Bus & Marketing Basics, Operations

What is a sole proprietorship?

• A business owned by multiple individuals

• A business owned by one individual

• A business owned by the government

• A business owned by shareholders

Which of the following is a characteristic of a partnership?

• Unlimited liability for the owners

• Limited liability for the owners

• Owned by shareholders

• Governed by the state

What is a corporation?

• A business owned by one individual

• A business owned by multiple individuals

• A business owned by the government

• A legal entity owned by shareholders

Which of the following is true about a cooperative?

• It is owned by shareholders

• It has limited liability for owners

• It is owned and operated for the benefit of its members

• It is a business owned by the government

A franchise is a type of business ownership characterized by:

• Government ownership

• Ownership by multiple individuals

• Licensing of the business name and operations from a parent company

• Unlimited liability for the owners

What is channel management?

• Managing social media channels

• Managing distribution channels

• Managing communication channels

• Managing financial channels

Which of the following is part of channel management?

• Sales only

• Distribution only

• Sales and distribution

• Marketing only

How does channel management relate to customer service?

• They are unrelated

• Channel management is a subset of customer service

• Customer service is a subset of channel management

• They are mutually exclusive

What is the nature of channels of distribution?

• They involve only physical stores

• They involve the movement of goods from producers to consumers

• They involve only online stores

• They involve only wholesalers

Which of the following statements about channel management is true?

• It involves only the distribution of products

• It doesn't involve customer service

• It encompasses all activities involved in delivering a product to the consumer

• It's irrelevant in today's business environment