Everfi - Venture Lesson #4 Quiz

What is the main purpose of developing a business pitch?

To briefly share the most important information about your business to people in an engaging way.

Why is it important to conduct market research on your target audience before building your marketing plan?

You need to consider who your potential customers are before deciding on marketing strategies.

What should your business pitch include?

1) Description of your product or service. Make sure to include your company's name. 2) Explanation of the problems your product or service solves or the demands it meets. 3) Explanation of how your product or service is different. 4) Clear reasons why your potential investors and customers should care about your business.

Why is it important for business owners to get to the point when pitching their company?

1) To prevent potential customers from becoming bored 2) To prevent potential customers from becoming annoyed 3) To prevent potential customers from losing interest

Your friend is developing a marketing plan for her new business. What should she put in this plan?

1) Where she wants to sell her product 2) The price of her product 3) A description of the people in her target market

A business pitch should be roughly...?

30 seconds or LESS

A business pitch is sometimes called?

An Elevator Pitch

Which statement is the best description of a Value Proposition?

The features and benefits that make the product or business unique.