The Text Lists Several Questions That the Business Plan Should

question 113

Multiple Choice

The text lists several questions that the business plan should answer for the entrepreneur who is planning to open a business.Which of the following is one of the questions?

• A) What does she or he want to accomplish?
• B) What financing is available?
• C) What is the demand for the product/service?
• D) What is the most effective production strategy?
• E) What does the competitive situation look like?

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Definitions:

Pricing

The process of determining the value that will be charged for goods or services offered by a business.

Promoting

The act of advertising or pushing forward an idea, product, or service to increase awareness and generate interest among potential customers.

Positioning Stage

The phase in marketing where a brand defines and communicates its unique value proposition and how it differs from competitors to target consumers.

Commoditization

The process where products become indistinguishable from each other in the eyes of the consumer, leading to competition primarily on price.