26. A firm's ________ market is a place within a larger market segment that represents a narrower group of customers with similar interests. * A) aspirational B) ambitious C) constrained D) target E) objective 27. Rhoda Adu-Boahene is opening up a women's fashion boutique that will focus on professional women that are 18-30 years old. The age range of women that Rhoda's plans to focus on is referred to as her ________ market. * A) controlled B) ambitious C) identifiable D) target E) aspirational 28.Abdul Karim recently started a new firm in the financial services industry. Prior to starting his firm, he spent considerable time doing research on the potential of the industry. The research that Abdul was doing is called ________ analysis. * A) industry B) sector C) commercial D) business E) target market 29. Once a firm decides to enter an industry and chooses a market in which to compete, it must gain an understanding of its competitive environment. This challenge can be undertaken by completing a(n) ________ analysis. * A) business B) industry C) competitor D) strategic E) market 30. Which of the following is the main purpose for writing a business plan? * A) The plan helps the company develop a "road map" to follow. B) The plan introduces potential investors and other stakeholders to the business opportunity. C) Both A and B are equally important. D) Neither A nor B captures the true purpose of a business plan. E) Reason A is the most important for experienced entrepreneurs and reason B is the most important for inexperienced entrepreneurs.