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    Cresilda Mugot
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    1. Functional needs are basic needs for survival like water, while emotional needs make us feel happy like buying a pretty skirt. Tangible needs can be touched like buildings, while intangible needs are indirect like insurance. Profit is sales minus costs, and profitability measures efficiency. Specific demographics and psychographics help target customers. Entrepreneurs run their own companies with risk and autonomy, while intrapreneurs innovate within large companies. 2. The author wants to open a business in the future and was encouraged by their experience in a used clothes store, where the owner offered help. They are focusing on finishing school to get a good job first to save money before pursuing entrepreneurship.

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    entrep_exam_prelim

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    1. Functional needs are basic needs for survival like water, while emotional needs make us feel happy like buying a pretty skirt. Tangible needs can be touched like buildings, while intangible needs are indirect like insurance. Profit is sales minus costs, and profitability measures efficiency. Specific demographics and psychographics help target customers. Entrepreneurs run their own companies with risk and autonomy, while intrapreneurs innovate within large companies. 2. The author wants to open a business in the future and was encouraged by their experience in a used clothes store, where the owner offered help. They are focusing on finishing school to get a good job first to save money before pursuing entrepreneurship.

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    14 views2 pages

    Ay Include Cursory Information Such As Gender, Age, Income and Marital Status

    Uploaded by

    Cresilda Mugot
    1. Functional needs are basic needs for survival like water, while emotional needs make us feel happy like buying a pretty skirt. Tangible needs can be touched like buildings, while intangible needs are indirect like insurance. Profit is sales minus costs, and profitability measures efficiency. Specific demographics and psychographics help target customers. Entrepreneurs run their own companies with risk and autonomy, while intrapreneurs innovate within large companies. 2. The author wants to open a business in the future and was encouraged by their experience in a used clothes store, where the owner offered help. They are focusing on finishing school to get a good job first to save money before pursuing entrepreneurship.

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    of 2

    IV.

    1. Functional need is a basic need rooted in logic and is needed for survival.


    Emotional needs are feelings or conditions we need to feel happy, fulfilled, or at
    peace.

    Example
    Functional Need - Rolly ran out of water while jogging and he went out to buy one at
    a sari-sari store.
    Emotional need - Jessa has a lot of skirt and she still bought a new one because it is
    very pretty.

    2. Tangible needs can be easily determined or evaluated.

    Tangible Needs - physical object that can be perceived by touch.


    Intangible needs - product that can only be perceived indirectly such as an insurance
    policy.

    Example
    Tangible Needs - a building, vehicle, or gadget. Most goods are tangible products
    Intangible Needs - virtual digital goods like MP3’s.

    3. Profit is the metric used to determine the scope of a company's profit in relation to
    the size of the business.
    Profitability is a measurement of efficiency – and ultimately its success or failure.

    Example:
    Profit - Company A has P100,000 in sales and a COGS of P60,000, it means the
    gross profit is P40,000, or $100,000 minus P60,000. Divide gross profit by sales for
    the gross profit margin, which is 40%, or P40,000 divided by P100,000.
    Profitability - If crops and livestock are produced and sold, income is generated.

    3. Specific demographic to target - Figure out not only who has a need for your
    product or service, but also who is most likely to buy it.  May include cursory
    information such as gender, age, income and marital status.
    Psychographics of your target - are the more personal characteristics of a person

    Example:
    Specific Demographic - young people (eg. age 18-24), both female and male from
    towns with a population larger than 20,000.

    Psychographics of your target - worrying about lost resources throughout a supply


    chain, wanting to eliminate redundancies, or being skeptical of flashy new
    technology.

    4. An entrepreneur runs their own company, include risk taking, creativity, initiative,


    problem solving, organizational skills, communication and independence.
    An intrapreneur is responsible for innovating within an existing organization
    (usually a big one). While intrapreneurship is less risky, it also comes with less
    autonomy.

    Example:

    Well-known entrepreneurs include Bill Gates, Steve Jobs, Mark Zuckerberg,

    Intraprenuer - Google (Alphabet) google has embraced the intrapreneurial culture


    from their inception.

    V.
    1. I always wanted to put up a business and I am doing my best to realize it in the
    futute. I was encouraged when I worked as a sales lady to a ukay-ukay store. My
    employeer told me that if I want to put up a business like hers she will help me.

    2. I
    am doing my best to finish my studies and want to have a good job and then if I
    will have enough money I will put up a business and be an entreprenuer.

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