ESB Practice A

A key example of a prebuilt ____service many companies use is a Software as a Service (SaaS) platform.

• Manual

• Automatic

• digital

• Physical

What are two examples of direct distribution channels?

• Wholesaler sales

  Retail sales

• Door to door sales

  Retail sales

• door to door sales

  E-commerce sales

• None of these

Indirect distribution channels use ___ to sell their products to the end customers

• middlemen

• advertisements

• the internet

• door to door sales

Product/market fit occurs when a business continues to grow due to customer demand.

• False

• True

Using a product once is an indicator of product /market fit

• False

• True

A value hypothesis explains the reason why a customer may choose not to use a product

• True

• False

Product/market fit automatically results in high-volume sales

• True

• False

Hailey owns a bike shop. She is preparing the cash flow statement for her first year of operation. She had a beginning cash balance of $4,700, $101,000 in total cash sales, $3,300 for utilities, $2,500 in loan payments and $5,600 for marketing costs. What is Hailey's ending cash balance?

• $94,300

• $11,400

• $94,600

• $105,700

Answer explanation

$4,700 + $101,000 = $105,000 in total cash. $3,300+ $2,500 + $5,600 = $11,400 in total costs. Hailey's ending cash balance is $94, 300 because $105,700 - $11,400 = $94,300

Lauren owns a restaurant. She had a beginning cash balance of $2,500, $57,250 in total cash sales, $5,300 for utilities, $7,500 in loan payments, and $3, 200 for marketing costs. What is Hailey's ending cash balance for the year?

• $75,750

• $16,000

• $43,750

• $59,750

Answer explanation

$2,500 + $57,250 = $59,750 in total cash. $5,300 + $7,500 + $3,200 = $16,000 in total costs. Lauren's ending cash balance is $43,750 because $59,750 -$16,000= $43,750

Covers problems and solutions, value propositions, marketing channels, key metrics, costs, and revenue without all of the business plan details.

• Lean canvas

• Pitch deck

• Critical thinking

• Creativity and innovation