing product or service.

22. This is a group of individuals sharing one or more characteristics and similar product
needs.
23. This describes the market conditions and the marketing plan that the business will deploy,
including how the products and services will be priced, promoted and distributed.
24. This is a comprehensive process of understanding the customers’ intricacies and the industry
they revolve in.
25. This is the approximation of the number of buyers and sellers in a particular market.
.
26-30 Choices L-P
26. These are specific features and characteristics that the customer s need from a product or a
service
27. This includes customer profiling, drives the entrepreneur on what correct strategies and
tactics to employ.
28. This is the process of grouping similar or homogenous customers according to demographic,
psychographic, geographic, and behavior.

29. This involves preferring one product over another as a result of gaining a refreshing
experience when using the product, possibly due to the product’s unique features.
30. This is a widely accepted strategic marketing tool that combines the original 4Ps (product,
place, price, promotion) with the additional 3Ps (people, packaging, and process), in
formulating marketing tactics for a product or service.

B. Identification: Which of the following statements best fit with the most common method
of collecting data from the target customers in the first column 16-19 and the 7P’s of Marketing in
the 2nd Column 20-25:

Most common method of collecting data from The 7P’s of Marketing( 20-25)
the target customers (16-19)
A. Interview A. Product
B. Focus group discussion B. Price
C. Observation C. Promotion
D. Survey D. Place
E. Packaging
F. People
G. Process

16-19 Most common method of collecting data from the target customers
31. This is the most commonly used by market researchers to capture qualitative results
from target customers.
32. This is the process of getting answers from a sample of respondents derived from a
particular population
33. The face-to-face contact between the entrepreneur and the target market
34. This is reliable because it allows the researcher to see real and actual behavior of
customers rather than hearing what they need to say.
20-25 The 7P’s of Marketing
35. This play a vital role in servicing customers even though the entrepreneur sells only
physical goods.
36. This involves presenting the products or services to the public and how these can
address the public needs, wants, problems or desires.
37. This is any physical good , service or idea that is created by an entrepreneur or an
innovator in servicing the needs of the customers and addressing their
existing problems.
38. This is defined as the step-by-step procedure or activity workflow that the entrepreneur
or employees follow to effectively and efficiently serve customers.
39. This is the peso value that the entrepreneur assigns to a certain product or service after
considering its costs, competition, objectives, positioning and target market.
40. This is how the product or service is presented to customers.
 I. Complete the table below with the following: 41-60
Column A. 5 generic products or services
Column B. Name the top brand that first comes to your mind when these generic
products or services are mentioned
Column C. Why do you think they are the top of your mind brands?
Column D. To be different and catchy, a brand name must possess certain
characteristics. Name at least 5 characteristics.

A. Name at B. Name the top brand C. Why do you think D. To be different and catchy, a
least 5 that first comes to your they are the top of brand name must possess
generic mind when these your mind brands? certain characteristics. Name
products or generic products or 51-55 at least 5 characteristics.
services 41- services are mentioned 56-60
45 46-50

41. 46. 51. 56.

42. 47.. 52. 57.

43. 48. 53 58.

44. 49. 54. 59.

45. 50. 55. 60.

Prepared by: Date: Reviewed by: Date: Approved by: Date:

Dr. Jesusa P. Castillo Dr. Maria Luz Lourdes Paulino Dr. Antoniette Lacerna
Professor Program Chair Dean-CBT

Paulinians are simple, warm, active and prayerful!

 St. Paul University Quezon City
Formal Assessment No. 1 – 1st Semester, SY 2016-2017
BUS 01 Business Policy and Strategic Management

Name _______________________________ Course/Yr. _________________Score_________________

Date____________________________ Professor DR. JESUSA P. CASTILLO

ANSWER SHEET

I. Matching Type: (15 points) II. MULTIPLE CHOICE (15 points)

1. 1.
2. 2.
3. 3.
4. 4.
5. 5.
6. 6.
7. 7.
8. 8.
9. 9.
10. 10.
11. 11.
12. 12.
13. 13.
14. 14.
15. 15.

I. Distinguish between Strategy and Tactics: 10 points

The distinction between Strategy and Tactics

Strategy and tactics are Strategy Tactics
differentiated in many
ways as follow:
1. As to level of conduct Developed at the highest Employed at and related to
levels of management lower levels of management
2. As to importance Often of the highest Consistently less significant
importance to an organization
3. As to information needs Requires large amount of Rely more heavily on
information internally generated data.
4. As to ease of evaluation Difficult to measure its Considerably easier to
effectiveness and efficiency measure its effectiveness and
efficiency
5. As to nature of problems Generally unstructured and More structured and often
tend to be one of a kind repetitive in nature.

Prepared by: Date: Checked by: Date:

Dr. Jesusa P. Castillo Mr. Leandro S. Estadilla

Faculty Faculty Lead