NEW
Font size
WorksheetsEntrepreneurship Chapter 3 & 4 Review
Total questions: 15
Worksheet time: 8mins
Which of the following is NOT one of the main purposes of a business plan?
it sets specific business objectives
it describes the backgrounds and experience of the business’s leadership team
it includes sales goals for at least 10-12 years into the future
it explains the idea behind a business
A business plan
is useful once your business is operational but is not much help during the startup phase
is not usually needed to secure financing for your business
can serve as a tool for managing your business once it is up and running
all of the above
How long do most entrepreneurs spend developing their business plans?
10-20 hours
20-50 hours
50-100 hours
100-150 hours
Business plans should always be handwritten.
True
False
Which of the following is NOT included in the introductory elements of a business plan?
cover letter
title page
tax returns of the business owner
statement of purpose
Which part of the business plan includes supporting documents that back up statements made in the body of the report?
the executive summary
the appendix
the table of contents
the concluding statement
A market segment consists of people with common characteristics.
True
False
Surveys should be no more than five pages long if they are mailed to respondents.
True
False
Which question should an entrepreneur answer in order to identify the target market?
How old are my customers?
What needs or wants will my product satisfy?
How much money do my customers have?
all of the above
Which of the following is an example of psychographic data?
single man, age 25, income of $50,000/year
suburban dweller, loves country music, eats pizza twice weekly
Hispanic woman, bachelor’s degree, librarian
all of the above
The most common type of primary market research is
a focus group
direct observation
a survey
magazine and newspaper articles
The FIRST step of primary market research is to
determine the data needed
collect the data
analyze the data
define the question
In a CRM system, any type of interaction a customer has with a company is called a
business contact
touch point
marketing interaction
B2C interface
Which of the following would likely be the target market for a coffee shop that is located downtown?
stay-at-home moms
young professionals
families
senior citizens
Marti’s Boutique sells custom-made dresses. Which of the following is an indirect competitor to Marti’s Boutique?
Peaches Prom Dress Boutique
Frieda’s Dress Shop
Macy’s Department Store
all of the above
