using a strange name for your brand is always preferable to a less strange name.

Question

using a strange name for your brand is always preferable to a less strange name. True False

            One of the principal inventory carrying costs is the cost of interest to pay for the loans used to purchase merchandise. True False

     There are typically 5 forces that put pressure on your pricing decision, and costs of goods and marketing usually put pressure to lower the price. True False

     In a direct to consumer channel of distribution, the price to the consumer is typically higher. True False

     In Just in Time Inventory, you want to have as many suppliers as possible competing for your business, so you can reduce your costs. True False

Fixed and variable costs will both determine when you reach the breakeven point. True False

     Competitive marketing is one of the principal reasons why you have to increase your prices. True False

     Angel Investors are typically wealthy individuals who want to invest at a very early stage of a company. True False

     Angel Investors typically invest millions while Venture Capitalists invest hundreds of thousands. True False

     Price is the only of the 5 Ps that allows you to reduce your expenses. True False

  Your inventory carrying costs include the shrinkage of product, which means how they lose relevancy in the market. True False

            Deciding what the right price of your product or service should be is based more on a range of options than only costs of your product or service. True False

     Consumer dynamics, particularly there willing or ability to purchase, typically force you to reduce prices. True False

            Credit Cards are a form of unsecured debt. True False

     Gillette had the need to use intermediaries to sell in smaller markets. True False

     Dell is a good example of a company that started operations using distributors and then moved to a direct to consumer business model to reduce expenses. True False

     the benefit of using a business incubator is the ability to reduce your start-up expenses while also creating networks of like-minded entrepreneurs. True False

     A majority of businesses will need at least $100,000 to finance their startups. True False

  the hypothetical case that WalMart would decide to open a store next to your small business, your best option and strategy should be to lower prices so you can compete. True False

    while Family and Friends are a frequent source of small business financing, sometimes it is not advisable because of the issues it can create within the family. True False

Carrying Inventory can cost the business in 4 potential ways: obsolescence, holding, shrinkage and ordering. True False

     In the case of Apple Computer, their dual model allows them to sell direct and also via retail stores. True False

     Mortgages are an example of secured debt. True False

   The Marketing Mix consists of 4Ps: Product, Place, Profit and Promotion. True False

the Holy Crap name given to the scaffolding company saved the business. True False

   Secured debt is usually short term debt. True False

     Angel investors wont invest in a company unless it has a proven record. True False

   In the case, "When the Bank Cuts the Cord", Semcken went back to request loan guarantees from his Angel Investors, and was successful. True False

     Angel Investing is a form of Equity financing. True False

   In the case of a product that is subject to elastic demand, the more you increase the prices, the more you will sell. True False

     In a public offering, stock in a company can be purchased by any investor, not just accredited investors. True False

   Debt financing is the process by which you sell a portion of your business to an investor. True False

     An example of inventory holding costs includes warehouse rent. True False

     In the case of Harry’s shaving blades, they were able to charge a premium price to consumers because of their direct to consumer business model. True False

     Venture Capitalists look at these 5 Cs: Capital, Character, Collateral, Capacity and Conditions. True False

     using a strange name for your brand is always preferable to a less strange name. True False

   When you are purchasing inventory, one of the critical steps is to conduct an analysis of the advantages and disadvantages of various suppliers. True False

     Drop shipping is a good business model for those entrepreneurs who do not want to carry inventory. True False

   Credit Cards are the primary form in which small business raise capital.

Explanation / Answer

1. True

2. False. It will increase the price.

3. False. The prices will be lowers as there are less middlemen

4. False. in JIT, you will prefer to do business with selected vendors who you trust and have better relationships and vendors who are logistically closer to your businesses

5. True

6. False. Competitive market reduces price of product

7.True

8. False. Angels investors invest in 100s of thousands while venture capitalist invest in millions

9. False. Promotion is the factor to manage your expenses.

10. True

11.True

12. True

13. True

14. True

15. False. Dell has shifted from Direct sales to channel strategy

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