Question

Laci was excited to open her gourmet cookies shop. As a small business owner, she had to carefully determine what products she would sell, the price of those products, the place or location of her physical store, and how she would promote her business. Laci is creating her:

a. Inventory Plan
b. Business Model
c. Marketing Plan
d. Delivery Route

Answer 1

Laci, in establishing her gourmet cookies shop, engages in crucial decision-making involving product selection, pricing strategies, physical store location, and promotional tactics. (b. Business Model)

Step-by-step explanation:

Laci's endeavor involves several key aspects of establishing and operating a business, not solely focused on inventory or marketing. Her considerations encompass product selection, pricing strategy, physical store location, and promotional tactics. A business model encompasses the holistic approach to how a company operates, generates revenue, and sustains itself. It involves determining what products or services to offer, how to deliver value to customers, the revenue generation mechanisms, and the overall strategy for long-term success.

Laci's decisions about product offerings and pricing, selecting a physical store location, and devising promotional strategies all contribute to defining her business model. This comprehensive plan forms the foundation upon which her cookie shop will operate and grow. It's not solely about the inventory or marketing plans but encompasses the entire framework of her business operations.