Entrepreneurship and Business Plan/Opportunity Analysis

Question 1

Activity that involved gathering and analyzing secondary or primary data about an industry, etc

Accepted Answer

market research

Question 2

Explains what a firm offers and how their products will be priced, distributed, and promoted.

Accepted Answer

Marketing Plan

Question 3

Trends in sales, product innovation, pricing & promotion of competitors in this section opp ana

Accepted Answer

industry analysis

Question 4

Section of business plan that includes a review of an industry, competitor & potential customer

Accepted Answer

opportunity analysis

Question 5

A printed document that is used to gather and record primary data.

Accepted Answer

questionnaire

Question 6

A process that involves grouping customers by similar characteristics they possess.

Accepted Answer

Market segmentation

Question 7

People who form, own and operate businesses.

Accepted Answer

Entrepreneur

Question 8

Info used in the opp ana that is currently available (survey doesn't have 2 be done 2 get info)

Accepted Answer

Secondary data

Question 9

Identifying and recording ideas for new businesses that does not involve evaluating ideas.

Accepted Answer

Brainstorming

Question 10

Qualities used to describe potential customers like age, gender, household size, occupation

Accepted Answer

demographic characteristics

Question 11

People who gather info on industry, potential customers and competitors & make recommendations

Accepted Answer

market analyst

Question 12

Qualities about potential customers that involve their interests and lifestyles.

Accepted Answer

psychographic characteristics

Question 13

Section of opportunity analysis that describes who purchases any products in an industry.

Accepted Answer

customer analysis

Question 14

Personal interview survey involving a researcher asking questions of people who are together

Accepted Answer

focus group

Question 15

A survey method that involved gathering information from one indvidual either F2F or on phone.

Accepted Answer

personnel interview

Question 16

A brief description of a new business venture including features and benefits it will offer.

Accepted Answer

business concept statement

Question 17

Firms that must be profiled & analyzed when new to market products or services are developed.

Accepted Answer

indirect competitor

Question 18

Group of customers for which a firm's products, pricing, distribution and promotion are designd

Accepted Answer

Target market

Question 19

Things that are desired by potential customers that may lead to a purchase.

Accepted Answer

needs

Question 20

People who manage the day-to-day activities of a business, including computer information sys.

Accepted Answer

Operations personnel

Questions 20