For the question(s) below, consider the following competitive profile matrix: Competitive Profile Matrix Key Success Factors Your Business Weighted Competitor 1 Weighted Competitor 2 Weighted Weight Rating Score Rating Score Rating Score Quality .35 4 1.40 2 .70 1 .35 Service .20 4 .80 2 .40 2 .40 Convenience .15 2 .30 4 .60 1 .45 On-Time Delivery .20 2 .40 4 .80 3 .60 Location .10 3 .30 1 .10 2 .20 Total 1.00 3.20 2.60 1.70 In terms of quality, which company has the weakest competitive position?

Trade dress is the unique combination of elements that a company uses to create a product’s image and to promote it.

For the question(s) below, consider the following competitive profile matrix: Competitive Profile Matrix Key Success Factors Your Business Weighted Competitor 1 Weighted Competitor 2 Weighted Weight Rating Score Rating Score Rating Score Quality .35 4 1.40 2 .70 1 .35 Service .20 4 .80 2 .40 2 .40 Convenience .15 2 .30 4 .60 1 .45 On-Time Delivery .20 2 .40 4 .80 3 .60 Location .10 3 .30 1 .10 2 .20 Total 1.00 3.20 2.60 1.70 Which key success factor does the entrepreneur who built this table believe is most important?

Most entrepreneurs have invested the time to develop a sound business plan.

Asking the question, “Is this idea right for me?” is part of the process of assessing ________ feasibility.

To be effective, the small business owner should limit strategic analysis to only the two or three most significant opportunities facing the firm.

The ideal strategic planning procedure for a small company should be formal and highly structured.

One of the rights given to consumers by the Consumer Bill of Rights is the right to safety.

Time out of cash is one of the four major elements included in a financial feasibility analysis.

Financing the purchase of an existing business usually is easier than financing the startup of a new one.