Food Business School Assessment
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Quiz Questions
1.
Do you have a written mission statement?
A.
Yes
B.
Needs revision
C.
No
2.
How well-defined is your target market?
A.
Thoroughly defined
B.
General idea, needs refining
C.
Still unclear
3.
Have you identified the key problem your product solves for customers?
A.
Yes, clear problem-solution fit
B.
Somewhat
C.
No, need help clarifying
4.
How do you envision differentiating your product from competitors?
A.
Clear differentiation strategy
B.
Have some ideas but need guidance
C.
Unsure
5.
What is your long-term business vision (5+ years)?
A.
Fully detailed growth and expansion plan
B.
General idea of scaling, but needs clarity
C.
Still working on long-term strategy
6.
Do you have a recipe that is in 100g formulation?
A.
Yes, my kitchen recipe has been converted to a 100g formulation
B.
Yes, but I’m still tweaking the calculations
C.
I’m not sure what that means
7.
Do you know how to test for quality and consistency?
A.
Yes, with consistent results
B.
Yes, but still tweaking
C.
No, need assistance
8.
Have you conducted ingredient sourcing research (cost, quality, availability)?
A.
Yes, with supplier relationships established
B.
Have researched but no suppliers secured
C.
No, need help with sourcing
9.
Have you explored co-packing or production options?
A.
Yes, with potential partners identified
B.
Research started, no partnerships yet
C.
No, need guidance
10.
What’s your plan for scaling your recipe for commercial production?
A.
Scaling strategy ready
B.
Some understanding, but need help
C.
No scaling plan in place
11.
Have you completed prototype development for testing and feedback?
A.
Yes, tested with sample group
B.
Prototypes developed, but no feedback
C.
No prototypes developed yet
12.
Do you have the necessary certifications or are you aware of certifications needed (organic, gluten-free, etc.)?
A.
Fully certified or in progress
B.
Identified certifications, but not yet initiated
C.
Unclear on certification requirements
13.
Do you know what RACC, TiHi, and FSMA stand for, and why they are important for food labeling and logistics?
A.
Yes, I understand their meanings and importance.
B.
I’m familiar with one or two, but not all.
C.
No, I’m unclear on these terms.
14.
Can you explain the difference between a "Sell-By Date" and a "Best-By Date"?
A.
Yes, I know the difference.
B.
I’m somewhat familiar but need clarification.
C.
No, I don’t know the difference.
15.
Do you understand the roles of Primary and Secondary Packaging in the CPG industry?
A.
Yes, I fully understand.
B.
I’ve heard of them but need more information.
C.
No, I’m unsure of the difference.
16.
Are you familiar with the specific food regulations your product must comply with (FDA, USDA, FSMA)?
A.
Yes, fully knowledgeable
B.
Somewhat familiar, need clarity on certain aspects
C.
No, need full guidance
17.
Have you prepared for food safety practices (e.g., HACCP)?
A.
Yes, safety protocols in place
B.
Have started planning but incomplete
C.
No, need assistance
18.
Do you know the nutritional labeling requirements for your product?
A.
Yes, fully prepared
B.
Some understanding, need assistance
C.
No, unsure of requirements
19.
Are you aware of packaging and labeling regulations, such as allergen warnings?
A.
Yes, packaging meets all regulations
B.
Working on it, but not fully compliant yet
C.
No, need assistance
20.
How developed is your brand identity (logo, color palette, brand messaging)?
A.
Fully developed and aligned with market
B.
Work in progress, needs refinement
C.
No branding created yet
21.
Have you researched customer preferences and market trends for your product category?
A.
Yes, in-depth research completed
B.
General idea, but not validated
C.
No market research done yet
22.
What’s your digital marketing strategy for reaching customers?
A.
Clear strategy including website, social media, and ads
B.
Basic understanding, but need help executing
C.
No strategy yet
23.
Have you tested your product with potential customers (e.g., taste testing, surveys)?
A.
Yes, and have collected feedback
B.
Have some feedback, but need more
C.
No, no product testing conducted
24.
Have you developed a sales strategy (e.g., direct-to-consumer, retail, e-commerce)?
A.
Yes, clear sales channels and plan
B.
General idea, but needs refining
C.
No sales strategy yet
25.
Do you have a detailed financial model, including production costs, profit margins, and sales forecasts?
A.
Yes, fully detailed and ready
B.
Have a basic model, needs refinement
C.
No financial model in place
26.
How well do you understand the costs involved in scaling your product?
A.
Fully understand and accounted for
B.
Somewhat aware, need further breakdown
C.
No clear understanding of scaling costs
27.
Do you have access to the necessary funding or have plans to secure funding?
A.
Yes, funding secured or in progress
B.
Have leads, but no funding yet
C.
No funding options explored
28.
What’s your plan for managing logistics, warehousing, and distribution?
A.
Full logistics and distribution plan ready
B.
Have general idea, but need help
C.
No logistics strategy in place
29.
Have you identified key team members or external partners needed to grow your business (e.g., legal, finance, marketing)?
A.
Yes, team or partners in place
B.
Some partnerships identified, but not formalized
C.
No team or partners secured yet
Quiz Outcomes
1.
Result 1
2.
Result 2
3.
Result 3
4.
Result 4
