Answered: An entrepreneur has the following…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

An entrepreneur has the following characteristics EXCEPT:

Select one:

a. Accepts risks or failure

b. Initiative-taker

c. Organized

d. Apathy

General Foods' introduction of a compact cereal box in response to the problem that the available boxes did not fit well on the shelf was not successful, as the problem of package size had little effect on actual purchasing behavior. To ensure the best results, this method should be used primarily to identify product ideas for further evaluation.

Select one:

a. Customer Survey

b. Focus Groups

c. Problem Inventory Analysis

d. Brainstorming

Although there is some variation in the distribution of adopters of new technology products and services, the single most common pattern is a

Select one:

a. Poisson Distribution

b. Binomial Distribution

c. Beta Distribution

d. Normal Distribution

In order to cross the gap and reach the take-off stage, the most important aspect is that you must:

Select one:

a. Promote your product more

b. Develop a complete solution to your customers' problems

c. Offer pieces and bits of technology to customers

d. Lower the price in order to attract more market

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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