What is a target market?

A specific group of potential customers that a business aims to capture

Business insurance covers lost income and operating expenses if business operations are disrupted?

Business Interruption Insurance

When evaluating a product, why is it crucial to review customer's reviews and ratings?

They provide insights from other users' experiences

What is the difference between a customer and a consumer?

Consumer is the end user of a prod. or serv., a customer is the purchaser.

When considering creditworthiness, what does "character" mean?

The business's reputation and track record for repaying debts

Which agency ensures the safety and efficiency of food, drug, and medical device?

Food and Drug Administration (FDA)

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Unit 6 Business & Marketing Concepts

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Questions 10

Answers

1
Which one is not a communication tool?
Email
Slack
Zoom
Google Drive
2
What is a target market?
A specific group of potential customers that a business aims to capture
A collection of marketing strategies
A group of businesses that sell similar products
A list of competitors in the market
3
Comparing relevant features to choose a product that meets specific needs?
Warranty and Support
Features and Benefits
Brand Reputation
Cost vs. Quality
4
Business insurance covers lost income and operating expenses if business operations are disrupted?
Business Interruption Insurance
General Liability Insurance
Product Liability Insurance
Professional Liability Insurance
5
When evaluating a product, why is it crucial to review customer's reviews and ratings?
They reduce the need for warranties
They promote the brand's reputation
They guarantee the product is the cheapes.
They provide insights from other users' experiences
6
Name, term, design, symbol, or other feature that identifies 1 seller's G or S as distinct from those of other sellers
a business plan
Regional brand
A brand
marketing strategy
7
What is the difference between a customer and a consumer?
A consumer and a customer are the same.
Consumer is the end user of a prod. or serv., a customer is the purchaser.
Consumer is the purchaser of the product, while a customer is the end user.
A consumer is always a child, while a customer is always an adult.
8
When considering creditworthiness, what does "character" mean?
The business's ability to repay the loan
Assets that can secure the loan
The amount of money the business has invested in itself
The business's reputation and track record for repaying debts
9
Which agency ensures the safety and efficiency of food, drug, and medical device?
Better Business Bureau (B)B
Federal Trade Cinnussuib (FTC)
Food and Drug Administration (FDA)
Consumer Financial Protection Bureau (CFPB)
10
When we reduce waste and pollution, we are fulfilling our environmental duties of the business to its community.
True
False

Unit 6 Business & Marketing Concepts Flashcards | StudBud