Question 1

What is the last step to bridge the industry sector to target market?

Accepted Answer

A)  To understand what a customer does and how they use your product 
B)  To understand the environment in which customers use your product 
C)  To understand the influences impacting your industry 
D)  To understand the competitive arena 
A)  To understand what a customer does and how they use your product 
B)  To understand the environment in which customers use your product 
C)  To understand the influences impacting your industry 
D)  To understand the competitive arena

Question 2

An addressable market ______________.

Accepted Answer

A)  is the size of the industry 
B)  are the companies competing in an industry 
C)  are customers in a market 
D)  is the size, value, and spending of customers within a specific industry 
A)  is the size of the industry 
B)  are the companies competing in an industry 
C)  are customers in a market 
D)  is the size, value, and spending of customers within a specific industry

Question 3

Identifying the unmet needs of customers in a target market allows you to:

Accepted Answer

A)  Determine competitive solutions 
B)  Determine if a market opportunity exists 
C)  Make a distribution decision 
D)  Compile accurate financial information 
A)  Determine competitive solutions 
B)  Determine if a market opportunity exists 
C)  Make a distribution decision 
D)  Compile accurate financial information

Question 4

What is white space?

Accepted Answer

A)  A place where funding is available 
B)  The concept of growing into new customers 
C)  Space on a visual map that reveals a new market opportunity 
D)  The initial concept of your venture 
A)  A place where funding is available 
B)  The concept of growing into new customers 
C)  Space on a visual map that reveals a new market opportunity 
D)  The initial concept of your venture

Question 5

What characterizes an emerging niche market?

Accepted Answer

A)  No customers are willing to try new products 
B)  There are no customers in this niche 
C)  There is no current niche 
D)  No companies are addressing the needs of customers 
A)  No customers are willing to try new products 
B)  There are no customers in this niche 
C)  There is no current niche 
D)  No companies are addressing the needs of customers

Question 6

Innovative customers

Accepted Answer

A)  are cautious about adopting new products, services, or experiences. 
B)  drag out the buying decision process. 
C)  are less cautious about adopting new products, services, or experiences. 
D)  are the same as laggards. 
A)  are cautious about adopting new products, services, or experiences. 
B)  drag out the buying decision process. 
C)  are less cautious about adopting new products, services, or experiences. 
D)  are the same as laggards.

Question 7

In the farming of the future example in the book, who has become the most interesting "persona" as top priority target customer?

Accepted Answer

A)  The Steady Eddy Farmer, who has worked his farm for thirty plus years 
B)  The Up and Comer Farmer, who tends to be younger and a heavy user of technology 
C)  The Sun Downer, who is a part time farmer 
D)  The Livestock Farmer, whose main focus is raising cattle 
A)  The Steady Eddy Farmer, who has worked his farm for thirty plus years 
B)  The Up and Comer Farmer, who tends to be younger and a heavy user of technology 
C)  The Sun Downer, who is a part time farmer 
D)  The Livestock Farmer, whose main focus is raising cattle

What is the last step to bridge the industry sector to target market?

An addressable market ______________.

Identifying the unmet needs of customers in a target market allows you to:

What is white space?

What characterizes an emerging niche market?

Innovative customers

In the farming of the future example in the book, who has become the most interesting "persona" as top priority target customer?

Defining Your Industry Focus and the Type of Business You Want to Start

Defining the Needs of Target Customers

Defining Solutions for Customers

Defining the Business Model for a Venture

Positioning and Branding a Venture in the Marketplace

A Reality Check on the Venture Concept and the Business Model

Financial Sources for Startups and Corporate Ventures

Projecting the Financial Performance and Requirements for the Venture

Organizing the Venture Team

Writing the Business Plan

Making the Pitch

Filters

Exam 2: Defining the Target Customer

What is the last step to bridge the industry sector to target market?

An addressable market ______________.

Identifying the unmet needs of customers in a target market allows you to:

What is white space?

What characterizes an emerging niche market?

Innovative customers

In the farming of the future example in the book, who has become the most interesting "persona" as top priority target customer?

Defining Your Industry Focus and the Type of Business You Want to Start

Defining the Needs of Target Customers

Defining Solutions for Customers

Defining the Business Model for a Venture

Positioning and Branding a Venture in the Marketplace

A Reality Check on the Venture Concept and the Business Model

Financial Sources for Startups and Corporate Ventures

Projecting the Financial Performance and Requirements for the Venture

Organizing the Venture Team

Writing the Business Plan

Making the Pitch

Filters