Questions:
• Explain why positioning your product or service is important. What is the goal of positioning your product? If you could change the product position of your automobile, what changes would you make?
• Explain how the 4Ps affect each other. Indicate reasons that entrepreneurs should not sell their products at the lowest price possible.
• What type of monitoring system do you plan on implementing to manage cash/cash flow? How might we best compensated for cash flow shortages?
• What does a brand tell a customer?. Why is it necessary to provide a positive image in the business? Is it important for a small business to become actively involved within the community?
• What are the key components of a business plan? Why?