First Semester: Final Exam

Refer to the resources and instructions below to prepare for the first semester final exam which will consist of three parts: a 55 point “terms and concepts” multiple choice exam, a 20 point reverse engineering a Business Model Canvas activity, and a 25 point group pitch.

Final Exam Preparation

Team Elevator Pitch

On the day of the final exam, each group will present a 2-3 minute elevator pitch/abbreviated shareback. Grades will be determined based on the rubric linked below:

Business Model Canvas

You will be responsible for knowing and understanding each segment of the business model canvas. Use the image below to test yourself to see if you know it fully.


Click here to create a copy of the document below: First Semester: Final Exam Flashcards

Terms and Concepts

Unit 1

  • Entrepreneurial DNA
    • Builder
    • Opportunist
    • Specialist
    • Innovator
  • Customer Risk
  • Product Risk
  • Market Risk
  • Cost Structure
  • Revenue Stream
  • Channels
  • Customer Relations
  • Key Metrics
  • Unique Value Proposition
  • Direct/Indirect Competitors

Unit 2

  • Customer Segments
  • Customer Personas
  • Early Adopters
  • Users vs. Buyers
  • Problem Interview: Do customers have this problem?
  • Interview Techniques
    • “5 Whys” questioning
    • Listening
    • Engaging like you are having a conversation
    • Tell  story to set the context of what you will discuss
  • Solution Interview: Will customers pay to solve the problem?
  • Product/Service Demos

Unit 3

  • Positioning
  • Positioning Statement
  • Direct Channels
  • Indirect Channels
  • Customer Relationships
  • Marketing Funnel (Get, Keep, Grow)
  • Upsell, Cross-Sell, Next-Sell
  • Marketing Tactics
  • Traditional Marketing
  • Digital Marketing

Unit 4

  • Pricing Strategies
    • Anchor Pricing
    • Value Based
    • Cost Plus
    • Penetration
  • Market Sizing
    • Total Addressable Market (TAM)
    • Serviceable Addressable Market (SAM)
    • Market Share/Share of Market (SOM)
  • Revenue
    • Gross Revenue
    • Operating Revenue
    • Net Revenue
  • Expenses
    • Cost of Goods Sold (COGS)
    • Sales and General Administrative (SG&A)
    • Start up costs
  • Profit
  • Income Statement