Chapter 15 - Small Business

Which of the following is NOT a component of a business's brand?

Brand lifespan

Your friend Eduardo asks your advice about distributing the shoes his company makes. He would like to reduce the risk he faces in marketing his products. Which of the following types of intermediaries would best help him do that?

Merchant middlemen

is the registered, exclusive right of an inventor to make, use, or sell an invention

Patent

Marcy is concerned about whether her company should add motorcycle accessories to her already established car accessory products. She is thinking about which aspect of her product strategy?

Product mix

The primary purpose of trademarks and service marks is to:

Represent the way people identify your business.

Which of the following statements is most accurate?

Small entrepreneurial firms produce twice as many incremental innovations as large firms and ninety-five percent of radical innovations

describes a firm's position when it uses its unique capabilities and resources to outperform its competitors over time.

Sustainable competitive advantage

A growth trap is best described as:

The phenomenon wherein a business's need for cash grows faster than its profits.