WorksheetsDistribution Channels and Product/Market Fit Quiz
Total questions: 74
Worksheet time: 37mins
_______ is measured by how well the product or service successfully serves its users' purpose.
Temperature
Feet and Inches
debit
What are two examples of direct distribution channels?
door to door and ecommerce
Business to wholesale
E commercie
B2B
Indirect distribution channels use _______ to sell their products to the end customers.
pitch guys
influencers
Middlemen
Side chicks
The first stage of the product/market fit is the _______ stage.
Prototype
Launch
Traction
The second stage of the product/market fit is the _______ stage.
Idea
Prototype
Launch
Traction
The third stage of the product/market fit is the _______ stage.
Idea
Prototype
Launch
Traction
The fourth stage of the product/market fit is the _______ stage.
Idea
prototye
Launch
Traction
The fifth stage of the product/market fit is the ________ stage.
Launch
Idea
Prototype
The sixth and final stage of the product/market fit is the ________ stage.
Prototype
Monetization
Launch
Growth
The first step of creating a quality control process is to ______________.
Prototype
Review internal quality results
Launch
The second step of creating a quality control process is to ______________.
FIgure out what good quality looks like
Review results
Change methods if necessary
The third step of creating a quality control process is to ______________.
Set quality standards
Refine and improve quality methods
Review the internal quality testing results
Give up and go home
The fourth step of creating a quality control process is to ______________.
Set quality Standards
Review internal quality results
Figure out what quality means to this product
Refine and improve quality methods and measures
Sarah is a(n) ________ because she performs tasks while abiding by company policies and receives a wage for her work.
CEO
Employee
COO
CFO
Sharon is in the _______ stage because she is earning more money, and the company's finances are doing well. Because she is not yet preparing to finance future growth, she is not yet in the take-off stage.
Survival
Success
Empathizing
Product maturity
Knowing a process has been tested and works well is valuable to companies as they can assume it would work just as successfully for their company. As a result, companies may want to use __________ materials.
Tarriffs
Process
SMART
Trade Secret
A written document that details how a business will be structured, managed, run, and grown.
Pitch Deck
Business Plan
LCBM
Marketing Plan
A brief overview of a business plan, the products and services that will be provided, the funding needed, and financial projections.
Marketing Plan
Business Plan
LCBM
Pitch Deck
Covers problems and solutions, value propositions, marketing channels, key metrics, costs, and revenue without all of the business plan details.
Lean canvas or LCBM
Pitch Deck
Business Plan
Marketing Plan
__________ involves solving problems in the best way by considering various potential solutions to the problem.
Bringing it
Overthinking it
Critical Thinking
Critical race theory
________________ bring new and unconventional ideas to the table and finding creative and new solutions to the way things are done.
Bootstrapping
Perseverence
Individualism
Creativity and innovation
______________ is working with others toward a common goal.
Confabulation
Congressional hearings
Confusion cycle
______________ is coming up with solutions to solve a problem.
Bootstrapping
Figure skating
Diabolical ramblings
Problem Solving
______________ is working towards achieving a goal without someone directing and ensuring it is being done.
hip hop dreams
Teamwork
Personal Agency
Personal trainer
______________ involve decision-making based on morals and doing the right thing.
Decision making
Ethical practices
problem solving
Critical thinking
______________ involve preventing and removing any corruption and unethical behavior that could harm a business, the community, or the environment.
Weeding process
Social networking
Critical thinking
What must happen before one can use someone else's patent?
They must email the patent holder
They must wait on the patent to expire
They must use threats and intimidation
With ________, it is easy to target a specific geographic location.
Internet marketing
Television marketing
Newspaper marketing
General marketing
What is the formula for selling price?
(cost * desired profit margin) - cost
(cost/desired profit margin) + cost
(cost * desired profit margin) + cost
(profit margin - cost) / profit margin
What is the formula for calculating Customer Acquisition Cost (CAC)?
(Marketing expenses + Number of new customers in the period) / Sales
(Marketing expenses - Sales expenses)/ number of new customers in the period
All expenses (sales and marketing) divided by number of new customers in the period
What is the formula for calculating Customer Retention Rate (CRR)?
[Ending number of customers in a period + new customers gained in a perod)/Starting customers in a period] / 100
[Beginning number of customers in a period + new customers gained in a perod)/Starting customers in a period] / 100
[Ending number of customers in a period + old customers lost in a perod)/Starting customers in a period] / 100
[(Ending number of customers in a period - new customers gained in a period)/Starting number of customers in a period] * 100
__________ is the owner's remaining value after all liabilities have been deducted.
Equipment
Liability
Expenses
What is the formula for calculating equity?
Liabilities - Assets
Assets + Liabilities
Equity - Assets
Assets - Liabilities
What is the formula for calculating assets?
LIabilities - Equity
Liabilities - bills
Equity and inclusion
A(n) ____________ shows what a company owns (both assets and liabilities).
Income statement
Balance Sheet
A(n) ____________ shows the total revenues and expenses for a specific period of time.
Balance Sheet
Income Statement
What is the formula for calculating net income?
total income + COGS - expenses
total income - COGS - expenses
total income - expenses + COGS
Total profit gained
What is the formula for calculating gross profit?
Income + COGS
Income / COGS
COGS / Income
What is the formula for calculating income tax expense?
Assets + Liabilities
gross profit * tax rate
Liabilities + owners equity
Tax rate * Assets
What is the formula for calculating the break-even point?
Selling price + monthly cost
Total monthly cost + all expenses
Total monthly cost/selling price
Selling price - monthly cost
What is the formula for calculating ending cash balance?
Total cost + cash
Total cost / cash
Total cost - toal cash
Total cash - total costs
A ________ is used to identify the amount of cash a company is spending each month.
run rate
interest rate
tax rate
What is the formula for calculating the burn rate for a company?
Ending balance - Beginning balance
Beginning balance + ending balance
Beginning balance - ending balance
Beginning balance / Ending balance
A __________ is used to make projections about a company's future performance. It usually uses a specific period (usually a month).
Burn rate
Heart Rate
Tax Rate
What is the formula used to calculate the run rate for a company?
Monthly revenue divided by 12
Monthly revenue plus 12
Monthly revenue times 12
Monthly revenue times COGS
__________ is used by businesses to show how much their investment is earning.
Federal tax return status
Return on equity
(ROE)
Return on Investment (ROI)
Balance Sheet
What is the formula used to calculate ROI? (hint: the first part is used to calculate net profit)
Add the initial cost of the investment from its final value, then multiply by the initial cost of the investment.
Math is hard
Cost of investment divided by final value and added to the GDP of the United States
subtract the initial cost of the investment from its final value, then divide by the initial cost of the investment, and then multiply it by 100.
__________ is where an owner uses their own savings to fund a business.
Angel investing
Backstabbing
Bootstrapping
Big stomping
The ____________ makes it easier for small businesses to get loans. It reduces the risk for lenders, etc.
IRS
Small Business Administration (SBA)
Executive branch of Government
Bank
_____________ loans must be paid back within 25 years.
Inventory and equipment
____________ loans must be paid back within 10 years.
Personal
Real estate
Pay Day
__________ do not have to be paid back. They commonly come with restrictions/guidelines on how the money can be spent.
Loans
Grants
__________ are wealthy individuals willing to finance a business for an equity stake in the business in return.
bootstrappers
Big money men
Whales
Angel Investors
__________ is done by sharing your startup business on an online platform where you can pre-sell your products. The $ from the pre-sell orders can be used as capital for your business. (some websites require a processing fee and/or you meet your full financial goal to access the $ you raise)
Bootstrapping
Angel investing
Crowd surfing
Identifies it as a Creative Commons license.
BY
SA
RE
Credit must be given to the creator. ___
SA
BY
SE
BS
Adaptations must be shared under the same terms. ___
BS
CC
TM
Only noncommercial uses of the work are permitted. ___
SA
BY
No derivatives or adaptations of the work are permitted. ___
CC
BS
ND
SA
________ licenses use abbreviations in their names to describe what is and isn't permitted.
Drivers
Diving
Creative Commons
Teacher's
________ is usually the first step in the Sales Process. It involves finding potential customers, determining if they have a need for your product, and whether they can afford it.
Monetizing
Prospecting
Launch
Prototype
________ involves listening to the potential customers' concerns and addressing them.
Approach
Presentation
Closing
Handling Objections
__________ is getting the decision from the customer to move forward.
Feedback
Closing
Preparation
Mingling
__________ is demonstrating how your product meets the needs of the potential customer.
Approach
Preparation
Closing
__________ is researching the market and tailoring your sales promotion to the customer.
Presentation
Closing
Canoodling
__________ is making first contact with the customer.
Presentation
Approach
Closing
Researching
______________ involves keeping in contact with the customer for retention, repeat business, and referrals.
Closing
Follow-up
Approach
Presentation
Which sales channel has been opened to manufacturers because of digital tools?
B2C Business to Customer
D2C Direct to Consumer
D2D Diverse to Customers
WWJD bracelets for sale
In the business life cycle, ________ is when the business introduces itself to the market and attempts to catch the attention of potential customers.
Survival
Success
Takeoff
In the business life cycle, ________ focuses shifts to revenue, expenses, and growth. Cashflow is a major issue.
Existence
Takeoff
Survival
Success
In the business life cycle, ________ is when the company is stable and profitable.
Existence
Survival
Takeoff
Success
In the business life cycle, ________ is when expansion strategies are implemented, and investment is balanced with potential.
Existence
Survival
Success
In the business life cycle, ________ is when the business is separate from the owner with responsibilities delegated to staff. A business in this stage usually commands a considerable share of the market and may even be a household name.
Maturity
Survival
Existence
Success
Which form of advertising is the most dominant medium?
Radio
Internet
Newspaper
Television
