Scenario 7-1. Kelli Is Starting Her New Business in the Mall in the Mall

question 19

Multiple Choice

Scenario 7-1.
Kelli is starting her new business in the mall in the coming weeks. She has finished her business plan and is now looking at planning her startup. Her business consists of a clothing store for young women who purchase medium-quality fashionable school and work clothes. She sees customer service as her strong point because she is currently in the same age group and is very clothes conscious herself. Her competitors, also located in the mall, are all older women who cater to older women who purchase fashion-conscious clothes. Kelli has no business experience, yet is willing to invest her entire inheritance in her new business venture. She is single, 21, and has no current debts. She has an opportunity to rent a space in the local mall if she signs the agreement next week. Kelli is excited about being able to pick the clothes on her racks herself and then sell those clothes to young women who would look fashionable in them.
-In Scenario 7-1, one of the overriding questions Kelli still has is exactly who is it that will be buying her clothes and what do these people have in common? Kelli needs to further look at

• A) Her competitive advantage
• B) A market analysis
• C) A marketing plan
• D) Her location

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Definitions:

Media Representatives

Individuals or agencies that act as intermediaries between companies or individuals wishing to advertise and the media outlets.

Social Media Environment

The digital landscape made up of various social media platforms where users interact, share content, and communicate.

Online Conversations

Interactions that occur between individuals or groups over the internet through various platforms such as social media, forums, or chat rooms.

Negative Information

Data or facts that portray an unfavorable or adverse situation, condition, or characteristic.