Business Life Cycle - CORRECT ANSWER Maturity- The business is separate from
the owner with responsibilities delegated to staff.
Success- Company is stable. and profitable
Takeoff- Expansion strategies are implemented, and investment is balance with
potential.
Survival of the Fittest- Focus sh...
GMetrix ESB Practice Exam 2 STUDY
GUIDE ANSWERED
Business Life Cycle - CORRECT ANSWER Maturity- The business is separate from
the owner with responsibilities delegated to staff.
Success- Company is stable. and profitable
Takeoff- Expansion strategies are implemented, and investment is balance with
potential.
Survival of the Fittest- Focus shifts to revenue, expenses, and growth. Cashflow is
the major issue.
Existence- The business introduces itself to the marker and attempts to catch the
attention of potential customers
Design Thinking Process - CORRECT ANSWER True: Assumptions are challenged
and ideas are created in the Ideate phase; Problem statements are written in the
define phase.
False: Building Prototypes is the final phase of the Design Thinking Process; The
empathize phase tests solutions to users' problems
Pricing Strategy - CORRECT ANSWER Economy Pricing- prices that targeting
customers looking to save as much money as possible
Bundle Pricing- Pair several products together and selling them for less money...
Market Penetration- Setting prices low until after a reliable customer base is
established, then raising prices
Price Skimming- Setting high prices when a product is introduced...
Premium Pricing Pricing- High quality products marketed to high-income
individuals
SWOT Analysis - CORRECT ANSWER True: Acting on weaknesses; Threats
identified in a SWOT
False:Opportunities; Strengths
Elements of a Sales Process - CORRECT ANSWER Handeling Objections- 5
1
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