ESB V.2 1

Your company manufactures 72 hour emergency kits and sells them for a low profit margin. You want to expand your customer base to increase your sales volume, but you have a limited budget. What marketing method would be the best choice?

• Distribute flyers

• Social Media

• Email

• Local Television Ad

A DJ wants to analyze market reactions to the new music selections played at his dance last weekend. He advertises his weekly dances using social media and email. Which would be the most effective way to gather reactions from those who attended the dance?

• Personal Interviews

• Surveys

• Observation

• Focus Groups

A hair salon acquired 100 new customers last year. Costs in the marketing and sales areas were the following: Marketing costs=$1,000, Sales Costs=$10,000, Salaries=$96,000. What was the customer acquisition cost?

• $1,110

• $1,070

• $110

• $107,000

Which element of a marketing plan provides a synopsis of details to be outlined later in the plan?

• Executive Summary/Business Description

• Marketing Mix

• Situation Analysis

• Delivery Plan

Which Sales Channel has been opened to manufacturers because of digital tools?

• B2B

• Direct-to-Consumer

• Wholesale

• Distribution

A toy company wants to create a product/market fit hypothesis for a new toy. Which element of the hypothesis involves writing a statement explaining what the new toy does and how it is different from the competition?

• Identify underserved customer needs

• Value Proposition

• UX

• Determine the target customer

You are a technical trainer. You teach online courses to help workers more efficiently use Microsoft Office applications. What is an effective way to measure your teaching performance during an online course?

• Form a focus group

• Conduct onscreen pop-up quizzes

• Ask the sales team if demand increased

• Email an evaluation a week after the course

You have an idea for a new product. Market research suggests the product is needed to solve a problem and will be enthusiastically embraced by customers. What is one of the first steps you must do before creating a product prototype?

• Identify materials

• Create a social media following

• Pre-sale the product for funding

• Launch a marketing campaign

A nail salon pays $2500 in rent per month and each nail tech gets paid $20 per client visit. Supplies cost $500 per month. At 150 client visits per month, how much does the salon have to mark up each visit, percentage-wise, to break-even at the end of the month?

• 200%

• 50%

• 25%

• 100%

You operate a small insurance office with a partner. Which expense is a fixed cost?

• Cost of paper supplies

• Property lease for the office

• Water bill for an office

• Paycheck for an hourly administrative assistant