Business Essentials (FC-8)

Starting a new business is also known as

• LIQUIDATION

• DIVERSIFICATION

• ENTREPRENEURSHIP

• AMORTIZATION

The best definition of MARKETING is that it is the process of

• planning, pricing, promoting, distributing, and selling a product or service

• optimal product placement

• product research and development

• organizing and starting a business in a unique setting

A RETAIL business is one in which products/services are

• provided at a discount

• marketed online

• sold online

• sold directly (in person) to a consumer

A product sold targeting a particular region is known as a

• GEOGRAPHIC Target Area

• DEMOGRAPHIC Target Area

• BEHAVIORAL Target Area

• GEOPHYSICAL Target Area

A product or service targeted to people who are of a certain age group, generation, or "type" is called a

• GEOPHYSICAL Target Area

• DEMOGRAPHIC Target Area

• GEOGRAPHIC Target Area

• BEHAVIORAL Target Area

A product or service targeted to a hobby, occasion, or condition is called a

• GEOPHYSICAL Target Audience

• DEMOGRAPHIC Target Audience

• BEHAVIORAL Target Audience

• GEOGRAPHIC Target Audience

A VENTURE CAPITALIST

• invests capital in exchange for a stake in a business

• a government official who regulates new businesses

• an advisor for cost-cutting

• an entrepreneur who starts a chain of businesses

An ELEVATOR PITCH is a way to connect an ENTREPRENEUR and an INVESTOR.

It is known to

• be INVOLVED

• be BRIEF

• include a PROTOTYPE

• always SUCCEED

The process of finding an efficient and cost-effective way of getting goods to a consumer.

• SUPPLY CHAIN

• PATENT

• LOGISTICS

• ROYALTY

The network involved in moving goods from being raw materials to finished product to a supplier to a producer to a warehouse to a consumer

• MARKETING

• LOGISTICS

• ASSET MANAGEMENT

• SUPPLY CHAIN