Innovation & Entrepreneurship

The capacity for innovation, investment and expansion in new markets, products and techniques is known as _________________.

• Businessman

• Entrepreneur

• Business

• Entrepreneurship

Select the key characteristics of a successful entrepreneur. (Multiple answers)

• Creative

• Hardworking

• Perseverance

• Risk Taker

___________ means the promise of value made by the business, to meet the needs of the customer.

• Customer Segment

• Value Propositions

• Competitor Analysis

• Channels

Which of the following are channel that Shoppe has with their customers? (Multiple Answers)

• Ambassador: Jackie Chan

• Feedback/ Troubleshooting Email

• Youtube Advertisement

• Delivery

In Singapore, to start a business, the business owner will have to register with _________ (government agency).

• Spring Singapore

• EDB

• ACRA

• Ministry of Trade & Industry

In the ideation process, it is important to follow the divergent & convergent cycle. Divergent means:

• Divergent is the process of exploring possibilities & creating unlimited choices

• Divergent is the process of finding out the differences between the business and the competitors

• Divergent is the process diverting the customers' attention from competitor to you via advertisement

• None of the above

Some products have become obsolete over the past 50 years (such as pager, discman & cassette tape) due to constant innovation of human. Name two products/services that will become obsolete in the future.

We can segmentize the market base on_______.

• Demographic

• Consumption Behaviors

• Location

• All of the above

In government's effort to reach out to the Singapore Citizens to get vaccinated, Government launch a song in dialect on TV to reach out to the elderly folks. This marketing strategy is _________.

• Demographic Based

• Educational Level Based

• Language Based

• Consumption Behaviors Based

Answer explanation

Demographic Based - As this advertisement is specifically targetting the 50 years old and above by portraying elderly folks in the advertisement.

Language Based - To reach out to the elderly folks, the advertisement uses 3 different kind of commonly used dialects.

Consumption Behaviour Based - Understanding that the elderly more commonly watches TV than use social media, the advertisement is primarily aired on TV

The 4Ps in a marketing mix are: Product _______, Places & _______