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EC 111 > CIS 101 - Midterm > Flashcards

CIS 101 - Midterm Flashcards

1
Q

Phases of SDLC

A

Analyzing, Requirements, Design, Development, Implementation

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2
Q

Main activity of Analyzing

A

Understanding the problem in a as in state

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3
Q

Main activity of Requirements

A

Determine future state

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4
Q

Main activity of Design

A

Creating ideal blueprints

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5
Q

Main activity of Development

A

Building information system

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6
Q

Main activity of Implementation

A

Test, roll out, and maintain the IT

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7
Q

Main components of customer profile

A

jobs, gains, and pains

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8
Q

What does job refer in customer profile?

A

Tasks, problems, needs of customers

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9
Q

What does gains refer in customer profile?

A

benefits, desires, or surprising features of potential new product/service

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10
Q

What does pains refer in customer profile?

A

Bad outcomes, risks, undesired costs of experiences or potential experiences

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11
Q

The customer journey map is __

A

a diagram to show the steps of customer engagement with product/service

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12
Q

Actions refer to in a customer journey map ___

A

on what are they doing

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13
Q

Motivations refer to in a customer journey map ___

A

on why do they want to engage with certain product/service

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14
Q

Questions refer to in a customer journey map ___

A

on the uncertainties of customers facing

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15
Q

Barriers refer to in a customer journey map ___

A

on what is stopping the customer to engage more with product/service

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16
Q

What is a persona?

A

A fictional person representing a distinct user group.

17
Q

What is purpose of a persona?

A

Summarize and communicate research to users

18
Q

Components of persona description

A

Photo, name, demographics, bio, “a day in my life” story

19
Q

What are the three factors in a target market?

A

Demographic, geographic, psychographic

20
Q

Factors of demographic

A

Age, race, income, family size, occupation…

21
Q

Factors of geographic

A

suburban, urban, rural, area, climate…

22
Q

Factors of psychographic

A

Lifestyle: Activities, interests, opinions, values

23
Q

How to estimate the total addressable market?

A

Account the potential customers in a specific market

24
Q

How to estimate the serviceable available market

A

Potential customers x accessible devices

25
Q

How to estimate share of market

A

Answer from serviceable available market x % of the likelihood of customers using product/service from beginning

26
Q

Difference between direct and indirect competitors

A

D.C. = same products, same market
I.C. = different products, same market

27
Q

What does SWOT stand for?

A

Strengths, Weakness, Opportunities, Threats

28
Q

What are the S & W in a SWOT analysis

A

S & W internal factors within competitor’s control. Includes attributes, insights, relationships, abilities, and resources

29
Q

What are the O & T in a SWOT analysis

A

O & T external factors with PEST

30
Q

What does PEST represent

A

Political, Economic, Socio-cultural, Technology

31
Q

Purpose of Five Forces analysis

A

Helps company if their product/service/good is efficient in the market and industry

32
Q

Bargaining power of suppliers

A

High = bad
less options of suppliers
Low = good
more options of suppliers

33
Q

Bargaining power of buyers

A

High = bad
more options for consumers
Low = good
less options for consumers

34
Q

Threat of substitute products

A

high = bad
similar options not good
low = good
unique good

35
Q

threat of new entrants

A

High = bad
more substitutes
low = good
less substitutes

36
Q

rivalry among existing competitors

A

high = bad
more competition
low = good
less competition

37
Q

Critical Incident Method in Customer Interviews

A
  • focus on actual and recent behavior
  • ask customers to recall a specific instance in which something worked particularly
    well/bad
  • avoid asking for specific detail (people can make up an opinion about anything
  • take notes and record the interview (audio/video) if possible

EC 111 (5 decks)

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