1. your friend is developing a marketing plan for her new business. what should she put in this plan?
a. where she wants to sell her product
b. the price of her product
c. a description of the people in her target market
d. all of the above
2. which statement is the best description of value proposition?
a. the cost of creating the product.
b. a component of the business plan that identifies the target market for the product.
c. the features and benefits that make the product or business unique.
d. none of the above
3. what is the main purpose of developing business pitch?
a, to tell investors all the important details and goals of your business so they don't need to read the business plan.
b. to provide customers with an in-depth description of how your business was formed.
c. to briefly share the most important information about your business to people in an engaging way.
d. to determine whether your business idea is a business opportunity.
4. which of the following is probably not an important point to include in a business pitch?
a. a detailed description of the meaning behind the company's name.
b. the problems that the product or service solves or the demands it meets.
c. how the product or service is different.
d. clear reasons why the potential customers and investors should care about the business.
5. why is it important to conduct market research on your target audience before building your marketing plan?
a. newspapers and magazines will give you a discount on advertisements if you show them your research.
b. you need to consider who your potential customers are before deciding on marketing strategies.
c. customers enjoy sharing their opinions, so market research will make your product sell more.
d. it doesn't matter which one you do first.