A Precise ____ Increases the Chances That the Business Concept

question 17

Multiple Choice

A precise ____ increases the chances that the business concept will meet the customers' needs.

• A)customer definition
• B)distribution channel
• C)value proposition
• D)customer benefit
• E)elevator pitch

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Definitions:

Purchase Discounts

Reductions in price given by the seller to the buyer for early payment or for buying in bulk.

Freight-In

The cost associated with transporting goods into a business, usually included in the inventory cost of purchased goods.

Perpetual Inventory System

An accounting method that records inventory transactions in real-time, continuously updating inventory and cost of goods sold.

FOB Shipping Point

A term indicating that the buyer assumes responsibility for the goods and the cost of transportation at the point of departure from the seller's shipping point.