Quizzes Entrep. (6,7,8)

When considering pricing, the amount the market will pay is called:

Percieved Value (customer’s emotional or rational assessment of a product's worth)

Your revenue model is based upon:

Purchase frequency and seasonality

Your capacity and ability to scale
The size of the target market

Bites - the burger restaurant in Statesboro - uses which which revenue model?

Direct Asset Sales

Ebay and AirBnB are examples of which revenue model?

indexing/intermediation

Pricing is ______ and ____:

an art and a science

measures the percentage of revenue lost due to customers leaving

churn rate

A pricing model in which we sell a unit and then sell renewable products it needs to operate, like selling a razor and then selling blades, is called:

captive unit pricing

Eagle Trends, an online retailer, has a storage unit across town where unsold merchandise is kept that they use without owning, and pay for on a monthly basis. The owner of the storage unit uses which revenue model?

Renting

The price you charge the customer is a combination of _____________ and ____________ value.

Objective and perceived

What phrase should you never let yourself say about your value:

We're the cheapest!

Which of the following is NOT a Channel strategy: Resellers, Independent sales rep firms, Direct pick up, Value added resellers

Direct pick up

Suppose Victor Paladin operates a company that builds computers, which he then sells to retailers who sell them to end-user customers for $800-$1,000. He operates a ____ step distribution channel.

2

Which of the following is an important consideration in how the transaction occurs in a channel?

How much will payment systems charge, can the item break in shipping, all the choices here, how will we handle returns

all the choices here

Which of the following is a web channel, like an Amazon:

Aggregators

How many steps was the channel model shown in the video

4

The amount of money it costs to do each function through the channel is called:

Channel costs

Which of the following is/are characteristic(s) of a "New Market" type:

There is a liability of new-ness, Profitability is often slow, The burden is on educating the customer base.

On the Lean Canvas, which represents the actual way your customer pays for and takes possession of your good or service?

Channels

A "channel" is:

How the company gets its product to the customer

Which of the following is NOT one of the key considerations of the "Channels" component of a business model:

Is the channel short or long?

Which of these is NOT something a pitch needs to do?

Enlighten a concerned customer

When you expose a compelling problem, which of these things should you do:

Talk about emotions

What do the 6-C's describe for a potential investor?

he integrity and passion of the entrepreneur

Which of the following is NOT a "Deal Breaker" in a pitch?

Being nervous during a pitch

Things like patents, tests that you've passed, or certifications you've gotten are called:

validation points

What is a common way to get off to a bad start?

Starting with asking a rhetorical question

During a pitch, you want to be ____________ but not overly _____________.

enthusiastic; emotional

Why is it important to hand out your contact information during your pitch?

You never know who in the audience may want to invest

The worst thing in the world you can say when making comparison points is that "We have no competition!" T/F

True

Which of these do not contribute to explaining a compelling solution to the problem:

Explaining the potential for revenues