Trying to create a manufacturing facility to start creating laundry detergent to compete with Tide and all would encompass high costs. The costs would be considered a ______________ barrier.

Inability to enter a market due to the complexity of ____________ channels and high costs to entry.

A PEST analysis assesses the internal factors in a market.

Strengths and Weaknesses in a SWOT analysis assess internal factors in a company.

Opportunities and Threats in a SWOT analysis assess internal factors in a company.

Laws, government funding, and tax rates are a part of the _____________ factors in a PEST analysis.

Economic stability and wages are a part of the _____________ factors in a PEST analysis.

New ways to transact business are a part of the _____________ factors in a PEST analysis.

Demographics and population are a part of the _____________ factors in a PEST analysis.

A SWOT analysis is used by organizations to analyze internal strengths, weaknesses along with external opportunities and threats.

All of the following are part of Porter's 5 forces except:

It is important to analyze the number of competitors and their ability to threaten your company. Which of the following is true based on this statement?

Threat of _____________ occurs when a competitors’ _____________ can be used in place of a company’s product or service.

High overhead costs would be an _______________ factor.

An example of a strength in a SWOT analysis would be:

An example of an opportunity in a SWOT analysis would be:

Gaining _______________ is a barrier of entry into supermarkets.

If there are few suppliers, a company will be very dependent on that supplier and the supplier will have more power.

A segment of the economy is made up of a particular good or service.

The process of gathering data about people or companies and then analyzing it to better understand what that group of people needs.

A particular group of consumers at which a company aims its products and services.

The study of a population based on age, race, gender, and education.

Analysis of consumers based on benefits, usage rates, and buying patterns.

The process of dividing a market into smaller segments based on demographic, behavioral, psychographic, and geographical differences.

Analysis of consumers based on personality, values, attitudes, interests, and lifestyles.

Analysis of consumers based on local, national, international, and regional characteristics.

Data that describes certain distinctions based on some quality or characteristics.

Data that contains information regarding quantities, that can be measured and interpreted with numbers.

First-hand information that you gather yourself.

Pre-existing public information such as data in a magazine, newspaper, or government report.

If you create a survey to issue to people who eat fast food; what type of data would you be gathering.

You find a great deal of information in the wall street journal that you would like to apply to your next start-up venture. The information that you obtained from the newspaper would be considered___________.

Attitudes, values, and interests are examples of demographics.

Analyzing climates would be considered geographic data types.

Market segmentation can help a company increase its market share by:

What is the difference between geographics and psychographics?

Why should companies identify their target markets?

The 80/20 rule means:

What can supermarkets do with the information gathered from your purchases?

The ___________ helps connect entrepreneurs with lenders to help them plan, start and grow their business.

A very detailed and comprehensive plan that sets out business objectives and strategies for achieving them.

High-Level focus plan, fast to write, and contains key elements only. Also referred to as a business model canvas.

A comprehensive plan that shows steps that will be taken to advertise a target market.

A detailed plan describing the planning, monitoring, and controlling efforts in an organization.

A plan for future financial projections. Income statement, Balance Sheet, and Cash Flow statement should be included.

Combination of internal and external factors that influence the company's operating situation. Some characteristics include competition, technology, laws, and government.

The reason why customers turn to one company over another company. It should solve a customer's problem and satisfy a need.

Part of the lean start-up plan that states office, human resources, transportation, etc.

The __________ generate: value, distribution, customer relationships, and revenue.

The external companies or suppliers that are needed to deliver value to customers.

How a company generates revenue from customer segments.

How a company communicates with and reaches customer segments to deliver a value proposition.

Different groups of people or organizations that an enterprise wishes to reach and serve.

Drivers with cars would be considered a ________________ to Uber.

Uber’s value proposition would be lower cost and fast pick-up.

A key partner to Spotify would-be musicians and record companies.

The reason why customers turn to one company over another company is known as a key resource.

Product/Services is a section in the traditional business plan.

The SBA creates business plans for entrepreneurs.

What type of data is collected through interviews and focus groups to understand consumer behavior?

Which component of a business model canvas focuses on the unique value a company offers to its customers?

Which analysis tool is used to evaluate the external opportunities and threats faced by a business?

What is the primary purpose of conducting market research?

Which of the following is not a component of a SWOT analysis?