You believe you have identified a new opportunity but you have many questions you still need to answer before you are confident in significant investment. What is the most reliable way to learn more?
(choose the best answer)
A. Solicit the opinions of stakeholders about the opportunity’s potential value.
B. Run some small experiments to test and expand your understanding of the opportunity.
C. Hire an outside market research firm to assess the potential size of the opportunity.
D. All of the above.

Which Key Value Area best measures market potential?
(choose the best answer)
A. Unrealized Value.
B. Current Value.
C. Time-to-Market.
D. Ability to Innovate.
E. None of the above.

You are accountable for a product with diverse stakeholders with different opinions that sometimes conflict. Your Director of Marketing strongly believes that you should add a major new feature to reach a new market. Your CEO believes that the new feature is too expensive and thinks you should focus on other features to make existing customers happier.
You think both perspectives have merit, but you cannot do both. How should you proceed?
(choose the best answer)
A. Trust the CEO’s opinion and focus on current customers since you cannot afford unhappy customers.
B. Better understand the positions of other stakeholders to gather more information, then make a decision.
C. Build some small part of the proposed solution to gather data to better understand the new market and its potential.
D. Trust the Director of Marketing’s opinion and add the features; when revenues increase, you will be vindicated.

Your organization’s stated strategy is to “be the service provider of choice” to your customer. How could this statement be improved to make it a more effective goal?
(choose the best answer)
A. Define how the organization will measure whether it is the “service provider of choice.”
B. Set specific targets for market share it needs to achieve.
C. Understand customer desired outcomes and satisfaction gaps to better articulate the value it provides.
D. All of the above.

Which of the following would provide the most valuable insight into the potential value that your product could, but does not yet, deliver?
(choose the best answer)
A. Customer satisfaction surveys showing what they like about the product.
B. Market share analysis that shows competitors and their market shares.
C. Interviews with people who tried your product but did not buy it.
D. Customer testimonials about why they chose your product.
E. All of the above.

True or False: In situations where measuring customer satisfaction is difficult, measuring the satisfaction of internal stakeholders is an adequate substitute.
A. True
B. False