Marketing Essentials

Chapter 35: Developing a Business Plan

Self-Checks

1
What is a business plan?
A)The same thing as a marketing plan
B)A self-analysis
C)A description of a business’s philosophy and mission
D)A proposal that outlines how a business will be created or will expand
2
What is the role of a business philosophy?
A)It guides how a business should be run
B)It reveals a business owner’s attitude toward the marketplace
C)It helps attract and retain customers
D)All of the above
3
What is buying behavior?
A)The process people use to decide what they will buy
B)The process people use to decide where they will buy a product
C)The process people use to decide from whom they will buy a product
D)All of the above
4
What is equity capital?
A)The same thing as debt capital
B)Capital that comes from things or company interests your already own
C)A collateral
D)Capital that comes from a loan
5
A collateral is important because
A)It helps a bank review a business owner’s credit worthiness
B)It indicates how much debt capital a business owner has
C)It indicates how much insurance coverage a business owner carries
D)All of the above
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