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ESB V.2 EXAM 1 (ANSWERS) 2024 - DISTINCTION GUARANTEED / Complete Verified Latest Version
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ESB V.2 EXAM 1 (ANSWERS) 2024 - DISTINCTION GUARANTEED / Complete Verified Latest Version
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ESB V.2 EXAM 1A DJ wants to analyze market reactions to the new music selections played at his dance last
weekend. He advertises his weekly dances using social media and email.
Which would be the most effective way to gather reactions from those who attend the dance? -
ANS-Surveys
A hair salon acquired 100 new customers last year.
Costs in the marketing and sales areas were the following:
- Marketing costs = $1,000
- Sales costs = $10,000
- Salaries = $96,000
What was the customer acquisition cost? - ANS-$110
A law was passed increasing the minimum wage by 30%. The owner of a small landscaping
business must now pay all of her laborers 30% higher wages.
What is the minimum amount the owner must now charge customers for labor to balance her
increased operational expense.
Note: Disregard associated increases in taxes, such as FICA. - ANS-30%
A photographer wants to do a SWOT Analysis with the characteristics identified.
Setup a SWOT analysis with the characteristics provided about this business by matching the
company characteristics with the appropriate SWOT element.
To answer, drag the company characteristic from that column on the left to the corresponding
SWOT element on the right. - ANS-Strengths: Large gallery of stock photos
Weaknesses: Working alone, no skilled help
Opportunities: Increase in wedding expected as COVID restrictions ease
Threats: COVID pandemic restrictions disallow large family gatherings
Classify the following data as either Primary or Secondary.
, For each business, select Primary or Secondary.
Note: You will receive partial credit for each correct answer. - ANS-Primary:
- A marketing survey you posted on Facebook.
- Information collected from your company focus group.
Secondary:
- Demographic data you obtained from the government.
- Facts you collected from professional journal articles.
Complete the sentence about company roles and responsibilities by selecting the correct option
from each drop-down list.
Note: You will receive partial credit for each correct selection.
An example of _____ compensation is paying field laborers for the amount of fruit they pick.
A _____ employee receives a set amount of pay each month without overtime compensation for
extra hours worked.
Employees most affected by minimum wage laws are compensated _____.
An employee who is paid a percentage of a sale is paid by _____. - ANS-Blank 1: Piece Work
Blank 2: Salary
Blank 3: Hourly
Blank 4: Commission
For each statement about Direst Competition and Indirect Competition, select True or False.
Note: You will receive partial credit for each correct selection. - ANS-True:
- Direct Competition is a company that offers the same thing you offer.
- Indirect Competition is a business whose services are different from yours but satisfy the same
need.
- When your target audience buys a products from a competitor instead of from you, that is
Indirect Competition.
False:
- All companies that sell goods and services are Indirect Competitors.
For each statement about owners of equity in a business, select True or False.
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