Business Development MCQ Quiz! Test

23 Questions | Total Attempts: 1930

SettingsSettingsSettings
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