quiz 4

Question 1

it will have an impact on how much you sell it

Answer 1

size and weight

Question 2

need extra attention when shipping to ensure they arrive in perfect condition

Answer 2

fragile product
fragility

Question 3

SKU stands for

Answer 3

stock keeping unit

Question 4

refers to color, size, gender and other variations of a single product

Answer 4

SKU

Question 5

different levels of demand for a product throughout the year

Answer 5

seasonality

Question 6

make sure your prices are still attainable for target customers

Answer 6

price point

Question 7

the more niche your products, the less competition, can be a good thing

Answer 7

competition

Question 8

select one that you actually enjoy or one that solves a problem you have personally experienced

Answer 8

consider yourself

Question 9

4 aspects of entrepreneurial process

Answer 9

opportunity spotting and assessment
developing a business plan
determining the capital
running the business

Question 10

beginning of the process and most difficult, they take note of interesting trend in their environment

Answer 10

opportunity seeking and assessment

Question 11

formulate a business plan when already spotted and assessed the opportunities for a market

Answer 11

developing a business plan

Question 12

a comprehensive paper that details the marketing, operational, human resource, financial, strategic direction, tactics

the core guide and direction of the business

Answer 12

business plan

Question 13

mandatory in the entrepreneurial process to calculate the resources needed

allowance must be considered

Answer 13

determining the capital needed

Question 14

uses the resources allocated for the new venture

Answer 14

running the business

Question 15

all aspects of the business plan should be critically observed

TRUE OR FALSE

Answer 15

KORIQUE SO MUCH

Question 16

3S of opportunity spotting and assessment

Answer 16

seeking
screening
seizing

Question 17

entrepreneur’s business idea that can potentially become a commercial product or service

Answer 17

opportunity

Question 18

the first step and the most difficult due to number of options will have to choose from

Answer 18

seeking

Question 19

process of cautiously selecting the best opportunity

Answer 19

screening

Question 20

last step, “pushing through” with the chosen opportunity

Answer 20

seizing

Question 21

4 macro environmental sources

Answer 21

steepled
industry
new discovery of knowledge
futuristic opportunities

Question 22

represents general environment, identifies business opportunities, where the future business is about to operate

Answer 22

steepled

Question 23

source of current trend

Answer 23

industry

Question 24

new trends that can be the core business

Answer 24

new discovery of knowledge

Question 25

portraits entrepreneurs paint in their mind and set out to create

Answer 25

futuristic opportunities