GMETRIX ESB V.2 final review
Approach - ANS-Making first contact with the customer
B2B - ANS-Businesses that sell to other businesses who are the intended end user of the
product.
Behavioral segment - ANS-Describes the benefits to customers based on their wants or needs
and how they use the product
Benefits of social media - ANS-Social media would expand your marketing reach to new
potential customers for very little cost, so it would be the best choice.
C-corps - ANS-* Best if the company plans to someday sell stock to the public; can issue shares
to founders, employees, and investors.
* Unlimited owners (aka "shareholders") allowed
* Shareholders are not personally responsible for business liabilities.
* Taxed twice-business pays at the corporate level, and shareholders pay on income received. A
separate tax return is required for the business
Closing - ANS-Getting the decision from the customer to move forward
Customer acquisition cost formula - ANS-Sales and marketing expense/ new customer acquired
Demographic segment - ANS-Describes statistical information about customers
Direct-to-consumer - ANS-When a brand or manufacturer sells direct to consumers and the end
users of their products, as opposed to selling to them solely through retailers.
Elements of a Sales Process - ANS-1. Prospecting
2. Preparation
3. Approach
4. Presentation
5. Handling Objection
6. Closing
7. Follow-up
Equity formula - ANS-total assets - total liabilities
Examples of B2B - ANS-1) Wholesale flooring distributor
, 2) Purchases requiring a tax exemption certificate
Examples of B2C - ANS-1) Chain of local grocery stores
2) Motorcycle repair shop
Examples of direct competition - ANS-A company that offers the same thing you offer
Examples of indirect competition - ANS-a business whose services are different from your but
satisfy the same need, when your target audience buys products from a competitor instead of
from you
Examples of offline marketing - ANS-tv ads, flyers and pamphlets
Examples of online marketing - ANS-Social media, email, google ads
Examples of start-up costs include the following: - ANS-Permits, licenses, and incorporation
fees, business cards, logo design, website design, signage, down payment and improvements
on rental property
Follow-up - ANS-Keeping in contact with the customer for retention, repeat business, and
referrals
Geographic segment - ANS-Describes where the customers are located and how they can be
reached
handeling objections - ANS-Listening to the potential customer's concerns and addressing them
Limited Liability Company (LLC) - ANS-* Popular choice for business concerned about liability
protection.
* Unlimited owners (aka "members") allowed. No shareholders. LLCs cannot go public.
* Members are not personally responsible for business liabilities.
* An LLC can choose how to be taxed
Preparation - ANS-Researching the market and tailoring your sales presentation to the
customer
Presentation - ANS-Demonstrating how your product meets the needs of the potential customer
Product Quality control testing involves the following testing processes: - ANS-review the results
of internal quality assurance testing, refine 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, product quality control testing
should be established before sales to customers begin and ongoing after
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