Business Framework Recap and Marketing
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Questions and Answers

What is the framework for business?

  • Put the customer at the center of the experience
  • Create a strong brand identity
  • Maximize profit & shareholder value (correct)
  • Develop products based on customer needs

    • What does 'flipping the lens' mean?

  • Focusing on what companies want to sell to customers
  • Creating a strong brand promise
  • Empathy - putting yourself in the customer’s shoe (correct)
  • Developing products from the wrong perspective

    • Why did McDonald’s ask 'Would you like some fries with that shake'?

  • To understand the actual customer behavior (correct)
  • To improve their milkshake by adding fruits
  • To make their milkshake more chocolate-y
  • To develop products based on customer needs

    • What do businesses focus too much on, according to the text?

    <p>What companies want to sell to their customers</p> Signup and view all the answers

    What is the main reason for many products to fail, according to the text?

    <p>Companies focus too much on what they want to sell to customers</p> Signup and view all the answers

    What is the main goal of businesses?

    <p>To maximize profit &amp; shareholder value</p> Signup and view all the answers

    In the context of marketing, what does 'flipping the lens' mean?

    <p>Putting the customer at the center of the experience</p> Signup and view all the answers

    What perspective do many companies develop their products from, according to the text?

    <p>Company-centric perspective</p> Signup and view all the answers

    What is the role of a brand, according to the text?

    <p>To be a promise to customers</p> Signup and view all the answers

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