Personal Entrepreneurial Competencies, Product Development & Branding

46 fill-in-the-blank flashcards covering entrepreneurial competencies, product development stages, USP, idea generation, branding fundamentals, and logo design principles.

An entrepreneur who works diligently and consistently is __.

Hardworking

Entrepreneurs who have self-reliance in their ability and judgment are __.

Confident

Successful entrepreneurs who stick to the plan are __.

Disciplined

Good entrepreneurs who assume full responsibility over their business are __.

Committed

The competency that involves coping with and thriving on changes is __.

Ability to accept change

Being innovative and original to stay competitive means being __.

Creative

Taking action without prompting and owning results shows __.

Initiative

Entering business to generate income shows a __ orientation.

Profit-oriented

Strategic thinking and goal-setting describe an __.

Excellent planner

Effective communication and relationship building are called __.

People skills

The ability to think quickly and make wise choices is __.

Sound decision-making

__ is the process of making a new product or modifying an existing one to satisfy customer needs.

Product Development

The first product-development question asks: For whom are the __ aimed at?

Product/services

Basic commodities, clothing, shelter, and education are examples of __.

Needs

Desires and luxuries that signify wealth are considered __.

Wants

Gathering customer information through surveys and interviews occurs in the __ stage.

Identify Customer Needs

Studying rival offerings for design clues happens during __.

Analyze Competitive Products

A __ is essentially a wish-list of desired product attributes.

Target specification

Developing several feasible product ideas happens when you __.

Generate Product Concepts

Evaluating attributes to pick the final idea is the __ stage.

Select a Product Concept

Specifications are fine-tuned during __.

Refine Product Specifications

Estimating costs and prices is part of performing __ analysis.

Economic

Creating a schedule with milestones happens when you __ the remaining development project.

Plan

USP stands for __.

Unique Selling Proposition

In USP, the word __ means it sets you apart from competitors.

Unique

A short phrase next to a logo is called a __, and it is NOT a USP.

Tagline (or Slogan)

Domino’s promise "Fresh hot pizza, delivered in 30 minutes or less or it’s FREE!" is an example of a __.

USP

Putting yourself in customers’ shoes is using __.

Empathy

Finding out what drives customers to buy helps __ customer desires.

Identify

A competitive entrepreneur seeks the customers’ genuine reasons for __ the product.

Buying

Looking at existing products to find improvements means to __ existing goods and services.

Examine

The demand for products and services in a market is called __.

Market demand

Observing abundant materials or skills relates to examining the __ resources.

Available

__ is the process of giving meaning to an organization, product, or service by shaping a brand in consumers’ minds.

Branding

A strong brand should deliver its message clearly and __ credibility.

Confirm

A simple tip to publicize a brand is to develop a __.

Tagline

A logo people recognize immediately is described as __.

Simple

A logo that looks good at any size is __.

Scalable

Logos that leave a lasting impression are __.

Memorable / Impactful

A logo that looks good on web and print is __.

Versatile

Using appropriate colors ensures a logo is __ to your practice.

Relevant

Logos made entirely of stylized text are called __.

Wordmarks

Logos that use company initials are __.

Lettermarks

A pure symbol logo is known as a __.

Brandmark

A logo combining text and symbol is a __ mark.

Combination

A logo with text inside a symbol forms an __.

Emblem