Business of Arts & Communications

What is the primary purpose of a business plan?

• To secure funding

• To provide a roadmap for the business

• To analyze competitors

• All of the above

Which of the following is NOT typically included in a business plan?

• Executive summary

• Marketing strategy

• Personal budget

• Financial projections

What is the term for a unique name, symbol, or design that identifies a business?

• Copyright

• Patent

• Trademark

• Slogan

A sole proprietorship is a business that is:

• Owned by one person

• A nonprofit organization

• Owned by multiple people

• Run by the government

What is the advantage of a Limited Liability Company (LLC)?

• Owners are not personally liable for business debts

• It is the easiest business structure to form

• It is exempt from taxes

• It is only for large corporations

The 4Ps of marketing include:

• Product, Price, Promotion, Place

• People, Profit, Planning, Promotion

• Production, Price, Publicity, Place

• Planning, Process, Publicity, Price

What does a brand identity include?

• Logo

• Color scheme

• Fonts and messaging

• All of the above

Which social media platform is best for professional networking?

• Instagram

• TikTok

• LinkedIn

• Pinterest

Target audience refers to:

• A company’s employees

• The group most likely to buy a product or service

• Competitors in the same industry

• The financial supporters of a business

A call-to-action (CTA) is used to:

• Encourage the audience to take a specific action

• Describe the company’s history

• Define the business mission

• Provide customer service