Business Development MCQs (Chapterwise Multiple Choice Questions)

What is a cold call?

A fake phone number

A call made without an introduction or appointment

A call that does not lead to a sale

A call that leads to a negative reaction

Answer & Explanation

Correct Answer: A call made without an introduction or appointment

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True or false? Maintaining a relationship with a customer after a sale is worthless.

False

TRUE

Answer & Explanation

Correct Answer: False

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What is one of the main differences between an early, project based, business development unit and a matured, institutionalized unit?

The project based unit has well defined processes in place to improve performance across the company while the matured unit does not

The institutionalized unit has strongly defined BD roles and processes while the project based unit typically does not

The project based unit has fully developed processes for tracking and monitoring performance levels while the success in the matured unit is solely based on individual heroism

Answer & Explanation

Correct Answer: The institutionalized unit has strongly defined BD roles and processes while the project based unit typically does not

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What does market share mean?

Ownership stake in a public company

Opportunities to share in greater market profits

the portion of a market controlled by a particular company or product.

Answer & Explanation

Correct Answer: the portion of a market controlled by a particular company or product.

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In the short run, the firm’s network is _ while in the long run it is .

Fixed, variable

Company preference; variable

Transportation rate; fixed

All of these

Answer & Explanation

Correct Answer: Fixed, variable

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True or False The definition of a product life cycle is: the time and maturation of a product between it's initial introduction to the market and eventual removal.

True

False

Answer & Explanation

Correct Answer: True

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After you've gathered data, what is the second step in customer segmentation?

Interview consumers

Create segments

Analysis

Validate those segments

Answer & Explanation

Correct Answer: Analysis

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True or false? Total closed deals is always the best measure of performance.

TRUE

False

Answer & Explanation

Correct Answer: False

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What is customer segmentation?

A way to sell multiple products which will appeal to a particular customer's varied interests.

A means of identifying and organizing current and future customers.

Segmenting a customer into smaller pieces.

A customer loyalty plan based on customer demographics.

Answer & Explanation

Correct Answer: A means of identifying and organizing current and future customers.

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True or False: Narrowing the target for potential clients helps because it: Concentrates sales efforts to a selective group that is most likely to be most profitable

True

False

Answer & Explanation

Correct Answer: True

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Business Development Quick Quiz

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Start Practicing with our MCQs given below.

Business Development MCQ

Business Development Quick Quiz

What is a cold call?

True or false? Maintaining a relationship with a customer after a sale is worthless.

What is one of the main differences between an early, project based, business development unit and a matured, institutionalized unit?

What does market share mean?

In the short run, the firm’s network is _________ while in the long run it is ________.

True or False The definition of a product life cycle is: the time and maturation of a product between it's initial introduction to the market and eventual removal.

After you've gathered data, what is the second step in customer segmentation?

True or false? Total closed deals is always the best measure of performance.

What is customer segmentation?

True or False: Narrowing the target for potential clients helps because it: Concentrates sales efforts to a selective group that is most likely to be most profitable

In the short run, the firm’s network is _ while in the long run it is .