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ESB EXAM Study Guide Questions with Solutions
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ESB EXAM Study Guidecash - answer government back currency
Line of Credit (LOC) - answer a loan to purchase now and pay later
Geographic - answer A home remodeling business wants to identify customer
segments to target its services. Match each method of segmentation to its potential
customers.
Setup a studio with a gallery of sample photography
Psychographic - answer A home remodeling business wants to identify customer
segments to target its services. Match each method of segmentation to its potential
customers.
Homeowners who like modern decor and conveniences
Demographic - answer A home remodeling business wants to identify customer
segments to target its services. Match each method of segmentation to its potential
customers.
Homeowners with higher incomes
Harvesting - answer Exchanging ownership for cash, either by acquisition or merger
Creativity, Determination, Enthusiasm - answer What are three characteristics of
entrepreneurs?
being your own boss - answer Which is one of the greatest benefits of
entrepreneurship?
Flexibility - answer Ability to adapt, willingness to change
Courage - answer Takes risks in spite of possible losses
Empathy - answer Sensitive to thoughts and feelings of others
Buy an existing business that is already successful. - answer Buy an existing
business that is already successful. After a self-assessment, a potential entrepreneur
, has learned that she has a very low risk tolerance. Based upon this finding, which
approach might be less stressful for the entrepreneur to have her own business?
location - answer An entrepreneur moves into a small town and notices several
stores selling guns and ammunition. The entrepreneur loves to compete in competitive
shooting events. Based on the scenario provided, what should be emphasized in
marketing to attract customers?
Lower Prices - answer Lower Prices An entrepreneur has been working for a flooring
business in a neighboring town. He feels he is ready to open his own flooring business
in his local community. Which should be emphasized in marketing to attract customers
to his new business?
Long hours, potential business failure, financial insecurity - answer Which are three
risks of entrepreneurship?
Autonomy - answer Gabe has worked as a journeyman electrician for an employer
for the past 16 years. He is paid a good salary. His only dissatisfaction is the hours are
long and often when he requests time off he is denied because of customer workload.
Which benefit of entrepreneurship will Gabe most enjoy?
Developing your own rules - answer What is a primary benefit of starting a new
business without purchasing a franchise or buying an existing business?
Businesses - answer Based upon the education and skills gained from the years of
vocational training as an auto mechanic, as well as having grown up in a family of
entrepreneurs, a young adult decides to open an auto mechanic shop. Which customer
group will this new auto mechanic business support?
Geographic - answer The owner of a pizza delivery business is seeking new
customers. The owner has identified a group of potential customers that have moved
into some new housing within reaches of his drivers. Which method of segmentation is
the owner using?
Business owners and investors - answer Which two groups benefit most from a well-
written business plan?
Target Markets - answer Which of the following should be addressed in the
description section of a business plan?
Sole Proprietorship - answer Easy to setup, but has unlimited liability.
General or Limited Partnership - answer Terminates upon death of a partner
C Corporation - answer Double-taxed, but best for international businesses
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