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ESB Lesson 7 Vocabulary - Competitive Advantage

Total questions: 20

Worksheet time: 15mins

Name
Class
Date
1.

Match the definition to the vocabulary word:

The ability and willingness to change actions and plans

to overcome present and future challenges.

a)

Flexibility and Adaptability

b)

Differentiate

c)

Competitor

d)

Competitive Matrix

2.

Match the definition to the vocabulary word:

A business that is trying to do better than others in the same or similar market.

a)

Direct Competitor

b)

Differentiator

c)

Competitor

d)

Indirect Competitor

3.

Match the definition to the vocabulary word:

Something that puts your business ahead of the competition.

a)

Differentiator

b)

Competitive Advantage

c)

Industry

d)

Strong Direct Competition

4.

Match the definition to the vocabulary word:

A business that sells similar products or services.

a)

Competitor

b)

Indirect Competitor

c)

Strong Direct Competitor

d)

Direct Competitor

5.

Match the definition to the vocabulary word:

Grid used to compare characteristics of your business with those of your direct competitors.

a)

Differentiator

b)

Competitive Matrix

c)

SWOT Analysis

d)

Global Economy

6.

Match the definition to the vocabulary word:

What you charge customers for your product or service

a)

SWOT Analysis

b)

Price

c)

Global Economy

d)

Quality of Service

7.

Match the definition to the vocabulary word:

A business evaluation method that focuses on four categories: Strengths, Weaknesses, Opportunities, and Threats

a)

SWOT Analysis

b)

Location

c)

Global Economy

d)

Competitor

8.

Match the definition to the vocabulary word:

The economy of the world, or the economy we share across borders.

a)

Industry

b)

Price

c)

Global Economy

d)

Competitor

9.

Match the definition to the vocabulary word:

A short statement that summarizes the benefits a company gives to its customer segments.

a)

SWOT Analysis

b)

Delivery Method

c)

Unique Factors

d)

Unique Value Proposition

10.

Match the definition to the vocabulary word:

Measurement of the overall performance of a product or service, in terms of your customer’s experience.

a)

Price

b)

Global Economy

c)

Quality of Service

d)

Reputation

11.

Match the definition to the vocabulary word:

Something that makes your company stand out

a)

Unique Value Proposition

b)

Unique Factors

c)

Reputation

d)

Location

12.

Match the definition to the vocabulary word:

A business that sells similar products or services, but has a different focus

a)

Strong Direct Competition

b)

Indirect Competitor

c)

Weak Direct Competition

d)

Direct Competitor

13.

Match the definition to the vocabulary word:

A business that sells similar products or services and has the same focus

a)

Strong Direct Competition

b)

Indirect Competitor

c)

Weak Direct Competition

d)

Direct Competitor

14.

Match the definition to the vocabulary word:

A business that sells a different product or service, but still fills the same customer need or want.

a)

Competitor

b)

Indirect Competitor

c)

Strong Direct Competitor

d)

Direct Competitor

15.

Match the definition to the vocabulary word:

Unique characteristic that distinguishes your business from other businesses

a)

Differentiator

b)

Unique Factor

c)

Unique Value Proposition

d)

Reputation

16.

Match the definition to the vocabulary word:

The production of goods or services within an economy; can include anything from farming to furniture making to healthcare services

a)

Global Economy

b)

Differentiator

c)

Industry

d)

Competitor

17.

Match the definition to the vocabulary word:

Where your business is or where you sell your products or services and whether it gives your business an advantage.

a)

Quality of Service

b)

Price

c)

Delivery Method

d)

Location

18.

Match the definition to the vocabulary word:

The assistance and advice provided by a company to those people who buy or use its products or services

a)

Customer Service

b)

Delivery Method

c)

Reputation

d)

Unique Factor

19.

Match the definition to the vocabulary word:

Positive or negative public opinion of a company, how it operates, products, and services.  

a)

Reputation

b)

Location

c)

Unique Factor

d)

Quality of Service

20.

Match the definition to the vocabulary word:

A standardized procedure for transferring a product or service to the customer.  This should be more convenient, efficient, and/or reliable to be considered an advantage.

a)

Price

b)

Unique Factor

c)

Deliver Method

d)

Customer Service