Which of the Following Businesses Is Most Likely to Purchase

question 11

Multiple Choice

Which of the following businesses is most likely to purchase a fidelity bond?

• A) A law office that only receives payments by credit card
• B) A doctor's office that only receives payments through insurance companies
• C) A bank that receives cash and checks
• D) A seller at farmer's markets who operates his or her business alone

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Definitions:

Product Hierarchy

The classification of a company's products into a structured order from basic needs to specific items that satisfy those needs, often represented as a layered pyramid.

Augmented Product

A product enhanced with additional features, benefits, or related services that distinguish it from core and actual products to create added value.

Customer Loyalty

Refers to the dedication of customers to repeatedly purchase from the same brand, influenced by positive buying experiences and satisfaction.

BCG Growth-Market Share Matrix

A strategic planning tool developed by the Boston Consulting Group, which helps companies analyze their business units or product lines based on relative market share and market growth rate.