Business Basics (FC-7)

An ENTREPRENEUR is . . .

• someone who starts his or her own business

• an investor in a business

• a customer in a business

• the person who takes the money in a business

The process of planning, pricing, promoting, distributing, and selling a product or service is . . .

• SUPPLY AND DEMAND

• PRODUCT PLACEMENT

• CONSUMERISM

• MARKETING

Creating a unique name, design, slogan, and symbol that differentiates a product or business

• PROTOTYPE

• BRANDING

• PROFIT

• PATENT

a form of communication intended to persuade an audience to buy a product or service

• DEMOGRAPHIC

• UNIQUE VALUE PROPOSITION

• ADVERTISING

• RETAIL

the PLAN of HOW a business will sell its product (a.k.a. the position statement)

• The BEHAVIORAL TARGET

• The UNIQUE VALUE PROPOSITION

• MARKETING PLAN

• AD CAMPAIGN PLAN

A RETAIL business is one concerned with selling products . . .

• directly to a consumer (in person)

• through the internet

• through the postal service

• only in a resale establishment

An explanation of a product or service's advantages over competing alternatives is called a . . .

• A Supply Chain

• A Patent

• A Unique Value Proposition

• A Common Value Proposition

The "Target Market" (a.k.a. "Target Audience") is . . .

• the geographic location where the product will be sold

• a product targeted toward a particular kind of investor

• a product most likely meant for the public

• the specific group the business wants to reach

The person who often invests CAPITAL in exchange for EQUITY is called a . . .

• PROTOTYPE

• VENTURE CAPITALIST

• ANGEL INVESTOR

• ROYALTY

Which of the following is a company's LOGO?

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