Module 1 Quiz: Foundation Reset & Market Positioning

1.What are the five dimensions of the catering business audit? **Options**: A. Revenue, Marketing, Staff, Food, Clients B. Sales, Costs, Marketing, Operations, Growth C. Revenue Clarity, Cost Control, Client Quality, Operational Systems, Market Position D. Budget, Menu, Staff, Venues, Marketing

2.What percentage of food cost is the target for profitable catering operations? **Options**: A. 15-20% B. 25-30% C. 35-40% D. 45-50%

3.Which behavioral economics principle describes ignoring negative information? **Options**: A. Loss Aversion B. The Ostrich Effect C. Confirmation Bias D. Anchoring

4.What is the ideal number of client avatars to create? **Options**: A. 1 avatar B. 3 distinct avatars C. 5 avatars D. 10 avatars

5.What is the primary purpose of competitive intelligence? **Options**: A. Copy competitors B. Price match C. Understand positioning and identify gaps D. Find weaknesses to exploit

6.Which tool is recommended for CRM? **Options**: A. Excel B. HoneyBook C. Photoshop D. QuickBooks

7.What is the target gross margin for catering operations? **Options**: A. 45-55% B. 55-60% C. 65-72% D. 75-85%

8.What does the 'Blue Ocean Strategy' refer to? **Options**: A. Competing on price B. Finding uncontested market space C. Ocean-themed events D. Sustainable seafood

9.What percentage of a catering company's revenue typically comes from the top 20% of events? **Options**: A. 50% B. 60% C. 70% D. 80% (Pareto Principle)

10.What is the primary revenue model for catering companies? **Options**: A. Flat fee per event B. Hourly service charges C. Per-head event contracts D. Commission-based