E-Trip KM 1-9

Which of the following would be indirect competition for a candy store?

• Walmart, which sells candy

• A hard candies boutique shop

• A candy superstore

• None of the above

What does SWOT stand for?

• Special Wholesale Offers and Terms

• Simple Ways Of Teambuilding

• Strengths, Weaknesses, Opportunities, Threats

What can make an honest competitive assessment difficult?

• Competitor spying

• Poor calculations

• Emotional attachment to your idea

• None of these

Which is not a common differentiator for businesses?

• Taxes

• Product

• Service

• Price

what might support a premium pricing strategy?

• Forming your business as a corporation

• Fresh ingredients

• 24 hour operation

• None of the above

An ice cream cone is a:

• Good

• Service

A business can compete on both product and service

• True

• False

an entrepreneur should examine _____________

when exploring opportunities.

• Her hobbies & interests

• Her health history

• Her legal history

• None of the above

Offering a better warranty is an example of competing on:

• Product

• Service

• Price

A business plan is best described as:

• A 30-second pitch given to investors

• The historical record of what's been done with the business so far

• A blueprint for the business

• A projection of all possible future scenarios