BMBA 5009 Chapter 13 Exam Updated
Actual Questions and CORRECT Answers
Continuous development - CORRECT ANSWER A software development approach
where an organization's developers release products, features, and updates in shorter cycles,
when ready, rather than wait for centrally managed delivery schedules.
Paid media - CORRECT ANSWER Refers to efforts where an organization pays to
leverage a channel or promote a message. Paid media efforts include things such as
advertisement and sponsorships.
Minimum viable product (MVP) - CORRECT ANSWER A bare-bones offering that
allows entrepreneurs and product developers to collect customer feedback and to validate
concepts and assumptions that underlie a business idea.
Demand pricing - CORRECT ANSWER Pricing that shifts over time (also known as
dynamic pricing), usually based on conditions that change demand (e.g., charging more for
high-demand items with limited availability).
Churn rate - CORRECT ANSWER The rate at which consumers leave a product or
service.
Customer acquisition costs - CORRECT ANSWER The amount of money a firm
spends to convince a customer to buy (or in the case of free products, try or use) a product or
service.
Social proof - CORRECT ANSWER The positive influence created when someone
finds out that others are doing something.
Product-market fit - CORRECT ANSWER A key concept in entrepreneurship and new
product development that conveys the degree to which a product satisfies market demand.
Successful efforts should be desired by customers, and scale into large, profitable businesses.
Actual Questions and CORRECT Answers
Continuous development - CORRECT ANSWER A software development approach
where an organization's developers release products, features, and updates in shorter cycles,
when ready, rather than wait for centrally managed delivery schedules.
Paid media - CORRECT ANSWER Refers to efforts where an organization pays to
leverage a channel or promote a message. Paid media efforts include things such as
advertisement and sponsorships.
Minimum viable product (MVP) - CORRECT ANSWER A bare-bones offering that
allows entrepreneurs and product developers to collect customer feedback and to validate
concepts and assumptions that underlie a business idea.
Demand pricing - CORRECT ANSWER Pricing that shifts over time (also known as
dynamic pricing), usually based on conditions that change demand (e.g., charging more for
high-demand items with limited availability).
Churn rate - CORRECT ANSWER The rate at which consumers leave a product or
service.
Customer acquisition costs - CORRECT ANSWER The amount of money a firm
spends to convince a customer to buy (or in the case of free products, try or use) a product or
service.
Social proof - CORRECT ANSWER The positive influence created when someone
finds out that others are doing something.
Product-market fit - CORRECT ANSWER A key concept in entrepreneurship and new
product development that conveys the degree to which a product satisfies market demand.
Successful efforts should be desired by customers, and scale into large, profitable businesses.
