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Raising money for a start-up is _______.
a balancing act
Many entrepreneurs launch their firms with the intention of funding all their needs ____.
internally
Many entrepreneurs go about the task of raising capital haphazardly because they lack experience in this area and because they ______.
don't know much about their choices
Entrepreneurs need to have as full an understanding as possible of the _____ with regard to raising money.
alternatives that are available
A company's _____ is the rate at which it is spending its capital until it reaches profitability.
burn rate
It typically takes between ______ to develop an electronic game.
2 and 4 years
There are three reasons that most entrepreneurial ventures need to raise money during their early life: cash flow challenges, _____, and lengthy product development cycles.
capital investments
In the prescription drug industry, the path from the research lab to the patient takes an average of _____ years.
10
In some industries, firms need to raise money to pay the up-front costs of _______.
lengthy product development cycles
Because many founders do not have a substantial amount of cash to put into their ventures, it is often ______ that make[s] up the difference.
sweat equity
_____ is the term attached to the general philosophy of minimizing start-up expenses by aggressively pursuing cost-cutting techniques and money-saving tactics.
Bootstrapping
According to Fundable, the average amount invested out of an entrepreneur's friends and family is $ _____.
23,000
Which of the following is NOT a bootstrapping method?
Buying independently of other businesses.
According to Fundable, on average, _______ percent of start-ups are funded by friends and family.
38
A[n] _____ is an occurrence that converts some or all of a company's stock into cash.
liquidity event
Which of the following is NOT a topic you should speak about in a 60-second elevator pitch?
How quickly you will be profitable.
Once a start-up's financial needs exceed what personal funds, friends and family, and bootstrapping can provide, _________ and ________ are the two most common sources of funds.
debt; equity
Equity financing means exchanging partial ownership of a firm, usually in the form of ____, in return for funding.
stock
What is the typical time horizon for equity investors to get their money back?
3-5 years
The three most common liquidity events for a new venture are when ______, finds a buyer, or merges with another company.
it goes public
A[n] ______ is the first sale of stock by a firm to the public.
IPO
The ______ process refers to investigating the merits of a potential venture and verifying the key claims made in the business plan.
due diligence
Angel investors typically invest in companies that have the potential to grow _____ percent to ______ percent per year before they are acquired or go public.
30; 40
The venture capitalists who manage the venture fund are called _____.
general partners
If the Matrix venture capital firm raised a $100 million fund and then the fund grew to $500 million and the carry was 20 percent, the carry amount would be $_____ million.
80 [total- inital x %]
Investments made very early in a venture's life to fund the development of a prototype and feasibility analysis are called _______ money.
seed
Anthurium Florals borrowed $100,000 from a bank that had to be paid back at $10,000 per month with a 6 percent interest. This was a ______.
single-purpose loan [a type of start-up loan]
Anthurium Florals needed cash and so it sold its $50,000 in accounts receivable to Omega Financing at a 20 percent discount. The financial transaction that Anthurium Florals did is called _____ .
factoring
There are two common types of loans: a single-purpose loan and a[n] ______.
line of credit
In a _____, the lender provides a business a lump sum of money in exchange for a share of future sales that covers the payment amount plus fees.
merchant cash advance
Vendor credit is also known as _____.
trade credit
The standard terms for The Spice Market, a retailer of a variety of spices, is to order products from vendors that are shipped on net 30 terms. This means The Spice Market is getting _____.
vendor credit
_____ is the practice of funding a project or new venture by raising monetary contributions from a large number of people, typically via the Internet.
Crowdfunding
There are two types of crowdfunding sites: _____ and equity-based crowdfunding.
rewards-based
The major advantage of _____ is that it enables a company to acquire the use of assets with very little or no down payment and no loss of ownership.
leasing
The SBIR program is a competitive grant program that provides over $____ per year to small businesses for early-stage and developmental projects.
2.5 billion
Historically, less than ___ percent of Phase I SBIR proposals are funded.
15
Studying the industry in which the firm wants to compete and determining the different target markets in that industry is called ______.
market segmentation
Benefits sought is a _____ variable in market segmentation.
behavioral
In market segmentation, ____ is an example of a psychographic variable.
lifestyle
SheCode in Chicago, Illinois targets serious female high school students with an A in sophomore math who aspire to earn a living writing computer code. SheCode is going after a[n] ____ market.
niche
Which of
the following is NOT a requirement for successful market segmentation?
A. Differences within the segment should be small compared with differences across segments.
B. The segment should be large enough for the firm to earn profits.
C. Homogeneity of needs and wants appears between the segments.
D. The segments should be distinct enough so that their members can be easily identified.
E. It should be possible to determine the size of the segment.
C. Homogeneity of needs and wants appears between the segments.
"Between love and madness lies Obsession" is an example of a [an] ______.
tagline
Which of the following statements about a brand is NOT true?
A. A brand presents a firm's credentials.
B. A brand is a firm's guarantee of a level of performance.
C. A brand is a promise to serve shareholders' interests.
D. A brand describes a company's future.
E. A brand expresses a firm's reputation.
C. A brand is a promise to serve shareholders' interests.
Which of the following is NOT a way people think about the meaning of a brand?
A. A brand is a promise to serve stakeholders' interests.
B. A brand presents a firm's credentials.
C. A brand is a firm's guarantee of a level of performance.
D. A brand expresses a firm's reputation.
E. A brand indicates the price of the product
E. A brand indicates the price of the product.
A successful brand can increase the market value of a company by ____ percent to ____ percent.
50; 75
Some companies monitor the integrity of their brands through _______.
brand management
Which of the following is NOT a category that makes up brand equity?
A. Market share
B. Brand associations in addition to quality
C. Perceived quality
D. Brand loyalty
E. Name recognition
A. Market Share
A firm's _____ is the set of controllable, tactical marketing tools that it uses to produce the response it wants in the target market.
marketing mix
Brenda Morales is in the business of sewing garments for special occasions. If her product cost is $50, she adds a 25 percent markup to it to determine her selling price. Brenda's pricing method is called _____.
cost-based
The 4 Ps of marketing are ____, price, promotion, and place.
product
A perfume costs $5 to produce but the company making it sells it for $75. They are using ____ pricing.
value-based
____ is making people aware of a product in hopes of persuading them to buy it.
Advertising
A firm's ____ depicts the steps it goes through to identify prospects and close sales.
sales process
Which is the last step in the seven-step sales process?
Follow up
The first step in the seven-step sales process is ____.
prospecting
Which of the following is NOT a step in the sales process?
A. Pricing the product
B. Qualifying the lead
C. Prospecting
D. Follow-up
E. Make the initial contact
A. Pricing the product
Why do most new ventures need financing or funding?
Cash flow challenges, Capital investments, and lengthy product development cycles
_________, trademarks, copyrights, and trade secrets are the four key forms of intellectual property.
Patents
Intellectual property is any product of human intellect that is ____ but has value in the marketplace.
intangible
An example of intellectual property typically present in a firm's management department would be ____.
Recruiting brochures
Which of following is NOT a common mistake firms make with regard to intellectual property?
A. Not using their intellectual property as part of their overall plan for success.
B. Not using their intellectual property to sell more products.
C. Not legally protecting the intellectual property that needs protecting.
D. Not fully recognizing the value of their intellectual property.
E. Not properly identifying all their intellectual property.
B. Not using their intellectual property to sell more products.
A ____ is a grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for a specific term.
patent
_______ patents are the second most common type of patent.
Design
The average time for approval of a patent in 2016 was ___ months.
25.3 [