1) W. in S.W.O.T. Stands for: a) Withholding b) Weaknesses c) Weary Entrepreneurs 2) S. in S.W.O.T. Stands for: a) Strides b) Streaming Live c) Strengths 3) O. in S.W.O.T. Stands for: a) Odd b) Opportunities c) Opposite 4) T. in S.W.O.T. Stands for: a) Threats b) Thirsting for Customers c) Thrifty 5) Time restrictions is an example of: a) Strength b) Weakness c) Opportunity d) Threat 6) Large social media following is an example of: (Select all that apply) a) Strength b) Weakness c) Opportunity d) Threat 7) Upcoming craft show is an example of: a) Strength b) Weakness c) Opportunity d) Threat 8) Large social media following is an example of: (Select all that apply) a) Strength b) Weakness c) Opportunity d) Threat 9) Name brand beauty companies are an example of: a) Strength b) Weakness c) Opportunity d) Threat 10) How can I create a competive edge? (Select all that apply) a) Create Custom Orders. b) Add unique ingredients to my lip balm. c) Make basic lip balm with no label. 11) Sharing skincare tips on social media to gain followers is a great marketing strategy that leads to new opportunities. a) True b) False 12) What are "margins"? a) How much it costs to make a product. b) The difference between a products selling price and the cost of production. c) The total cost divided by how many tubes of lip balm created. 13) I am able to turn a weakness into an opportunity. a) True b) False 14) Fundraisers are a great way to sell products while helping a cause. a) True b) False 15) Wholesale means selling your lip balm for the cost it took to make it. a) True b) False 16) By allowing a nice margin / cushion, I am able to offer discounts and still make a profit. a) True b) False

Beauty and Business Week 4

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