ESB CERTIFICATION EXAM QUESTIONS WITH CORRECT ANSWERS |LATEST UPDATE 100%
SOLVED| GRADED A+
Which 2 types of information can be found on a profit and loss statement? Revenues,
Expenses
Market/Fit Hypothesis - Exists when you have the right solution to a problem worth solving
- Exists when people need your product rather than just seeking a potential benefit of using it.
- When users love your product so much they tell other people to use it.
Value Hypothesis In addition to identifying the problem a product or service solves, it should
promote things like product features, pricing, and the business model to entice potential
customers.
Product/Market Fit Description 1. Idea stage- when one develops an idea for a product of
service.
2. Prototype stage- identifies how a product or service solves customers' problems.
3. Launch stage- when a business is legally formed, and sales start to occur.
4. Traction stage- when sales gain momentum and a business starts to grow.
5. Monetization stage- occurs when a business starts to earn revenue.
6. Growth stage- occurs when one sees growth and continues to grow the business.
Value engineering Substituting high-quality components. with low-cost components
,which agencies might set quality control standards in some industries? 1. A government
regulatory agency
2. Industry leaders
3. Local health and safety inspectors
Creating a quality control process 1. Set quality standards
2. Establish the method of testing product quality
3. Review the internal quality testing results
4. Refining quality measures to increase product satisfaction
Benefits of equity funding 1. Can be used to raise working capital.
2. Investors do not get paid if the business does not make a profit.
Small Business Administration (SBA) A TYPE OF FUNDING.
an agency of the federal government designed to maintain and strengthen the nation's
economy by aiding, counseling, assisting, and protecting the interests of small businesses.
Eligibility requirements:
1. The business must operate for profit.
2. The company must do business within the US.
3. The owners must have responsible owner equity to investment.
, What are the two segments in a Marketing Plan? Demographic and Psychographic
Elements of Marketing Plans - Executive summary/business plan: overview/summary of the
marketing plan.
- Situation analysis: details a company's marketing efforts and the factors that sway marketing
strategies.
- Defining the target market
- Delivery plan: outlines how the products/services will be sold and delivered to customers.
- Marketing Mix: discusses a company's four Ps: product, price, place, and promotions in-depth.
- Strategies and tactics: approaches a company plans to use and the actions that need to occur
during the execution.
- Offer of message: details a message a company is sending to customers.
- Budget section: outlines how much a company has to spend on marketing costs and how it
plans on spending the $.
SOLVED| GRADED A+
Which 2 types of information can be found on a profit and loss statement? Revenues,
Expenses
Market/Fit Hypothesis - Exists when you have the right solution to a problem worth solving
- Exists when people need your product rather than just seeking a potential benefit of using it.
- When users love your product so much they tell other people to use it.
Value Hypothesis In addition to identifying the problem a product or service solves, it should
promote things like product features, pricing, and the business model to entice potential
customers.
Product/Market Fit Description 1. Idea stage- when one develops an idea for a product of
service.
2. Prototype stage- identifies how a product or service solves customers' problems.
3. Launch stage- when a business is legally formed, and sales start to occur.
4. Traction stage- when sales gain momentum and a business starts to grow.
5. Monetization stage- occurs when a business starts to earn revenue.
6. Growth stage- occurs when one sees growth and continues to grow the business.
Value engineering Substituting high-quality components. with low-cost components
,which agencies might set quality control standards in some industries? 1. A government
regulatory agency
2. Industry leaders
3. Local health and safety inspectors
Creating a quality control process 1. Set quality standards
2. Establish the method of testing product quality
3. Review the internal quality testing results
4. Refining quality measures to increase product satisfaction
Benefits of equity funding 1. Can be used to raise working capital.
2. Investors do not get paid if the business does not make a profit.
Small Business Administration (SBA) A TYPE OF FUNDING.
an agency of the federal government designed to maintain and strengthen the nation's
economy by aiding, counseling, assisting, and protecting the interests of small businesses.
Eligibility requirements:
1. The business must operate for profit.
2. The company must do business within the US.
3. The owners must have responsible owner equity to investment.
, What are the two segments in a Marketing Plan? Demographic and Psychographic
Elements of Marketing Plans - Executive summary/business plan: overview/summary of the
marketing plan.
- Situation analysis: details a company's marketing efforts and the factors that sway marketing
strategies.
- Defining the target market
- Delivery plan: outlines how the products/services will be sold and delivered to customers.
- Marketing Mix: discusses a company's four Ps: product, price, place, and promotions in-depth.
- Strategies and tactics: approaches a company plans to use and the actions that need to occur
during the execution.
- Offer of message: details a message a company is sending to customers.
- Budget section: outlines how much a company has to spend on marketing costs and how it
plans on spending the $.
