ENT 3613 Exam 2
One of the ways of anticipating domain change is by surveying the business environment. This may be accomplished by asking
"Are there changing laws or regulations?"
One of the ways of anticipating domain change is by surveying markets and needs. This may be accomplished by asking
"Are there changing preferences in existing markets?"
Which of the following types of experiments involves randomly directing website viewers to one of two web pages to determine how the difference affects conversion rates? -Mockup tests -Landing page tests -Pre-selling -A/B (Split) Testing
A/B (Split) Testing
Who is responsible for creating customer-centric strategies to deliver exceptional customer experiences with product or services?
Chief experience officers
Your business model, distribution strategy, and financial model are examples that align with which narrative element? Falling Action Resolution Exposition Inciting Incident
Falling Action
Describing how you will sustain success is part of the _______. Falling action Climax Rising action Exposition
Falling action
Best way to track insights and ideas
Take notes
What are Customer Experience Directors?
Chief experience officers
What are "intelligent failures at the frontier"? -"Bad" failures resulting from deviance, inattention, or lack of ability performing routine tasks - "Good" failures from experimentation resulting in new knowledge and reduced uncertainty -Failures that help improve creativity and defensibility - "Acceptable" failures reflecting known risks inherent in uncertain and complex work
"Good" failures from experimentation resulting in new knowledge and reduced uncertainty
In his TED Talk, Michael Patrick Lynch describes the paradox our society is facing as we have access to more information by saying "It's as if we know more but understand less." "It's as if we know less but understand more." "It's as if we understand less than we know." "It's as if we understand more than we know."
"It's as if we know more but understand less."
What is the last part of an elevator pitch? Introducing your solution "The ask" "The hook" Describing the problem
"The ask"
One of the ways of anticipating domain change is by surveying industry. This may be accomplished by asking
"What are there emerging best practices?"
Companies often test the effectiveness of alternative website designs by creating multiple versions of their site, randomly assigning different versions to site visitors, and comparing customer behavior on the different sites. This approach to designing websites so they improve engagement and increase purchases is called
A/B testing
Which of the following best describes the learning objective for Module 6?
Ability to design brands and experiences related to innovative solutions
__________ uses comparisons to precedents (other companies, offerings, objects, processes, etc.) to frame problems and suggest solutions.
Analogical reasoning
Which of the following is NOT an element of writing an inciting incident? Help bring others along, so you can help them justify paying attention to you Answering the question of why are you doing this? Answering the question of why do you care? Answering the question of why should others care?
Answering the question of why are you doing this?
According to the book Talking to Humans, adequately preparing for customer discovery interviews is especially crucial for avoiding which of the following threats to validity? -Treating speculation as confirmation -Asking the wrong people the wrong questions -Hearing what you want here -Leading the witness
Asking the wrong people the wrong questions
Joe just recently started a new food truck business and has noticed that his company's posts on social media have been getting a ton of likes and shares. This would be an example of which type of milestone? Selection Survival Awareness Acceptance
Awareness
Which of the following represents a theme or identity that a company portrays with its customer experiences as a means of differentiating it from competing offerings?
Brand
Anton is looking to take out a small business loan to get his venture up off the ground. To convince the bank to give him the loan he will provide the bank his ________. Business plan Elevator pitch Business model canvas Pitch deck
Business plan
Use a __________ when you need to provide a lot of detailed information about your venture to someone. Elevator pitch Canvas Pitch deck Business plan
Business plan
Which of the following is not one of the popular innovation or entrepreneurship methods based on evolutionary cycles wherein novel ideas are introduced to stakeholders in hopes of changing a particular domain of practice?
Business plan development
What were Dr. Ford's final words for you this semester? Start something! Don't suck! Be a BOSS! Charge on!
Charge on!
What is a CXO?
Chief Experience Officer
Which of the following is not one of the questions you should ask to determine if the value you offer to customers and stakeholders is essential?
Can your new venture earn a profit?
Which media tool is used in early stage conceptual organization? Business plan Elevator pitch Pitch deck Canvas
Canvas
Sara and Carter met with coworkers to develop new service initiative ideas. They began the meeting by brainstorming ways they could improve their current customers' experiences. Carter left the room for 15 minutes to brainstorm alone while Sara brainstormed with about ten other coworkers. Based on prior research on brainstorming effectiveness, who is likely to generate the most ideas in this example?
Carter, because he is avoiding group process losses
Which of the following analogies inspired Ford to develop their assembly line process that dramatically reduce costs and enabling many more people to adopt automobiles?
Cattle slaughterhouses
Small business development centers, chambers, incubators, accelerators, universities, and special events are all potential places you may look to find a ________. Community supporter Coach Collaborator Competitor
Coach
In Dr. Ford's Star Wars example, the part of the story where the Death Star gets blown up is considered the _________. Inciting incident Exposition Climax Resolution
Climax
Which of the narrative elements allows you to "battle" your customer's problem and "be the hero!" Rising Action Climax Resolution Falling Action
Climax
Which is the only group that you should enroll who typically want nothing in return? Coaches Customers Community Collaborators
Coaches
People who may be likely to join your team because they share an interest in the problem that you care about are: Coaches Community Collaborators Competitors
Collaborators
Which of the following is not one of the creative thinking processes that you can apply to create value for others?
Collective thinking
According to the Testing with Humans book, which of the following is the most believable method for collecting information during customer discovery? -Landing pages -Concierge -Prototypes -Button to nowhere
Concierge
The Orlando Tech Association could be a great support system as you begin your entrepreneurial journey. This would be a place to enroll ____________. Customers Competitors Investors Community
Community
In Matt Ridley's TED Talk, "When ideas have sex," what processes does he propose as essential to improving wealth and living conditions?
Comparative advantage and specialization
Which of the following limits profits available in an industry and increases fitness requirements among rivals? -Revenue stream -Value network -Target customer -Competition
Competition
All of the following are people you'll likely need to team up with in the early stages of your "quest" except: Collaborators Community Competitors Coaches
Competitors
Which of the following is not commonly considered to be a stakeholder in a comprehensive experience design process?
Competitors
What is the main component that "Storytelling" is used to communicate? Conceptual organizing Conceptual realization Traction with little mode The non-written narrative
Conceptual organizing
What are judgment processes used to determine the fitness or quality of novel ideas called?
Convergent thinking
Which of the following types of experiments involves allowing interested customers to pre-order new products or make reservations for new services? -Crowdfunding -Usability tests -Landing page tests -Task engagement and completion tests
Crowdfunding
What is the most important rule of brainstorming?
Defer judgment
Which of the following is most characteristic of "creaction" (from the Just Start book description) and design thinking processes associated with creaction/creation?
Describing ideas using pictures and prototypes
Eric designed an experiment to test the hypothesis that retailers want to carry his product. He decided he would consider this hypothesis supported if 40% of the retailers he contacted were willing to sign a nonbinding letter of intent indicating their willingness to carry the product. With respect to the anatomy of an experiment described in Testing with Humans, which of the following issues does Eric address in this example? -Determining the appropriate method for running the experiment -Determining a quantifiable result that indicates success -Determining the number of participants needed -Determining the appropriate sample for his experiment
Determining a quantifiable result that indicates success
Mitra was designing an experiment to test the hypothesis that early career health care providers would sign up for his online training program. He knew the people participating in his test had to belong to his target market. With respect to the anatomy of an experiment described in Testing with Humans, which of the following issues does Mitra ra address in this example? -Determining the appropriate sample for his experiment -Determining the number of participants needed -Determining the appropriate method for running the experiment -Determining a quantifiable result that indicates success
Determining the appropriate sample for his experiment
What tools are not essential to KEEP customers?
Door Locks
What is the first story lesson that Andrew Stanton ever learned? Draw from what you know All stories should have a hero and a villain Good stories use songs All stories must have a happy ending
Draw from what you know
Which media tool is the most time-constrained? Canvas Elevator pitch Pitch deck Business plan
Elevator pitch
Which tool can be used as a conversation starter to help networking? Business plan Elevator pitch Pitch deck A Canvas
Elevator pitch
You may receive all of the following for enrolling customers except: Learning Emotional support Revenue Referrals
Emotional support
Amazon's new Amazon GO grocery stores will allow customers to scan their phone when they walk into a store, grab what they want, and walk out without checking out. Which part of Amazon Go's customer journey is affected most directly by this design?
Engagement
When using a business plan to tell your story, the exposition would be the ________. Market Analysis Section Management Summary Section Financial Plan Section Executive Summary
Executive Summary
Learning fast and from failures is a form of:
Experimentation
Which of the following is one of the primary benefits of conducting experiments, or "Testing with Humans", during the customer discovery process? -Experiments are helpful when you are initially exploring an idea -Experiments are good for quantifying levels interests and frequency of behaviors -Experiments are especially effective at discovering surprising ideas -Experiments allow you to use effective research methods favored by ethnographers
Experiments are good for quantifying levels interests and frequency of behaviors
The following statement is an example of what element of the narrative structure, "Hello, my name is Jackie Johnson and I am the founder of a new company called Rising Stars, where help children from low-income homes chase their dreams of becoming professional athletes." Exposition Resolution Rising Action Inciting Incident
Exposition
In an elevator pitch you should focus on your _______ and _______. Rising action; falling action Exposition; rising action Falling action; resolution Exposition; resolution
Exposition; rising action
When you are trying to judge you value proposition, what should you do after you believe you understand the problem you are addressing? -Capture and evaluate evidence -Run tests -Extract hypotheses regarding the novelty and value of your proposal -Design tests
Extract hypotheses regarding the novelty and value of your proposal
Which of the following is not one of the four types of entrepreneurial career paths that Dr. Ford discussed? On the Side Extrapreneurship Straddling Startup
Extrapreneurship
What type of startup capital is characterized by instruments used to exchange for resources, such as debt, equity, and cash?
Financial
The feasibility and affordability tests featured in the Jet Suit TED Talk were primarily trying to address the basic question of "will it work?" What type of test does this best illustrate? -Reliability -Function -Form -Manufacturability
Function
The feasibility and affordability tests featured in the Jet Suit TED Talk were primarily trying to address the basic question of "will it work?" What type of test does this best illustrate? -Function -Manufacturability -Form -Reliability
Function
In Dr. Fords final words about when we have purpose and meaning and a way to generate money this tends to make us feel... Tired Lost Happy Sad
Happy
The reading "What's better than brainstorming" suggested overcoming common group process losses associated with brainstorming meetings by
Having meeting participants brainstorm ideas individually before the meeting
According to the "StartupVille" video, in the early stages of entrepreneurship there is no ___________. Financial assistance Diversity Hierarchy Community
Hierarchy
Customer discovery experiments can be difficult and time-consuming to conduct. Consequently, the Testing with Humans book advises you to be very selective with respect to the hypotheses you test using experimental methods. What hypotheses attributes do they suggest you should emphasize when determining which would benefit most from using experimental research methods? -Low impact and low uncertainty -Low impact and high uncertainty -High impact and high uncertainty -High impact and low uncertainty
High impact and high uncertainty
Which library database does Dr. Ford use to show you how to find information regarding a specific company, including its products, strategies, plans, and current performance? -US Census -Ibis World -Market Line -Hoovers
Hoovers
Which of the following is NOT one of the questions that gets asked during the falling action phase? How will you make money? How will you find your customers? How will you succeed and grow? How will you go to market?
How will you find your customers?
The ability to describe your financial model answers which question in the falling action and resolution phases of the key narrative elements? How will you succeed and grow? How will you go to market? How will you find your customers? How will you make money?
How will you succeed and grow?
In his customer discovery research for his T-shirt design company, Kyle wants to learn what proportion of millennials identify with characters from the TV show Bob's Burgers. Which of the following key research considerations is Kyle considering in this example? -Analysis -Sample -Hypotheses -Method
Hypotheses
Which library database does Dr. Ford use to show you how to find information regarding total available market (TAM) and served available market (SAM) size associated with an industry? -Hoovers -US Census -Market Line -Ibis World
Ibis World
Low fidelity prototypes like napkin sketches, canvases, and mockups are an effective means of "inviting others to play", thereby getting them involved in evaluating and co-creating novel proposals. Letting others join you in imagining encourages them to enroll. With respect to engaging investors in this manner, which of the following bits of advice reinforces this point?
If you want my money, ask for my advice
According to the advice offered in the Talking to Humans book, which of the following approaches typically yields the most informative and valid results? -In-person interviews -Facebook surveys -Skype interviews -Focus groups
In-person interviews
Which of the following is not one of the primary ways that low fidelity prototypes promote creativity?
Increasing the number of convergent thinking processes employed
According to Tim Brown from IDEO, the world's leading design firm, what does design thinking begin with?
Integrative thinking
What type of startup capital is characterized by knowledge, routines, and inventions embodied in new venture processes and practices?
Intellectual
Which of the following is not one of the three essential aspects fundamental to design thinking?
Intelligence
Which type of failures are worthy of being celebrated? -Intentional failures -Unavoidable failures -Intelligent failures -Preventable failures
Intelligent failures
Michael is trying to determine if exercising daily will improve his quality of sleep. He does this by recording his quality of sleep for a week without daily exercise, and then again for a week with daily exercise. He makes sure that every other aspect of his life, such as diet, bedtime, and location of sleep, are as identical as possible for those two weeks. What is Michael attempting to establish in his experiment? -Fact -External validity -Internal validity -Experience
Internal validity
According to the Testing with Humans book, which of the following is the least believable method for collecting information during customer discovery? -Wizard of Oz -Pre-selling -Landing pages -Interviews
Interviews
What is the entrepreneurial career path that involves creating and championing new ventures that improve the offerings of an established organization? On the Side Intrapreneurship Startup Straddling
Intrapreneurship
When establishing yourself, what is the first step you should take? Engaging yourself Buy a suit Practice your speech Introduce yourself
Introduce yourself
What is the first step you need to undertake when judging your value proposition? -Design tests -Invest in understanding the problem -Prioritize your hypotheses -Capture evidence
Invest in understanding the problem
What does Dr. Ford hope you do moving forward? Forget about this class and move on with your life Invest in yourself and use the resources around you Fall asleep Work less and make more
Invest in yourself and use the resources around you
Banks, angel networks, & venture capital firms are places you may find ___________. Coaches Customers Investors Community
Investors
What does Tim Brown from IDEO, the world's leading design firm, why is design thinking an appropriate response to change?
It offers new ways of tackling problems
According to the TED Talk called "Designing for all 5 senses", why is sex such a great experience?
It pleasurably engages all of the senses
According to Andrew Stanton, storytelling is _________. Joke telling Connecting with the audience Creating uncertainty Creating relatable characters
Joke telling
Which of the following is not one of the "official rules" of brainstorming?
Judge ideas as you go
What element of the narrative structure explains, who the people who have the major problem are, what the nature of the problem is, and how many people have this problem? Falling Action Climax Rising Action Inciting Incident
Rising Action
This module has described many methods that modern entrepreneurs use to take smart steps that generate data, promote learning, and reduce uncertainty. Information from observing, interviewing, experimenting, and testing can all be used to evaluate the plausibility of your creative value proposition. What is the judgment process called that determines whether you will take additional steps based on what you imagine, or forecast will happen if you proceed? -Imagination -Evaluation -Justification -Creation
Justification
What is the second step to aid in creation of a Viral Loop after GET?
Keep
During a customer discovery interview, Crystal asked an interviewee "Don't you think it's really important for us to take steps to reduce the amount of plastic floating in the ocean?" Which threat to her interview's validity is best illustrated by Crystals question? -Hearing what you want here -Asking the wrong people the wrong questions -Leading the witness -Treating speculation as confirmation
Leading the witness
What analogy best represents "chunks" and interfaces you can use to create a "modular architecture" that enables users/buyers to innovate and customize their own solutions?
Legos
When using a canvas to tell your story, the right side of the canvas would represent your _________. Exposition Resolution Rising action Falling action
Rising action
In the Star Wars example given by Dr. Ford, what is described as the inciting incident? When Han Solo kisses Princess Leia Luke Skywalker's parents being killed Luke finding out the truth about Darth Vader The Death Star being blown up
Luke Skywalker's parents being killed
What were the two types of risk Owlet knew they would be facing? -Market and cost -FDA and health -Market and technology -Technology and cost
Market and technology
In Lean Startup practice, what do you do after building your product or service? -Pivot your idea -Learn from your customers -Measure how customers respond -Sell your product or service
Measure how customers respond
In his customer discovery research, Trevor will randomly interview 100 fans at an Orlando Magic game. Which of the following key research considerations is Trevor considering in this example? -Controls -Methodology -Analysis -Hypotheses
Methodology
Which jazz musician recorded the classic cool jazz album "Kind of Blue" by using several interventions that improved the creative improvisation of his musicians?
Miles Davis
Which of the following refers to a prototype that demonstrates an offerings value by presenting the smallest set of features that work as a stand-alone offering while solving at least the core problem? -Minimum Viable Product (MVP) -Low-Fidelity Value Proposition -Least Common Denominator -Initial Public Offering
Minimum Viable Product (MVP)
_________ convey descriptions of "who we are" and "what we do." Themes Story plots Settings Narratives
Narratives
What type of startup capital is characterized by land and other locally available factors of production?
Natural
In the story presented in the Talking to Humans Book, what research method did Koshi and Roberta use that allowed them to discover that over half of customers shopping for pillows used their phones for Internet research while they were comparing alternatives? -Sale actions -Observation -Lab studies -Interviews
Observation
Which of the following is not a common research method used when Testing with Humans during customer discovery? -Sales actions -Observation -Participatory design and evaluation -Lab studies
Observation
What is the entrepreneurial career path that involves pursuing a new venture as a creative outlet and income supplement while holding a wage-earning job? On the Side Straddling Startup Intrapreneurship
On the Side
When interviewing customers about your product what types of questions should you ask?
Open-ended
What can help nurture awareness of your product or services to customers?
Paid and Earned Media
According to the advice offered in the Talking to Humans book, what should you do periodically through your interviews to make sure that you are interpreting people's statements correctly? -Drill down and ask "why" questions -Parrot back insights to confirm your understandings -Bring a note taker -Ask warm-up questions, and keep it "human"
Parrot back insights to confirm your understandings
All of the following people would be great options to enroll as coaches except: Peers who share your interest Startup process experts Subject matter experts Experienced entrepreneurs
Peers who share your interest
Which media tool would use PowerPoint, Keynote, or Google Slides to present your story? Pitch deck Elevator pitch Business plan Canvas
Pitch deck
Narratives that present a ________ identity and plausible proposition are likely to attract others to enroll and offer support. Positive Simple Complicated Negative
Positive
Which of the following are most valuable for promoting the evolution of novel ideas until they are valuable to stakeholders?
Prototypes
You need collaborators for all of the following reasons except: More helping hands to get work done Provide initial funding Share the risks Enrich knowledge resources
Provide initial funding
Coaches, collaborators, & community will be excited about you because they believe in your ________. Potential benefits Financially beneficial arrangement Product Purpose
Purpose
What are people hungry for in life? Pizza Time off Money Purpose
Purpose
According to the video we watched regarding how store design seeks to increase purchasing behavior, which direction do stores typically direct customer when then enter a store?
Right
What did Owlet do after deciding to remove the alarm function in their tracker? -Re-validate the product -Re-calculate their costs -Sell their product -Re-apply for approval from the FDA
Re-validate the product
What may a community want in return if you enroll their help? Equity Coaching Money Reciprocity
Reciprocity
According to the design thinking explainer video, which of the following is not part of the design thinking process?
Researching
When using a business plan to tell your story, the Financial Plan Section is considered the _______. Resolution Falling Action Exposition Rising Action
Resolution
In her customer discovery research, Blair is interested in learning from Caucasian females from ages 18-24 she thinks will like her lifestyle blog. Which of the following key research considerations is Blair considering in this example? -Method -Analysis -Sample -Controls
Sample
What are the three processes that contribute to novel associations?
Serendipity, similarity, and shared links
Dr. Ford once interviewed an executive at Hershey Foods who, perhaps surprisingly, was selling a national brand of pasta they had acquired. He explained that they varied the color of the packaging in different regions of the country because their research showed that colors had different associations in different locations. Which of the following senses is most directly addressed by this experience design consideration?
Sight
What metaphor does Dr. Ford use when he describes sharing control of a venture with collaborators? Slice of bread Slice of pizza Slice of pie Slice of cake
Slice of pie
Marty decided to remove outdoor seating from his restaurant on Colonial Drive after he saw negative comments on social media about exhaust emissions from passing cars ruining his customers' experiences. Which of the following senses is most directly addressed by this experience design consideration?
Smell
Michael Porter, the famous Harvard business strategy guru, explained how competitive forces make different industries easier or harder to engage and earn profits. Which of the following industries did Porter describe as particularly favorable with respect to likely profitability? -Soft drinks -Music production -Airlines -Marijuana
Soft drinks
A canvas is best used for all of the following except: Tracking evidence Starting a conversation Coaching Collaborating
Starting a conversation
According to the advice offered in the Talking to Humans book, what you do ask people to tell you during a customer discovery interview? -Lists of features they wish they had -Stories about their experiences and feelings -Whether they like your new product or service idea -Descriptions of their personal attributes
Stories about their experiences and feelings
What is the entrepreneurial career path that involves working on validating a new venture proposal while holding a wage-earning job, and jumping to the startup if it gains traction? Intrapreneurship Straddling Startup On the Side
Straddling
What interests do investors and strategic partners want from startups and entrepreneurs? Value chains Superior financial returns The limelight Friendship
Superior financial returns
Some examples of who are investors and strategic partners? Suppliers and retailers Cable television channels Loan collectors Television channels
Suppliers and retailers
When Dr. Ford described different approaches to acquiring resources, he described how you can "break" things to get what you need. Which of the following best describes this approach to resource acquisition?
Take resources from one use and apply them to another
What are the two action principles entrepreneurs need to embrace that promote learning and mitigate risk associated with imagining? -Fail quick and often/ask for help from experienced mentors -Take big leaps and learn on the way/imagine how you can help others -Learn from other's mistakes /have a lot of grit -Take small smart steps/reflect on experiences to justify next steps
Take small smart steps/reflect on experiences to justify next steps
Module eight's learning objective can best be described as: The ability to evaluate a proposals value and justify further investment. The ability to enroll supporters by effectively communicating a unique value proposition. The ability to conduct research that can be used by Angel investors. The ability to talk to humans.
The ability to enroll supporters by effectively communicating a unique value proposition.
What do your customers want in return? Benefits that were not promised to them The benefits that were promised to them Their money back Money and fame
The benefits that were promised to them
In the "StartupVille" video, what is the speaker's theory called that lists what is essential to a sustainable vibrant startup community? The rock theory The StartupVille thesis The boulder thesis The sustainability theory
The boulder thesis
What is an example of a Rising Action? The problem Business Model Marketing Strategy The height of your idea
The problem
What does Tim Brown from IDEO, the world's leading design firm, mean when he says that design is human-centered?
The process starts by considering humans needs
According to the "StartupVille" video, all of the following are essential to a sustainable vibrant startup community except: There must be a philosophy of inclusiveness The startup community is led by entrepreneurial "feeders" There must be activities and events that engage the entire entrepreneurial community Entrepreneurs must have a long-term commitment
The startup community is led by entrepreneurial "feeders"
When IDEO designers were tasked with building a better cubicle, what was the first thing they did?
They gained empathy by observing and experiencing cubicle environments
In the story presented in the talking book, Koshi and Roberta hypothesized that new college graduates would be there primary target market. What that they discover from their research? -The evidence was inconclusive. They decided to set up sales actions to further test their hypothesis. -They were wrong. Older consumers in larger homes or a better target market. -They were right. 45% of new college grads by new pillows soon after graduation. -They were wrong. Slightly older customers who are moving of getting married buy more pillows.
They were wrong. Slightly older customers who are moving of getting married buy more pillows.
When creating a pitch deck what do you start out with? Title slide which includes the inciting incident story A structure to house your ideas on Team slides Competitive advantage
Title slide which includes the inciting incident story
Why are investors or strategic partners needed? To gain access to financial capital To garner industry respect Help you come up with a great idea For emotional support
To gain access to financial capital
Which of the following used design ideas inspired by using grocery stores as an analogy that motivated the development of their value proposition?
Toys 'R Us
Evidence that relevant gatekeepers value your idea is referred to as ________. Friction Traction Enrollment Social Proof
Traction
_______ is key to enrolling others and building new venture momentum. Creativity Traction Diversity Money
Traction
In Dr. Ford's remembrance of a quote about the purpose in life, it indicates that the importance lays in the idea of being... Lazy Yourself Useful, to gain purpose and meaning More than yourself
Useful, to gain purpose and meaning
Dr. Ford suggested that creating broad frameworks of understanding and action, such as a company strategy or culture, provides a way of aligning individual effort while still capitalizing on individuals' ability to improvise. Which of the following key lessons from jazz improvisation describes this example?
Using minimal structures to allow flexibility
When using a canvas to tell your story, where on the canvas should you begin? Key resources Value proposition Key partners Customer segment
Value proposition
This class presents you with "learning modules." How do we use modular architecture in the way this course in designed?
We record small components that can be organized and navigated in many different ways
Which of the following questions is most likely to promote divergent thinking processes?
What are the possible uses for a blanket?
"Hi! I'm Cameron Ford and I'm the Director for the Center for Entrepreneurial Leadership. Our goal is to provide entrepreneurship experiences to every student on UCF's campus." The aforementioned statement answers which question in building your exposition? Why are you doing it? What are you doing? Who are you? When do you do it?
What are you doing?
When is a pitch deck ordinarily used? When working with a coach At a networking event When you apply for a bank loan When you present to an audience
When you present to an audience
When you recall your "Customers journey" you are essentially asking... What steps are they taking? Where are they? The shoes that are most comfortable to them? Where did they go on vacation last year?
Where are they?
When enlisting customers for overall purchase of your product or service, what is the first question you should ask yourself? Who are they? What do they like to eat? What do they want in return? Why are they needed?
Who are they?
What, according to Andrew Stanton, is the main ingredient in storytelling? Wonder Great characters Conflict Uncertainty
Wonder
Which of the statements below best captures the purpose of using the "yeah, but" statement? Yeah we're like Starbucks, but we don't sell coffee just tea. Yeah we can custom make that outfit in your size but it will cost you extra. Yeah we have discounts for our website, but you'll have to look out for our special promotional codes. Yeah we're like Amazon, but we have free one-day shipping and no minimum purchase requirements.
Yeah we're like Amazon, but we have free one-day shipping and no minimum purchase requirements.
In the Owlet video, when Tanner was rejected by the hospital administrators, what valuable lesson did he learn? -Your user is not always your customer -Your customer controls your user -Hospitals are evil -Your user does not serve your customer
Your user is not always your customer
Experience design is primarily defined as
a means of making interactions with a brand more pleasant.
Divergent thinking is provoked by considering ideas that address
a single stimulus question.
Module seven's learning objective can be best described as helping you develop your -ability to talk to humans. -ability to conduct research that can be used by Angel investors. -ability to evaluate a proposals value and justify further investment. -ability to conduct market research.
ability to evaluate a proposals value and justify further investment.
In terms of the Creative Action Cycle model we have used throughout the semester, conducting an experiment would be best described as an example of -creating. -justifying. -acting. -imagining.
acting
Julia wants her cleaning service to get rid of her customers' hassles. She is attempting to:
alleviate customer pains
Ideally, you should express your market share goals (target market) as the -amount of revenue you earn from the customers you serve. -number of customers you serve. -total number of customers in the segment you serve. -total available revenue in the market you serve.
amount of revenue you earn from the customers you serve.
What term is similar to a company's selling proposition, which is defined as a way to convince potential customers that their product adds greater value than competitor's offerings?
competing value proposition
Rivals, new entrants, substitutes, and power held by others in the value network increases -value propositions. -competition. -opportunity. -revenue.
competition.
The most credible way of estimating the target market you hope to address with your value proposition is to estimate your capacity to serve/produce and use that to estimate the portion of the available market you might be able to acquire. This approach to market sizing is commonly referred to as -credible market estimates. -top-down market estimates. -TAM-SAM-SOM estimates. -bottom-up market estimates.
bottom-up market estimates.
When you determine that your solution can be offered to others at a profit, you have demonstrated that your proposal has
business model fit
How does a company judge the willingness of their customer base to pay?
by the experience their product or service renders
Which of the following is not one of the questions you should be asking when you evaluate (judge) whether you have good problem/solution fit? -do you have evidence that your solution addresses the problem or need? -Can you produce your solution at a profit? -Do you have evidence that you are addressing a serious problem or need? -are there enough customers to constitute a "market"?
can you produce your solution at a profit?
An important way to promote your ability to improvise effectively is to learn from other domain experts by hanging out in
communities of practice
The TED Talk that featured the evolution of a jet suit is a great example of -conducting feasibility experiments. -stupidity. -divergent thinking. -conducting customer discovery.
conducting feasibility experiments.
Our predisposition for hearing what we want to hear when we are conducting customer discovery refers to a bias called -confirmation bias. -sunk cost fallacy. -fake news neuroticism. -anchoring.
confirmation bias.
A step in a customer's journey that involves researching information and comparing alternatives is called
consideration.
A research design consideration that aims to ensure effective sessions by eliminating alternative explanations for your results describes a study's -hypotheses. -controls. - sample. -analysis.
controls
In Matt Ridley's TED Talk, "When ideas have sex," he explains how human progress has resulted from exchange and collaboration. Ultimately, Ridley argues
creativity arises from collective effort rather than individual genius.
What segment is needed to understand the reach of your products?
customer
A sequence of interactions that define a customer's experience with a brand is called a
customer journey
The purpose of a minimum viable product (MVP) is to accelerate
customer learning.
Spencer was excited when he was able to manufacture a graphene coffee cup that could keep coffee hot 20% longer than ceramic cups. He was disappointed, however, when he was unable to find people willing to pay $40 for is a new cup. Which of the following risk related judgments is Spencer facing in this example?
customer risk.
Emotional labor occurs when employees are required to express emotions that they are not actually feeling, such as smiling when they are not actually happy. Emotional labor may have negative consequences for employees and is, therefore, an important experience design issue. Obviously, employees are affected by this design choice, but which of the following stakeholders are also affected and need to be considered when making these design choices?
customers and users
Modularity and modular architectures serve as a platform for creating relative advantage with respect to
customization.
Through his personal research, Michael determined that exercising daily improved his quality of sleep. However, Devin pointed out to Michael that he was the only subject in his research, so exercising daily may not improve quality of sleep for everyone else. Devin is suggesting Michael's experiment may have poor -experiences. -facts. -external validity. -internal validity.
external validity.
The extent to which customers are required to undertake a brand experience on their own describes the experience's
degree of automation
Rebecca took her first step in her experience design process by articulating the characteristics of people she believes are most likely to be enthusiastic about her offerings. Which of the following steps in the experience design process has Rebecca completed?
describing customer personas
Identifying specific interactions a customer has with your brand and offerings is a primary purpose of
describing touchpoints.
Drawing an emotional curve to indicate how customers feel at different points in their brand experiences is a key aspect of
designing customer journeys.
The two ways to differentiate a company within an industry are low cost and high -quality. -forecast. -value. -differentiation.
differentiation.
Product packaging design is an important aspect of experience design that is likely to be especially important to
distribution channels
A process of developing multiple ideas that depart from a single stimulus question is called
divergent thinking.
Best ways to make your ideas tangible?
draw, build, act
Companies often write news releases and send them to local newspapers and TV stations in hopes that they will carry the story. This effort to raise awareness is most directed toward enhancing
earned media
In order for improvisation to promote creativity, an individual needs
exceptional command of fundaments and routines in a task domain.
Borrowing in order to acquire resources you need to develop your creative ideas involves
exchanging something you'll have in the future for something you need now.
Social media is most often used to improve which part of a customer journey?
excitement
Associative processes involving making connections among
existing ideas.
Library databases such as Ibis world and Hoover's that provide industry reports and market segment breakdowns are especially useful when you are researching -emerging markets. -existing markets. -overlapping markets. -new markets.
existing markets.
Which of the following would not be considered a common aspect of experience design?
expanding a companies number of locations
You should not fall in love with ideas, instead you should?
explore alternatives
Which part of a customer journey is most closely associated with growing customer revenue and generating referrals?
extension
Feasibility and affordability experiments that address the question "is the design/interface effective?" are focused most directly on testing -form. -reliability. - function. - manufacturability.
form.
A popular approach to understanding a specific customer experience from your customers' perspective involves
gaining empathy and mapping customer thoughts, feelings, and actions.
If customers can easily compare prices and switch between different products/service offerings, it is likely that the industry will be -relatively stable in the long run. -highly competitive and difficult to earn profits. -highly innovative and profitable. -receptive to new entrants and relatively easy to earn profits.
highly competitive and difficult to earn profits.
To frame problems and suggest solutions, analogical reasoning compares current ideas with
historical precedents.
Competitor analysis is especially important when you are trying to determine -if you have achieved problem/solution fit. -if your solution is novel. -if your offering can be delivered at a profit. -if your solution works.
if your solution is novel.
Evaluating your capabilities, as well as the capabilities of those who might help you, is a key evaluation that should inform your judgment about -technology risk. -financial risk. -market risk. -implementation risk.
implementation risk
Group "process losses" decrease brainstorming group effectiveness because leader dominance and self-censorship limits
individual expression.
Problem framing should _________ with alternative generation.
interact
A step in a customer's journey that might be indicated by clicking on a sponsored link at the top of a Google search result is called
interest.
What is within your User Experience (UX) Design?
interviewing and usability testing
Deciding whether taking another step on an entrepreneurial journey is worth the time, effort, and other resources it requires describes the Creative Action Cycle process of -justifying. -learning. -evaluating. -acting.
justifying
In his TED Talk, Michael Patrick Lynch describes the paradox our society is facing as we have access to more information by saying
know more understand less
Being ethical and sustainable are two considerations that should be made when assessing your value proposition's -legitimacy. -novelty. -cost. -value.
legitimacy.
Addressing the judgment of whether you can offer your solution at a profit is most closely associated with
market risk.
One of the main "takeaways" you should get from this class is that it is critically important to test assumptions about your novel ideas with convergent thinking processes BEFORE spending significant resources developing a new venture proposal. This is how smart entrepreneurs reduce risk. For example, testing assumptions about what customers might pay for your solution (i.e., pricing) is critical for evaluating: -financial risk. -technology risk. -implementation risk. -market risk.
market risk.
With respect to provoking change with novel ideas, you are most likely to get others interested in enrolling with your proposals when they are
moderately novel.
Novel ideas result from
new combinations among existing ideas.
Entrepreneurs who are introducing highly innovative offerings often find that they can't rely on existing industry report, and instead had to develop their own estimates based on researching their customer archetype within the geographical area they plan to serve. This kind of approach to value proposition research is especially important when you are addressing a(n) -overlapping markets. -existing markets. -new markets. -emerging markets.
new markets.
In his TED Talk, Michael Patrick Lynch talks about those who express bad faith towards the truth. He illustrates this by explaining how in most cases "fake news" really means -news stories that don't follow rigorous journalistic practices. -news stories that are faked. -news stories I don't like. -news stories I don't understand.
news stories I don't like.
Creative ideas can change the world by instigating evolutionary change processes that link
novel ideas, stakeholders, and domains.
Creative action cycles describe the process that leads to
novel ideas.
Being unique and defensible are two considerations that should be made when assessing your value proposition's -novelty. -value. -cost. -legitimacy.
novelty.
A firm's competitive advantage results from their strategic positioning as well as their -overhead expenses. -operational effectiveness. -cost of capital. -market growth.
operational effectiveness.
If you intend to help customers by making a service faster and more efficient than alternative offerings, you would create value by offering a relative advantage with respect to
performance.
In Lean Startup Practice, after learning from your customers, you can either -measure or build. -start or stop. -persevere or pivot. -buy or sell.
persevere or pivot.
Addressing the judgment of whether you solve a problem or not is most closely associated with
product risk.
When you determine that people are willing to pay for your solution, you have demonstrated that your proposal has
product-market fit.
It's very important for entrepreneurs to recognize and understand resources around them because the essence of entrepreneurship is to
pursue opportunity even when you lack formal authority or budgets.
An important consideration in experience design is the degree of personal engagement and intimacy customers prefer in their journey with your offerings and brand. Wedding planners who spend time meeting with couples and their families in an effort to develop a highly personal, customized service are pursuing a __________________ approach to customer experiences.
relation
Divergent thinking, associative thinking, and analogical reasoning can help solve problems associated with resource acquisition by inspiring
resourcefulness.
Solutions characterized by low levels of novelty would typically be described as
routine, familiar, or normal.
Alternative generation should be __________ judgment.
separated from
Stores often play subtle music that resonates with their brand identity in an effort to align customer's mindset with the experiences offered by the store's brand. Which of the following senses is most directly addressed by this experience design consideration?
sound
People who are affected by the experiences you design are called
stakeholders
Results of associative processes can vary from
stereotypical to novel.
Our predisposition for persisting with investments even when we have substantial evidence that these are likely to fail refers to a bias called -confirmation bias. -sunk cost fallacy. -failure to launch. -anchoring.
sunk cost fallacy.
Real estate agents will often set out a plate of cookies and bottles of water for people who visit open houses on weekends in an effort to create positive associations with the home and their agency. Which of the following senses is most directly addressed by this experience design consideration?
taste
One method for clearly articulating your research methodology and organizing information from interviews is to employ -audio and video recordings. -test and learning cards. -warm-up questions. -a note taker.
test and learning cards.
According to the Testing with Humans book, it's important to pay attention to outliers when you analyze the results of an experiment because -every individual is unique and special and deserves your attention. -they can provide insights regarding measurement error in your research design. -your biases are likely to overestimate their importance. -they might help you discover new market opportunities.
they might help you discover new market opportunities.
The least credible way, but easiest, way to estimate the size of the target market you hope to address with your value proposition is to estimate the total market for the type of solution you offer and then assume you will acquire a small percentage of the total available market (TAM). This (lazy) approach to market sizing is commonly referred to as -credible market estimates. -TAM-SAM-SOM estimates. -bottom-up market estimates. -top-down market estimates.
top-down market estimates.
An important consideration in experience design is the degree of personal engagement and intimacy customers prefer in their journey with your offerings and brand. Airlines such as Southwest that allow passengers to book their own tickets, print their own passes, and check in their own luggage are pursuing a __________________ approach to customer experiences.
transaction
Which of the following approaches to marketing and purchasing benefit is likely to utilize extensive automation?
transaction
The best way to achieve competitive advantage is to develop a strategic position that is -the least expensive option in your target market. -well-established by competitors. -high with respect to nonprice buyer value delivered. -unique and close to the productivity frontier.
unique and close to the productivity frontier.
Building in order to acquire resources you need to develop your creative ideas involves
using what you have on hand.
Being profitable and scalable are two considerations that should be made when assessing your value proposition's -value. -legitimacy. -cost. -novelty.
value.
The goal in divergent thinking is to maximize the number of
variations produced.
A design thinking tool that applies to all phases of the design thinking process - from "what is?" to "what if?" to "what wows?" to "what works?" - is
visualization.
When deciding on your Customer Experience Strategies, what is essential to understand?
what products and services will you offer
In his TED Talk, Michael Patrick Lynch describes an alternative to "bubble-knowing" wherein one dares to know and understand, thereby risking the possibility of being wrong and discovering that -what you want and what's true are different things. -what you want and what others want are different things. -what you want and what you need are the same things. -what you want and what's true are the same things.
what you want and what's true are different things.
An MVP is a prototype that demonstrates an offerings value
with the least amount of resources and risk.
The number and structure of the steps a customer has to take throughout a customer journey is called the experience's
workflow.
Feasibility and affordability tests are especially important considerations for determining whether you should proceed, pivot, or punt because they address whether -your solution works. -customers think your solution is more valuable in alternatives. -you are addressing a serious problem or need. -your solution is novel.
your solution works.
