Fundamentals of Business Intelligence (FBI) Practice Exam

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Prepare for the Fundamentals of Business Intelligence Exam. Use flashcards and multiple choice questions with hints and explanations to enhance your study. Gear up for success!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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When businesses honor warranties and charge fair prices, which stakeholder group are they primarily supporting?

Customers
Employees
Investors
Suppliers

The correct answer is: Customers

When businesses honor warranties and charge fair prices, they are primarily supporting customers. This is because honoring warranties demonstrates a commitment to product quality and customer satisfaction, which builds trust and loyalty. By offering fair prices, businesses ensure that customers feel they are receiving value for their money, further enhancing the customer experience. In this context, a focus on customers aligns with the fundamental principles of business intelligence, which emphasize understanding and meeting customer needs to drive loyalty and repeat business. Providing good service and support can also lead to positive word-of-mouth and reputation, which are critical for long-term success. While the other stakeholder groups—employees, investors, and suppliers—are important for a business's overall functioning and success, the act of honoring warranties and maintaining fair pricing directly impacts customer satisfaction and trust, making them the primary group being supported in this scenario.