Business Plan Semester Exam – 30 Questions

What is the purpose of a business plan?

• To create social media ads

• To guide a business and attract support

• To set your personal goals

• To design a logo

Which section of a business plan describes what you sell?

• Executive Summary

• Customer Profile

• Products/Services

• Team Roles

What does a mission statement explain?

• Long-term future

• Current purpose

• Financial goal

• Marketing slogan

What is a vision statement focused on?

• Your past jobs

• Your photography gear

• The future of your business

• Daily tasks

What does UVP stand for?

• Unique Value Proposition

• Universal Vision Plan

• Unlimited Vendor Package

A Unique Value Proposition explains:

• Your logo color

• What makes your business stand out

• Where you will advertise

• Your business partners

What is a target market?

• Everyone online

• Your friends only

• The specific group most likely to buy from you

• Any customer with money

A customer profile includes:

• Brand logo

• Income, interests, and habits

• Your monthly budget

• Your personal goals

What is a marketing plan?

• A sales receipt

• A list of products

• A strategy to attract and keep customers

• A name generator

Which of these is a marketing channel?