Entrepreneurship I: Objective 2.05 Vocabulary Test

The network used to get a product from the manufacturer or creator to the end user.

• Channels

• Competitive Advantage

• Solution

• Problem

An advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices.

• Cost Structure

• Revenue Streams

• Competitive Advantage

• Fixed Costs

The various types of expenses a business incurs and is typically composed of fixed and variable costs.

• Revenue Streams

• Labor Costs

• Marketing Expenses

• Cost Structure

The process of dividing customers into groups based on common characteristics so companies can market to each group effectively and appropriately.

• Customer Segments

• Key Metrics

• Competitive Advantages

• Unique Value Proposition

Costs that are incurred regularly and are unlikely to fluctuate over time. Examples include: overhead costs such as rent, interest expenses, property taxes, and depreciation of fixed assets.

• Fixed Costs

• Variable Costs

• Start-Up Costs

• Operating Costs

A statistic which, by its value gives a measure of an organization's or department's overall health and performance.

• Revenue Streams

• Unique Value Proposition

• Key Metrics

• Lean Canvas Business Model

One page business model designed to allow its user to visualize an entire business plan at a glance.

• Executive Summary

• Lean Canvas Business Model

• Appendix

• Marketing Plan

The reason for the business, the motivator for the product; striving for its solution is the reason the start-up exists.

• Competitive Advantage

• Solution

• Problem

• Key Metrics

The amount of money that it receives from selling a particular product or service.

• Variable Costs

• Fixed Costs

• Cost Structures

• Revenue Streams

The action or process of solving a problem.

• Solution

• Unique Value Proposition

• Cost Structures

• Customer Segments