Scenario - Holly and Trent

question 39

Multiple Choice

Scenario - Holly and Trent
While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being self-employed required long hours and hard work, but with the help of her husband, Trent, Holly was positive that the hours and the work would be rewarded. First, she and Trent developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Holly and Trent obtained a patent on their invention, and began production and marketing.
-After fully developing their new business idea, Holly and Trent recognize the need to develop a business plan. Typical business plans will include all of the following, EXCEPT

• A) mission or vision of the company.
• B) information about the suppliers.
• C) policy for extending credit to customers.
• D) analysis of critical risks that threaten success.
• E) all of these should be included.

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Definitions:

Personal Relevance

The extent to which information or situations are perceived as directly impacting an individual's life, thereby influencing their attitudes and behavior.

Transformational Advertising

Transformational advertising aims to create a connection between the consumer's emotions and the product or brand, elevating the perceived value and experience beyond its functional attributes.

Experiential Advertising

A marketing strategy that focuses on helping consumers experience a brand or product through immersive and interactive activities or events.

Elaboration Likelihood Model

A theory in social psychology that describes the process by which attitudes are formed and changed through different routes of information processing, based on the individual's motivation and ability to elaborate on a persuasive message.