Motivated by His Desire to Operate His Own Business, Nick

question 141

Multiple Choice

Motivated by his desire to operate his own business, Nick considers purchasing an existing business. As he carefully weighs this option, he is likely to find that:

• A) very few owners of small businesses have any interest in selling.
• B) his potential for success would greatly improve if he started his own new firm.
• C) the value of an existing business is determined by what the business owns, what it earns, and what makes it unique.
• D) any entrepreneur willing to sell his/her business is experiencing serious financial problems.

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Definitions:

New-product Vitality

The measure of a company's ability to innovate and bring new products to the market successfully.

Explosive Growth

Rapid increase in sales, revenue, or market size, often experienced by companies in a short period.

New-product Strategy Development

The process of creating strategies for the designing, creation, and marketing of new products, focusing on identifying market needs and opportunities.

Strategic Marketing Process

The strategic marketing process involves planning marketing strategies to achieve business objectives, including situation analysis, target market identification, setting marketing goals, strategy formulation, and implementation.