Question 1

Smaller firms can track trends at no or nominal cost by using ______________ tools.

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Question 2

The division of a market into several portions that are different from each other is known as___________.

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Question 3

___________________refers to a service approach which hopes to build a long-term sustainable relationship with customers.

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Question 4

How would you define customer value?

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Question 5

A recent study indicated that R&D performance at smaller companies ________________ than comparable performance at larger U.S. firms.

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Question 6

A measure of the revenue generated by the customer, the cost generated for that particular customer and the projected retention rate of that customer over their lifetime is also known as the _____________.

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Question 7

___________ refers to the situation in which a vendor's software does not reside on the small businesses.

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Question 8

What are the different types of perceived costs?

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Question 9

Why is customer value important?

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Question 10

The discounting value of future cash flows minus the original investment is also known as the ____________.

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Question 11

The element of cost that can be associated with factors that might do stress in the customer is known as the _________ component.

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Question 12

A technique that is associated with the concept of Voice of the Customer (VOC) which is used to design new products and services or to improve existing ones by exploring how well individual activities are meeting those desires is known as ____________.

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Question 13

Epistemic value is generated by a sense of_____________.

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Question 14

One reason why smaller firms may be more innovative than their larger competitors is that small firms have less _________.

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Question 15

What are the different types of customer value?

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Question 16

_________ is the basis of value that is derived from the ability to evoke an affective response.

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Question 17

One way smaller firms can compete with larger competitors is by being better at the process of _____________.

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Question 18

A basis of value that is derived from a particular context or socio-cultural setting is known as _______________.

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Question 19

Components that consist of the purchase, operating, service, switching and opportunity cost associated with any product or service is known as the ___________of cost.

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Question 20

An attempt to identify the real wants and needs of the customer is sometimes referred to as the ________________.

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Quiz 2: Your Business Idea: the Quest for Value