Developing your Customers in entrepreneurship MCQs
Developing your Customers in entrepreneurship MCQs
These Developing your Customers in entrepreneurship multiple-choice questions and their answers will help you strengthen your grip on the subject of Developing your Customers in entrepreneurship. You can prepare for an upcoming exam or job interview with these 30 Developing your Customers in entrepreneurship MCQs.
So scroll down and start answering.
1: In bottom-up analysis Estimating potential sales using calculations in order to arrive at a total sales figure
A. True
B. False
2: Consumers represent the ideal customers based on information and market research.
A. True
B. False
3: Customers who actually use the
A. product or service
B. Map
C. Both a&b
D. None of these
4: Method that captures customer experience across
A. multiple touchpoints
B. single touchpoint
C. No need touchpoints
D. None of these
5: Decision makers are customers similar to economic buyers who have even more authority to make purchasing decisions as they are positioned higher up in the hierarchy.
A. True
B. False
6: Prospective customers’ desire for the goods and services available are called
A. Demand
B. Economic Buyers
C. End Users
D. Influencers
7: The customers who have the ability to approve large-scale purchases are called
A. Demand
B. Economic Buyers
C. End Users
D. Influencers
8: The type of customers who will use your product. Their feedback will help you refine and tweak the product are called
A. Demand
B. Economic Buyers
C. End Users
D. Influencers
9: Influencers who have the power to influence our . . .
A. purchase decisions
B. Sales decisions
C. Market decisions
D. None of these
10: A place where people can sell goods and services are called?
A. Market
B. Home
C. Park
D. All of these
11: The degree of customer or market demand for a specific product application is known Market Opportunity
A. True
B. False
12: Best definition of market opportunity
A. A method of estimating the number of potential customers and possible revenue or profitability of a product or service.
B. Serviceable available market; the section of the TAM that your product or service intends to target.
C. The degree of customer or market demand for a specific product application.
D. All of above
13: Which method used estimating the number of potential customers and possible revenue or profitability of a product or service.
A. Market Sizing
B. Product Application
C. Both a&b
D. None of these
14: In SOM goods or services created to meet a demand, thereby providing a solution to a customer problem
A. True
B. False
15: People who may evaluate your product and tell the public about it,Such people are called
A. Recommenders
B. SOM
C. SAM
D. None of these
16: SAM is stands for
A. Serviceable available market
B. Share accountant market
C. None of these
17: Share of market; the portion of SAM that your company is realistically likely to reach.
A. True
B. False
18: The sellers who compete for customers in the marketplace are called
A. Supply
B. TAM
C. Top-Down Analysis
D. None of these
19: Abbreviation of TAM
A. Total available market
B. Top-Down Analysis
C. Both a&b
D. None of these
20: In top-down analysis, determine the total market using ______ and then estimate your share of the market.
A. Geography data
B. Psycho data
C. demographic data
D. Both b &c
21: _____ are profiles or representations of your ideal customers based on information and market research that help you to create strategies to connect with your target audience and promote product and services to people who will potentially buy them.
A. consumer maps
B. buyer touchpoints
C. target consumers
D. buyer personas
22: Customers who have the ability to approve large-scale purchases, such as for retail chains and corporate offices.
A. users
B. decision makers
C. influencers
D. economic buyers
23: Approximately one-third of potential customers are classified as ______ customers. They are both practical and extremely risk-averse.
A. laggard
B. late majority
C. early majority
D. early adopter
24: Understanding your different customers according to demographics, geography, behavior, lifestyle, and needs is called ______.
A. customer segmentation
B. market distribution
C. market share
D. customer typology
25: The ______ method of estimating your market size involves determining the total market, and then estimating your share of the market, often using demographical data like population, age, income, or location to calculate market share.
A. top down analysis
B. bottom up analysis
C. competition assessment
D. segment definition
26: This is one of six main items used to create an end user profile. To acquire experiential data, entrepreneurs walk in their users’ shoes for a time. This method is particularly effective after you have spent some time observing and talking to a group of end users.
A. proxy product
B. biggest fears and motivators
C. watering hole
D. a day in the life
27: Focusing your resources on a single, primary market first is known as ______ marketing.
A. pilot
B. beachhead
C. prototype
D. segment
28: Popular bloggers, experts in an industry, or CEOs of major corporations who carry a lot of weight when they evaluate your product and tell the public about it are examples of ______.influencers
A. influencers
B. decision makers
C. recommenders
D. economic buyers
29: ______ entrepreneurs focus on the newness of the technology behind their idea, the superiority of the product or service, and the potential to revolutionize the industry.
A. Experienced
B. Novice
C. New Market
D. Innovative
30: ______ is a method of estimating the number of potential customers and possible revenue or profitability of a product or service.
A. Market segmenting
B. Customer basing
C. Market sizing
D. Customer mapping
31: A ______ is a visual representation that captures customer experience across multiple touchpoints of your business. It is designed to provide a holistic view of your customers’ experience with your product or service
A. buyer persona
B. customer journey map
C. storyboard
D. customer prototype
32: ______ refers to the sellers that compete for customers in the marketplace, while ______ implies the desire held by prospective customers for the goods and services available.
A. Demand; supply
B. Market; market share
C. Market share; market
D. Supply; demand
33: When capturing customer experience, it is important to pay attention to numerous factors, including ______ which indicate how your user interacts with your company.
A. touchpoints
B. knowledge points
C. happy points
D. pain points
34: Serviceable Available Market (SAM) refers to ______.
A. the portion of the market your company is realistically likely to reach
B. the total market demand for a product or service
C. the section of the total available market that your product or service intends to target
D. the section of the total market in which your product or service cannot compete
35: Customers become ______ when they actually use the product or service.
A. decision makers
B. consumers
C. economic buyers
D. product or service appliers
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Developing your Customers in entrepreneurship MCQs
