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Entre Unit 1 Assignment - Critical Thinking Questions

Yusef has a business targeting people over 65 to help them exercise daily. If it only offered products, it could sell meal plans. If only services, it could offer health coaching. Services may be easier for the target market to understand and use. A business plan is important to determine specific products and services and their fit with the target market and marketing approach. The executive summary highlights the main points of the plan to capture the reader's interest quickly. As a business grows, its plan can serve to find startup funding and guide future changes. Emily should actively listen to investor feedback to improve her business based on market insights.

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689 views2 pages

Entre Unit 1 Assignment - Critical Thinking Questions

Yusef has a business targeting people over 65 to help them exercise daily. If it only offered products, it could sell meal plans. If only services, it could offer health coaching. Services may be easier for the target market to understand and use. A business plan is important to determine specific products and services and their fit with the target market and marketing approach. The executive summary highlights the main points of the plan to capture the reader's interest quickly. As a business grows, its plan can serve to find startup funding and guide future changes. Emily should actively listen to investor feedback to improve her business based on market insights.

Uploaded by

TinaN.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Critical Thinking Questions

1. Yusef has a business that will empower people over 65 to get exercise every day. How
might his business look if it only delivered products and not services? How would it look
if it only delivered services? Which characteristics of his target market are reflected in
your answers?

It depends on whether Yusef’s business is a service or a product. A service would be a


caretaker or coach that gives the elders healthcare advice. A product would be a meal
plan for example. For his target market, a service might be easier for them to
understand and use.

2. Discuss the importance of creating a business plan to determine the specific products
and services for a new business. Proan example of a product offering to illustrate the
relationship between the product offering, the target market, and the marketing
approach.

Business plans typically include detailed information that can help improve the
business’s chances of success, like a market analysis, competitive analysis, customer
segmentation, marketing, logistics and operations plans, cash flow projection and an
overall path to long-term growth.

3. José is a young entrepreneur working on his first business plan. José’s business mentor
is clarifying the parts of a business plan. How could his mentor explain the purpose of
the Executive Summary and its relationship to the other sections of the business plan?

The executive summary is a preview and overview of the business plan. Since it’s seen
first, it must capture the reader’s attention—and fast! As a summary, it highlights the
main points of the plan and tries to get the reader energized about the business.

4. After developing a business why should an entrepreneur write a business plan? How
might the plan be used and how might that change over time?

When you’re first creating your business venture, a business plan comes in handy to
focus your efforts on finding the money you’ll need in order to launch your business
opportunity. As your business grows and changes, your business plan can serve other
purposes too.
5. Emily’s business plan is complete and she’s all set to present her deck to a group of
interested investors next week. As she thinks about delivering her presentation, what
kind of active listening strategies will be useful for her performance, and why?

She may incorporate active listening skills to gain feedback from the listeners, so that
her business will be better and more suitable for the market.

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