PBMF Mid Semester Review

A(n) ___ questions you would like to ask your customers to find out demographic info

businesses generate fresh produce and other farm products.

A(n) __________ is an evaluation of your strengths and weaknesses.

thousands of retired executives who give their time to entrepreneurs with real-world advice

a new marketing trend that focuses on understanding customers as individuals

Identifying and examining the characteristics of a competing firm is called a(n) __________

letter that introduces and explains an accompanying document or set of documents is called a __

Organizations made up of professionals in a specific industry are called __________.

In ___economy, the government determines how, products and services are produced.

The ability to learn a particular kind of job is called ___

strategy is the way an entrepreneur extracts their money from a business.

___ cost measures the disadvantages of producing one additional unit of a good or service.

Groups of customers within a large market who share common characteristics are called _________

the process of running a business on one’s own is called.

written document that describes all the steps for opening and operating a successful business

Data that describe a group of people of age, marital status, family size, income, etc.

The first step in the problem-solving model is to __________ the problem.

A business that makes most of its money selling the same or similar products to the same market

A(n) __________ is a short restatement of your business plan

The difference between the revenues earned by a business and the cost of operating a business

___ exists when a market is dominated by a small number of businesses

___occurs when workers focus on single tasks, allows each worker to become more productive.

used to find hidden patterns and relationships in the customer data stored in a data warehouse

A(n) ___ goal might include how much money your business will earn and how you pay of debts

A financial statement based on projected revenues and expenses is called _ financial statement.

__________ are the means through which goods and services are produced.

is the movement of data between locations in a structured, computer-retrievable format.

A possibility that arises from existing conditions is called a(n) __________.

Data that help you determine where your potential customers live and how far they will travel

The American Recovery and ___Act of 2009 stimulates the American economy.

The quantity of a service that consumers are willing to buy at a given price is called ___.

Special meetings where companies of the same industries display their products are called ___

The __________ consists of product, distribution, price, and promotion.

The U.S. __________ is an independent agency of the federal government to help grow businesses.

resources to meet needs and wants are limited

___ is a creative problem-solving technique that generates a large number of fresh ideas

interview with several target customers provides ideas on products & services is called a __