Question 1

Why,compared with a couple of decades ago,has it become even more important to understand your customer before you try to sell to that customer?

Accepted Answer

A) Competition and diversity of product have increased in most markets. 
B) More customers make buying decisions without the input of the seller. 
C) Analytical tools for forming psychological pictures of customers have improved. 
D) The customer base itself is more diverse.

Question 2

Which of the following best describes the process of market sizing?

Accepted Answer

A) estimating how much of your product or service should be produced or released based on a particular customer base and revenue potential 
B) estimating the number of potential customers and possible revenue or profitability of a product or service 
C) estimating the growth potential for a particular customer base and the future lifespan of the product or service in that market 
D) determining the net value that a customer base is willing to put into your specific product or service

Question 3

The first touchpoint in the visual customer journey map is typically the first time the customer uses or directly encounters the product.

Accepted Answer

A) True 
 B)False

Question 4

Direct customer interviews are a challenging but effective way to verify the findings of a customer journey map.

Accepted Answer

A) True 
 B)False

Question 5

Describe the three broad ways in which an entrepreneur can verify the findings of the customer mapping process.

Accepted Answer

The answer of Describe the three broad ways in which...

Question 6

What is the best strategy for crossing the "chasm"?

Accepted Answer

A) Avoid implementing marketing strategies beyond what it takes to win the innovators,and then let word of mouth carry the product further. 
B) Seek to make the product or service on offer as similar as possible to current market-leading products. 
C) Focus resources on multiple market segments simultaneously in order to improve statistical chances of finding a purchase for the product. 
D) Focus limited resources on winning over a single,primary market,and then move on to capture larger markets.

Question 7

A poorly executed bowling strategy is likely to cause your product to end up in the tornado.

Accepted Answer

A) True 
 B)False

Question 8

It is wise for an entrepreneur to try to win over the late majority customer group.

Accepted Answer

A) True 
 B)False

Question 9

A bottom-up analysis aims will generate a more accurate predicted total sales figure than will a top-down analysis.

Accepted Answer

A) True 
 B)False

Question 10

In which of the following ways does a bottom-up analysis differ from a top-down analysis?

Accepted Answer

A) It produces more accurate results. 
B) It is a simpler calculation. 
C) It offers less information on potential sales but more on customer demographics and numbers. 
D) It generates segmented potential sales,but not a total sales figure.

Question 11

Creating exclusionary personas helps the entrepreneur better understand both who their customers are and who they are not.

Accepted Answer

A) True 
 B)False

Question 12

Before creating an end-user profile,you must ______.

Accepted Answer

A) define a target customer group 
B) carry out the customer segmentation process 
C) build a buyer persona 
D) conduct market sizing

Question 13

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

Question 14

What is the problem with relying on demographics when creating an end user profile?

Accepted Answer

A) They emphasize behavior over purchasing capacity. 
B) They tend to generate too narrow a customer base. 
C) They offer no help in identifying target end user. 
D) They don't tell you much about attitudes or likes and dislikes.

Question 15

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.

Question 16

Allan is trying to create an end user profile for his roofing business,and specifically he is working on the biggest fears and motivators aspect of the profile.How should he go about it,and what might parts of his conclusion look like?

Accepted Answer

The answer of Allan is trying to create an end...

Question 17

The age of social media tools has greatly diminished the importance of sitting down and talking with your customers.

Accepted Answer

A) True 
 B)False

Question 18

Journey mapping is key to developing empathy for your customers.

Accepted Answer

A) True 
 B)False

Question 19

In the marketing and early growth of Facebook,what does Harvard represent?

Accepted Answer

A) the beachhead market 
B) the early majority group 
C) demand creation through direct sales 
D) early adopters

Question 20

Natalia has developed a new kind of roofing tile that is more expensive than most on the market but that has superior storm-survival properties.She wants to develop a buyer profile before going to market.What his her best first step toward accomplishing this?

Accepted Answer

A) doing demographic research to develop info on those who have spent on high-end tiles before 
B) talking to local roofers who do the work of installing or replacing tiles 
C) preparing psychographics on potential customers in areas where storms are common 
D) interviewing homeowners in areas where storms are common

Exam 6: Developing Your Customers

Why,compared with a couple of decades ago,has it become even more important to understand your customer before you try to sell to that customer?

Which of the following best describes the process of market sizing?

The first touchpoint in the visual customer journey map is typically the first time the customer uses or directly encounters the product.

Direct customer interviews are a challenging but effective way to verify the findings of a customer journey map.

Describe the three broad ways in which an entrepreneur can verify the findings of the customer mapping process.

What is the best strategy for crossing the "chasm"?

A poorly executed bowling strategy is likely to cause your product to end up in the tornado.

It is wise for an entrepreneur to try to win over the late majority customer group.

A bottom-up analysis aims will generate a more accurate predicted total sales figure than will a top-down analysis.

In which of the following ways does a bottom-up analysis differ from a top-down analysis?

Creating exclusionary personas helps the entrepreneur better understand both who their customers are and who they are not.

Before creating an end-user profile,you must ______.

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

What is the problem with relying on demographics when creating an end user profile?

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

Allan is trying to create an end user profile for his roofing business,and specifically he is working on the biggest fears and motivators aspect of the profile.How should he go about it,and what might parts of his conclusion look like?

The age of social media tools has greatly diminished the importance of sitting down and talking with your customers.

Journey mapping is key to developing empathy for your customers.

In the marketing and early growth of Facebook,what does Harvard represent?

Natalia has developed a new kind of roofing tile that is more expensive than most on the market but that has superior storm-survival properties.She wants to develop a buyer profile before going to market.What his her best first step toward accomplishing this?