Entrepreneurship Teacher Made Final Exam F24

Front

Your friend is developing a marketing plan for her new business. What should she put in this plan? Options: Where she wants to sell her product, The price of her product, A description of the people in her target market, All of the above

Back

All of the above

Front

Which statement is the best description of a Value Proposition? Options: The cost of creating the product. A component of the business plan that identifies the target market for the product. The features and benefits that make the product or business unique. None of the above

Back

The features and benefits that make the product or business unique

Front

What is the main purpose of developing a business pitch/presentation?

Back

To briefly share the most important information about your business to people in an engaging way.

Front

Which of the following is probably NOT an important point to include in a business pitch? A detailed description of the meaning behind the company's name. The problems that the product or service solves or the demands it meets. How the product or service is different. Clear reasons why the potential customers and investors should care about the business.

Back

A detailed description of the meaning behind the company's name.

Front

Why is it important to conduct market research on your target audience before building your marketing plan?

Back

You need to consider who your potential customers are before deciding on marketing strategies.

Front

Before you buy something you want, you should buy____

Back

something you need.

Front

They create a product, such as a factory that creates shoes.

Back

Manufacturers

Front

A potential group of customers, people or businesses that are able and willing to purchase a particular product or service.

Back

Market

Front

They sell directly to the customer, for instance a local shoe store that gets its shoes from the different shoe company to sell to customers that come into the store.

Back

Retailers

Front

They sell products in larger volumes (but less than the manufacturer) to the retailer, such as a global shoe company that gets its shoes made by a factory and then sells them to local stores.

Back

Wholesalers