Scenario C

question 45

Multiple Choice

Scenario C. Four entrepreneurs are discussing the potential for success or failure of their ventures. A few of them realize that they did not understand the risk involved in their undertaking. They describe their start-ups in the following manner:
1. Raymond: "I had very little money invested but I was the first on the market with my product."
2. Lotina: "My firm had a very substantial amount of money invested in my venture because I had a completely new and unique product that was expensive to create."
3. Sharida: "I had almost nothing invested in my business which produced a product with many similar competitors already on the market."
4. Kevin: "I have spent an incredible amount of money getting my business going in an industry with many well-established competitors."

-According to the Entrepreneurial Strategy Matrix,Raymond's scenario can be described as

• A)low innovation/high risk.
• B)low innovation/low risk.
• C)high innovation/low risk.
• D)high innovation/high risk.
• E)there was no risk in this scenario.

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Definitions:

Full-Service Advertising Agency

An agency that offers a complete range of advertising-related services across different media and platforms, from planning and strategy to creation and execution.

Media Selection

Media selection entails choosing the most effective communication channels or platforms to advertise or convey a particular message to a target audience.

Copy Development

involves creating and refining written content for advertising or marketing materials to engage and persuade the target audience.

Artwork

Visual material prepared for inclusion in printed materials, including drawings, photographs, or other forms of creative graphic design.