G-Metrix ESB v.2 - Practice Exam 1
A DJ wants to analyze market reactions to the new music selections played at his dance last
weekend. he advertises his weekly dances using social media an email. which would be the
most effective way to gather reactions from those who attended the dance? - ANS-Surveys
A hair salon acquired 100 new customers last year. costs in the marketing and sales area were
the following
•marketing costs = $1000
•sales calls = $10,000
•salaries = $96,000
what was the customer acquisition cost? - ANS-$10
A photographer wants to do a SWOT Analysis with the characteristics identified. Set up a
SWOT analysis with the characteristics provided about this business by matching the company
characteristics with the appropriate SWOT element. to answer drag the company characteristics
from the column on the left to the corresponding SWOT element on the right. - ANS-Strengths:
large gallery of stock photos
Weaknesses: working alone no skilled help
Opportunities: increase in weddings expected as Covid restrictions ease
Threats: covid pandemic restrictions disallow large family gatherings
clarify several businesses as either B2B or B2C - ANS-B2B:
•Wholesale flooring distributor
•Purchases requiring a tax exemption certificate
B2C:
•Motorcycle repair shop
•Chain of local grocery stores
Classify the following data either primary or secondary. - ANS-Primary:
• information collected from your focus group
• A marketing survey you posted on Facebook
Secondary:
• facts you collected from professional journal articles
• demographic data you obtain from the government
Complete the sentence about Company roles and responsibilities by selecting the correct option
for each drop-down list. - ANS-An example of PIECE WORK compensation is paying field
laborers for the amount of fruit they pick.
A SALARY employees a receives amount of pay each month without overtime compensation for
extra hours worked.
Employees most affected by minimum wage laws are compensated HOURLY.
, An employee who is paid a percentage of a sale is paid by COMMISSION.
For each statement about direct competition and indirect competition select true or false -
ANS-True:
• when your target audience buys products from a competitor instead of from you that is indirect
competition
• indirect competition as a business who services are different from yours but satisfy the same
needs
• Direct competition is a company that offers the same things you offer
False:
• all companies that sell goods and services are indirect competitors
For each statement about owners of equity in a business, select True or False. - ANS-True:
• A partner owns equity.
• founders own equity.
False:
• contractors own equity.
• all stakeholders own equity.
For each statement about product quality control testing select true or false - ANS-True:
• refined quality measures as needed to increase the level of satisfaction with your product
• establish the method to use for testing product quality
• determine what standards have to be met based on the product and industry
False:
• review the results of a competitors quality assurance testing
• don't spend money on product quality control testing unless more than 10% of customers
complain
For each statement about requirements for equity versus the financing select true or false -
ANS-True:
• debt financing requires borrowing money whereas equity financing requires selling a portion of
the company
• The main advantage of equity financing is that there is no obligation to repay the money
acquired through it
• creditors look favorably upon a relatively low debt to equity ratio which benefits the company if
it needs to access additional debt financing in the future
False:
• Equity financing place is a large financial burden on the company
For each statement about the components of business plans and pitch decks select true or false
- ANS-True:
• Business plans are text-based documents
• A pitch deck is a visual slide presentation
• The goal of a business plan is to get investors buy-in
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