Which of the 11 business types did you choose from the list above? Who are the owners/founders besides yourself, if any? Who are your potential customers?

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Choose which business form — sole proprietorship, "S" Corporation, "C" Corporation, LLC, 501(c)(3) — you would use for one of the following businesses that you would like to own if you could:

  1. An online shoe store with best friend
  2. A community fresh produce market
  3. Paralegal consulting services
  4. Catering business — three acquaintances who met on a food website
  5. Technology consulting services
  6. 3 Guys and a Girl Car Repair
  7. Bookkeeping business — five accounting graduates' startup
  8. Interactive gaming design with two family members
  9. Secondhand clothing consignment shop with one dressmaker and a seamstress
  10. Home services business — large business with one knowledgeable owner and one banker/investor
  11. Food truck franchise

Respond to the following questions:

Explain:

  • Which of the 11 business types did you choose from the list above?
  • Who are the owners/founders besides yourself, if any?
  • Who are your potential customers?
  • What makes your business unique in the marketplace?
  • What are the strengths? After you choose a business form, explain the following:
    What are the strengths or benefits of this type of business form concerning taxes and liability, based on the type of ownership and customer?
  • What are the weaknesses? Do you need a board of directors? What are the pitfalls of this type of structure and why, based on the type of business being conducted?

 

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