ESBV.2EXAM2
Abakeryhasdevelopedanewartisanbread.Thestaffaregivingawaytastesamplesto customersastheyenterthestore.Whataretwocriteriathebakerycanusetodeterminethequalityoftheirnewproduct?(Choose two)-ANS-Measuresalesofthenewbreadaftercustomershavesampledit.
AND Observecustomerreactionswhiletheytastetheproduct.Abarbercharges$20.00perhaircut.Thetotalcostforrunninghishome-basedbusinessis $4,000.00permonth,whichincludeshissalaryof$3,000permonth.Theminimumnumberof haircutshemustdotocoveralloftheseexpensesandhissalaryis200permonth.Thebarberwantstoincreasehissalaryto$4,000permonth,makinghistotalmonthlyexpenses $5,000.Whatistheminimumpricehemustchargeforeachofthe200haircutssohecancover thisincreasedsalary?-ANS-$25 Alocalrestaurantpridesitselfinhavingahighnumberofreturncustomers.Tobuildloyalty,the owneroftherestaurantoffersafreePrimeRibdinner(value$20)toanycustomerwho purchasesamealduring10previousvisits.Mealspurchasedaretrackedbystampsona LoyaltyCard.Attheendofamonth,theownerdecidestocalculatethecustomerretentioncost.Thedatais
thefollowing:
-NumberofCustomersatStartofMonth=100 -NumberofCustomersatEndofMonth=120 -NumberofNewCustomers=40 -ValueofFreeDinnersRedeemed=$240 WhatwastheCustomerRetentionCost?-ANS-$3 Arancherispreparingtoretire.Heisconsideringsellinghalfofhislandandgivingtheotherhalf tohischildren.Hehearsthatdevelopmentforaskiresortwasjustapprovedonlandadjacentto hisproperty.Whichviablebusinessopportunitydoestheretiringrancherforesee?-ANS-Anincreaseinland value 1 / 2
ClassifyeachofthefollowingbusinessesaseitherPhysicalorDigital.-ANS-Physical:
-Bakeryinyourcommunity -Hairsalonthatmakesappointmentsonline
Digital:
-Onlinestorethatdropshipscampinggear -BookstoreonAmazonthatsellseBooks Completethesentenceaboutbusinessdocumentsbyselectingthecorrectoptionfromeach dropdownlist.A_____isamulti-pagedocumentdescribinganddetailingabusiness.Aslidepresentationforpotentialinvestorsthatsummarizesofthekeyitemsofabusinessis calleda_____.A_____isasingle-pagebusinesssummarytemplatethatwascreatedbyAshMaurya.-
ANS-Blank1:BusinessPlan
Blank2:PitchDeck
Blank3:LeanCanvas
ForeachstatementaboutProduct/MarketFit,selectTrueorFalse.-ANS-True:
-Afitexistswhenpeopleneedyourproductratherthanjustseeingapotentialbenefitofusing it.-Beforehypothesizingasolution,firstdetermineifthereisaproblemworthsolving.-Whenusersloveyourproductsomuchtheytellotherpeopletouseit,youhave product/marketfit.
False:
-Startupsshoulddevelopagrowthhypothesisbeforetestingtheirvaluehypothesis.
ForeachstatementaboutRequirementstoObtainFunding,selectTrueorFalse.-ANS-True:
-Bootstrappingrequirestheowner(s)ofthecompanytoprovideallofthefunding.-Equityfinancingrequiresabusinessownertogiveupcontrolofthebusinesstoobtainfunding.
False:
-Lendersdonotrequireownerstoidentifythepurposeoftheloan.-Thebusinessowner'spersonalcreditscoredoesnotaffecttheirabilitytoqualifyforaloan.ForeachstatementaboutStart-UpCostsandOperatingCosts,selectTrueorFalse.-
ANS-True:
-Logoandwebsitedesignareexamplesofstart-upcosts.
- / 2