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Questions and Answers
What is important for entrepreneurs to have in order to achieve business success?
What is important for entrepreneurs to have in order to achieve business success?
- A strong marketing plan (correct)
- A stable foundation of corporate clients
- A powerful niche
- A large retail area
What should a business owner do if a customer is unsatisfied with their purchase?
What should a business owner do if a customer is unsatisfied with their purchase?
- Post a response on multiple websites
- Ignore the customer's complaint
- Offer a discount on future purchases (correct)
- Refuse to give a refund
Which of the following best defines market share?
Which of the following best defines market share?
- The amount of profit made by a company
- The total revenue generated by a company
- The number of competitors in a specific market
- The percentage of sales earned by a company over a specific period of time (correct)
What is the goal of a business in terms of market share?
What is the goal of a business in terms of market share?
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Why is it important for businesses to have strategies to stay ahead in the competition?
Why is it important for businesses to have strategies to stay ahead in the competition?
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What does networking involve in the context of businesses with similar goals and interests?
What does networking involve in the context of businesses with similar goals and interests?
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