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ESB V2 Domain 2 Lesson 1 Questions and Answers correct
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ESB V2 Domain 2 Lesson 1 Questions and Answers correct Target Market Identifies the customer group to which a company markets its products and services. Value Proposition Statement that explains why a customer should do business with a company. Primary Data A more accurate and rel...

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  • July 9, 2024
  • 2
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • esb v2 domain 2 lesson 1 questions and answers cor
  • target market identifies the customer group to whi
  • value proposition statement that explains why a cu
  • indirect competitor a business that sells a dif

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ESB V2 Domain 2 Lesson 1 Questions
and Answers correct


Target Market - answer Identifies the customer group to which a company markets
its products and services.

Value Proposition - answer Statement that explains why a customer should do
business with a company.

Primary Data - answer A more accurate and reliable source of customer wants: first-
hand accounts, interviews and surveys.

Secondary Data - answer Less reliable information on customer needs because it
contains personal bias, articles and academic journals.

Direct competitor - answer Business that sells similar products or services to your
business.

Indirect competitor - answer A business that sells a different product or service from
yours, but fills the same customer need or want.

SWOT - answer Strength, Weakness, Opportunity, Threat

Risk tolerance - answer Amount of loss one is willing to take when making an
investment decision.

Executive summary - answer Creates the first impression of a business plan.

Growth Mindset - answer Believing that one can accomplish anything through hard
work.

S Corporation - answer For-profit corporation with limited liability and comes with a
lower tax rate that prevents the company from being double-taxed.

Ideation stage - answer In design thinking where the team comes up with new ideas
to spark new ways of thinking.

Empathy - answer Allows one to see and experience a customer's perspective.

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