Answering: “Your company has many unique variations of the same product that it sells to different customers. Maintaining all these versions leaves you no time to improve the product. What Key Value Area measure(s) should you examine to help you to improve your effectiveness at delivering value?”

Your company has many unique variations of the same product that it sells to different customers. Maintaining all these versions leaves you no time to improve the product. What Key Value Area measure(s) should you examine to help you to improve your effectiveness at delivering value?
(choose the best answer)
A. Ability to Innovate.
B. Unrealized Value.
C. Time to Market.
D. Current Value.
E. All of the above.

Answering: “Your company has many unique variations of the same product that it sells to different customers. Maintaining all these versions leaves you no time to improve the product. What Key Value Area measure(s) should you examine to help you to improve your effectiveness at delivering value?” Read More »

Answering: “Product A has a very high customer satisfaction and commands the largest share of the market. Product B has low customer satisfaction and low market share, but is in a growing market in which no other competitor has significant market share. Which product should you prioritize in funding?”

Product A has a very high customer satisfaction and commands the largest share of the market. Product B has low customer satisfaction and low market share, but is in a growing market in which no other competitor has significant market share. Which product should you prioritize in funding?
(choose the best answer)
A. Product A.
B. Product B.

Answering: “Product A has a very high customer satisfaction and commands the largest share of the market. Product B has low customer satisfaction and low market share, but is in a growing market in which no other competitor has significant market share. Which product should you prioritize in funding?” Read More »

Answering: “Your organization produces 5 products, and it has some new ideas for new products that it would like to try. How should it allocate its development budget?”

Your organization produces 5 products, and it has some new ideas for new products that it would like to try. How should it allocate its development budget?
(choose the best answer)
A. Fund products based on cost estimates for the features that executives think are most important.
B. Fund products based on a percentage of revenue they produce, with a fixed amount set aside for new ideas.
C. Fund products and new ideas based on the gap between their current value and their unrealized value.

Answering: “Your organization produces 5 products, and it has some new ideas for new products that it would like to try. How should it allocate its development budget?” Read More »

Answering: “You have heard that the best way to understand whether a proposed solution is valuable is to run small experiments to test the concept with potential customers. You CFO feels that the organization cannot afford to run experiments because they are too expensive. How do you respond to your CFO?”

You have heard that the best way to understand whether a proposed solution is valuable is to run small experiments to test the concept with potential customers. You CFO feels that the organization cannot afford to run experiments because they are too expensive. How do you respond to your CFO?
(choose the best answer)
A. Stakeholder reviews eliminate the need to run most experiments, so experiments are not needed very often.
B. Spending a small amount of money to validate a solution is much less expensive than developing a product that fills no customer needs.
C. Since experiments are usually based on market research, they will probably be successful anyway and the money will not be wasted.
D. Experiments are only needed for new product concepts, not existing products, so they are not needed very often.

Answering: “You have heard that the best way to understand whether a proposed solution is valuable is to run small experiments to test the concept with potential customers. You CFO feels that the organization cannot afford to run experiments because they are too expensive. How do you respond to your CFO?” Read More »

Answering: “You have a product that has been highly successful, has very happy customers (very low satisfaction gaps), and commands enviable market share. What should you do to protect and increase your organization’s success?”

You have a product that has been highly successful, has very happy customers (very low satisfaction gaps), and commands enviable market share. What should you do to protect and increase your organization’s success?
(choose the best answer)
A. Continue to enhance the product, adding features to keep the product’s customers happy.
B. Implement new features that will increase customer lock-in to protect market share.
C. Use profits from the product to buy competitor organizations to increase your market share.
D. Use profits from the product to look for new markets with larger satisfaction gaps.

Answering: “You have a product that has been highly successful, has very happy customers (very low satisfaction gaps), and commands enviable market share. What should you do to protect and increase your organization’s success?” Read More »

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