Understanding High-Tech Customers

Understanding High-Tech Customers

University

18 Qs

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Understanding High-Tech Customers

Understanding High-Tech Customers

Assessment

Quiz

Business

University

Practice Problem

Hard

Created by

Guzairy Ghani

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the 4 steps in the product development process?

Research, Design, Test, Launch

Analyze, Develop, Market, Sell

Prototype, Evaluate, Modify, Produce

Ideate, Plan, Create, Distribute

Answer explanation

The correct steps in the segmentation process are Divide, Profile, Evaluate, Position.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a common characteristic used to divide market segments?

Demographics

Technographics

Behavioral Variables

Geographics

Answer explanation

Technographics is NOT a common characteristic used to divide market segments.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of profiling the customers in each segment?

To eliminate competition in the market

To increase the price of the product

To understand the needs and behaviors of each segment

To identify the most profitable segment

Answer explanation

The main purpose of profiling customers in each segment is to understand their needs and behaviors, allowing for targeted marketing strategies and product development.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Abigail is a marketing manager at a tech company. She is evaluating and selecting a target market for their new product. What factors should Abigail consider?

Marketing budget

Size of segment, Growth rate, Competition, Firm capabilities

Price of the product only

Customer preferences only

Answer explanation

When evaluating and selecting a target market, factors such as size of segment, growth rate, competition, and firm capabilities should be considered to ensure a successful marketing strategy.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the importance of positioning a new smartphone within the market segment?

To reduce the weight of the smartphone

To confuse customers with unnecessary features

To increase the price of the smartphone

To differentiate the smartphone from other brands

Answer explanation

Positioning the product within the segment helps differentiate it from competitors, making it stand out in the market and appealing to specific customer needs.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can a software company help its customers transition to a new version of their product?

Provide no support for the transition

Immediately discontinue the older version

Offer only the new version for sale

Offer both the old and new versions concurrently

Answer explanation

Selling old and new generations simultaneously allows high-tech firms to manage a migration path for customers to transition smoothly to the new technology.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What influences a customer's decision to switch to a new technology?

Price hikes only

Expectations regarding enhancements compared to price

Customer allegiance

Market competition

Answer explanation

Customers base their decision to migrate to a new technology on their expectations of improvements relative to price, rather than just price increases alone.

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