ENTREP MID 2

Question 1

One of the most difficult parts of the business plan​

Answer 1

FINANCIAL PLAN

Question 2

It speaks of the product or service performance.

Answer 2

FINANCIAL PLAN

Question 3

money that will be allocated by the entrepreneur to establish a business.​

Answer 3

CAPITAL

Question 4

high value asset that is submitted by the business to the bank when applying for a loan and will be subject for repossession if the business defaults.​

Answer 4

COLLATERAL

Question 5

a chart that details the relevant data of both direct and indirect competitors and how these factors affect profitability.​

Answer 5

PROFILE MATRIX

Question 6

Selling same product in same way. Offers better value to gain customers.​

Answer 6

DIRECT COMPETITOR

Question 7

Selling different product but compete with the same customer. Release offers and promotions to attract customers.​

Answer 7

INDIRECT COMPETITOR

Question 8

based on internal and external scan and from your competitor’s profile matrix.​

Answer 8

MARKETING STRATEGIES

Question 9

It is an advance information that could help us prepare and ready for any incoming event.

Answer 9

FORECAST

Question 10

Tool that is used planning that aims to support management or a business owner in its desire to adjust and cope up with uncertainties of the future.​

Answer 10

FORECASTING

Question 11

PAR

Answer 11

PROJECTED ANNUAL REVENUE

Question 12

the one needs to be market

Answer 12

PRODUCT

Question 13

no need marketing as brand already known

Answer 13

FRANCHISING

Question 14

strong marketing is needed

Answer 14

NEW PRODUCT

Question 15

only worth what cuStomers ready to pay for it

Answer 15

PRICE

Question 16

product must be available in the right place right time and right quality

Answer 16

PLACE

Question 17

way a company communicates what it does and what it can offer

Answer 17

PROMOTION

Question 18

everyone who comes into contact with your customers

Answer 18

PEOPLE

Question 19

one must be able to narrate all the process done and how the product have been made

Answer 19

PROCESS

Question 20

choosing an unfamiliar product or service is risky for customer because they dont know how good it willl be until after purchase

Answer 20

PHYSICAL EVIDENCE

Question 21

Place: Which of the following is less focused when determining the place in the marketing mix?

Answer 21

CONVENIENCE OF CUSTOMER

Question 22

People: in the context of 7ps, what does the people element emphasize most strongly?

Answer 22

TRAINING EMPLOYEES

Question 23

Place: An e-commerce fashion retail wants to expand into physical store, where should they open their physical location?

Answer 23

SHOPPING MALLS

Question 24

Promotion: A software company is launching a new app, which promotional tactic would be most effective?

Answer 24

SOCIAL MEDIA ADS

Question 25

Product: A coffee shop is introducing a new line of vegan pastries, what should they consider in product development?

Answer 25

VEGAN CHEF

Question 26

Promotion: how does influencer marketing fit into the promotion element? What is the most risk that can be involved?

Answer 26

MISSALIGNED INFLUENCER

Question 27

How does a fast food chain integrate the 7ps differently from a luxury brand?

Answer 27

PLACE AND PRICE

Question 28

Physical Evidence: A boutique hotel is looking to create a welcoming atmosphere, what physical evidence should they focus on-

Answer 28

PERSONALIZED ROOM DECOR

Question 29

Process: A bank wants to enhance customer experience during loan application, what process improvement should they implement?

Answer 29

STREAMLINING ONLINE APPLICATION

Question 30

Place: A new organic grocery store wants to increase foot traffic, which location would be kost strategic?

Answer 30

BUSY URBAN DISTRICT