Lesson 2.2 IgniteX

Question 1

Refers to a system within a company or organization
that allows employees to act like entrepreneurs. Are self-motivated, proactive, and action-oriented individuals who take the initiative
to develop innovative products or services.

Answer 1

Intrapreneurship

Question 2

Are required for all
students without taking
into consideration which
field the student belongs
to.

Answer 2

Entrepreneurial skills

Question 3

What is common between
these individuals?

Answer 3

Initiative takers
Problem solvers
Visionary
Changemakers

Question 4

Is an area with unresolved issues that offer
opportunities for solutions or innovations.

Answer 4

Problem space

Question 5

Invented Cheetos
while working at Frito-lay which began national
distribution in the United
States as Frito-lay. Frito-lay was later acquired by
PepsiCo and now
operates as a wholly-owned subsidiary of the
company.

Answer 5

Richard Montanez

Question 6

Was launched as a homegrown
messaging app that aimed to compete with global
giants like WhatsApp by offering additional features
tailored to the Indian market, such as localized
stickers, news, cricket score updates, and wallet
services.

Answer 6

Hike messenger

Question 7

Is defined in Marketing as the sum total of all the buyers and sellers in the area or region under
consideration.

Answer 7

Market

Question 8

aimed to revolutionize juicing with its Wi-Fi-connected, high-tech juicer and proprietary juice
packs. The device pressed juice packs to deliver fresh
juice. However, the problem it aimed to solve—simplifying the juicing process—was perceived as
trivial by many, especially given the high cost of the
machine ($400).

Answer 8

Juicero

Question 9

Is the first step in the problem-solving process.

Answer 9

Problem identification

Question 10

THE PROCESS OF FINDING POWERFUL IDEAS

Answer 10

-Be curious
-Identify problems
-Validate problems
-Generate ideas

Question 11

Is a place where buyers and sellers exchange goods
or services

Answer 11

Market

Question 12

Gathering, analyzing, and interpreting information about
technological advancements and their adoption over time.

Answer 12

Technological Trends

Question 13

HOW DO WE ANALYSE
PROBLEMS? The 3 Ws

Answer 13

-What are the Root Causes?
-Who is Impacted by it? How?
-What is your personal connect with this problem?

Question 14

Top reasons why startup fail

Answer 14

❑ Pricing & Cost Issues
❑ Get out competed
❑ Not the right team
❑ Ran out of money
❑ No market need

Question 15

Data collected directly from original sources.

Answer 15

Primary Data

Question 16

The specific pain points or problems experienced by
customers.

Answer 16

Customer Frustrations

Question 17

Dividing the subset
of consumers with
common need and
characteristics.

Answer 17

MARKET
SEGMENTATION

Question 18

A part or section of
something distinct or
separate from the whole.

Answer 18

Segment

Question 19

Building relationship
and creating positive
consumer experience

Answer 19

CUSTOMER
CENTRICITY

Question 20

analysis is a method of solving a problem at its source, rather than just treating the symptoms.

Answer 20

Root cause analysis

Question 21

How a venture use this
approach for creating
value for their customers
STRATEGIES to affect
PROFITABILITY

Answer 21

SEGMENT
IDENTIFICATION

Question 22

What are the segmentation criteria ?

Answer 22

-Demographic
-Geographic
-Psychographic
-Behavioral

Question 23

A company that sells products or
services to various levels of government
agencies.

Answer 23

Business-to-Government

Question 24

A company that sells products or
services directly to individual
consumers.

Answer 24

Business-to-Consumer

Question 25

A distinct group of potential
customers with similar needs
and behaviors.

Answer 25

Customer segment

Question 26

A company that sells products or
services to another business enterprise.

Answer 26

Business-to-Business