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4

What is a unique selling proposition (USP) in marketing?

A. A strategy for selling products at a higher price

B. A distinctive feature or benefit that sets a product apart from competitors

C. The process of selling products to unique customer segments

D. A pricing strategy for premium products

Correct Answer :

B. A distinctive feature or benefit that sets a product apart from competitors


Related Questions

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4

What is the term for the total market value of all goods and services produced by a country in a given period?

A. Gross Domestic Product (GDP)

B. Net Profit Margin

C. Return on Investment (ROI)

D. Cost of Goods Sold (COGS)

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4

Which type of entrepreneurship involves creating and operating a business primarily for the lifestyle benefits it provides to the owner?

A. Serial entrepreneurship

B. Social entrepreneurship

C. Lifestyle entrepreneurship

D. Corporate entrepreneurship

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4

What is the term for a group of individuals who work together to develop and launch a business venture?

A. Syndicate

B. Cooperative

C. Consortium

D. Team

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4

What is the term for a legal document that outlines the rights and responsibilities of partners in a business venture?

A. Business plan

B. Partnership agreement

C. Memorandum of understanding (MOU)

D. Articles of incorporation

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4

Which of the following is NOT a common source of funding for startups?

A. Venture capital

B. Crowdfunding

C. Taxation

D. Angel investors

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4

What is the term for a document that outlines a company's mission, vision, goals, and strategies?

A. Business plan

B. Marketing plan

C. Financial statement

D. Operational manual

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4

What is the term for a legal form of business in which there is one owner who has unlimited personal liability?

A. Corporation

B. Partnership

C. Sole proprietorship

D. Limited liability company (LLC)

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4

What is the term for a detailed plan that outlines a company's goals and the strategy for achieving them?

A. Business model

B. Marketing plan

C. Business plan

D. Financial statement

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4

What is the term for the process of identifying potential customers and tailoring marketing efforts to reach them?

A. Market segmentation

B. Target marketing

C. Customer profiling

D. Product positioning

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4

What type of entrepreneur is characterized by starting multiple businesses over their career?

A. Serial entrepreneur

B. Social entrepreneur

C. Lifestyle entrepreneur

D. Corporate entrepreneur

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4

What is the term for the process of seeking and obtaining financial backing for a business venture?

A. Funding procurement

B. Capital acquisition

C. Financing

D. Fundraising

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4

What is the term for the process of introducing a new product or service to the market?

A. Market entry

B. Product launch

C. Market expansion

D. Market penetration

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4

What type of innovation involves making incremental improvements to existing products or processes?

A. Disruptive

B. Radical

C. Incremental

D. Breakthrough

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4

What is a unique selling proposition (USP) in marketing?

A. A strategy for selling products at a higher price

B. A distinctive feature or benefit that sets a product apart from competitors

C. The process of selling products to unique customer segments

D. A pricing strategy for premium products

What is the correct answer?

4

What is the term for a person who provides financial backing for a startup in exchange for ownership equity or debt?

A. Mentor

B. Investor

C. Co-founder

D. Partner

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4

Which type of innovation involves making significant improvements to existing products or processes?

A. Disruptive

B. Incremental

C. Breakthrough

D. Radical

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4

What is the term for the process of determining the worth of a business or an asset?

A. Valuation

B. Appraisal

C. Pricing

D. Estimation

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4

What is the term for the process of bringing together people, capital, and resources to start and run a business?

A. Incubation

B. Formation

C. Entrepreneurship

D. Aggregation

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4

Which legal form of business provides the most personal liability protection for its owners?

A. Sole proprietorship

B. Partnership

C. Limited liability company (LLC)

D. Corporation

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4

What is a cash flow statement used for in business finance?

A. Tracking money spent on marketing

B. Analyzing the movement of money in and out of a business

C. Calculating the net worth of a business

D. Estimating future sales revenue

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4

Which of the following is NOT a common characteristic of an entrepreneurial mindset?

A. Risk aversion

B. Creativity

C. Resilience

D. Adaptability

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4

What is the term for a legal form of business where the owner has limited liability?

A. Sole proprietorship

B. Partnership

C. Corporation

D. Limited liability partnership

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4

What is the term for the process of bringing a product or service to market faster than competitors?

A. First-mover advantage

B. Rapid prototyping

C. Agile development

D. Market segmentation

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4

What is the term for the process of finding, attracting, and hiring new employees for a business?

A. Recruitment

B. Training

C. Onboarding

D. Human resources management

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4

What is the term for the process of studying and analyzing the external environment to identify business opportunities and threats?

A. Market research

B. Environmental scanning

C. Competitive analysis

D. SWOT analysis

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4

What type of innovation involves creating entirely new products or processes that disrupt existing markets?

A. Incremental

B. Disruptive

C. Breakthrough

D. Radical

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4

What is the term for the process of selling a product or service to a foreign market?

A. Exporting

B. Outsourcing

C. Importing

D. Domestication

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4

What is the term for a person who starts and manages a business with the aim of making a profit?

A. Investor

B. Entrepreneur

C. Innovator

D. Executive

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4

What is the term for the initial phase of a business where the entrepreneur tests the feasibility of their business idea?

A. Startup phase

B. Pilot phase

C. Feasibility phase

D. Proof of concept phase

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4

Which stage of the entrepreneurial process involves turning an idea into a tangible product or service?

A. Opportunity recognition

B. Idea generation

C. Product development

D. Market entry