Question 1

What are website analytics least likely to be able to provide?

Accepted Answer

A) customer location 
B) your customer's overall impression of your product 
C) how often your customer engages with the product online 
D) problems with the website that frustrate customers 
A) customer location 
B) your customer's overall impression of your product 
C) how often your customer engages with the product online 
D) problems with the website that frustrate customers

Question 2

How does the targeting process in entrepreneurship differ from the targeting process in traditional marketing?

Accepted Answer

A) Entrepreneurs begin the process by identifying a viable customer segment. 
B) Entrepreneurs begin the process with the idea for a new product. 
C) Entrepreneurs begin the process by developing an end user profile. 
D) Entrepreneurs often skip developing the psychological profile part of their potential customer base altogether. 
A) Entrepreneurs begin the process by identifying a viable customer segment. 
B) Entrepreneurs begin the process with the idea for a new product. 
C) Entrepreneurs begin the process by developing an end user profile. 
D) Entrepreneurs often skip developing the psychological profile part of their potential customer base altogether.

Question 3

Which of the following is true of your product if it has arrived on "main street?"

Accepted Answer

A) It has a strong market position. 
B) It is likely to generate a "tornado." 
C) It is best to ease off marketing and distribution efforts. 
D) It has achieved a high demand among the early majority,but still lacks proven success in the broader market. 
A) It has a strong market position. 
B) It is likely to generate a "tornado." 
C) It is best to ease off marketing and distribution efforts. 
D) It has achieved a high demand among the early majority,but still lacks proven success in the broader market.

Question 4

Which of the following is one of the four main elements that define a market?

Accepted Answer

A) a set of actual or potential customers who reference each other when making buying decisions 
B) a business plan that encompasses an evaluation of the competition 
C) a set of survey data from potential and existing customers 
D) a brainstorming session that identifies potential customers,no matter how unlikely 
A) a set of actual or potential customers who reference each other when making buying decisions 
B) a business plan that encompasses an evaluation of the competition 
C) a set of survey data from potential and existing customers 
D) a brainstorming session that identifies potential customers,no matter how unlikely

Question 5

The act of calculating market size is a vital step for any startup.

Accepted Answer

A) True 
 B)False

Question 6

What would the demonstration of a launch market communicate to potential investors?

Accepted Answer

A) You have empathy for your customers' experience with the product or service. 
B) You have identified early adopters who will also be influencers for future market segments. 
C) You have a long-term profitability plan for your product or service. 
D) You have a customer base who will buy your product or service as soon as it goes to market. 
A) You have empathy for your customers' experience with the product or service. 
B) You have identified early adopters who will also be influencers for future market segments. 
C) You have a long-term profitability plan for your product or service. 
D) You have a customer base who will buy your product or service as soon as it goes to market.

Question 7

Janelle is planning to release a new brand of mini-tablet into the technology market.Based on the technology adoption life cycle,explain how innovators,early adopters,and the early majority will differ from each other in their response to her.

Accepted Answer

If she has marketed her product correctl

Question 8

Customers can be divided into different segments if you anticipate the same level of profitability from them.

Accepted Answer

A) True 
 B)False

Question 9

Buyer personas provide the entrepreneur with more behavioral information about potential customers than psychographics.

Accepted Answer

A) True 
 B)False

Question 10

When defining customer segments,you should ask about demographics,which includes ______.

Accepted Answer

A) what they're willing to pay for your product 
B) education level 
C) what competitor products they purchase 
D) how often they shop online 
A) what they're willing to pay for your product 
B) education level 
C) what competitor products they purchase 
D) how often they shop online

Question 11

Which of the following is the most challenging aspect of identifying and developing a new product or service for the market?

Accepted Answer

A) determining that there is a large enough market for the product 
B) identifying the market opportunity 
C) deciding on what the new product or service will be 
D) doing research on potential competitors for the new product or service 
A) determining that there is a large enough market for the product 
B) identifying the market opportunity 
C) deciding on what the new product or service will be 
D) doing research on potential competitors for the new product or service

Question 12

Which of the following is likely to be an insight derived from the development of a buyer persona for a specific product?

Accepted Answer

A) a predicted lifespan for the product in this particular market 
B) attitudes that turn potential buyers off of a product/service 
C) where your customer lives 
D) how your psychographics have worked in reality 
A) a predicted lifespan for the product in this particular market 
B) attitudes that turn potential buyers off of a product/service 
C) where your customer lives 
D) how your psychographics have worked in reality

Question 13

Why is building a buyer persona better than developing research in customer demographics and psychographics?

Accepted Answer

Demographics and psychographics can be h

Question 14

A buyer profile yields more information than a buyer persona.

Accepted Answer

A) True 
 B)False

Question 15

When considering the types of customers,which of the following would best represent a saboteur?

Accepted Answer

A) Tali,who leaves a negative review online for a product. 
B) Anna,who buys the product but doesn't use it. 
C) Gregor,who never buys the product at all. 
D) Horace,who wants to purchase the product but lacks the resources to do so. 
A) Tali,who leaves a negative review online for a product. 
B) Anna,who buys the product but doesn't use it. 
C) Gregor,who never buys the product at all. 
D) Horace,who wants to purchase the product but lacks the resources to do so.

Question 16

If you have successfully "crossed the chasm," you have captured the early majority customer group.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following best describes the concept of a market?

Accepted Answer

A) the demand that exists among potential customers for a product 
B) the collection of suppliers and their goods and services 
C) the sum total of customers and customer demand for a category of product or service 
D) a place where a supply can be sold to those who wish to purchase it 
A) the demand that exists among potential customers for a product 
B) the collection of suppliers and their goods and services 
C) the sum total of customers and customer demand for a category of product or service 
D) a place where a supply can be sold to those who wish to purchase it

Question 18

In the process of developing buying personas for her gourmet cold-press coffee shop,Maria also develops an exclusionary persona.What might that exclusionary persona look like?

Accepted Answer

Student answers will vary.Her exclusiona

Question 19

Keenan is planning to start a catering business and throws an initial party to test out his food and services.He has developed a buyer persona and accumulated an enormous amount of data on his customers,and wonders if it is really necessary to make a customer journey map.What might his customer journey map reveal that the rest of his research could not?

Accepted Answer

A) would the guests attend a second party thrown by his company 
B) how much food was consumed at the party 
C) which foods proved more popular overall among the guests 
D) which guests chose not to attend 
A) would the guests attend a second party thrown by his company 
B) how much food was consumed at the party 
C) which foods proved more popular overall among the guests 
D) which guests chose not to attend

Question 20

Which of the following is true of the customer journey map?

Accepted Answer

A) It charts the company's experience with the customer. 
B) It focuses on buyer characteristics and demographics. 
C) It helps the entrepreneur better exploit customer weaknesses. 
D) It is a visual representation. 
A) It charts the company's experience with the customer. 
B) It focuses on buyer characteristics and demographics. 
C) It helps the entrepreneur better exploit customer weaknesses. 
D) It is a visual representation.

What are website analytics least likely to be able to provide?

How does the targeting process in entrepreneurship differ from the targeting process in traditional marketing?

Which of the following is true of your product if it has arrived on "main street?"

Which of the following is one of the four main elements that define a market?

The act of calculating market size is a vital step for any startup.

What would the demonstration of a launch market communicate to potential investors?

Janelle is planning to release a new brand of mini-tablet into the technology market.Based on the technology adoption life cycle,explain how innovators,early adopters,and the early majority will differ from each other in their response to her.

Customers can be divided into different segments if you anticipate the same level of profitability from them.

Buyer personas provide the entrepreneur with more behavioral information about potential customers than psychographics.

When defining customer segments,you should ask about demographics,which includes ______.

Which of the following is the most challenging aspect of identifying and developing a new product or service for the market?

Which of the following is likely to be an insight derived from the development of a buyer persona for a specific product?

Why is building a buyer persona better than developing research in customer demographics and psychographics?

A buyer profile yields more information than a buyer persona.

When considering the types of customers,which of the following would best represent a saboteur?

If you have successfully "crossed the chasm," you have captured the early majority customer group.

Which of the following best describes the concept of a market?

In the process of developing buying personas for her gourmet cold-press coffee shop,Maria also develops an exclusionary persona.What might that exclusionary persona look like?

Which of the following is true of the customer journey map?

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Planning for Entrepreneurs

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

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Exam 6: Developing Your Customers

What are website analytics least likely to be able to provide?

How does the targeting process in entrepreneurship differ from the targeting process in traditional marketing?

Which of the following is true of your product if it has arrived on "main street?"

Which of the following is one of the four main elements that define a market?

The act of calculating market size is a vital step for any startup.

What would the demonstration of a launch market communicate to potential investors?

Janelle is planning to release a new brand of mini-tablet into the technology market.Based on the technology adoption life cycle,explain how innovators,early adopters,and the early majority will differ from each other in their response to her.

Customers can be divided into different segments if you anticipate the same level of profitability from them.

Buyer personas provide the entrepreneur with more behavioral information about potential customers than psychographics.

When defining customer segments,you should ask about demographics,which includes ______.

Which of the following is the most challenging aspect of identifying and developing a new product or service for the market?

Which of the following is likely to be an insight derived from the development of a buyer persona for a specific product?

Why is building a buyer persona better than developing research in customer demographics and psychographics?

A buyer profile yields more information than a buyer persona.

When considering the types of customers,which of the following would best represent a saboteur?

If you have successfully "crossed the chasm," you have captured the early majority customer group.

Which of the following best describes the concept of a market?

In the process of developing buying personas for her gourmet cold-press coffee shop,Maria also develops an exclusionary persona.What might that exclusionary persona look like?

Which of the following is true of the customer journey map?

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Planning for Entrepreneurs

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters