Exam (elaborations)
ESB Certification 3 (2024) Questions With 100% Correct Answers.
- Course
- Institution
ESB Certification 3 (2024) Questions With 100% Correct Answers.
[Show more]
Seller
Follow
EvaTee
Reviews received
Content preview
ESB Certification 3 (2024) QuestionsWith 100% Correct Answers.
An executive summary should briefly explain everything in a business plan in how
many pages? Answer- Two pages.
Factors that aid in determining whether or not a business opportunity is viable
include market size, _____, management of cash flow, management skill sets, and
passions. Answer- Relationships.
One value of using _____ material is that they are usually well-recognized, which
may help to boost sales. Answer- Trademarked.
Which two sources are considered secondary data? Answer- "Company
newsletters" and "internet articles."
What are twos characteristic of fulfillment centers that differ from direct distribution?
Answer- "Fulfillment centers pack and ship for a manufacturer" and "the
manufacturer controls all aspects of distribution."
Match the sales process steps to their description. Answer- Prospecting: "Finding
potential customers."
Preparation: "Developing a presentation tailored to a potential client and their
specific needs."
Approach: "Contacting a client or potential client."
Objection: "Alleviating concerns presented by the customer."
Closing: "Getting a client's decision to purchase or not to move forward."
Follow-up: "Maintaining a relationship with customers to obtain repeat business and
potential referrals."
When it comes to setting one's own quality standards, one must ensure they are...?
Answer- Measurable.
, What are two characteristics of direct distribution that differ from fulfillment centers?
Answer- "Direct distribution is also known as a zero level channel" and "the
manufacturer controls all aspects of distribution."
What might one have to do when listening to feedback from customers? Answer-
"Change markets" and "create completely new products."
For each statement about Direct Distribution and Indirect distribution Answer- True:
"Direct competition is a company that offers the same thing you offer," "indirect
competition is a business whose services are different from yours but satisfy the
same need," and "when your target audience buys products from a competitor
instate of from you, that is indirect competition."
False"
All companies that sell goods and services are indirect competitors."
Which are options for determining what a customer's service needs are? Answer-
"Talk with individuals interested in the service," "survey customers in the area," and
"place phone calls."
What is value engineering? Answer- "Substituting high-quality components with low-
cost components that still meet the product's lifetime duration and basic purpose."
What is the formula for determining a return on investment (ROI)? Answer- ROI =
(Net profit/cost of investment) x 100
When must real estate loans through the Small Business Administration (SBA) be
paid back? Answer- 25 years
Match the product/market fit stage to its description. Answer- Traction: "Sales gain
momentum and a business starts to grow."
Prototype: "Identify how a product or service solves customers' problems."
Monetization: "A business starts to earn revenue."
Idea: "Develop an idea for a product or service."
Growth: "See growth and continue to grow the business."
Launch: "The business is legally formed, and sales start to occur."
Deidre owns a pet store. Last month, her income was $5,500, her cost of goods was
$800, and her total expenses were $2,600. What are Deidre's net income and gross
income for last month?
Net income = $2,100 and Gross income = $4,200
Net income = $3.100 and Gross income = $4.700
Net income = $2,100 and Gross income = $4,700
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller EvaTee. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now