9 Steps to Starting Your Own Business Quiz

Name

Period

Date

Which of the following is NOT a characteristic of differentiated offering?

• It must be different than anything else
• Must be defensible
• It is hard for competition to copy
• All of the above are true

Which of the following is NOT an example of geographical variable used in segmentation of a market?

• region
• age
• size of area
• climate

What is a one-page chart that shows you the financial projections of starting a new business?

• differentiated forma
• marketing forma
• selling forma
• pro forma

It is normal to have a negative result when using a pro forma in the early stages of starting your business.

• True
• False

What is marketing?

• communicating information about your product to large numbers of potential customers
• distinguishing your product or offering from others with similar products
• setting up legal structure for your business to adhere to
• protecting your small business from unfortunate accidents

What are some characteristics of marketing and selling strategies?

• memorable/distinctive imaging
• best ads, offering something irresistible
• emotional bond
• all of the above

What is capital?

• money you borrow when starting a small business
• money given to you by investors when starting a small business
• money borrowed to be paid back with interest
• money borrowed to buy equiptment