BASTA PANG MIDTERMS TO

Question 1

Process of OBTAINING INFORMATION on the business environment and using them for strategic purposes

Answer 1

ENVIRONMENTAL SCANNING

Question 2

Can be FORMALLY AND INFORMALLY carried out by a prospective entrepreneur to determine how EXTERNAL FORCES may affect the profitability of his project.

Answer 2

Environmental scanning

Question 3

It is a MUST of all types of business

Answer 3

Environmental scanning

Question 4

conducted BEFORE the businesses were establsihed

Answer 4

environmental scanning

Question 5

also known as VENTURE PLAN

Answer 5

business plan

Question 6

a step-by-step guide that will assist you in realizing your business idea

Answer 6

business plan

Question 7

shows the PROFILE of the business by describing its product/service, its potential buyers, the production process, as well as the management and financial aspects of business

Answer 7

business plan

Question 8

PARTS OF A BUSINESS PLAN

Answer 8

Introduction
Marketing plan
Organizational plan
Production or Technical plan
Financial plan

Question 9

• Nature of Business
• Objectives
• Product description

Answer 9

Introduction

Question 10

• Potential buyers
• Competitors
• Pricing Policy
• Promotional strategies

Answer 10

Marketing Plan

Question 11

• Form of organization
• Organizational chart

Answer 11

Organizational plan

Question 12

• Production Flow Chart / Process
• Suppliers

Answer 12

Production or Technical Plan

Question 13

• Source of capitalization
• Financial statements
• Financial ratios

Answer 13

Financial plan

Question 14

SMART

Answer 14

S - Specific
M - Measurable
A - Achievable
R - Realistic
T - Time bound

Question 15

NSPP-USP Matrix

Answer 15

Need
Situation
Person
Product description
Unique Selling Proposition

Question 16

BAFF Matrix

Answer 16

Benefits
Advantages
Features
Functions

Question 17

studies the characteristics of your buyers as well as competitors in the market

Answer 17

marketing plan

Question 18

THREE FORMS OF BUSINESS OWNERSHIP

Answer 18

Single/sole proprietorship
Partnership
Corporation

Question 19

organied and managed by ONLY ONE PERSON. The proprietor has unlimited liability.

Answer 19

Single/sole Proprietorship

Question 20

is formed by TWO OR MORE PERSONS. A general partner has unlimited liability while a limited partner has limited liability.

Answer 20

Partnership

Question 21

is a JURIDICIAL ENTITY owned by FIVE OR MORE STOCKHOLDERS who have limited liability.

Answer 21

Corporation

Question 22

a diagram that shows the relationship and communication channel that exist within and among the group of workers in the organization.

Answer 22

Organizational chart

Question 23

A __________ will show you how your product is going to be produced.

Answer 23

production plan

Question 24

The steps or workflow and the manpower requirements are described in a ___________.

Answer 24

production plan

Question 25

items to be considered in determining the project cost

Answer 25

Cost of Property, Plant, and Equipment Organization Cost Initial Working Capital Contingencies

Question 26

A logical step that entrepreneurs take before launching a product is to ______________________ to potential customers.

Answer 26

determine its market acceptability

Question 27

In selecting a supplier, the following factors should be considered:

Answer 27

1. Track record of the potential supplier 2. Proximity of the supplier ' s plant to the proposed business establishment. 3. Quantity, quality, and price of the supplier's raw materials

Question 28

refers to a series of activities undertaken during production and distribution. This starts with the acquisition of raw materials and inputs, followed by the processing of inputs into finished products, packaging, storage, and distribution of the final products to consumers or end users.

Answer 28

Value chain

Question 29

The manpower requirements for any business enterprise depend on two major factors:

Answer 29

1. The form of business ownership 2. The nature of the business

Question 30

TYPES OF PROMOTION

Answer 30

Advertising Personal Selling Public Relations Sales Promotion Direct Marketing

Question 31

involves the placement of ANNOUNCEMENTS and PERSUASIVE MESSAGES in time or space purchased from mass media by business firms, nonprofit organizations, government agencies and individuals who seek to inform and/or persuade members of a particular target market or audience about their products or services.

Answer 31

Advertising

Question 32

involves FACE-TO-FACE interaction with customers.

Answer 32

Personal Selling

Question 33

form of communication management that seeks to make use of PUBLICITY and other forms of promotions and information to influence people.

Answer 33

Public Relations

Question 34

these are marketing pressures applied for a LIMITED PERIOD OF TIME to stimulate trial, increase consumer demand, or improve product availability.

Answer 34

Sales Promotion

Question 35

has involved toward DIRECT DIGITAL MARKETING, a digital marketing method that provides relevant marketing communications addressed to a specific individual with an email address, a mobile phone number or a Web browser cookie.

Answer 35

Direct Marketing

Question 36

is a name, term, design, symbol, trademark or any other feature given to a product to project a certain identity, what it stands for.

Answer 36

Brand name

Question 37

TRUE OR FALSE: For a business, creating an effective marketing new brand name is one of the most exciting aspects of beginning a business.

Answer 37

TRUE

Question 38

TRUE OR FALSE: For a business, creating an effective marketing new product prototype is one of the most exciting aspects of beginning a business.

Answer 38

FALSE - new brand name

Question 39

is all about making your business DIFFERENT from your competitors. And this will provide your products and services the power to MAKE A STAND in the market.

Answer 39

Branding