What are the 3 elements required to have a trade secret?
1.Subject to reasonable efforts to maintain its secrecy
2. Others cannot legitimately obtain
... [Show More] the information
3. A unique logo or brand names
4.Information has economic value not generally known
5. Original work must be in a tangible form
Must be a service - correct answer Subject to reasonable efforts to maintain its secrecy
Others cannot legitimately obtain the information
Information has economic value not generally known
What is a target market? - correct answer Customers to whom a company wants to sell its products and services.
examples of an offline marketing platform - correct answer Flyers and Pamphlets
TV Ads
3 segments in a marketing plan - correct answer Demographic
Behavioral
Geographic
Which Sales Channel has been opened to manufacturers because of digital tools? - correct answer Direct-to-Consumer
which two ways can customer service and support affect sales? - correct answer More Sales through Customer Evangelists
Increased Sales through Responsiveness and Personalization
what 3 statements that define a market/ fit hypothesis? - correct answer A fit exists when people need your product rather than just seeing a potential benefit of using it.
Product/market fit exists when you have the right solution to a problem worth solving.
When users love your product so much they tell other people to use it.
what is an effective way to measure your teaching performance during an online course? - correct answer Conduct onscreen pop-up quizzes
what is one of the first steps you must do before creating a product prototype? - correct answer Identify materials
three things you will need to consider regarding the mass production of your razors. - correct answer Creating your prototype to demonstrate the product's function to potential customers.
Finding a manufacturer.
Sourcing materials needed for the components of the products.
what is your equity in the business?
liabilities 6000
assets 17000 - correct answer 11000
which expense is a fixed cost - correct answer Property lease for the office
what is calculated in start up costs of a business. - correct answer Permits, licenses, and incorporation fees
Business cards
Benefits of equity funding - correct answer Can be used to raise working capital.
Investors do not get paid if the business does not make a profit. [Show Less]