MKT 355 Chapter 7

feasibility and impact

A big value opportunity is defined by blank1 - Word Answer and blank2 - Word Answer.

b

A pain analysis is conducted in the context of executing an immersion plan. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a True b False

c

A person is seeking to maintain the status quo with respect to some condition, or to get back to some status quo for that condition. This condition would be classified as which of the following pain category? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Morphine b Vitamin c Aspirin

b

A portable. refrigerator would typically be categorized as an aspirin product Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a True b False

a

A situation analysis is conducted as part of which of the following information foundation elements of an entrepreneurial marketing plan? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a An immersion plan b An engagement plan c Opportunity assessment d A marketing research survey

3,000

Generally there are some blank1 - Word Answer ideas for every successful product launch.

a

In conducting a pain analysis executives in the venture's supply network should be interviewed as well as experts and potential customers. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a True b False

b

The GE/McKinsey Market Attractiveness-Competitive Strength Matrix is a tool for discovering market opportunities. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a True b False

a

The GE/McKinsey Market Attractiveness-Competitive Strength Matrix was originally designed to be used for which of the following? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Strategic Planning b Market Positioning c Sales Forecasting d Investment Decisions

c

The GE/McKinsey Market Attractiveness-Competitive Strength Matrix would lead the researcher to seek to innovate their business model under which of the conditions? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a The Market Attractiveness score was 3.2 and the Competitive Strength score was 2.1 b The Market Attractiveness score was 2.2 and the Competitive Strength score was 3.5 c The Market Attractiveness score was 1.7 and the Competitive Strength score was 2.1 d The Market Attractiveness score was 1.7 and the Competitive Strength score was 3.5

situation analysis

The evaluation of the results of a pain analysis in conjunction with a blank1 - Word Answer provides a framework for strategic and tactical marketing actions.

c

The marketing environment is Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a the detailed analysis of an environmental scan. b the net difference between the macro environment and the micro environment. c the sum of all external factors that might impact a venture in some way. d the sum of all sustainable efforts by a business.

c

The results of an opportunity validation analysis had a market attractiveness score of 2.5 and a competitive strength score of 2.8. Which of the following strategic actions would be implied? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Proceed to exploit opportunity focusing on building and nurturing customer relationships b Pullback from perceived opportunity c Pivot from current opportunity by innovating the business model used by industry d Pivot from current opportunity by seeking an alternative initial target market

c

The significance of a problem, as opposed to a solution to some problem, is addressed with which of the following methodologies? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a market engagement b situation analysis c pain analysis d idea modeling

d

When launching a new venture, a venture should assess the competitive environment by asking all of the following questions except for which of the following? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Who are our existing rivals? b What new competitors may emerge? c What is the relative strength of suppliers and buyers within the industry? d What action groups will likely oppose the product?

c

Which of the following analysis procedures would an entrepreneur use to help them determine an initial target market? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Environmental scan b Opportunity validation c Pain Analysis d Community assessment

b,c

Which of the following is an area of application for a pain analysis? {check all that apply} Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a the extent an opportunity exists b the identification of an initial target market c the framing of a minimum viable marketing plan

c

Which of the following is one of the requirements for an idea to be a good idea? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a viable business model b scalable marketing plan c an opportunity exists d consistent with entrepreneur's passion

a

Which of the following makes sure that all of the relevant factors have been considered when developing some marketing plan, and that the direction the organization takes is consistent with marketing precedence and principles? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Analysis framework b Environmental scan c Market analysis d Pain analysis

a

Which of the following measures the nature and intensity of a potential customer's experience with some problem? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Pain analysis b Market potential c Trend analysis d Problem analysis

d

Which of the following statements is true? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a In terms of the venture development process, pain and impact are synonymous terms. b Pain analysis is more instinctual than data driven. c Pain analysis should be completed only after an idea modeling analysis has been completed. d Pain analysis seeks much of the same information as a target market analysis used in a traditional marketing planning process.

c

Which of the following terms which addresses whether it is actually possible to build some idea, and whether that idea is consistent with social trends? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a impact b profitability c feasibility d intensity

b

Which of the following would require the smallest marketing push (level of effort and expenditures) in order to successfully penetrate the market? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a a vitamin level problem b a morphine level problem c an aspirin level problem d a laxative level problem

morphine problem

a pain point; a physical psychological or lifestyle condition that is intolerable

morphine problem

a pain point; currently actively acting seeking a solution

vitamin problem

a pain point; highly price sensitive

vitamin

a pain point; no real physical or psychological problem

Aspirin

a pain point; the seeking of a solution that is convenient