Use the Following to Answer Questions

question 32

Multiple Choice

Use the following to answer questions:
Scenario 4-1. Jean is contemplating opening her new small business called Jean's Gems. She realizes that the first step in beginning her new business is writing a business plan. Since she has never started her own business before, she has many questions. She has attempted to follow an outline she found in an old newspaper article. Her first rough draft contained over 75 pages and now she is discouraged with the process. In fact, she is not even sure if she needs to continue. As in the case of many small business entrepreneurs, funds are limited. If you were Jean, what would you do?
-In Scenario 4-1 above, the optimum length for Jean's business plan would be how many pages?

• A) 10 pages
• B) 25 pages
• C) 40 pages
• D) 100 pages

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Definitions:

Warby Parker

An American online retailer of prescription glasses and sunglasses, known for its home try-on program.

Premarket Testing

The process of evaluating the market potential of a new product or service before its full-scale launch, often involving selected consumers or client feedback.

Concept Testing

The process in which a concept statement that describes a product or a service is presented to potential buyers or users to obtain their reactions.

Late Majority

A category of consumers in the diffusion of innovation model who adopt a new product or technology after the average member of a society.