this is a written description of a new business venture that describes all aspects of the business
What is a business plan
100
A grid that compares characteristics of one business with its competitors
What is Competitive Matrix
100
T/F: In market research, competitive data could include the number of employees and the annual sales of a competitor.
True
100
Grouping of consumers within a particular market that have one or more things in common
What is Market Segment
100
B2C
What is a company that sells their product/service directly to a consumer
200
This expresses the major goals a company will try to reach
What is Mission Statement
200
Something that puts a business ahead of its competitors
What is Competitive Advantage
200
The strengths and weaknesses of a business
What will a SWOT analysis reveal to competitors?
200
New marketing information that is collected for a particular purpose
What is Primary Data
200
Brief explanation of why you are asking for money and what you plan to do with the loan
What is Statement of Purpose
300
This part of a business plan includes descriptions of a product's market niche, pricing, company image, marketing tactics, a media plan, and a marketing budget
What is Marketing Plan
300
Data that businesses collect on their competitors
What is Competitive Intelligence
300
Market segment based on where a consumer/business lives
What is Geographics
300
Small group of people brought together to discuss a product or service
What is Focus Group
300
Introduction, marketing, financial management, operations, and concluding statement
What are the 5 elements of the main part of a business plan
400
This statement establishes the scope and purpose of a company and reflects its values and beliefs
What is Vision Statement
400
Two businesses that sell different products but have the same customer need and want
What is Indirect Competitors
400
The maximum number of companies the industry can support
What is Carrying Capacity
400
The personal financial statement of the owner is included in this section of the business plan
What is Appendix
500
This is a backup plan for a business in case of hard times and suggests a way to minimize risk to the business
What is Contingency Plan
500
Characteristic that distinguishes one business from another
What is Differentiator
500
Selling to a certain group of people who will most likely buy your product
What is Target Market
500
True/False: Information about insurance and rental/lease agreements should be included in the operations section of your business plan.
True
500
Data supplied by a marketing organization, annual school testing results, government health statistics.....