Entrepreneurship Review -Hannah, Blake, Lane, Lexi

4.01

100

A brand is...

A)the idea or image of a specific product or service that consumers connect with

B)when that idea or image is marketed so that it is recognizable by more and more people, and identified with a certain service or product when there are many other companies offering the same service or product.

C)The logo that represents a brand

D) The company's Mascot

A)the idea or image of a specific product or service that consumers connect with

B)when that idea or image is marketed so that it is recognizable by more and more people, and identified with a certain service or product when there are many other companies offering the same service or product.

C)The logo that represents a brand

D) The company's Mascot

200

Branding is...

A)the idea or image of a specific product or service that consumers connect with

B)when that idea or image is marketed so that it is recognizable by more and more people, and identified with a certain service or product when there are many other companies offering the same service or product.

C)The logo that represents a brand

D) The company's Mascot

A)the idea or image of a specific product or service that consumers connect with

B)when that idea or image is marketed so that it is recognizable by more and more people, and identified with a certain service or product when there are many other companies offering the same service or product.

C)The logo that represents a brand

D) The company's Mascot

300

Yahoo is what type of naming trend?

A)Real words.

B)Misspelled words

C)Made-up words

D)Two syllable, compound words

A)Real words.

B)Misspelled words

C)Made-up words

D)Two syllable, compound words

400

In the pie analogy, the cherry is the brand's what?

A)Product or service

B)Systems

C)Corporate environment

D)Promise

A)Product or service

B)Systems

C)Corporate environment

D)Promise

500

In the pie analogy, the ice cream is the brand's what?

A)Product or service

B)Systems

C)Corporate environment

D)Promise

A)Product or service

B)Systems

C)Corporate environment

D)Promise

4.02

100

Joe Schmoe is starting a business. When defining his goals, objectives, and mission statement, which of the following is NOT a characteristic he should include in his goals?

a. things that define your destination and shape what your business will become.

b. things that help you determine a timeline for the things you need to do.

c. showing a broader vision of what you wish to accomplish

d. precise, time-based, and measurable actions

a. things that define your destination and shape what your business will become.

b. things that help you determine a timeline for the things you need to do.

c. showing a broader vision of what you wish to accomplish

d. precise, time-based, and measurable actions

200

Objectives

a. define the planned destination of your business

b. help create a timeline of things you want to accomplish

c. are smaller, precise and time-based things you wish to achieve

d. help you determine a timeline for the things you need to do.

a. define the planned destination of your business

b. help create a timeline of things you want to accomplish

c. are smaller, precise and time-based things you wish to achieve

d. help you determine a timeline for the things you need to do.

300

Mr. Johnson is coming up with a mission statement for his business. Which of the following is NOT an external influence he should take into account when defining your mission statement

a. his competition

b. his business’ budget

c. economic conditions

d. possible government regulation

a. his competition

b. his business’ budget

c. economic conditions

d. possible government regulation

400

Miscellaneous Trivia
What is an SBDC?

A. A “Superior Business” in the nation’s capital

B. A small business devoid of currency

C. A Small Business Development Center

D. A starter business dba corporate

A. A “Superior Business” in the nation’s capital

B. A small business devoid of currency

C. A Small Business Development Center

D. A starter business dba corporate

500

Miscellaneous Trivia
How many "Likes" have there been on Facebook since its public launch in 2009?

A: Over 500 Billion

B. Over 300 Billion

C. Over 1 Trillion

D. Over 2 Trillion

A: Over 500 Billion

B. Over 300 Billion

C. Over 1 Trillion

D. Over 2 Trillion

4.03

100

A product can be

A) good or service

B) good

C) service

D) neither

A) good or service

B) good

C) service

D) neither

200

Positioning is the strategy in which a business creates a certain _______ or impression of a product

A) picture

B) drawing

C) image

D) cartoon

A) picture

B) drawing

C) image

D) cartoon

300

What is NOT a benefit to a successful product/service management

A) improved sales

B) fewer customers

C) less exposure to financial risk

D) lower taxes

A) improved sales

B) fewer customers

C) less exposure to financial risk

D) lower taxes

400

Which one of the following one of the phases of product/service management?

A) Develop a creative brainstorming technique

B) Monitor existing products

C) Keep products that are weak

D) Test existing products

A) Develop a creative brainstorming technique

B) Monitor existing products

C) Keep products that are weak

D) Test existing products

500

Miscellaneous Trivia
In April 2012, facebook.com received what percentage of U.S. web traffic?

A: 5%

B. 7%

C. 9%

D. 10%

A: 5%

B. 7%

C. 9%

D. 10%

4.04

100

Which of the following is an example of a company using brand extension?

a. Harris Teeter installing a Redbox machine in its store.

b. Walmart adding a three ATM’s in all of their stores.

c. Sun Drop adding a Caffeine Free Diet Cherry Sun Drop

d. Foodlion packaging smaller portion of beef and chicken.

a. Harris Teeter installing a Redbox machine in its store.

b. Walmart adding a three ATM’s in all of their stores.

c. Sun Drop adding a Caffeine Free Diet Cherry Sun Drop

d. Foodlion packaging smaller portion of beef and chicken.

200

What is width in the product mix of a business?

a. adding items to a product or an entire product line

b. the number of items offered within each product line

c. the number of different product lines a business makes/sells

d. the degree of closeness or relatedness between product lines in the product mix

a. adding items to a product or an entire product line

b. the number of items offered within each product line

c. the number of different product lines a business makes/sells

d. the degree of closeness or relatedness between product lines in the product mix

300

Which of the following factors helps a business determine its product mix?

a. stable goods and regular goods

b. merchandise breadth and depth

c. seasonal goods and convenience goods

d. size and target market

a. stable goods and regular goods

b. merchandise breadth and depth

c. seasonal goods and convenience goods

d. size and target market

400

Imagine you own a business. You want to add a group of related items to its product mix in order to appeal to a target market with slightly different needs. What is this called?

a. product replacement

b. product enhancement

c. service expansion

d. line extension

a. product replacement

b. product enhancement

c. service expansion

d. line extension

500

Miscellaneous Trivia
When Google's stock went public, which competing search engine owned over 8 million shares?

A: Bing

B. Ask.com

C. Yahoo

D. Baidu

A: Bing

B. Ask.com

C. Yahoo

D. Baidu

Miscellaneous Entrepreneurship Trivia

100

In which area of the house did Steve Jobs and Steve Wozniak famously co-found Apple?

A. Kitchen

B. Bedroom

C. Driveway

D. Garage

A. Kitchen

B. Bedroom

C. Driveway

D. Garage

200

Baskin Robbins Ice Cream makers once tried to produce and market an ice cream product with what vegetable flavoring?

A. Corn

B. Ketchup

C. Carrot

D. Onion

A. Corn

B. Ketchup

C. Carrot

D. Onion

300

In 1887, Thomas Edison patented his personal favorite invention. What was it?

A. The phonograph (aka the record player)

B. The incandescent lightbulb

C. The motion picture camera

D. The projector

A. The phonograph (aka the record player)

B. The incandescent lightbulb

C. The motion picture camera

D. The projector

400

Who invented the Electric Shaver?

A. Jacob Schick (Schick)

B. James Gillette (Gillette)

C. Marcel Bich (Bic)

D. Anton Philips (Philips)

A. Jacob Schick (Schick)

B. James Gillette (Gillette)

C. Marcel Bich (Bic)

D. Anton Philips (Philips)

500

In which city was Coca-Cola first introduced in 1886?

A. St. Louis, Missouri

B. Philadelphia, Pennsylvania

C. Atlanta, Georgia

D. Baltimore, Maryland

A. St. Louis, Missouri

B. Philadelphia, Pennsylvania

C. Atlanta, Georgia

D. Baltimore, Maryland