How do you plan to increase the prices of your goods and services?

• Increase the price of products when your business is short of profit.

• Increase the price of your goods based on the request of your customers.

• Increase the amount of your product higher than competitors' prices.

• Increase the prices of your products or services with reasonable standards.

Which of the following best describes the use of empathy with her clients?

• Listening to their complaints and offering a standard response to resolve their issues.

• Asking them to elaborate on their issues repeatedly to gather more information before offering any assistance.

• Putting yourself in their shoes to genuinely understand their feelings and perspectives and responding in a way that addresses their specific concerns.

• Providing a solution to their problem without considering their emotional state or personal circumstances.

Which of the following best describes being aware of customers’ desires?

• Assuming you know what customers want based on general market trends.

• Relying solely on sales data to infer customer desires without directly asking for their input.

• Observing competitors' products and mimicking their features to meet perceived customer demands.

• Regularly conducting surveys and gathering feedback to understand specific customer preferences and tailoring your products to meet those needs.

Which of the following is NOT an example of cross-selling or up-selling?

• Offering a customer a complementary accessory when they purchase a new smartphone.

• Providing a discount on a future purchase as a reward for their loyalty.

• Suggesting a more advanced model of a product with additional features to a customer who is interested in a basic version.

• Recommending a new service package to a current customer who has expressed satisfaction with their existing service.

In selecting a business idea, this criterion involves being highly attentive to the materials and skilled individuals available in the area where you plan to establish your business. Which criterion is this?

• Examining the available resources.

• Producing products and services that are unique.

• Understanding the needs and demands of people.

• Being well-informed on the latest news and trend.

Which of the following methods is least effective for generating innovative business ideas?

• Emulating the products and services offered by competitors

• Reviewing the resources you currently have

• Staying informed about the latest news and trends

• Understanding the needs and preferences of potential customers

Which strategy is most likely to persuade a new entrepreneur to invest in your products and services?

• Creating a product identical to that of your competitors

• Developing products and services that are currently popular

• Offering products and services that are distinct and original

• Mimicking the services and strategies of leading brands

Veronica is launching a new line of eco-friendly kitchen gadgets under the brand name "EcoEssentials." To ensure her products stand out and attract the most customers, which characteristic should Veronica focus on?

• Creating gadgets similar to those offered by other eco-friendly brands

• Designing gadgets that are visually appealing

• Offering gadgets that excel in taste

• Providing a strong service promise after purchase

When establishing a brand, which factor is typically given the highest priority by a company?

• Competitors         

• Customers

• Manufacturer

• New investors

Which of the following statements about branding is incorrect?

• It significantly impacts the company.

• It clarifies what your business offers.

• It is a name to identify the product and services.

• It creates a memorable impression for customers.