CX Exam with 100% correct solutions 2024

Market) = the sector's entire revenue opportunity -SAM (Service Addressable Market) = what part of the TAM is being served -SOM (Serviceable Obtainable Market) = What share of the SAM can be captured What are the ways of calculation TAM? correct answers1. Top down approach (primary) - MACRO factors at top 2. Bottom up approach (primary) - Start at sunset, expand up 3. Value theory (primary) A market = ____+______ correct answersactual + potential buyers 3 market definitions correct answersMarket Definition #1 - Substitution Market Definition #2 - Common Needs (job-to-be-done) Market Definition #3 - Product-Based Two roles of marketing (as defined in CX) correct answers• Needs: Occurs when a person feels deprived of basic necessities • Wants: A need that is shaped by a person's knowledge, culture, and personality 5 layers of Maslow's correct answersPhysiological, safety, love/belonging, esteem, self-actualization Reasons to define markets: for business correct answersDefining scope of their market provides a framework for the operations 1st step in the market segmentation process correct answersdefine your market 4 values (same as Brand) correct answersEconomical, functional, experiential, social Challenges for B2B marketing: external correct answersCulture Government Reference Groups Marketing Activities Challenges for B2B marketing: internal correct answersOrganizational Values Perceptions Learning Motives Emotions