EEE Final Exam UPDATED Exam
Questions and CORRECT Answers
seven members of a new venture team - CORRECT ANSWER 1. Founder or founders
2.Key Employees
3. Board of Directors
4. Other professionals
5. Lenders and investors
6. Board of advisors
7. Management team
Preferred Attributes of the founders of an entrepreneurial venture - CORRECT ANSWER
Three reasons startups need funding - CORRECT ANSWER 1. cash flow challenges
2. capital investments
3. lengthy product development cycles
Sources of Personal Financing - CORRECT ANSWER 1. Personal Funds
2. Friends and Family
3. Bootstrapping
Three steps to prepare for debt or equity financing - CORRECT ANSWER
sources of equity funding - CORRECT ANSWER - business angels
- venture capital(ists)
- initial public offering
Sources of Debt Financing - CORRECT ANSWER 1. Commercial Banks
,2. SBA Loans
3. Other Sources (Vendor Credit, Factoring, Merchant Cash Advance, and Peer to Peer Lending)
Three ways to segment a market - CORRECT ANSWER -segmentation of the market
-selecting a target market
-crafting a unique positioning strategy
Market Segment - CORRECT ANSWER a group of consumers who respond in a similar
way to a given set of marketing efforts
What is a brand - CORRECT ANSWER A brand is the set of attributes—positive or
negative—that people associate with a company
Marketing 4 P's - CORRECT ANSWER Product, Price, Place, Promotion
Difference between advertising and pr - CORRECT ANSWER -advertising is creating
paid announcements promoting something.
-PR is a strategic communication process that builds mutually beneficial relationships
Steps in putting an ad together - CORRECT ANSWER 1. Identify the purpose of the ad
2. Determine the target audience
3. Select a medium
4. Create the ad
5. Select a place and time for the ad to appear
6. Fulfill expectations
Common mistakes firms make regarding intellectual property - CORRECT ANSWER Not
properly identifying all of their intellectual property
Not fully recognizing the value of their intellectual property
, Not legally protecting the the intellectual property that needs protecting
Not using their intellectual property as part of their overal plan for success
Types of patents and difference between each type - CORRECT ANSWER utility-.New or
useful process, machine,manufacturer, or composition of material or any new and useful
improvement thereof
design-Invention of new, original, and ornamental design for manufactured products
plant-Any new varieties of plants that can be reproduced asexually.
Six-step process for obtaining a patent - CORRECT ANSWER 1. Make sure the invention
is practical
2. Determine the type of application to file
3. Hire a patent attorney
4. Conduct a patent search
5. File a patent application
6. Obtain decision from U.S. Patent and Trademark Office
Four types of trademarks - CORRECT ANSWER trademarks, service marks, collective
marks, and certification marks
Exclusions from trademark protection - CORRECT ANSWER -immoral or scandalous
matter
-deceptive matter
-descriptive marks
-surnames
Trade secret protection methods - CORRECT ANSWER -physical measures
-written agreements
Questions and CORRECT Answers
seven members of a new venture team - CORRECT ANSWER 1. Founder or founders
2.Key Employees
3. Board of Directors
4. Other professionals
5. Lenders and investors
6. Board of advisors
7. Management team
Preferred Attributes of the founders of an entrepreneurial venture - CORRECT ANSWER
Three reasons startups need funding - CORRECT ANSWER 1. cash flow challenges
2. capital investments
3. lengthy product development cycles
Sources of Personal Financing - CORRECT ANSWER 1. Personal Funds
2. Friends and Family
3. Bootstrapping
Three steps to prepare for debt or equity financing - CORRECT ANSWER
sources of equity funding - CORRECT ANSWER - business angels
- venture capital(ists)
- initial public offering
Sources of Debt Financing - CORRECT ANSWER 1. Commercial Banks
,2. SBA Loans
3. Other Sources (Vendor Credit, Factoring, Merchant Cash Advance, and Peer to Peer Lending)
Three ways to segment a market - CORRECT ANSWER -segmentation of the market
-selecting a target market
-crafting a unique positioning strategy
Market Segment - CORRECT ANSWER a group of consumers who respond in a similar
way to a given set of marketing efforts
What is a brand - CORRECT ANSWER A brand is the set of attributes—positive or
negative—that people associate with a company
Marketing 4 P's - CORRECT ANSWER Product, Price, Place, Promotion
Difference between advertising and pr - CORRECT ANSWER -advertising is creating
paid announcements promoting something.
-PR is a strategic communication process that builds mutually beneficial relationships
Steps in putting an ad together - CORRECT ANSWER 1. Identify the purpose of the ad
2. Determine the target audience
3. Select a medium
4. Create the ad
5. Select a place and time for the ad to appear
6. Fulfill expectations
Common mistakes firms make regarding intellectual property - CORRECT ANSWER Not
properly identifying all of their intellectual property
Not fully recognizing the value of their intellectual property
, Not legally protecting the the intellectual property that needs protecting
Not using their intellectual property as part of their overal plan for success
Types of patents and difference between each type - CORRECT ANSWER utility-.New or
useful process, machine,manufacturer, or composition of material or any new and useful
improvement thereof
design-Invention of new, original, and ornamental design for manufactured products
plant-Any new varieties of plants that can be reproduced asexually.
Six-step process for obtaining a patent - CORRECT ANSWER 1. Make sure the invention
is practical
2. Determine the type of application to file
3. Hire a patent attorney
4. Conduct a patent search
5. File a patent application
6. Obtain decision from U.S. Patent and Trademark Office
Four types of trademarks - CORRECT ANSWER trademarks, service marks, collective
marks, and certification marks
Exclusions from trademark protection - CORRECT ANSWER -immoral or scandalous
matter
-deceptive matter
-descriptive marks
-surnames
Trade secret protection methods - CORRECT ANSWER -physical measures
-written agreements
