BU121 Sample Final Exam 2024 (All Answered)

What stage of IDEATE involves thinking about other problems that your original idea's target market would be looking to solve? a) Identify b) Target c) Enhance d) Discover correct answers b) Target Companies like Uber and Lime having their business ideas based on the social trend of "access instead of ownership" is an example of which stage in the IDEATE process? a) Discover b) Anticipate c) Enhance d) Target correct answers b) Anticipate ; they used their good ol' PEST factors and figured it out The goal of the VPD process is to find: a) Problem-solution fit b) Migraine Headache Problem c) Feasible Idea d) the next Facebook correct answers a) The Problem-Solution Fit When conducting customer interviews, why should you avoid interview your friends and family? a) They're smarter than you b) They are not your target customer c) Confirmation bias d) It's too small of a sample correct answers c) Confirmation bias ; they are just going to tell you what they think you want to hear Which of these is not a criteria for a just cause? a) Unmeasurable b) Idealistic c) Profitable d) Service-oriented correct answers c) Profitable In class, two magazines were brought up as examples of the same product with completely different business models. One sold advertisements and the other was a subscription. What differing customer segments do each serve respectively ? 1) Both readers looking for quality content 2) Advertisers and Readers looking for quality content 3) Only advertisers 4) Advertisers and People with a lot of Money to spend correct answers b) Advertisers and readers looking for quality content