Ent - Unit 3 Review

Front

Businesses in your market that sell a similar product or service to what your business provides

Back

Direct competitor

Front

An indirect competitor of Bluebell Ice cream is

Back

A frosty at Wendy's

Front

The percentage of a target market population that is buying a particular product or service from your business

Back

Market share

Front

True or False: Only companies that sell the same products as yours are your competitors

Back

False

Front

True or False: A pizza place and a sandwich shop that can also make pizzas would be a direct competitor

Back

False

Front

True or False: You will probably have more indirect competitors than direct competitors

Back

True

Front

True or False: Figuring out what percentage of your market would shop at your store versus your competitors will have you analyze your business opportunity

Back

True

Front

Incentive that encourages entrepreneurs to take business risks in the hope of making a profit business

Back

Profit motive

Front

Money coming in from sales is larger than the business's expenses

Back

Profit

Front

A pricing method that focuses on what the competition charges

Back

Competition based pricing