MHR 322 CORRECT FINALS ANSWERS AND
QUESTIONS SET A+
✔✔A quantifiable value proposition goes into detail on technology, features, and
functions. - ✔✔False
✔✔The Five Forces are: - ✔✔Buyer power, supplier power, threat of new entry, rivalry,
and substitutes
✔✔Imagine the following scenario. Your company (Green Gamer LLC) has created an
attachment for Xboxes that will reduce power consumption by 90% without any decline
in performance. Assuming that all US Xbox owners can use it, please calculate the TAM
(Total Addressable Market) using the following assumptions:
- Installed US base of X-boxes is 100 million units
- Attachment will sell for $15/unit
- Cost is $10/unit
- Profit is $5/unit
- Your current market share for an existing product (a green colored controller) is 50% -
✔✔1,500 million
✔✔A utility patent (the most common type) provides protection for 20 years from: -
✔✔the filing date of the earliest application submitted to the USPTO
✔✔All of the following are valid reasons that students (or any people) are interested in
entrepreneurship EXCEPT: - ✔✔-The person has an idea that can change the world, or
at least some small part of it, in a positive way.
-The person wants to earn as much money as possible as quickly as
possible.(ANSWER)
-The person has a passion, is comfortable developing skills, and might want to control
his/her own destiny.
-The person has come up with a technological breakthrough and wants to capitalize on
it or expedite how quickly it is deployed.
, ✔✔Brainstorming efforts during market segmentation should: - ✔✔Identify potential
end-users who would benefit from the innovation, think about the tasks they perform,
and talk to them to get clear and accurate feedback.
✔✔Choosing a single, beachhead market is important because it means that you will
have the most options available in case you mis-analyze your customer need. -
✔✔FALSE
✔✔When thinking about customers, the "decision-making unit" is: - ✔✔The individual(s)
who decide whether the customer will buy your product.
✔✔A full life cycle use case identifies: - ✔✔How the user acquires and uses your
product and determines whether to purchase it again.
✔✔One possible result of interviewing 10 high-potential customers is discovering that
there is a better Persona for your product than you previously identified. - ✔✔TRUE
✔✔A good reason to generate a customer persona is to: - ✔✔Keep the team and
organization focused on the target customer type and how the customer makes
decisions
✔✔A patent is the only way to protect Intellectual Property - ✔✔FALSE
✔✔The right place to start when you want to build a business is - ✔✔Finding an unmet
need
✔✔"china syndrome is" - ✔✔thinking sucess is getting a small share of a large market
✔✔Best market targeting advice for a start-up - ✔✔Apply your limited recourses to a
narrow, carefully defined new market that you can dominate
✔✔A good time for market segmentation research is a few weeks or maybe a bit longer
if your situation permits - ✔✔True
✔✔In choosing a beachhead marktet, it is better to start with a less than perfect market
rather than spending time and money finding perfect - ✔✔True
✔✔Your first beachhead market will likely be a learning experience, so it is generally
better to pick a maller market where you can get high exposure among customers -
✔✔True
✔✔one factor that defines a market - ✔✔customers all have simlar sale cycle and
expect products to provide value in similar ways.
QUESTIONS SET A+
✔✔A quantifiable value proposition goes into detail on technology, features, and
functions. - ✔✔False
✔✔The Five Forces are: - ✔✔Buyer power, supplier power, threat of new entry, rivalry,
and substitutes
✔✔Imagine the following scenario. Your company (Green Gamer LLC) has created an
attachment for Xboxes that will reduce power consumption by 90% without any decline
in performance. Assuming that all US Xbox owners can use it, please calculate the TAM
(Total Addressable Market) using the following assumptions:
- Installed US base of X-boxes is 100 million units
- Attachment will sell for $15/unit
- Cost is $10/unit
- Profit is $5/unit
- Your current market share for an existing product (a green colored controller) is 50% -
✔✔1,500 million
✔✔A utility patent (the most common type) provides protection for 20 years from: -
✔✔the filing date of the earliest application submitted to the USPTO
✔✔All of the following are valid reasons that students (or any people) are interested in
entrepreneurship EXCEPT: - ✔✔-The person has an idea that can change the world, or
at least some small part of it, in a positive way.
-The person wants to earn as much money as possible as quickly as
possible.(ANSWER)
-The person has a passion, is comfortable developing skills, and might want to control
his/her own destiny.
-The person has come up with a technological breakthrough and wants to capitalize on
it or expedite how quickly it is deployed.
, ✔✔Brainstorming efforts during market segmentation should: - ✔✔Identify potential
end-users who would benefit from the innovation, think about the tasks they perform,
and talk to them to get clear and accurate feedback.
✔✔Choosing a single, beachhead market is important because it means that you will
have the most options available in case you mis-analyze your customer need. -
✔✔FALSE
✔✔When thinking about customers, the "decision-making unit" is: - ✔✔The individual(s)
who decide whether the customer will buy your product.
✔✔A full life cycle use case identifies: - ✔✔How the user acquires and uses your
product and determines whether to purchase it again.
✔✔One possible result of interviewing 10 high-potential customers is discovering that
there is a better Persona for your product than you previously identified. - ✔✔TRUE
✔✔A good reason to generate a customer persona is to: - ✔✔Keep the team and
organization focused on the target customer type and how the customer makes
decisions
✔✔A patent is the only way to protect Intellectual Property - ✔✔FALSE
✔✔The right place to start when you want to build a business is - ✔✔Finding an unmet
need
✔✔"china syndrome is" - ✔✔thinking sucess is getting a small share of a large market
✔✔Best market targeting advice for a start-up - ✔✔Apply your limited recourses to a
narrow, carefully defined new market that you can dominate
✔✔A good time for market segmentation research is a few weeks or maybe a bit longer
if your situation permits - ✔✔True
✔✔In choosing a beachhead marktet, it is better to start with a less than perfect market
rather than spending time and money finding perfect - ✔✔True
✔✔Your first beachhead market will likely be a learning experience, so it is generally
better to pick a maller market where you can get high exposure among customers -
✔✔True
✔✔one factor that defines a market - ✔✔customers all have simlar sale cycle and
expect products to provide value in similar ways.
