MGMT 340 FINAL
While many companies set goals like :increase brand awareness," this kind of objective leaves a lot up to interpretation
True
How many steps are in Business Development Program
7
The Lean Startup model offers a way to test an organizations hypotheses ________
Immediately Rigorously Thoroughly
For most businesses, especially the larger ones, marketing is a fluid and constantly changing process that never stops
Trrue
_______ content writing involves a careful balance off promotional and non-promotional content
Quality
All innovations need to be ______?
Quantifiable
The goal of a startup is to figure out the right thing to build - the thing customers want and will pay for- as quickly as possible
true
the theory of the Lean Startup os an organization designed to create new products and services under conditions of extreme uncertainty
true
__________ is what creates a persuasive power
trust
It is often easier to raise money or acquires other resources when you have ______ revenue
zero
_______ begins at the point in the life of your business when you decide to get some help
Adolescence
Every _____ business reaches a point where it pushes beyond its owners comfort zone
Adolescent
Innovation is a _______.
Bottoms-up Decentralized Unpredictable thing
The essential lesson the be learned from small batch sizes is that by reducing batch sizes, organizations can get through the _____ more quickly than competitors.
Build-Measure-Learn feedback loop
The true product of the business is the ________ itself
Business
Research suggests that only 16% of people read web pages word-for-word. Most people _______.
Scan
Through the use of ________ as our yardstick, we can discover and eliminate the sources of waste that plaguing entrepreneurship.
Scientific Learning
the amount of time a company can count on holding on to market leadership to exploit its earlier innovations is _______.
Shrinking
The one envelope at a time approach is called "single-piece flow" in lean manufacturing. It works because of the surprising power of ___________.
Small Batches
What does McDonald call its self "The most successful ________ in the world"?
Small Business
Which of the following is not one of the three types of systems?
Starter System
Your ________ is a very clear statement of what your business has to ultimately do for you to achieve your Primary Aim?
Strategic Objective
A ________ sets the tone for all of the activities, and it gives a context that helps in making design decisions
Strategy
A ______ is an inviting button, link, image, or some other sort of graphic that encourages a site visitor to become a participant or customer
Call to Action
The _____________ on the Call To Actions are critical for the success of any website and should be monitored very closely
Click Through Rate
Getting started in the development of your website includes all the following EXCEPT
Closely follow what your competitors are doing
If you're in the process of creating a website, one of your top priorities is to write attractive and ________ content for your site.
Compelling
Because the Japanese car market after the war was so small and capital was not available, they were unable to do mass production and take advantage of __________.
Economies of Scale
After Infancy most ______ lock the door
Technicians
The "value hypothesis" ______ whether a product or service really delivers value to customers once they are using it.
Tests
A _______ model is one that fulfills the perceived needs of a specific segment of customers in an innovative way?
Entrepreneurial
The ______ is the dreamer in us
Entrepreneurial personality
Once you were stricken with an ______ Seizure there was no relief
Entreprenurial
The truth is every single growth _______.
Eventually runs out of gas
Typically, slow page load times are affected by all the following EXCEPT
Excess text
One of the most important lessons of the scientific method: if you cannot ________, you cannot learn.
Fail
Generally speaking, your website advertising figures are a good indication if your website is growing, stagnating, or declining
False
If you are building the wrong thing, optimizing the product or its marketing will yield significant results
False
Innovation accounting will still work even if a startup is being missed by vanity metrics such as gross number of customers and so on.
False
Pivots are permanent fact of life for any growing business. Unless they achieve initial success.
False
Planning and forecasting are only accurate when based on a long, stable operating history and relatively static environment. This is why they work so well for start-up companies.
False
Ries believes the mantra of successful entrepreneurs: through determination, brilliance, great timing, and about all, a great product, they can achieve fame and fortune.
False
Strategic planning takes months to complete and experiments should not begin until it is completed
False
The _____ Assumption states "If you understand the technical work of a business, you understand a business that does that technical work"
Fatal
What is the root cause of most small business failure
Fatal Assumption
When an organization starts making cuts that result in a slowdown of the ______, wall they have accomplished is to help the startup go out of business more slowly.
Feedback Loop
Which of the following is not one of the Business Development Steps
Fire everyone
Why did Sarah start selling pies?
Her best friend said she should because she was so good at making pies
What question do you ask to discover your primary aim?
How would you like your story to go?
Having a low-quality product can ______ learning when the defects prevent customers from experience (and giving feedback on) the product's benefits.
Inhibit
____________, a quantitative approach that allows us to see whether our engine turning efforts are bearing fruits.
Innovation Accounting
In the article 21 Tips for Writing Web Content, the author says you should always start with _____ for SEO
Keyword research
The _____ is defined by how man technicians he can supervise effectively or how many subordinate managers he can organize into a productive effort
Manager
The ______ is defined by how many technicians he can supervise effectively or how many subordinate managers he can organize into a productive effort
Manager
Responsible companies want to measure their Return on Investments for Marketing Campaigns. One of the best was is through _________
Marketing metrics
A ______ business knows how it got to be where it is, and what it must do to get where it wants to go?
Mature
Turn-Key Revolution started in what fast food restaurant?
McDonalds
What business development step for small companies can have more impact than any other step mentioned in CH14
Organizational Development
What business development step for small companies can have more impact than any other step mentioned in CH14?
Organizational Development
Knowing what _____ receive the most traffic is highly important because it gives you real-world data showing what your audience responds to
Pages
When a company _______, it starts the process all over again, reestablishing a new baseline and then turning the engine from there.
Pivot
Without a formal growth model, many companies get caught in the trap of being satisfies with a small profitable business when a _____ might lead to a more significant growth.
Pivot
Who was the author of the book "Man's Search for Himself" That Michael Gerber read three time?
Rollo May
Every game has to have _______ for people to be good at it?
Rules
In the development of your Website the first place you start is ______
content
A ______ will guide your plans for the what, where and when of the content creation
content strategy
The amount of time a company can count on holding on to market leadership to exploit its earlier innovation is shrinking, and this creates an imperative for even the most entrenched companies to invest in innovation
True
The prevailing management paradigm is inadequate to handle the problems of continuous innovation in the modern economy.
True
The stories in the magazines are true: hard work and perseverance does lead to success
True
A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty
True
An engine of growth can be defined quantitatively
True
Companies are able to design, develop, and ship out new features one at a time, taking advantage of the power of small batches.
True
Early adopters use their imagination to fill in what a product is missing.
True
Entrepreneurs should humbly test their theories and approach to see what the market thinks. Listen to the feedback honestly. and continue to innovate in the directions they think will create meaning in the world.
True
Eric Rees says their organization IMVU does everything wrong: instead of spending years perfecting their technology, they build a minimum viable product (MVP), an early product that is terrible , full of bugs with stability problems. Then they ship it to their customers way before it's ready and expect the customers to pay for it.
True
Even tracking the most basic of numbers relating to your website will give you an advantage over someone who doesn't bother at all
True
Everything a startup does is understood to be an experiment designed to achieve validated learning.
True
If we do not know who the customer is, we don't not know what quality is
True
If we don't know who the customer is, we do not know what quality is.
True
Lean thinking defines value as providing benefit to the customer; anything else is waste
True
One of the first steps for any website is getting views so a very important metric to keep your eye on is the number of visitors your website is getting every month
True
One of the most vexing aspects of the minimum viable product is the challenge it poses to traditional notions of quality.
True
We must learn what customers really want, not what they say they want or what we think they should want.
True
Marketers don't hear this often, but in the changing landscape of fluid mobile interaction, you have to be OK with __________
Uncertainty
Once a marketing campaign is planned, then next you must decide_____ you want to use to track its effectiveness
Which methods
Your web visitors are hunting for information or products. they make quick decisions _____.
Without thinking
You should build a business that works not because of you but_______
Without you
What does the author say to the questions "How do I get my people to do what I want"
You cant
If visitors notice that your content isn't ______, then your site _____
current, loses all credibility
Write copy with you ______ in mind
customer
The best websites are _______
customer-centric
The Learn Startup Model often works because __________.
customers often don't know what they want.
Which of the following is not a phase of business growth?
death
If you feel like you're still not quite sure how to write website content or find yourself running out of inspiration, ________!
do some googling
Your main menu should tell your visitors _____ what they are going to get at a glance
exactly
The starting point to measure your website's success- what are your _______
goals
The _______ hypothesis tests how new customers will discover a product or service
growth
Think of your site as an _______ that speaks with different groups and converts visitors into prospects and customers
interactive brochure
Skipping a stage of _________ and moving directly to the design stage is a pretty common mistake among many product teams
is defining global goals
Your web visitor is hunting for information or products. Ensure he can understand you most important information by _______
just glancing at your web page
Organize your website content into
logical categories
It goes without saying that _______ is one of the biggest and most important expenditures that any company will make
marketing
Over the past couple of years, however, ______ have become the primary driver of search traffic
mobile devices
By design, a truly ________ relies almost solely on mobile apps and marketing campaigns
mobile-first brand
An abundance of _______ can lead to annoying and distracting visitors
moving objectives
If you offer many different types of services, having a page for each of those services provides _____ your website
multiple entry points into
One of the most common ways is to create content that is centered around
news in your industry
A startup's job is to
rigorously measure where it is right now, confronting the hard truths that assessment reveals devise experiments to learn how to move the real number closer to the ideal reflected in the business plan
Pick some of your most popular older posts and _____
share them with new readers
With a solid strategy, the goal is have a specific purpose and audience for each piece or content
solid strategy
Customers simply want to know how you're going to _______
solve their problem
If the numbers for early experiments don't look promising, there is clearly a problem with the ________
strategy
To measure the success of your ad campaign, its easiest to do this when you divide your marketing derived traffic into _______
subgroups
Having a solid understanding of your _______ and what their needs are, can help you decide what type of content to include on your website.
target audience
A ________ is anything that make you feel good about your sites progress, without telling you anything important about your business
vanity metric
Because ________ ultimately determine the success of a website, they should be in the spotlight during lute's development
visitors
If you don't put your ______ first, your website won't be effective.
visitors
The ______ of your website impacts the readability of your text; and influences whether web visitors can quickly get what you're about
visual appeal
Web visitors quickly glance at your web page before guessing whether they're in the right place or not. They don't need to know for sure. They just ________
want to make a quick decision
You should build a business that works not because of you but______
Without you
At McDonalds the hamburgers were removed from the hot trays in no more than _____ minutes?
10
According to the Small Business Administration more than _______ such business close every year
400,000
In 2000 franchise businesses were responsible for _______% of every retail dollar?
50
What is the second standard of a Strategic Objective?
An Opportunity Worth Pursuing
What is the second standard of a strategic objective
An opportunity worth pursuing
A common problem entrepreneurs can fall victim to is _______, endlessly refining their plans.
Analysis Paralysis
The more ______ a system is, the more effective your Franchise Prototype will be
Automatic
_______ the magnet of your website and a key tool in helping to reach your company's marketing objectives
Content is
The Build-Measure-Learn feedback loop is a _______ process.
Continuous
___________ by traffic source is calculated using the same four traffic source categories: organic search, referral, direct, and social
Conversion rate
Think of your company as a ______ instead of a partnership?
Corporation
Think of your company as a _______ instead of a partnership?
Corporation
Which of the following is not an activity in foundation of the business development process?
Cost Cutting
Suppose and advertisement costs $100 and causes fifty new customers to sign up for this service. This ad has a __________ of $2.
Cost per Acquisition (CPA)
When developing a Market Strategy it is important to forget about what you want and consider what the ______ wants?
Customer
Your Marketing Strategy starts, ends, lives, and dies with your______
Customer
Everyone who goes into business is actually ____ people in one?
Four
What is the secret behind the success of the Business Format Franchise
Franchise Prototype
Where are all assumptions put to the test
Franchise Prototype
Where are all assumptions put to the test?
Franchise Prototype
Most companies organize around personalities rather than around______
Functions
How do we leave a good first impression
Good design
Probably the main method to measure traffic and other data that has to fo with the traffic pertaining to your website is _________. While their are other methods, this is the main method used by most online companies
Google Analytics
What are the natural dispositions of every business?
Grow or Contract
With all pivots, we have to get back to the basics and start the _______ over.
Innovation accounting cycle
A ___________, can be defined as a measurement that is in place to measure the performance of any business activity
Key Performance Indicator
The _____ about how to build a sustainable business is the outcome of experiments.
Learning
_________ is the essential unit of progress for startups
Learning
"your business and your ____ are two totally separate things?"
Life
Your ______ Plan shapes your life, and the business that is to serve it?
Life
All of the following EXCEPT _______ helps you set goals for your website
Make kit specific Tie the purpose to the business goals Conduct competitor research
A ___________ is the fastest way for entrepreneurs to learn
Minimum Viable Product (MVP)
The _____ is that version of the product that enables a full turn of the Build-Measure-Learn loop with a minimum amount of effort and the least amount of development time.
Minimum Viable Product (MVP)
What is the first standard of a Strategic Objective?
Money
On an average each person who signs up will bring, on an average _______ than one other person with him of her.
More
Earning ______ is an essential goal for any blogger
New subscribers
After the startup has made all the micro changes and product optimizations it can to move its baseline toward the ideal, the company reaches a decision point. At this point they ___________.
Pivot or persevere
Who said "Creativity thinks up new things"?
Professor Levitt
The biggest advantage of working in small batches is that_________.
Quality problems can be identified much sooner
A ______ is a set of things, actions, ideas, and information that interact with each other, and in so doing, alter other systems?
System
Everyone who goes into business is actually _______ people in one?
Three
Upon completing the Build-Measure-Learn loop, startups confront the most difficult question any entrepreneur faces:
To pivot or persevere
The early franchise business were called "_________" Franchises
Trade Name
The decision to pivot requires a clear-eyed and objective mind-st.
True
The first step in understanding a new product or service is to figure out if it is fundamentally value-creating or value-destroying
True
The innovation accounting framework makes it clear when the company is stuck and needs to change direction
True
____________ is the process of demonstrating empirically that a team has discovered valuable truths about a startup's present and future business prospects.
Validated Learning
________ can allow entrepreneurs to form false conclusions and live in their own private reality.
Vanity Metrics
The only real challenge is to _____________ to the new landscape of mobile interaction so you can truly harness the potential of mobile marketing
adapt your strategy and metrics
In todays information-saturated world, visitors to your website are likely to
be impatient
Listing all of your services on one page, instead of individual landing pages, is a _____
beginners mistake
One of the challenges you have as a content marketer is continually
creating new content
