DOMAIN 1
Level of familiarity one has with a brand
Brand Recognition
A planning tool used to document a company's strengths, weaknesses, opportunities, and threats.
SWOT analysis
Is Amazon a distribution center or fulfillment center?
Fulfillment Center
{(Cost) * (Desired profit margin)} + (Cost)
Selling Price Formula
Businesses that sell goods directly to consumers (e.g., brick-and-mortar stores, online retailers
Retailers
A document that addresses the concept, customers, and capital for a business
Business Plan
First-hand research like surveys, interviews, and statistical data
Primary Data
A method used to get a product from the manufacturer to the end-users
Distribution Channel
Ashley sells cars. She has $26,000 in cash, $34,000 in inventory, a $4,600 credit card balance, and $7,900 in long term debt. What is Ashley's equity?
$47,000
Equity Formula (assets) - (liabilities)
What is minimal score to pass the ESB exam?
700
A form of protection individuals can implement to protect their intellectual property. Designated for print, music, film, and various other forms of creative licenses.
Copyright
Behavioral
Geographical
Demographic
Psychographic
4 segments of sales data
Businesses that purchase goods in bulk from manufacturers and sell them to retailers.
Wholesalers
Tina sells cookies. What is Tina's ROI?
a. Production cost: $7.65/box of cookies
b. Selling price: $12/boxes of cookies
c. ROI?
57%
$12 (Selling price) - 7.65 (Production cost) = $4.35 (net profit)
$4.35 / $7.65 = .568 * 100 = 57%
2 off-line marketing platforms
TV ads
Flyers
Pamphlets
A one page document discussing key information commonly seen in a business plan.
Lean Canvas
{(marketing expenses) + (sales expenses)} / (# of new customers)
Customers Acquisitions Cost Formula
CAC
A persuasive speech prepared to entice a potential customer to purchase a service or good.
Sales Pitch
Are clothes a fixed or variable cost?
Variable
Which sales channel has open to manufactures but because of digital tools?
Direct to customer
A promise of value that a company makes about their product or service that makes it attractive to customers.
Value Proposition
(# of customers at the end of a period - # of new customers acquired during a period) / (# of customers from the start of the period) * 100
Customer Retention Rates formula
The number of sales and other income in a business for a given period.
Revenue
An investor who provides funding to a business for a stake in the business in return.
Angel investor
Items to think about when calculating start up cost for a business.
legal fees, licenses, permits, insurance, technology, office space, marketing, inventory, and professional services, incorporation fee, business cards