IDENTIFICATION C. esire egular 0-hour ork weeks.• StnmoD. have an adventurous spirit.21. What is one reason that it is easier than ever for small businesses to engage in international trade?Decreasing internation middle classB. Technological advancesD. Increased regulationC. Language barriersD 22. Which of the following is a global trend that might encourage an entrepreneur to consider international businessopportunities:A. Higher allowancesC. Enforceable trade agreementsB. Lower tariffsD. Flexible currency rates23. Mara is facilitating a group brainstorming session to generate new product ideas for the company. Which of thefollowing is important for Mara to demonstrate?B. NeutralA. Judgmental24. Landon wants to start a home-based T-shirt printing business. Which of the following are the most critical equipmentand supplies that Landon will need to get his business up and running?C. PassiveD. AuthoritarianA. T-shirts, thread, and display casesB. Printing machine, display cases, and T-shirtsC. Artwork, T-shirts, and thread25. A small-business owner might register for trademark protection for the company'sB. invention.D. T-shirts, printing machine, and artworkA. computer software.C. trade secret.D. logo.26. Evan does not want the legal obligation of repaying a loan and is willing to share profits with others. Which of thefollowing options is Evan most likely to select to fund a new venture:B. Collateral savingsC. Trade creditD. Community bankA. Private equity27. What is a primary factor that small-business owners should consider when deciding to hire additional staff members?C. Training methodsD. Product standardsA. Interview techniquesB. Payroll expenses28. Al is thinking about moving his company's headquarters to another city, which would be expensive but closer to the rawmaterials needed for manufacturing. The benefit in moving isA. demand.B. proximity.C. feasibility.D. independence.29. All of a firm's activities and how they function in relation to one another are known asA. business operations30. Because the MBC Company has one location that services the eastern part of the country and another location thatservices the western part of the country, the company's work flow is organized byB. efficiency standards C. communication goals D. desired outputs.A. relationshipB. work teamsC. authorityD. territoryTest-I-IdentificationDirections: Inside the box are the answer of the following statements below the box. Pick it out and write it on the spaceprovided before each item.PromotionFinancialViabilityExecutive SummaryMarketing StrategyMarketPricesCompetitionPackagingProfitabilityDistributionProductMarket OpportunitySatisfiersTarget Audience1. How and what will we communicate with buyers or customers? Do we have a marketing strategywith appropriate promotional, advertising, and branding strategies in place?2. What product will be offered and how is it unique?3. How and when will we move our product to market? What market channel will we use?4. Who are our competitors and how will we position ourselves to compete? Are there threats fromnew entrants?5. Who are the target customers and what do they value?6. How will we present the product to the customer?7. How will we price our product? What is the perceived value of our product to the consumer? Isour price in line with the market's perceived value?EXECUTIVE SV MMARY 8. It is arguably the most important section in the entire business plan. Essentially, it's the overviewor introduction, written in a way to grab readers' attention and guide them through the rest of the business plan (which may bedozens or hundreds of pages long).9. This section is particularly informative for investors and leadership teams to determine fundingstrategies, investment opportunities, etc.MARKET OPPORTUNITY 10. This is where you'll detail the opportunity in the market.TARGET AUDIENCE 11. This section will describe who your customer segments are in detail. What is the demographicand psychographic information of your audience?12. The brand positioning vision and how you'll cultivate it.13. The product has a good performance and can be recommended to others to be purchased.14. It is the expression of the market desire explicitly.15. It is conducting a product profitability analysis forecast the profitability of the new product thatis planning to market.II.Short Response TestDirections: Read and analyse the given questions below. Write your answers on the space provided for.1.If you were thinking about starting a clothing store for teens and young women in your hometown, what censusinformation do you think would be useful to you?2. Is now a good time to start a business? Why or why not?

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