Chapter 5 Entrepreneurship

A tool for organizing important information about a business venture’s competition

To save time, investors and lenders rely on the business plan for decision making

The marketing plan includes

A business plan should be written prior to conducing a feasibility analysis.

People most likely to buy a business’s products and services are referred to as:

Research into the companies providing similar goods is covered in the industry overview

The distribution channel through which a product flows from the producer to the customer.

A feasibility test should not be used to test a concept in the marketplace

The company description section of the business plan outlines the managers background info

Business concepts need to be tested in the market

A document that describes a new business and a strategy to launch that business

The process that tests a business concept

A clear and concise description of a business opportunity is referred to as:

Delivering a service or product using a middleman is

The nature of your business and the unique features of the product or service is covered in

A feasibility analysis can help determine whether business conditions are appropriate

A working model used to determine what it takes to develop their products or services

A description of how entrepreneurs plan to make money with their business concepts is

Things that promote or enhance the value of a product or a service to the customer are

To begin developing a business plan

A group of businesses with a common interest is referred to as:

Defining a prospective business by writing a clear and concise business concept is important

The operational plan describes the distribution channel of the product or service

The product or service, the customer, the benefit, and the distribution are part of the:

The management team presents your qualifications and those of any partners.

Distinctive aspects, qualities, or characteristics of a product or service are

A business plan presents a strategy for turning a feasible business concept into a business.

The feasibility analysis is testing the business concept's

The executive summary is written ________ the business plan

Delivering a service or product directly to the customer is

A brief recounting of the key points contained in a business plan

Research on the customer profile gathered from primary/secondary marketing research resources

A business plan will help the entrepreneur develop a strategy for executing the concept.