3. Which one of the following marketing strategies is not the core element for the existence of Entrepreneurs? A. Product B. Price C. Promotion D. Trade mark Which one of the following statements does not reflect the contribution of entrepreneurs to the society? A. Employment B. Independence 5. The ultimate goal of marketing in small business context is A Facilitating effective exchange B. Facilitating money generation C. Balanced development D. Equitable distribution of wealth C. Facilitating construction D. Facilitate globalization 6. The stage of new product development at which product prototype or sample may be developed is A. Product development C. Commercialization B. Market testing D. Equitable distribution of wealth 7. An entrepreneur's belief that his destiny is within his control and external forces will have little influence is demonstrated by one of the following characteristics A. Risk taking Internal locus of control B. Hard working D External locus of control 8. Which one of the following statements is incorrect about entrepreneur? A. Who has the ability to see and evaluate business opportunities B. Who has the ability to gather the necessary resources, to take advantage of opportunities C. Who has the ability to take risk and initiate appropriate action to ensure success D. None of the above 9. The marketing strategy that adds place and time utility is A. Product development C Pricing B. Distribution D. Promotion 10 The first step in developing a written business plan is A. Location selection B. Financial statement preparation 11. Which of the following statement is/are not a success factor for small business? A. Effective and efficient management B. Proper location, layout and size 12. From the core concepts of marketing, customer ability and willingness to buy can be represented A Need X B. Demand C. Identifying and evaluating a business idea D. All of the above C. Adequate finance D. Ambiguous objectives C Want D. Transaction & commence sites such as Amazon & Endless. Page 3.​