The Competitive Test That a Business Plan Must Pass to Attract

question 40

Multiple Choice

The competitive test that a business plan must pass to attract financing from lenders and investors involves proving ________.

• A)that the company can gain a competitive advantage over its key competitors
• B)that the business venture will provide lenders and investors a high probability of repayment or an attractive rate of return
• C)that a market for the company's product or service actually does exist and that the company can actually build it for the cost estimates included in the plan
• D)that the industry in which the business will compete is growing faster than the overall economy and has room for more competitors

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Definitions:

Stadium Experience

The stadium experience encompasses all aspects of attending a live sporting event or concert at a stadium, from seating and views to amenities and crowd interaction.

Focus Group

A research method involving a group of people who are asked about their perceptions, opinions, beliefs, and attitudes towards a product, service, concept, advertisement, idea, or packaging.

Marketing Research

The systematic gathering, recording, and analysis of data about issues relating to marketing products and services.

Prospective Customers

People or organizations that might buy a product or service but haven't purchased anything so far.