Poll Everywhere Multiple Choice Questions
A/an ______ is a type of investor who uses his or her own money to provide funds to young startup private businesses run by entrepreneurs who are neither friends nor family.
Angel investor
Crowdfunding and crowdsourcing would both be considered which of the following strategies?
Bootstrapping
A company's plan for how it will earn income and generate profits is called the
Revenue model
At a church outing, Kelly learns from one of the participants that he just finished working with a company's exterior construction work and that the company is planning on redoing the landscaping. Kelly uses the opportunity to contact the company
Private information
According to class, what are the three main advantages to networks?
Private information, power, and diverse skill sets
Nour operated a successful massage and health spa in a lucrative resort location. She handled all reservations herself and if a customer called to make an appointment when she wasn't in the spa, she asked her employees to leave her a note.
Process inadequacy
A grocery store offers cans of vegetables at 10 for $10. This is most likely which of the following pricing strategies?
Psychological pricing
Studies show that individuals who are ______ will go out of their way to avoid failure.
Raised to believe failure is unacceptable
What revenue model mixes free basic services with premium or upgraded services?
Freemium
Lonny's founding company is composed of young men with whom he attended college. What term best describes this team?
Homogeneous
When someone states, "I don't have money to start a business," what fact might you tell them to consider?
Most businesses start without any formal investment
.______ is the company's value before it receives outside investment.
Pre-money valuation
Sasha developed a new technology for wireless charging of cellphones and other devices, but she misled her investors about the cost of producing the new chargers and the number of units she could supply.
Deviance
What is the main reason customers are attracted to direct cross-subsidies?
Eliminates or reduces the upfront cost of a product or service
Convertible debt can turn into ______ when money is received from a venture capitalist
Equity
What is characteristic of the investor model of crowdfunders?
Equity is exchange for contribution
Kirby is going to be selling to an IT company that is known for casual work attire. Even though Kirby has just finished a presentation for a different company and is in a sports jacket and tie, he stops off at home to put on a casual shirt and sweater.
Impression management
Failures that provide valuable new knowledge that can help a startup innovate and stride ahead of its competition are best described as ______.
Intentional failures
The razor-and-razor-blade revenue model ______.
Involves offering an item at no or low-cost to encourage the sale of expensive complementary
Mehmet's café sells coffee for only $.50, which is less than it costs, but Mehmet hopes customers will come for the coffee and end up buying sandwiches and pastries. What sort of pricing strategy is Mehmet pursuing?
Loss leader
