Hello! I'm taking a test for my business class and I'm having trouble with these questions. If someone could check my answers I would really appreciate it! Thank you!

6. Asking yourself "What can I do to build a loyal customer base?" is an example of
A. creativity.
B. research. (X)
C. multitasking.
D. bottom line.

16. When you first started your new business, you were so excited about the large volume of orders you had. One year later, you find that your orders are less than half of what they were in the beginning. What is the most probably cause of this decrease in order?
A. You've limited yourself to a small number of products.
B. You failed to continue your marketing efforts. (X)
C. Your price is too high for the market.
D. You have too much competition.

18. The number one reason for the failure of new businesses is
A. poor management.(X)
B. insufficient cash.
C. taking too many risks.
D. poor marketing.

19. A great business idea is
A. the beginning of a great business.
B. an idea that no one else has ever thought of. (X)
C. all you need to succeed.
D. something that comes along once in a lifetime.

I agree with your answers.

Perfect!

18 is B. I took this test! ;)

Sure! I can check your answers and provide explanations for each question.

6. The correct answer is B. research.

To arrive at this answer, you need to understand the question and the different options provided. The question asks what asking yourself "What can I do to build a loyal customer base?" is an example of. In this case, asking yourself this question reflects a process of gathering information and gaining insights into your customer base, which is a form of research. Therefore, the correct answer is research.

16. The correct answer is B. You failed to continue your marketing efforts.

To determine the cause of the decrease in orders, you need to analyze the situation and consider the options provided. The fact that your orders are less than half of what they were initially suggests that something has changed and is no longer attracting customers, resulting in a decrease in orders. Out of the options, the most probable cause is that you failed to continue your marketing efforts. By not actively promoting your business or products, you may have lost visibility and relevance in the market, leading to a decline in orders.

18. The correct answer is A. poor management.

To determine the number one reason for the failure of new businesses, you need to consider the options and think about common factors that contribute to failures. Poor management is often cited as the primary reason for business failure. This includes ineffective decision making, lack of planning, inadequate leadership, or mismanagement of resources. While other factors can certainly contribute to business failure, poor management is generally identified as the main cause.

19. The correct answer is B. an idea that no one else has ever thought of.

To determine what constitutes a great business idea, you need to carefully consider the options and think about what makes an idea stand out. While a great business idea is certainly the beginning of a great business, it does not guarantee success on its own. A great business idea is typically one that presents a unique or innovative solution to a problem or addresses a gap in the market. It is not something that comes along once in a lifetime but rather a result of observation, creativity, and recognizing opportunities. Therefore, the correct answer is an idea that no one else has ever thought of.