Business Essentials MCQ

1. Customers' perceptions of a product are called the product's _____.

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2. Brands that are owned by ___________ are called private-label brands.

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3. Brands that meet consumers' initial buying criteria are called the ________ set.

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4. Service contracts are also called ____ warranties.

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5. A(n) _____ provides software and a network that connects businesses within an industry.

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6. ________________ is the money a company generates through the sale of products and services.

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7. A company would most likely finance ________ using short-term sources.

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8. A company with a differentiation strategy focuses on making its products or services ________.

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9. A company using market share pricing has a _____ pricing objective.

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10. A ________ is defined as a network of value-creating activities.

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11. A ________ is a multicultural top team in which all but one member come from the same background.

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12. A ________ is drawn on a financial institution and is payable upon demand.

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13. A ________ is a group of people who would be interested in buying a given product or service.

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14. ________ has the highest cost per contact with each customer.

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15. Customer share is sometimes referred to as _____.

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16. Credit cards are usually based on a(n) ____ account system.

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17. ________ are the most common price promotion.

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18. Employees apply their individual efforts in a ______ to fulfill a common purpose.

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19. ___ is the overall goal of mbo.

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20. A business plan ________.

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21. A(n) ________, in which the highest bidder wins, is the most common form of auction.

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22. In a market with _______________, there are many firms providing differentiated products.

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23. Walmart's practice of using a ________ strategy is designed to promise ultimate value to consumers.

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24. Walmart.com is an example of a ________ retailer.

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25. Backorders ____.

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26. An online b2b transaction uses a(n) _____ network to exchange information on the web.

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