Exam 6: Developing Your 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

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If she has marketed her product correctl...

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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.

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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

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Student answers will vary.Her exclusiona...

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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.

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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.

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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

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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

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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

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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.

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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.

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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

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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

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