ESB VOCABULARY

Acquisition costs The cost incurred by a business in relation to the efforts involved in acquiring a new customer. Customer Acquisition Cost (CAC) The total cost of acquiring a new customer. Customer Retention Activities or strategies employed by a business to retain existing customers. Chamber of Commerce A local agency with information on participating local businesses. Demographics Statistical data (i.e., education, employment, income) that refers to particular groups within a popul...

_______ is measured by how well the product or service successfully serves its users' purpose. Quality What are two examples of direct distribution channels? E-commerce sales and door-to-door sales Indirect distribution channels use _______ to sell their products to the end customers. Middlemen The first stage of the product/market fit is the ________ stage. Idea The second stage of the product/market fit is the ________ stage. prototype The third stage of the product/market fit is the ...

In general, which two characteristics define a "small" business? (Choose two) Fewer then 1,500 employees AND Less than $35.5 million revenue Classify each of the following businesses as either Physical or Digital. Physical: - Bakery in your community - Hair salon that makes appointments online Digital: - Online store that dropships camping gear - Bookstore on Amazon that sells eBooks

Break Even Point the point at which the costs of producing a product equal the revenue made from selling the product Break Even Formula Break Even Point = Fixed Costs/Selling Price-Variable Cost Driving Sales a special effort to sell more of a product or service, for example by increasing advertising Inventory Loan a secured short-term loan to purchase inventory Operating Loan A loan that is intended for short-term financing. This type of loan is often used for cash flow support or to cov...

Acculturation The process of adapting to a new culture. The process of acculturation occurs through several strategies including the following: assimilation & marginalization Assimilation The members of a group are absorbed into a culture and lose characteristics of the first culture. The group is willing or forced to accept the surface and deep culture of the new culture and give up original culture. Marginalization Groups lacking desirable traits are excluded from society. These groups ...

passive voice subject received the action instead of performing it monitoring learning strategy: Krashen hypothesizes that language instruction results in the creation of a mental monitor through which the learner filters spoken and written output. The monitor aids learners in achieving accuracy, but may hinder the development of fluency. The ideal is a balance where the student has opportunities for unrestricted fluency and for using the monitor to "edit" and develop accuracy. BICS-B...