ESB V2 Certification Questions With
Correct Answers.
Quality - answer✔✔_______ is measured by how well the product or service successfully serves
its users' purpose.
E-commerce sales and door-to-door sales - answer✔✔What are two examples of direct
distribution channels?
Middlemen - answer✔✔Indirect distribution channels use _______ to sell their products to the
end customers.
Idea - answer✔✔The first stage of the product/market fit is the ________ stage.
prototype - answer✔✔The second stage of the product/market fit is the ________ stage.
launch - answer✔✔The third stage of the product/market fit is the ________ stage.
traction - answer✔✔The fourth stage of the product/market fit is the ________ stage.
monetization - answer✔✔The fifth stage of the product/market fit is the ________ stage.
growth - answer✔✔The sixth and final stage of the product/market fit is the ________ stage.
Set quality standards - answer✔✔The first step of creating a quality control process is to
_____________.
Establish the method of testing product quality - answer✔✔The second step of creating a quality
control process is to _____________.
Review the internal quality testing results - answer✔✔The third step of creating a quality control
process is to _____________.
Refine and improve quality methods and measures as needed. - answer✔✔The fourth step of
creating a quality control process is to _____________.
Employee - answer✔✔Sarah is a(n) ________ because she performs tasks while abiding by
company policies and receives a wage for her work.
Success - answer✔✔Sharon is in the ________ stage because she is earning more money, and
the company's finances are doing well. Because she is not yet preparing to finance future growth,
she is not yet in the take-off stage.
, Trade secret - answer✔✔Knowing a process has been tested and works well is valuable to
companies as they can assume it would work just as successfully for their company. As a result,
companies may want to use __________ materials.
Business plan - answer✔✔A written document that details how a business will be structured,
managed, run, and grown.
Pitch deck - answer✔✔A brief overview of a business plan, the products and services that will
be provided, the funding needed, and financial projections.
Lean canvas - answer✔✔Covers problems and solutions, value propositions, marketing
channels, key metrics, costs, and revenue without all of the business plan details.
Critical thinking - answer✔✔___________ involves solving problems in the best way by
considering various potential solutions to the problem.
Creativity and innovation - answer✔✔_________________ bring new and unconventional ideas
to the table and finding creative and new solutions to the way things are done.
Collaboration - answer✔✔______________ is working with others toward a common goal.
Problem solving - answer✔✔______________ is coming up with solutions to solve a problem.
Personal agency - answer✔✔_____________ is working towards achieving a goal without
someone directing and ensuring it is being done.
Ethical practices - answer✔✔______________ involve decision-making based on morals and
doing the right thing.
Social responsibilities - answer✔✔_____________ involve preventing and removing any
corruption and unethical behavior that could harm a business, the community, or the
environment.
They must obtain ownership of the patent - answer✔✔What must happen before one can use
someone else's patent?
Newspaper marketing - answer✔✔With ________, it is easy to target a specific geographic
location.
(cost * desired profit margin) + cost - answer✔✔What is the formula for selling price?
(Marketing expenses + Sales expenses)/ number of new customers in the period -
answer✔✔What is the formula for calculating Customer Acquisition Cost (CAC)?
[(Ending number of customers in a period - new customers gained in a period)/Starting number
of customers in a period] * 100 - answer✔✔What is the formula for calculating Customer
Retention Rate (CRR)?
Correct Answers.
Quality - answer✔✔_______ is measured by how well the product or service successfully serves
its users' purpose.
E-commerce sales and door-to-door sales - answer✔✔What are two examples of direct
distribution channels?
Middlemen - answer✔✔Indirect distribution channels use _______ to sell their products to the
end customers.
Idea - answer✔✔The first stage of the product/market fit is the ________ stage.
prototype - answer✔✔The second stage of the product/market fit is the ________ stage.
launch - answer✔✔The third stage of the product/market fit is the ________ stage.
traction - answer✔✔The fourth stage of the product/market fit is the ________ stage.
monetization - answer✔✔The fifth stage of the product/market fit is the ________ stage.
growth - answer✔✔The sixth and final stage of the product/market fit is the ________ stage.
Set quality standards - answer✔✔The first step of creating a quality control process is to
_____________.
Establish the method of testing product quality - answer✔✔The second step of creating a quality
control process is to _____________.
Review the internal quality testing results - answer✔✔The third step of creating a quality control
process is to _____________.
Refine and improve quality methods and measures as needed. - answer✔✔The fourth step of
creating a quality control process is to _____________.
Employee - answer✔✔Sarah is a(n) ________ because she performs tasks while abiding by
company policies and receives a wage for her work.
Success - answer✔✔Sharon is in the ________ stage because she is earning more money, and
the company's finances are doing well. Because she is not yet preparing to finance future growth,
she is not yet in the take-off stage.
, Trade secret - answer✔✔Knowing a process has been tested and works well is valuable to
companies as they can assume it would work just as successfully for their company. As a result,
companies may want to use __________ materials.
Business plan - answer✔✔A written document that details how a business will be structured,
managed, run, and grown.
Pitch deck - answer✔✔A brief overview of a business plan, the products and services that will
be provided, the funding needed, and financial projections.
Lean canvas - answer✔✔Covers problems and solutions, value propositions, marketing
channels, key metrics, costs, and revenue without all of the business plan details.
Critical thinking - answer✔✔___________ involves solving problems in the best way by
considering various potential solutions to the problem.
Creativity and innovation - answer✔✔_________________ bring new and unconventional ideas
to the table and finding creative and new solutions to the way things are done.
Collaboration - answer✔✔______________ is working with others toward a common goal.
Problem solving - answer✔✔______________ is coming up with solutions to solve a problem.
Personal agency - answer✔✔_____________ is working towards achieving a goal without
someone directing and ensuring it is being done.
Ethical practices - answer✔✔______________ involve decision-making based on morals and
doing the right thing.
Social responsibilities - answer✔✔_____________ involve preventing and removing any
corruption and unethical behavior that could harm a business, the community, or the
environment.
They must obtain ownership of the patent - answer✔✔What must happen before one can use
someone else's patent?
Newspaper marketing - answer✔✔With ________, it is easy to target a specific geographic
location.
(cost * desired profit margin) + cost - answer✔✔What is the formula for selling price?
(Marketing expenses + Sales expenses)/ number of new customers in the period -
answer✔✔What is the formula for calculating Customer Acquisition Cost (CAC)?
[(Ending number of customers in a period - new customers gained in a period)/Starting number
of customers in a period] * 100 - answer✔✔What is the formula for calculating Customer
Retention Rate (CRR)?
