What Options Must a Business Owner Decide Upon When Considering

question 26

Multiple Choice

What options must a business owner decide upon when considering property insurance?

• A) getting coverage for replacement value or actual cash value
• B) getting coverage for the various forms of perils that are insurable by law
• C) negotiating a non cancellation or severability clause
• D) negotiating to remove the exclusion clauses that fall within the intent of the policy

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Definitions:

Personal Selling

A direct marketing approach where sales representatives interact one-on-one with potential customers to pitch products or services.

Promotional Mix

The combination of marketing tools and strategies a business uses to communicate its products or services to its target market, such as advertising, sales promotion, public relations, and personal selling.

Strengths/Advantages

The positive attributes or competitive edges that a company or product possesses, contributing to its success and differentiation in the market.

Weaknesses/Disadvantages

The attributes or conditions that place an entity or individual at a disadvantage relative to others or impede achieving objectives.