ENTREP

Question 1

The result of the input and process in the form of output

Answer 1

Product

Question 2

A business that has no product but purely services

Answer 2

Services

Question 3

Represents the difference between what is paid for the merchandise and its price to the clients

Answer 3

Mark-Up

Question 4

It indicated the value of a commodity or service in the form of money

Answer 4

Price

Question 5

Refers to an outline or model of one thing

Answer 5

Pattern

Question 6

An approach of method used in business

Answer 6

Strategy

Question 7

Serves as guide for the entrepreneurs to understand how the prices of commodities are computed objectively

Answer 7

Pricing Strategy

Question 8

It is a part of the pricing system wherein the government becomes alert against those who are abusing and making unreasonable prices.

Answer 8

Pricing Strategy

Question 9

Give the 8 Pricing Strategies

Answer 9

Value-Based Pricing
Posting Strategy
Value-Pack Pricing
Cost-Plus Pricing
High Price Approach
Penetration Market
Free Tasting or Sampling Approach
Result Pay Scheme or Trial Method

Question 10

The price increases when there is evident result.

Answer 10

Value-Based Pricing

Question 11

Showing the decreasing price against the original price where discount is given

Answer 11

Posting Strategy

Question 12

Mixture of clustered products with varied prices in one pack or bag

Answer 12

Value Pack Pricing

Question 13

Setting up price targeting specific profit

Answer 13

Cost-Plus Pricing

Question 14

Aiming to set quality and status. It is also called as PRESTIGE STRATEGY

Answer 14

High-Price Approach

Question 15

They are doing it in order to establish market and build up more customers.

Answer 15

Penetration Market

Question 16

Sample of cooked/prepared food is tasted/tried by the customers.

Answer 16

Free Tasting or Sampling Approach

Question 17

A trial and error in product type of business is tried/offered; when it is successful it will be continued; but if it’s failed it will be stopped.

Answer 17

Result Pay Scheme or Trial Method

Question 18

The materials needed for processing to come up with finished products.

Answer 18

Inputs

Question 19

Means finished product

Answer 19

Output

Question 20

It is the step-by-step procedure followed in transforming materials into finished products.

Answer 20

Process

Question 21

It involves the necessary raw materials and parts, number of workers, types of machines needed, and the completion time for such operation involved.

Answer 21

Production Plan

Question 22

It involves formulation of sales strategy.

Answer 22

Sales Management

Question 23

They are the expected results of variable cost and fixed cost within the target period.

Answer 23

Projected Sales

Question 24

The actual testing of business

Answer 24

Trial Run

Question 25

It means the practicability of the business.

Answer 25

Viability

Question 26

Give the 2 models in pricing goods and services

Answer 26

Percentage Allocation Approach
Average Mark-Up Approach

Question 27

What is BUTRUD?

Answer 27

Business Trial Run Design

Question 28

Give the parts of BUTRUD

Answer 28

Business Name
Business Owner
Business Location
Target Goals
Timetable
Price Flexibility
Advertisement & Promotion
Target Market