Business Development MCQ Quiz! Test

23 Questions | By Zhafirah | Last updated: Mar 22, 2022 | Total Attempts: 1930

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Business Development MCQ Quiz! Test - Quiz

Questions and Answers

1.

The most important criteria in segmenting a business's customers are...
- A.
  
  Demographics
- B.
  
  It depends
- C.
  
  Psychographics
- D.
  
  Buying criteria and buying behaviour
2.

The most important stakeholder(s) responsible for the successful development of a business is/are...
- A.
  
  Owners
- B.
  
  Employees
- C.
  
  A and B
- D.
  
  Neither
3.

“Many people want a car but only a few are able to buy.” This is an example of...
- A.
  
  Want
- B.
  
  Demand
- C.
  
  Need
- D.
  
  Status
4.

Which of the following human needs are shaped by the culture and individual personality?
- A.
  
  Wants
- B.
  
  Demands
- C.
  
  Needs
- D.
  
  Social needs
5.

What is referred to as a want backed by an ability to pay?
- A.
  
  Wants
- B.
  
  Demand
- C.
  
  Needs
- D.
  
  Status
6.

The establishment of certain standards or specifications for a product is called...
- A.
  
  Standardization
- B.
  
  Gradation
- C.
  
  Product Control
- D.
  
  Product Development
7.

Which of the following terms is described as testing before launching product?
- A.
  
  Acid test
- B.
  
  Concept testing
- C.
  
  Market test
- D.
  
  Test marketing
8.

What is the basic role of promotion in business?
- A.
  
  Communication
- B.
  
  Information
- C.
  
  Interpretation
- D.
  
  Manipulation
9.

The trade of value between two parties shows...
- A.
  
  Transaction
- B.
  
  Commission
- C.
  
  Need
- D.
  
  Want
10.

The aim of marketing products and services is to....
- A.
  
  Produce
- B.
  
  Make profit
- C.
  
  Satisfy customer needs
- D.
  
  Sell products
11.

Which of the following functions is not one that supports BD on every deal?
- A.
  
  Legal
- B.
  
  Marketing
- C.
  
  Finance
- D.
  
  Technical specialist
12.

What are milestone payments?
- A.
  
  Payments that are contingent on the achievement of certain development or commercialization goals.
- B.
  
  Where one party leaves bags of money at certain milemarkers along the interstate.
- C.
  
  Payments that are based on sales performance.
- D.
  
  Reoccurring payments that happen in predefined intervals.
13.

Which is not usually a core competency of the BD function?
- A.
  
  Opportunity prospecting
- B.
  
  Deal evaluation and closure
- C.
  
  Therapeutic evaluation
- D.
  
  Alliance management
14.

True or false: While products under development and licensing opportunities can come from anywhere within the company, BD takes the first pass at processing/screening them.
- A.
  
  True
- B.
  
  False
15.

Which Sales Stage should a salesperson concentrate on first?
- A.
  
  Negotiate
- B.
  
  Qualify
- C.
  
  Prospect
- D.
  
  Fund
16.

Which is NOT part of a vertical marketing system?
- A.
  
  Customer
- B.
  
  Distributor
- C.
  
  Wholesaler
- D.
  
  Retailer
17.

What is a selling point when talking to a customer in B2B sales?
- A.
  
  It is when a customer purchases a product.
- B.
  
  It is a unique characteristic that differentiates a product.
- C.
  
  It is when your product has the same characteristics as a competitor's.
- D.
  
  It is when you try to sell everything in the catalog.
18.

What is true about large companies when it comes to internet marketing?
- A.
  
  Internet marketing requires a large budget
- B.
  
  Communicating with customers is not essential
- C.
  
  It allows them to communicate with customers
- D.
  
  Marketing should only be done through one channel
19.

Which is NOT an example of a search engine optimization (SEO) platform?
- A.
  
  Facebook
- B.
  
  MCN
- C.
  
  Yahoo
- D.
  
  Google
20.

What does SWOT stand for?
- A.
  
  Strengths, weaknesses, opportunities, threats
- B.
  
  Strengths, weaknesses, opportunities, training
- C.
  
  Strengths, willingness, opportunities, training
- D.
  
  Strengths, weaknesses, origin, timing
21.

Which type of keywords should lawyers start off using for search engine optimization?
- A.
  
  Local keywords
- B.
  
  Global keywords
- C.
  
  Cheap keywords
- D.
  
  Short keywords
22.

What is a click-through rate?
- A.
  
  The number of companies that utilize SEO
- B.
  
  The people that don't visit a website
- C.
  
  The number of people that use a search engine
- D.
  
  The number of people that click on a link or an ad
23.

If you are trying to determine what type of customers may be interested in purchasing products from you, which type of sales strategy would you need to use?
- A.
  
  Be the product expert
- B.
  
  Identify your target market
- C.
  
  Hire teachable people
- D.
  
  Hire smart people