NEW
Font size
WorksheetsI2E: Chap 3-4 Review: Business Plan & Markets
Total questions: 25
Worksheet time: 13mins
Describes the way the company generates revenue and makes a product
Business plan
Business model
Model Business
Written document that describes all the steps necessary for opening and operating a successful business
Business plan
Business model
Business
Corporation
Way an entrepreneur intends to extract their money from a business after it is operating successfully
Business Plan
Business Model
Exit Strateigy
He gone
Introduces and explains an accompanying document
Business Plan
Business Model
Cover Letter
Statement of Purpose
Brief explanation of why you are asking for a loan and what you plan to do with the money
Cover Letter
Exit Strategy
Business Plan
Statement of Purpose
Individuals/companies that are interested in a particular product/service and are able to pay for it
Target Market
Cost Market
Target
Wants
Needs
Group of customers within a large market who share common characteristics
Market Segment
Target Market
Market
Supermarket
Which is not an example of a target market
age
income level
location
competition
Description of the characteristics of the person/company that is likely to purchase a product/service
Market Segment
Target Market
Customer Profile
Supermarket
Data that describes a group of people in terms of age, marital status, family size, ethnicity, gedner, profession, education and income
Customer Profile
Demographics
Psychographics
Geographic Data
Data that describes a group of people in terms of their tastes, opinions, personality traits, and lifestyle habits
Customer Profile
Demographics
Psychographics
Use-Based Data
Data that helps you determine how often potential customers use a particular service
Demographics
Psychographics
Use-based Data
Geographic Data
Data that will help you determine where your potential customers live and how far they will travel to do business with you
Demographics
Psychographics
Use-Based Data
Geographic Data
System for collecting, recording, and analyzing information about customers, competitors, products, and services
Market Research
Target Market
Primary Data
Secondary Data
Information collected for the very first time to fit a specific purpose
Primary Data
Secondary Data
Found in already published sources
Primary Data
Secondary Data
List of questions you would like to ask your customers
Survey
Focus Groups
Google Form
Quizlet
Quizizz
In-depth interview with a group of target customers who provide valuable ideas on products/services
Survey
Focus Groups
Market Research
Business that makes most of its money selling the same products/services to the same market as other businesses
Direct Competition
Indirect Competition
Business that makes only a small amount of money selling the same products/services to the same market as other businesses
Direct competition
Indirect competition
Boots
Identifying and examining the characteristics of a competing firm
Competitive analysis
competition
Pivoting
After developing an idea/product that was not successful, reexamine the idea until they come up with something successful
Data mining
Data warehouse
EDI
Pivoting
Where data is stored
Data warehouse
Data mining
Data where
Used to find hidden patterns and relationships in the customer data stored in the data warehouse
Data warehouse
Data wherehouse
Data mining
Gold mining
Where's Waldo
A company's efforts to understand customers as individuals instead of as part of a group
Customers Relationship Management
Consumers Relationship Management
Social Media Marketing
