ESB Study

You decide to create new type of energy bar. You take some samples to a focus group to get their reactions to your product. Which stage of the development process are you in?

• Market Strategy Creation

• Concept Development

• Product Development

• Idea Generation

For a personal business opportunity, you will be required to go through more intensive training than for a franchise opportunity.

• True

• False

You need to create an operating budget for your business. Your financial information for the month is as follows: Labor: $1,000 Materials: $4,000, Utilities: $400, Computer: $1,400, Rent $700, Website Design $1,200, Insurance: $150. What is your monthly operating budget?

• $8,850

• $7,650

• $6,250

• $7,450

Which of the following expenses are a “Customer Retention Cost"?

• SEO Marketing

• Affiliate Programs

• Training Programs

• Engagement Programs

The design thinking process is highly focused on using secondary research to develop solutions to problems.

• True

• False

Which two marketing platforms are examples of owned media?

• Social Media Ads

• Blogs

• Websites

• Reviews

Which of the following expenses are a "Customer Acquisition Cost"?

• SEO Marketing

• Affiliate Programs

• Training Programs

• Engagement Programs

For third-party sellers, what are two marketing benefits of selling products on a marketplace?

• Access to the marketplace's market knowledge

• Access to the marketplace's technology

• Access to the marketplace's employees

• Access to the marketplace's customer base

Trade Secret licensing must be registered with the government.

• True

• False

Distributors use their sales force to sell another company's product.

• True

• False