Mastering Customers and Markets
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Questions and Answers

Which term refers to a whole group of buyers for a product and/or services?

  • Entrepreneurship
  • Market sizing
  • Market (correct)
  • Customer journey map

    • What is the majority of customers' primary consideration when buying a product or availing of a service?

  • Experience
  • Design
  • Price (correct)
  • Functionality

    • Which factor is NOT mentioned as something customers look for when buying a product or availing of a service?

  • Compatibility
  • Reliability
  • Quality (correct)
  • Convenience

    • What is market sizing?

    <p>The process of determining the size of a market</p> Signup and view all the answers

    What should a product's design always be according to the text?

    <p>Functional</p> Signup and view all the answers

    Which of the following is NOT mentioned as a factor that customers look for when buying a product or availing of a service?

    <p>Functionality</p> Signup and view all the answers

    What is the primary consideration for the majority of customers when buying a product or availing of a service?

    <p>Price</p> Signup and view all the answers

    What should products and/or services prioritize in order to attract customers?

    <p>Availability</p> Signup and view all the answers

    What is market sizing?

    <p>The process of determining the size of a market</p> Signup and view all the answers

    What does the term 'market' refer to?

    <p>A place where manufacturers, distributors, and retailers sell and consumers buy</p> Signup and view all the answers

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