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___________ and ____________ are questioning methods that involve contact with respondents.
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Correct Answer:
Surveys, experimentation
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Birchbox's phrase ""the box is monthly, the discoveries are endless"" is an example of a(n) ________.
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Correct Answer:
Tagline
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Techniques used to collect primary data are often classified as ____ and ____ methods.
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Correct Answer:
Observational/questioning
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What is the best definition of a failed business?
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Correct Answer:
The small business is closed for less than the assets.
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How can a small business develop a competitive advantage in a market?
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Correct Answer:
Provide a product or service that customers want and will buy
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New innovations typically are the results of a single inventor coming up with a new idea. How can this be a competitive advantage for a small business?
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Correct Answer:
New products can create new markets.
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Which statement best describes the characteristics of a small business?
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Correct Answer:
Independently owned and operated and less than 100 employees
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Why is the failure rate so high for small businesses?
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Correct Answer:
Owners inaccurately estimate cash flow and capital needs.
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The Small Business Administration was established for what purpose?
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Correct Answer:
Train small business owners on management techniques
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Why is a hiring strategy of “we just need warm bodies” detrimental to small businesses?
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Correct Answer:
The skills and knowledge of your employees make a contribution to your business.
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When businesses use market research to investigate what consumers want and then use that information to develop their product or service, what business paradigm are they employing?
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Correct Answer:
Marketing concept
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Why was the growth of small businesses stagnant in the first half of the twentieth century?
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Correct Answer:
High barriers of entry to industries
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______ is important in producing a variety of solutions to problems faced by small businesses.
Answer
Correct Answer:
Diversity
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When companies develop and implement new products that replace old products, they are utilizing what type of business strategy?