ESB Exam Review

4. A short statement that summarizes the benefits a company gives to its customer segments.
5. What financing is a method of financing a startup business by selling shares of ownership in the business?
6. What type of pricing is it when a business charges a high price for a product or service to appeal to customers who want a luxury product. An example of this is designer clothing.
7. Digital sales channels, sales conducted online, such as by purchasing sneakers through a website.
11. A market with a limited number of customers within a market who are the most likely to buy a product or service.
12. Abbreviation of a business sells goods to other businesses that are the end customer.
13. The 7th step in the sales process, providing good customer service to retain customers and ensure repeat business and get referrals.
15. The amount of gross sales from goods and services.
16. The 3rd step in the sales process, talking to customers.
18. is the amount of revenue required to cover your expenses. It helps a business owner know how many of their products must be sold to pay the bills successfully. breakevenpoint
20. Starting a business by yourself, without any outside investment. Bootstrapping
21. Fund The amount of money a business should have available in the first three to six months for the emergencies that often arise when a company is just beginning.

1. The 4th step in the sales process.
2. It is the one-time sum required to start a business and cover the startup expenditures.
3. The amount of money a business owes to vendors.
5. The costs a business has to maintain operations and sell goods and services.
8. The 1st step in sales process, finding customers; deciding whether they need your product and can afford it.
9. The 6th step in sales process, getting customers to buy your product or service.
10. What analysis is a tool used for evaluating business opportunities?
11. External obstacles in a SWOT analysis.
14. The 2nd step in the sales process, thinking about the market and ways to convince customers to buy your product or service.
17. a business by raising money from a large number of people online.
19. What investor interested in financing startup ventures?