NEW
Font size
S
M
L
XL
WorksheetsStudy for ESB Domain 3
Total questions: 39
Worksheet time: 20mins
Name
Class
Date
1.
Put the Phases of the Product/Market Fit Hypothesis in order [1. idea state]
a)
We develop an idea (conceptualize) for a product or service.
b)
middlemen in the indirect distribution channel (wholesalers, retailers, agents, and brokers)
2.
Put the Phases of the Product/Market Fit Hypothesis in order [2. Prototype phase]
a)
Identify how your product or service solves customers problems. You will create a MVP product.
b)
We develop an idea (conceptualize) for a product or service.
3.
Put the Phases of the Product/Market Fit Hypothesis in order [3. launch stage]
a)
Company is legally formed and sales start to occur. Your company will create a value hypothesis to articulate why customers should use your product.
b)
Identify how your product or service solves customers problems. You will create a MVP product.
4.
Put the Phases of the Product/Market Fit Hypothesis in order [4. traction]
a)
Sales gain momentum. Growth begins. This is the MONETIZATION phase
b)
Company is legally formed and sales start to occur. Your company will create a value hypothesis to articulate why customers should use your product.
5.
Put the Phases of the Product/Market Fit Hypothesis in order [5. customer development]
a)
Analyze customer feedback. Change markets. Explore new product lines.
b)
Sales gain momentum. Growth begins. This is the MONETIZATION phase
6.
Put the Phases of the Product/Market Fit Hypothesis in order [6. growth]
a)
Continue to refine and evaluate your product market fit.
b)
Analyze customer feedback. Change markets. Explore new product lines.
7.
when do you know that you have reached Product/Market Fit? Choose 2
a)
when customers tell others to buy your product/ service, sales volume is high and continues to grow
b)
Continue to refine and evaluate your product market fit.
8.
What are the 4 parts of product research?
a)
manufacturing needs, required materials, where to acquire materials, cost of materials
b)
when customers tell others to buy your product/ service, sales volume is high and continues to grow
9.
quality standards [1]
a)
establish the product quality testing method
b)
manufacturing needs, required materials, where to acquire materials, cost of materials
10.
quality standards [2]
a)
refine & improve quality methods and measures as needed
b)
establish the product quality testing method
11.
quality standards [3]
a)
set quality standards
b)
refine & improve quality methods and measures as needed
12.
quality standards [4]
a)
review the internal quality testing results
b)
set quality standards
13.
What are the 2 main types of distribution channels?
a)
direct, indirect
b)
review the internal quality testing results
14.
match the distribution channel to their definition [allows the consumer to make the purchase directly from the manufacturer ]
a)
direct
b)
direct, indirect
15.
match the distribution channel to their definition [the shortest and least complicated distribution]
a)
direct
b)
indirect
16.
match the distribution channel to their definition [doesn't involve a "middle man"]
a)
direct
b)
indirect
17.
match the distribution channel to their definition [customers usually have to pay shipping costs]
a)
direct
b)
indirect
18.
match the distribution channel to their definition [door to door (Girl Scout Cookies) and e- commerce sales]
a)
direct
b)
indirect
19.
match the distribution channel to their definition [use "middlemen" to distribute their products ]
a)
indirect
b)
direct
20.
match the distribution channel to their definition [wholesalers, retailers, and agents]
a)
indirect
b)
direct
21.
match the distribution channel to their definition [usually more expensive and more time- consuming]
a)
indirect
b)
direct
22.
match the distribution channel to their definition [3 levels]
a)
indirect
b)
direct
23.
match the distribution channel to their definition [a product is purchased from manufacturer then sold to customer]
a)
indirect
b)
direct
24.
match the distribution channel to their definition [a wholesaler purchases products in bulk then sells it to other customers]
a)
indirect
b)
direct
25.
match the distribution channel to their definition [an agent gets involved on top of the wholesalers and retailers]
a)
indirect
b)
direct
26.
T/F: The cost of indirect distribution changes depending on how many middlemen it goes through to get to the end consumer.
a)
true
b)
false
27.
T/F: distribution and fulfillment centers store and ship products for businesses. And they are both indirect distribution channels.
a)
true
b)
false
28.
This is an example of a fulfillment center
a)
amazon
b)
buying something online then choose the in store pickup option
29.
This is an example of a distribution center
a)
buying something online then choose the in store pickup option
b)
amazon
30.
Loxley owns a Ice Cream Shoppe and is evaluating her third quarter. She wants to figure her customer retention rate for the third quarter. Using the following information, determine Loxley's CRR. Round your answer to the nearest whole number. She had 70 customers at the end, 30 at the beginning, and 65 new customers. ROUND TO THE WHOLE NEAREST %
a)
17%
b)
0.5
31.
Steven owns a Car Detailing business and is evaluating his third quarter. He wants to figure his customer retention rate for the third quarter. Using the following information, determine Steven's CRR. Round your answer to the nearest whole number. She had 400 customers at the end, 600 at the beginning, and 100 new customers. ROUND TO THE NEAREST %
a)
50%
b)
0.17
32.
Noah owns a Electronics repair business. He spent $7,070 on marketing expenses and $5,040 in sales costs last year. He obtained 1,520 new customers. What were his acquisition costs? Round to the nearest cent
a)
$7.97
b)
13.81
33.
Carl's company acquired 800 new customers last year. They spent $10,000 in new marketing costs and $1,050 in sales costs. What was Carl's CAC? (round to the nearest cent)
a)
13.81
b)
7.97
34.
Name the 4 P's (marketing Mix)
a)
Price, product, place, promotion
b)
13.81
35.
Types of Businesses [retailers]
a)
buys products from wholesalers then sells to consumers
b)
Price, product, place, promotion
36.
Types of Businesses [wholesale]
a)
buys from manufactures then sells to retailers
b)
buys products from wholesalers then sells to consumers
37.
Types of Businesses [manufacturers]
a)
creates goods
b)
buys from manufactures then sells to retailers
38.
Types of Businesses [agents]
a)
individuals or companies that act as an extension of the manufacturing company. Their main job is to represent the producer to the final user in selling a product
b)
creates goods
39.
Types of Businesses [intermediaries]
a)
middlemen in the indirect distribution channel (wholesalers, retailers, agents, and brokers)
b)
individuals or companies that act as an extension of the manufacturing company. Their main job is to represent the producer to the final user in selling a product
Reset
