Exam (elaborations)
MHR 322 Final Solutions 2024 (A+ Rated) .
- Course
- Institution
MHR 322 Final Solutions 2024 (A+ Rated) .
[Show more]
Seller
Follow
modockochieng06
Content preview
MHR 322 Final Solutions 2024 (A+ Rated)In the decision-making unit, a champion is: - ANS-The person who wants the customer
to purchase the product
When you are trying to sell a new product or service, you usually only have to convince
one key person to make the sale. - ANS-False
The best way to figure out the decision-making unit is to talk to your potential
customers. - ANS-True
In the decision-making unit, an influencer is: - ANS-The person with depth of experience
whose opinion can affect the rest of the decision-making unit
The persona for your product is also the primary economic buyer. - ANS-False
To develop an effective map for the process of acquiring a paying customer, it is
important to: - ANS-NOT - Figure out how much it will cost, in total, to acquire a
customer
Mapping the process to acquire a paying customer usually requires all of the following
steps EXCEPT: - ANS-Estimating the per unit cost of acquiring a new customer
Mapping the process to acquire a paying customer can help you identify hidden
obstacles that inhibit your ability to sell your product. - ANS-True
All of the following are key factors when designing a business model EXCEPT: -
ANS-The strategy or core you will implement
Giving away your product or service for free can be a viable business model as long as
you sort out how to monetize it later. - ANS-False
Which business model relies on the customer providing their credit card or billing
information in advance and then being charged for small purchases, usually of
digital goods with no physical value? - ANS-Microtransactions
Which of the following is NOT one of the 9 building blocks of the Business Model
, Canvas? - ANS-Team, products & services, technology
In "A Broken Place," the article about Better Place and entrepreneur Shai Agassi, the
business model began to fall apart when: - ANS-The actual car produced by the
company was lower-end than planned, with less travel range, and a higher price.
B2B ventures should understand budgeting authority in the customer acquisition
process because: - ANS-Many firms have an easier and faster approval process for
operating budget expenses than capital budget expenses.
In Disciplined Entrepreneurship, a "customer" is not always just a customer. Which of
the following is an example of a more complex customer situation? - ANS-When you
have a two-sided market where multiple target customer types are needed
Calculating total addressable market for follow-on markets is essential relatively early in
the venturing process because you need to be prepared to pivot if your beachhead
market does not develop as expected. - ANS-False
Once you have identified your beachhead market, you should identify 10-12 adjacent
markets and calculate TAM for each. - ANS-False
According to Vic Verma (founder of Savi Technology), a common mistake for
entrepreneurs is: - ANS-To believe that they can simply convince customers that they
need a new product or service
In the decision-making unit, the most important role determining whether your product
sells is: - ANS-Primary economic buyer
All of the following are primary roles in the decision-making unit EXCEPT: -
ANS-Purchasing agent
The primary economic buyer is: - ANS-The decision maker who will sign off on spending
money
In the decision-making unit, an influencer is: - ANS-The person with depth of experience
whose opinion can affect the rest of the decision-making unit
When mapping the process to acquire a paying customer, you should note whether
payment will come from the customer's yearly operating budget or from the customer's
long-term capital budget. - ANS-True
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller modockochieng06. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79373 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now