Customer Needs and Decision Making in Business

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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?

Knowing the topic thoroughly and being fully prepared (A) Signup and view all the answers

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

By presenting creative and inspiring ideas (C) Signup and view all the answers

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

To have a brainstorming session for company improvement (D) Signup and view all the answers

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

Ideas that are absolutely necessary, ideas with undecided value, ideas with no value (D) Signup and view all the answers

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

They proceed to the next round (A) Signup and view all the answers

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

Participants receive sticky points to vote on their favorite ideas (D) Signup and view all the answers

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

Market price and profit margin (D) Signup and view all the answers

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

Osterwalder's canvas (D) Signup and view all the answers

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

To prioritize ideas based on their perceived value (D) Signup and view all the answers

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

Identifying and meeting customer needs (D) Signup and view all the answers

What is market validation?

Validating product interest in a target market (B) Signup and view all the answers

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

It is possible to know all customers' wants (D) Signup and view all the answers

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

As the success of a business depends on the decision-making process (B) Signup and view all the answers

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

Utilization of data from surveys, interviews, and market research (B) Signup and view all the answers

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

To identify and meet specific customer requirements (D) Signup and view all the answers