HELE 6 - Business Plan Review

Why is it important for businesses to maintain fairness in pricing and offer discounts when necessary?

• To make products less affordable

• To discourage customers from buying

• To build customer trust and loyalty

• To make the prices higher

Why is it important for all businesses to have a business plan?

• Because it's a tradition

• Because the government requires it

• Because it helps guide decision-making and sets goals

• Because it looks good on social media

Your group wants to open a food stall selling healthy snacks. What part of the business plan would outline how you plan to advertise and attract customers to your food stall?

• Business Name

• Marketing Strategy

• Product Description

• Business Logo

Your family's grocery store wants to attract more customers. What could be a pricing strategy to achieve this?

• Increasing the prices of products

• Offering discounts on selected items

• Keeping the prices fixed without any changes

• Making the prices higher than other stores

What did Benjamin Franklin mean when he said, "If you fail to plan, you plan to fail"?

• You should always have a backup plan

• It's better to never plan at all

• Planning is essential for the business’s success

• He was talking about planning a vacation

You and your friends decide to start a small business selling handmade crafts at a local fair. What is the most important reason for creating a business plan?

• To impress potential investors

• To have something to show the teacher

• To understand how your business will operate and make money

• To avoid doing any actual work

Your class is organizing a charity event “MINI NE6OSYO” to raise funds for your partner public school. What part of the business plan would outline how you plan to promote the event and attract customers?

• Mission Vision Objectives

• Product Description

• Promotion Strategy

• Market Analysis

You and your friends are launching a clothing shop. What part of the business plan involves designing a logo that represents your brand and appeals to your target buyers?

• Market Analysis

• Business Logo

• Mission Vision Objectives

• Promotion Strategy

You're selling lemonade at a neighborhood stand. The total cost for lemons, sugar, and cups is Php 300.00, and you plan to sell  25 cups of lemonade. What should be the fair selling price per cup to ensure you cover your costs and make a profit with a 30% markup?

• Php 16.00

• Php 17.00

• Php 18.00

• Php 19.00