Spelling Bee
Spell the word meaning a person who starts a business.
What is "entrepreneur"?
In 30 seconds, pitch a water bottle to a college student.
Must explain why the student needs it and why they should choose this bottle.
A product costs $20 and is 25% off. What is the sale price?
What is "$15"?
What does CEO stand for?
What is "Chief Executive Officer"?
What is a logo used for?
What is "to visually identify (and represent) a company or brand"?
Spell the word for a person or company that buys goods or services from a business.
What is "customer/consumer"?
Pitch a campus food-delivery service in 20 seconds.
Must identify the problem, solution, target customer, and benefit.
You buy 10 shirts for $15 each. How much did you spend?
What is "$150"?
What is profit?
What is "the money left after subtracting expenses from revenue"?
What is a company's target audience?
What is "the specific group of customers a company wants to reach"?
Spell the word for the process of promoting and selling products or services.
What is "marketing"?
Pitch a product that helps college students save time. You have 30 seconds.
Must clearly explain the product, problem, target customer, and value.
A business makes $5,000 in revenue and has $3,200 in expenses. What is its profit?
What is "$1,800"?
What is the difference between revenue and profit?
What is "revenue is the total money coming in; profit is what remains after expenses"?
What is brand awareness?
What is "how familiar consumers are with a company or brand"?
Spell the word for money earned from selling products or services.
What is "revenue"?
Convince an investor to give your company $100,000 in 30 seconds.
Must explain the product, target market, business opportunity, and why the investment could generate returns.
A product costs $40 to make and sells for $65. What is the profit margin?
What is "38.46%"?
What is a business model?
What is "the way a company creates value and makes money"?
A company has a great product but almost nobody knows it exists. What marketing problem does it have, and what could it do to fix it?
What is "low brand awareness; it could increase advertising, social media, influencer marketing, or other promotional efforts"?
Spell the word meaning the amount of money a business owes.
What is "liability"?
You have 45 seconds to pitch a completely new product to a skeptical investor. You must explain the product, target customer, problem it solves, competitive advantage, and how the company will make money.
Answers vary; must address all required elements.
A company has $50,000 in revenue and $30,000 in expenses. Expenses increase by 20%. What is the company's new profit?
What is "expenses become $36,000 → $14,000 profit"?
A company has $100,000 in revenue, $60,000 in operating expenses, and $10,000 in taxes. What is its net profit, and what is its profit margin?
What is "$30,000 net profit; 30% profit margin"?
A company launches a product aimed at college students, but sales are much lower than expected. Identify three possible reasons and explain how the company could investigate each one.
Answers vary...
Examples: poor marketing → analyze campaign reach; wrong pricing → research competitors/customer willingness to pay; weak product-market fit → conduct surveys/focus groups; strong competition → analyze competing products