Customer Needs and Decision Making in Business
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Questions and Answers

What is the purpose of tracking the results in terms of Return on Investment (ROI) according to the text?

  • To calculate the company's social media engagement rate
  • To measure profitability and assess the impact of new product releases (correct)
  • To evaluate the effectiveness of staff training programs
  • To monitor employee attendance and punctuality
  • What could be a non-financial way to motivate employees according to the text?

  • Promoting competitive work environments
  • Offering financial bonuses based on sales targets
  • Increasing their monthly salary
  • Providing recognition for a job well done (correct)
  • Why is idea presentation considered a challenge, according to the text?

  • As it is uncertain if the audience will listen and be interested (correct)
  • Because audiences are always disinterested
  • Because presenters are not allowed to use visual aids
  • Due to lack of topics to present about
  • What is emphasized as essential for a successful presentation in the text?

    <p>Knowing the topic thoroughly and being fully prepared</p> Signup and view all the answers

    How can organizations inspire their audience during presentations, as suggested in the text?

    <p>By presenting creative and inspiring ideas</p> Signup and view all the answers

    Why should organizations value the presence of customers and sales members according to the text?

    <p>To have a brainstorming session for company improvement</p> Signup and view all the answers

    What are the three classes in the ABC analysis used for idea evaluation?

    <p>Ideas that are absolutely necessary, ideas with undecided value, ideas with no value</p> Signup and view all the answers

    What happens to A-ideas in the decision-making process described?

    <p>They proceed to the next round</p> Signup and view all the answers

    How is the 'dots gluing' method utilized in the idea selection process?

    <p>Participants receive sticky points to vote on their favorite ideas</p> Signup and view all the answers

    Which of the following is NOT a criterion used in the detailed analysis of ideas?

    <p>Market price and profit margin</p> Signup and view all the answers

    What method can be used for evaluating new business models in the innovation process?

    <p>Osterwalder's canvas</p> Signup and view all the answers

    In the idea selection process, what is the purpose of categorizing ideas into A, B, and C classes?

    <p>To prioritize ideas based on their perceived value</p> Signup and view all the answers

    What is the primary focus of an innovative leader in a business?

    <p>Identifying and meeting customer needs</p> Signup and view all the answers

    What is market validation?

    <p>Validating product interest in a target market</p> Signup and view all the answers

    Which of the following is a myth about customer needs according to Figure 2.2?

    <p>It is possible to know all customers' wants</p> Signup and view all the answers

    Why is decision-making considered an enormous task for a business according to the text?

    <p>As the success of a business depends on the decision-making process</p> Signup and view all the answers

    What does market research and validation demand according to the text?

    <p>Utilization of data from surveys, interviews, and market research</p> Signup and view all the answers

    Why should an innovative leader undergo thorough research according to the text?

    <p>To identify and meet specific customer requirements</p> Signup and view all the answers

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