Question 1

Two disadvantages of collecting primary data are the costs and time involved.

Accepted Answer

True

Answer

False

Question 2

It is difficult for small businesses to compete with large retailers because

Accepted Answer

all of these

Answer

large companies have more resources to devote to advertising

Answer

large retailers are able to order and stock products in larger quantities

Answer

large retail chains don't rely on a single product line

Question 3

Which of the following is not a step involved when preparing a competitive analysis

Accepted Answer

create a customer profile

Answer

list all competing businesses in your immediate area

Answer

summarize products and services offered by competitors

Answer

list your competitors' strengths and weaknesses

Question 4

Businesses do not need to identify their target market in order to succeed

Accepted Answer

False

Answer

True

Question 5

Which of the following is not a good way to get customer feedback?

Accepted Answer

check with your competitors

Answer

call customers the day after they make a purchase

Answer

have customers complete a survey after shopping with you

Answer

use a customer feedback box

Question 6

Which of the following is a strategy for maintaining customer loyalty?

Accepted Answer

offering superior service

Answer

keeping standard business hours

Answer

none of these

Answer

adhering to strict return policies

Question 7

Longer questionnaires are always better because you can collect more information.

Accepted Answer

False

Answer

True

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