________ feasibility is an assessment of the overall appeal of the product or service being proposed.
What is product and service
100
A ________ market is a place within a larger market segment that represents a narrower group of customers with similar needs.
What is secondary
100
There are two primary audiences for a business plan: investors and other external stakeholders and:
What is a firm's employees
100
According to the textbook, in many instances an investor will first ask for a copy of a firm's ________ and will request a copy of the full business plan only if that portion of the plan is sufficiently convincing.
What is executive summary
100
The ________ section of the business plan addresses the basic logic of how profits are earned in the business.
What is Economics of the Business
200
A(n) ________ involves showing a preliminary description of a product or service idea to prospective customers to gauge customer interest, desirability, and purchase intent.
What is concept test
200
According to the textbook, a business plan is best described as a(n):
What is narrative description of a new business
200
There are three types of business plans:
What is summary business plan, full business plan, operational business plan
200
A company's mission statement should be placed in the ________ section of its business plan.
What is company description
200
A prototype is:
What is the first physical depiction of a new product
300
A ________ survey is an instrument that is used to gauge customer interest in a product or service.
What is buying intentions
300
A business plan is important for two reasons: it forces the founding team to systematically think through every aspect of their new venture and:
What is it communicates the merits of a new venture to outsiders, such as investors and bankers
300
A(n) ________, which is typically 25 to 35 pages long, works best for new ventures who are at the point where they need funding or financing.
What is full business plan
300
A(n) ________ describes why a company exists and what it aspires to become
What is mission statement
300
What section of the business plan deals with the day-to-day operations of a company?
What is operations plan
400
A buying intentions survey is typically administered as part of ________ feasibility analysis.
What is product/service
400
The document that does the best job of introducing potential investors and other stakeholders with the business opportunity the firm is pursuing and how it plans to pursue it is the:
What is business plan
400
A(n) ________, which is intended to be a blueprint for a company's operations, is 40-100 pages long and is meant primarily for an internal audience.
What is operational business plan
400
The ________ section of a business plan breaks the industry into segments and zeroes in on the specific segment (or target market) to which the firm will try to appeal.
What is market analysis
400
(n) ________ is a group of firms producing a similar product or service, such as soft drinks, electronic games, or computers.
What is industry
500
________ feasibility analysis is an assessment of the overall appeal of the industry and market for the product or service being proposed.
What is industry/target market
500
There are two primary audiences for a business plan:
What is a firm's employees and investors and other external stakeholders
500
The ________ is a short overview of the entire business plan.
What is executive summary
500
A competitor analysis should be included in the ________ section of a business plan.
What is market analysis
500
Once a firm decides to enter an industry and chooses a market in which to compete, it must gain an understanding of its competitive environment. This challenge can be undertaken by completing a(n):