Exam 6: Developing Your Customers

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.

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A) the degree of customer or market demand for a specific product
B) the goods or services created to meet a customer or market demand
C) the need a customer has that spurs creation of a specific product
D) the potential profitability and market penetration of a new product

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A) the entrepreneur-intended portion of the total available market for your product or service
B) the portion of the total available market for your product or service that is likely to purchase the product
C) the portion of the total available market that will likely be profitable for your product or service
D) the entire portion of the market that is a potential customer base for your product or service

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A) It includes both supply and demand,and it can be a physical or virtual location.
B) It includes both supply and demand,but cannot be defined by space.
C) It must have both customers and consumers.
D) It must have customers,but not necessarily consumers,and it is defined by the presence of demand but not necessarily supply.

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A) both SAM and SOM
B) TAM
C) SAM
D) SOM

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A) TAM
B) TAM,SAM,and SOM
C) SAM and SOM
D) TAM and SAM

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A) The consumer pays for the product or service.
B) The consumer uses the product or service.
C) The consumer is a repeat purchaser of the product or service.
D) The consumer stays with a particular company for purchase of the product or service.

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A) only when (if) you're considering an IPO
B) late stages
C) middle stages
D) early stages

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A) Allow them to purchase and review your product.
B) Consider that they might influence your product in the social sphere.
C) Spend resources trying to convert them into customers.
D) Engage with them.

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

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A) describing the development of an end user profile for a new technology
B) describing the product life of a new technology,from conception to removal or replacement in the marketplace
C) describing the process of how to develop a new technology for market
D) describing how different groups of people accept new innovations over time

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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.

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A) Make optimistic sales estimates in order to attract potential investors.
B) Keep your product launch limited to a relatively small and manageable geographic area.
C) Determine product price point without relying on comparisons to similar products already on the market.
D) Be quite conservative in initial sales and profit estimates.

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A) the shared customer journey map
B) the need to prove the widespread appeal of your product or service
C) the need to show you have a group of ready customers who want your product or service
D) the need to begin with the "early majority" customer segment

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