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ESB Exam (2023/ 2024) Questions and Answers| Rated A| Verified Answers

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ESB Exam (2023/ 2024) Questions and Answers| Rated A| Verified Answers 1. T/F Patent licensing is used for a new product or invention ~ Answer: True 2. Which two criteria are required for obtaining venture capital funding ~ Answer: ~ A scalable business model ~ A profitable exit strategy 3. For which two reasons should a meal delivery company use direct distribution channels over indirect distribution channels ~ Answer: ~ To lower shipping cost ~ To quickly get product to customers before they spoil 4. What are two advantages to using Lean Canvas business plan instead of the traditional business plan model ~ Answer: ~ A lean canvas is quick, concise tool to document or update a business plan ~ A lean canvas focuses on the problem, solutions, key metrics and unique value proposition 5. Which two action helps start- up companies achieve product/market fit ~ Answer: ~ Identifying underserved customers needs ~ Testing the minimum viable product (MVP) 6. For third party sellers, what are two marketing benefits of selling products on a marketplace ~ Answer: ~ Access to marketplaces market knowledge ~ Access to the marketplace customer base 7. Which item is a start up cost or operating cost Gas Cooking Utensils Business license Truck lease payments ~ Answer: ~ Start Up- Cooking utensils, Business license ~ Operating- Gas, Truck lease payments 8. You need to start a customer loyalty program to reward and retain current customers. Which two types of programs should you select?

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ESB Exam (2023/ 2024) Questions and
Answers| Rated A| Verified Answers

1. T/FIPatentIlicensingIisIusedIforIaInewIproductIorIinvention



~ Answer:ITrue




2. WhichItwoIcriteriaIareIrequiredIforIobtainingIventureIcapitalIfunding



~ Answer:I
~ AIscalableIbusinessImodelI
~ AIprofitableIexitIstrategy




3. ForIwhichItwoIreasonsIshouldIaImealIdeliveryIcompanyIuseIdirectIdistributionIchannel
sIoverIindirectIdistributionIchannels



~ Answer:
~ ToIlowerIshippingIcostI
~ ToIquicklyIgetIproductItoIcustomersIbeforeItheyIspoil




4. WhatIareItwoIadvantagesItoIusingILeanICanvasIbusinessIplanIinsteadIofItheItraditionalI
businessIplanImodel



~ Answer:I
~ AIleanIcanvasIisIquick,IconciseItoolItoIdocumentIorIupdateIaIbusinessIplanI
~ AIleanIcanvasIfocusesIonItheIproblem,Isolutions,IkeyImetricsIandIuniqueIvalue
Iproposition

, 5. WhichItwoIactionIhelpsIstart-IupIcompaniesIachieveIproduct/marketIfit



~ Answer:I
~ IdentifyingIunderservedIcustomersIneedsI
~ TestingItheIminimumIviableIproductI(MVP)




6. ForIthirdIpartyIsellers,IwhatIareItwoImarketingIbenefitsIofIsellingIproductsIonIaImarket
place



~ Answer:I
~ AccessItoImarketplacesImarketIknowledgeI
~ AccessItoItheImarketplaceIcustomerIbase




7. WhichIitemIisIaIstartIupIcostIorIoperatingIcostI
Gas
CookingIUtensils
BusinessIlicense
TruckIleaseIpayments



~ Answer:I
~ StartIUp-ICookingIutensils,IBusinessIlicenseI
~ Operating-IGas,ITruckIleaseIpayments




8. YouIneedItoIstartIaIcustomerIloyaltyIprogramItoIrewardIandIretainIcurrentIcustomers.I
WhichItwoItypesIofIprogramsIshouldIyouIselect?
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