- 1. A sari-sari store owner or a small manufacture (e.g., snack maker) computes cost per pack (raw materials, packaging, fuel) and adds 20-40% markup.
A) Penetration pricing
B) Value-based pricing
C) Cost-plus pricing
D) Price skimming
- 2. Convenience store chains (7-Eleven vs. Ministop) pricing soft drinks close to each other; mobile prepaid load resellers matching GLOBE/Smart promos.
A) Price skimming
B) Geographic pricing
C) Competitive pricing
D) Product line pricing
- 3. Specialty coffee shops in Manila charging higher prices for single-origin beans and premium experience; telehealth or professional consultancy fees priced by perceived benefit.
A) Value-based pricing
B) Penetration
C) Competitive pricing
D) Bundle pricing
- 4. A new ride-hailing competitor offering discounted introductory fares; new snack brand launching at a promo price in supermarkets
A) Price skimming
B) Psychological pricing
C) Penetration pricing
D) Cost plus pricing
- 5. Electronics importers selling new smartphone models at high initial prices in niche Manila stores, then reducing after competitors enter
A) Dynamic pricing
B) Loss-leader pricing
C) Price skimming
D) High-low pricing
- 6. Department stores and online sellers end prices with.00 for luxury items or .99/.95 for bargains; SM, Lazada, Shopee sales use charm pricing.
A) Psychological pricing
B) Value-based pricing
C) Penetration pricing
D) High-low pricing
- 7. Budget detergent brands sold in small sachets or warehouse retailers selling basic rice varieties cheaply.
A) Penetration pricing
B) Geographic pricing
C) Budget/combo pricing
D) Economy pricing
- 8. Supermarkets advertising very low prices on rice or chicken to drive store traffic during fiesta/seasonal promos, telcos offering free first month of streaming service to drive subscriptions
A) Economy pricing
B) Loss-leader pricing
C) Penetration pricing
D) Dynamic pricing
- 9. Department stores with regular "mid-year" or "ber" season sales-original price is high, then big markdowns later
A) Fremium pricing
B) High-low pricing
C) Promotional pricing
D) Price skimming
- 10. Grab surge fares during rush hour or typhoon events; online platforms adjusting ad bids
A) High-low pricing
B) Value-based pricing
C) Dynamic pricing
D) Promotional pricing
- 11. SaaS platforms (accounting, e-learning) offering free tier and paid premium tiers; streaming services with monthly subscription.
A) Promotional y
B) Dynamic pricing
C) Competitive pricing
D) Freemium /trial / subscription models
- 12. Appliance models (basic fan, fan with timer, premium fan with remote); telco voice-only SIM, SIM+data, SIM+data+premium service plans.
A) Promotional pricing
B) Product line pricing
C) Competitive pricing
D) Value-based pricing
- 13. Price differences between Metro Manila branches and provincial outlets; higher tourist prices at Boracay or Baguio
A) Penetration pricing
B) Geographic pricing
C) Dynamic pricing
D) Competitive pricing
- 14. Lazada/Shopee voucher days; mall vouchers during "Ber" months; restaurant discount coupons.
A) Price skimming
B) Penetration pricing
C) Promotional pricing
D) Value-based pricing
- 15. Aligns services with tourist expectations
A) Yes
B) Importance in Tourism & Hospitality (Market Research)
C) No
D) Maybe
- 16. Customer-driven and experience-based industry
A) Market research (Importance in Tourism & Hospitality)
B) Key factors in Tourism & Hospitality
C) None of choices
D) Both right
- 17. Supports pricing, promotion, and location decisions
A) No
B) Yes
C) Market Research ( lmportance in Tourism amd Hospitality)
D) Maybe
- 18. Assuming customer preferences without validation
Ignoring data trends and statistics
Launching business without feasibility analysis
A) Yes
B) Maybe
C) Not really sure
D) Common Entrepreneurial Mistakes
- 19. 1. Identify research problem or objective
2. Define target market
3. Select research method
4. Collect data
5. Analyze and interpret results
6. Make business decisions
A) Market Research Process
B) Market Research Proposal
- 20. Title of the study
Research objectives
Target respondents
Research method
Expected output and business implication
A) Market Research Process
B) Market Research Proposal
- 21. Opportunity-focused way of thinking
Adaptability to change and uncertainty
Calculated risk-taking
Continuous learning and improvement
A) Why Mindset Matters in Tourism & Hospitality
B) Trait in Focus: Opportunity Seeking
C) Understanding the Entrepreneurial Mindset
D) Entrepreneurial Traits
- 22. Highly competitive service industry
Customer expectations constantly change
Seasonality and external risks affect demand
Strategic thinking ensures business survival
A) Why Mindset Matters in Tourism & Hospitality
B) Entrepreneurial Traits
C) Opportunity seeking
D) Understanding the Entrepreneurial Mindset
- 23. Opportunity seeking
Risk-taking
Creativity and innovation
Self-confidence and leadership
Persistence and resilience
Customer orientation
A) Applying Traits in Tourism & Hospitality
B) Trait in Focus: Opportunity Seeking
C) Key Entrepreneural Traits
D) Understanding entrepreneural mindset
- 24. Identifying unmet customer needs
Recognizing gaps in tourism services
Turning challenges into business ideas
A) Trait in Focus: Opportunity Seeking
B) Applying Traits in Tourism & Hospitality
C) Why Mindset Matters in Tourism & Hospitality
D) Key Entrepreneurial Traits
- 25. Creative tour packages and experiences
Small-scale hospitality startups
Personalized customer service strategies
Managing off-season and crisis periods
A) Key Entrepreneural Mindset
B) Key Entrepreneural Traits
C) Why Entrepreneural Mindset Matter
D) Applying Traits in Tourism & Hospitality
- 26. focus on growth and value creation
A) Employee
B) Entrepreneurs
- 27. focus on task execution
A) Employee
B) Entrepreneur
- 28. Ability to generate new ideas
Seeing things differently
Imptoving existing services
A) Opportunity
B) Experience-based
C) Creativity
- 29. Experience-based industry
Focus on customer satisfaction
Innovation in service delivery
A) No
B) Creativity in Tourism and Hospitality
C) Maybe
D) Yes
- 30. Identifying unmet needs
Recognizing market gaps
Turning problems into business ideas
A) Source of Opportunity Recognition
B) Opportunity Recognition
- 31. Customer complaints
Trends and Changes
Local resources
A) Source of Opportunity Recognition
B) Creativity
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