Entrepreneurship 3: Growth Strategies Coursera Quiz Answers

All Weeks Entrepreneurship 3: Growth Strategies Coursera Quiz Answers

Start-ups are designed to grow quickly, but successful start-ups grow smart. This course is designed to provide you with an understanding of the essential elements of successful scaling, including an overview of demand generation, customer acquisition, adoption, diffusion, and forecasting demand.

You’ll also learn how to market effectively using best practices of digital marketing, social media, PR, SEO, and pricing. Finally, you’ll cover the nuts and bolts of building a sales process, partnerships, and supply relationships, and examine the crucial components of attracting, developing, and retaining talent.

By the end of this course, you’ll have an outline of an expansion strategy for your idea or enterprise, and also be ready for Entrepreneurship 4: Financing and Profitability.

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Table of Contents

Entrepreneurship 3: Growth Strategies Week 1 Quiz Answers

Quiz 1: Acquiring Customers and Forecasting Demand Quiz

Q1. What is the name of the model that can determine success or failure of a new idea?

  • None of the answers are correct
  • Subscription Model
  • Accord Model
  • Disruptive Model
  • Bait and Hook Model

Q2. When determining if an idea is too risky, which two factors would you want to consider in its adoption? (select all that apply)

  • Economic risk
  • Supply risk
  • Social risk
  • Political risk

Q3. If you are trying to acquire evidence of success of a product or service, what method could be beneficial?

  • Sales data
  • Testimonials
  • Scientific studies
  • None of the answers are correct
  • Free trials or samples

Q4. Which of the following is NOT a recommended method to solve the “chicken and egg” liquidity challenge?

  • Set price to maximize revenue for each customer type individually
  • Leverage influencers with a large base of followers
  • Manually match supply and demand
  • Obtain supply from other marketplaces

Q5. Which of the following is an adopter category according to Rogers and Moore?

  • Laggards
  • Early Adopters
  • Late Majority
  • All of these are true
  • Innovators
  • Early Majority

Q6. Which of the following is one of Rogers’ five factors of innovation that can help explain differences in adoption rates?

  • Price
  • Visibility
  • Competitive Positioning
  • Scalability

Q7. Which of the following is NOT a key insight with respect to the rate at which a product will diffuse?

  • All of these are key insights
  • Time to take off is typically much longer than expected for new category products
  • It is possible to modify some of the attributes through design choices
  • Some innovations will never take off

Q8. Which of the following is NOT a component of the ACCORD model?

  • Built in Compatibility with what customers already do
  • Low Risk of failure (functional, social, and financial risk)
  • Relative Advantage of the product or service over the status quo
  • Manufacturing Complexity and supply chain infrastructure required

Q9. Which of the following is likely NOT an effective tool to collect qualitative data to help with the beginning of the demand forecasting process?

  • In-depth interviews
  • Groups
  • Web survey chat
  • Online forums
  • Customer purchasing data

Q10. Which statement best exemplifies rules and methods that an entrepreneur should follow when forecasting demand?

  • Given that this is a new product, do not focus on demand forecasting at the outset
  • None of these are true
  • Focus only on regression analysis or other quantitative tools to forecast demand
  • Effectively combine qualitative information, subject matter experts, and causal method

Entrepreneurship 3: Growth Strategies Week 2 Quiz Answers

Quiz 1 :Marketing and PR Quiz


Q1.
Which of the following is NOT an example of owned media in the context of digital marketing strategies (check all that apply)?

  • Shares/retweets/mentions
  • Website
  • Display / banner ads
  • Social Media Channels

Q2. Which of the following describes the benefit of recommender systems to firms that employ them?

  • Convert browsers to buyers
  • Increase loyalty
  • All of these are benefits of recommender systems
  • Cross-sell

Q3. What best describes an effective digital market strategy?

  • A focus on earned media only as customers willingly discussing or promoting your product is the most powerful type of marketing
  • A focus on owned media as it is the only medium that a company can control entirely.
  • A combination of owned, earned, and paid media that selects individual elements that are well suited for the specific product and target customer
  • None of these are true

Q4. Which of the following is NOT a main function of search engines?

  • Rank pages best on the quality of design (selecting)
  • In response to a query, determine which pages match, and rank order them (ranking and display)
  • Gather all pages on the web (crawling or spidering)
  • Organize the contents of the pages to allow easy looking (indexing)

Q5. Which of the following tools is likely to increase a website’s likelihood of being effectively indexed?

  • Mention important keywords prominently on your website
  • Choose only keywords with low competition
  • All of these are true
  • Seek to create unique keywords in order to stand out from competition

Q6. What does “inlinks” refer to in the context of SEO ranking?

  • Links from your website to other websites
  • None of these are true
  • Price
  • Links to your website from other websites

Q7. Which of the following is NOT a benefit of using display ads?

  • Reach
  • Inventory availability
  • Range of formats
  • Consumer response rates

Q8. How is the QualityScore of an ad determined?

  • Based on the ad position and actual cost-per-click
  • None of these are true
  • Based on factors including historical click through rate, advertising copy, and landing page quality.
  • The cost at which you purchase an ad

Q9. Which of the following is NOT an advantage of Public Relations?

  • Ability to reach large existing audiences
  • Credibility
  • Easy to scale
  • High engagement
  • No direct costs (as with paid advertising)

Q10. How is the top of the Media “Food Chain” characterized?

  • None of these are true
  • By influential blogs like the Huffington Post that have a large, quick, continuous reach to broad populations.
  • By product review websites that allow customers to voice their own unfiltered opinions and directly impact the views of other customers.
  • By large publications such as The New York Times / Financial Times / Wall Street Journal that have tremendous credibility and large readership bases

Entrepreneurship 3: Growth Strategies Week 3 Quiz Answers

Quiz 1 :Cost Structures, Pricing, and Tracking Quiz

Q1. Assume you produce a product that sells at retail for $120. You have negotiated a 40% retailer margin and you have set a 35% target gross margin as the brand owner. What is the maximum cost of goods for your product to sustain that target gross margin?

  • $35.30
  • $42.00
  • $46.80
  • $54.10

Q2. In the example in Q2.  1, what is the retailer’s “mark up” (rounded to the nearest whole percentage)?

  • 72%
  • 44%
  • 67%
  • 55%

Q3. “SG&A” stands for:

  • Stock, Grade, and Administrative
  • Sales, Guarantees, and Attributes
  • Sales, General, and Administrative
  • Selling, General, and Accounting

Q4. Price Elasticity of demand is calculated by:

  • The % change in quantity divided by the % change in price
  • The change in quantity divided by the change in price
  • The % change in price divided by the % change in quantity
  • The change in price divided by the % change in quantity

Q5. Using surveys to measure price sensitivity is not always the best approach because: (select all that apply)

  • It can be done too quickly
  • It does not measure purchasing behaviors
  • It cannot measure how much people will buy, only if they will
  • It does not take into consideration the prices of your competitors

Q6. You are a start-up attempting to measure price sensitivity. Effective strategies to do so might include (check all that apply):

  • Conduct a survey in which customers are given a price for your product and asked “Would you be willing to pay this price for the product?”
  • Conduct a conjoint analysis that examines price while holding other variables constant
  • Conduct a survey in which customers are given different price points for your product and asked to rate their likeliness to pay that price on a 1 to 7 scale, with 1 representing “very unlikely” and 7 representing “very likely”
  • Measure price elasticity by running regression analyses on historical sales data

Q7. What are the three different approaches to measuring maximum willingness to pay? (select all that apply):

  • Conjoint Analysis
  • economic value to the customer
  • maximum % that you can discount a product or service
  • Van Westerndorp Method

Q8. Which of the following benefits can a start-up offer to a potential sales partner?

  • Complimentary products
  • Revenue
  • All of these are true
  • Brand attributes

Q9. The benefits of “buying” from others as an entrepreneur include (check all that apply):

  • It can lead to a more efficient division of labor
  • It is a useful “results based” strategy when production processes are uncertain
  • It contributes to an internal “learning curve” in the production process
  • It tends to involve fewer transaction costs than “making”

Q10. Imagine a start-up, ABC Co., begins by “making” its products, which require a specialized manufacturing process. This “in house” production has led to decreased uncertainty in production. ABC Co. then decides to explore “buying” its products as a means to cut costs. If ABC Co. has grown significantly, which of the following is most likely to be true:

  • Potential third party producers are more likely to invest in the specialized process required to manufacture ABC Co.’s products
  • If a third party was to be engaged, a high frequency of transactions with the third party will lead to increased transaction costs
  • The complexity of the transaction is not an important factor in deciding whether to switch to a “buy” model
  • Potential third party producers are less likely to invest in the specialized processes required to manufacture ABC Co.’s products

Entrepreneurship 3: Growth Strategies Week 4 Quiz Answers

Quiz 1 :Creating and Scaling Company Culture Quiz

Q1. Which of the following are strategies or methods that are helpful in the interview process?

  • All of these are true
  • Ask historical   s and understand past performance
  • Ask behavioral and hypothetical   s
  • Have as many interviewees as possible

Q2. Which of the following is NOT a tactic to help maintain performance of existing employees?

  • Make feedback forward looking
  • Limit feedback to informal conversations to build rapport
  • Have a formal review process
  • Implement a 360 feedback process

Q3. Based on the Stanford Project on Emerging Companies, which of the following was found to be a key basis of attachment and retention?

  • All of these are true
  • Compensation
  • Community
  • Qualities of the task

Q4. Which of the following is NOT a key characteristic of the Star model?

  • Focus on compensation
  • Control is professional
  • Attachment to work
  • Selection is stars/top talent

Q5. Which of the following models is characterized by a focus on cultural fit?

  • Star
  • Commitment
  • Engineering
  • Bureaucracy

Q6. Which of the following models is best suited for innovation?

  • Bureaucracy
  • None of these are best suited for innovation
  • Commitment
  • Autocracy

Q7. Which of the following organizational forms is described by division of labor by inputs and highly centralized decision making rights?

  • Matrix
  • Divisional
  • None of these are true
  • Functional

Q8. Which of the following is NOT an example of vertical expansion?

  • easyJet expanding into Asia
  • easyJet backwards integrating to supply inputs for the core no-frills airline business
  • easyJet expanding to no-frills supermarkets
  • All of these are examples of vertical expansion

Q9. Which of the following is a consideration when contemplating a horizontal expansion

  • Do the combined activities enable the venture to create and capture more value than if the activities were housed under different organizational roofs?
  • Is common ownership by a single entity the best way to capture value as opposed to strategic alliances, licensing, and arm’s lengths transactions?
  • All of these are considerations with respect to horizontal expansion
  • Are you able to leverage your core capabilities?

Q10. What is the “paradox of success” surrounding founders?

  • Founders are often replaced after raising a round of funding
  • All of these are true
  • Founders are often replaced after shipping a product
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Get All Course Quiz Answers of Entrepreneurship Specialization

Entrepreneurship 1: Developing the Opportunity Quiz Answers

Entrepreneurship 2: Launching your Start-Up Quiz Answers

Entrepreneurship 3: Growth Strategies Coursera Quiz Answers

Entrepreneurship 4: Financing and Profitability Quiz Answers

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