REVIEW

Which three steps are part of the sales process?

• analyzing the market

• closing the deal

• prospecting

• presenting the pitch

Which type of sales channel is someone using if they own and e-commerce website where customers can purchase the jewelry that they make?

• business to business

• retail

• wholesale

• direct to consumer

What is a risk of being an entrepreneur?

• supply shortage

• changing consumer trends

• lack of financial resources

• negative press or media coverage

trade secret licensing must be registered with the government

• true

• false

What is a benefit of being an entrepreneur?

• limitless income potential

• paid sick time and health insurance

• predictable job description

• consistent 40 hour work weeks

The market segment describes what customers think about and value and how they live their lives

• demographic

• psychographic

• geographic

• behavioral

One objective of entrepreneurship is to make a profit

• true

• false

For a franchise opportunity you will receive ongoing support from larger companies.

• true

• false

What is another name for an income statement?

• balance sheet

• profit and loss statement

• assets

• cash flow statement

This market segment describes where customers are located and how they can be reached.

• geographics

• psychographics

• demographics

• behavioral