22) A key element in a marketing plan is A) emphasizing the negative aspects of the competition. B) establishing the correct marketing mix. C) reflecting what the entrepreneur feels is right. D) using the entrepreneur's personal strengths. 23) For a lender or investor, it is helpful to divide required funding into two categories: A) capital costs and start-up costs. B) personal funds and investor funds. C) start-up costs and ongoing operating requirements. D) debt funding and equity funding 24) A company's mission A) explains what profit levels the owner hopes to accomplish. B) describes the nature of the business. C) reflects what customers want. D) outlines its position in society. A common financial problem in a small business is A) lack of knowledge of financing sources B) taxation of profits! C) punitive conditions in government grants D) an excess of personal funds. 25) 26) 27) Small businesses need financing A) in order to support price competition. B) to fund a start-up and as capital for ongoing operations. C) to reduce the risk of losing their personal funds. D) to keep their administrative offices modem-looking. A business plan should include A) social media contact information for management. B) industry and market forecasts. C) product failure statistics. D) location impact on industry history. Capital requirements Start-up costs plus Operating requirements minus A) owner's focus on competing businesses. B) owner's knowledge, skills, and abilities. C) owner's aggets available for investment. D) owner's character, credit, and credentials 28) 29) A marketing plan is not A) a generalized document, B) a guide for implementing marketing decision making. C) an annually prepared document. D) based on a collection of marketing details for future planning. 30) Which is not a way to divide the market into smaller groups based on the characteristics of the customer and buying situation, as indicated in the textbook? A) Physiographic B}_Price sensitivity C) Geographic D Demographic