NL

Exam Preparation Notes

Target Markets and Solutions

  • Some solutions are perfect for enterprise but not for higher education.
  • Other solutions may resemble phone calls and are not realistic enough.
  • Some solutions are better for students and instructors in higher education.
  • Some solutions focus on question-and-answer interactions with bots, which is different from workplace practice.
  • Some companies have tailored products for higher education, with a significant number of institutions using their solutions.

Importance of Tailoring Solutions

  • It's crucial to make it clear who a solution is for and why it's the best choice for that specific target market.
  • Not all solutions are suitable for everyone. Some are designed for specific segments, and that's okay.
  • It's not necessary to pursue all possible market segments; focus on a few major target markets.

Understanding Your Audience

  • It's beneficial to easily connect and communicate with the target market on a daily basis.

Avoiding Overcommitment

  • Don't try to be everything to everyone. Focus on specific strengths and target markets.
  • Avoid promising high quality and low prices simultaneously.

Monitoring User Behavior

  • Companies like Facebook, Meta, Apple, and Google monitor user behavior to understand their preferences without directly asking questions.

Specificity in Target Marketing

  • Target products to very specific groups, such as those interested in organic and vegan lifestyles for health.
  • Avoid trying to sell to everyone, including those with minimal income.

Customization

  • Offer customized services tailored to individual needs.

Midterm Exam Details

  • The midterm exam will be online and taken from home; no need to come to campus.
  • The exam is scheduled for July 3rd, a Thursday at 9 AM, two weeks from now.

Exam Preparation Advice

  • Start preparing early, especially if you're not accustomed to reading and writing.
  • Writing ability reflects thought processes. Practice writing on a blank paper with a given topic to assess understanding.

Technical Requirements for the Exam

  • Ensure a reliable internet connection and a functioning computer before the exam.

Attitude Towards the Exam

  • Avoid being a complainer or troublemaker; just complete the exam.

Exam Logistics

  • The exam duration is 90 minutes.
  • The exam contributes 20% to the final grade.
  • Failing the course is difficult unless there is a lack of effort or too many missed classes.

Exam Question Format

  • There will be two to five short or long answer questions.
  • Answers must be concise, with a maximum word count. Exceeding the limit results in a 50% mark deduction.
  • Use bullet points for examples.

Exam Content

  • The exam covers content from weeks one to six, including videos, slides, and class discussions.

Open Book Policy

  • The exam is open book; memorization is not required.
  • However, being unprepared will make using the book during the exam ineffective due to time constraints.
  • Questions will require reading and critical thinking.
  • The exam is similar to mini-simulations that present business stories and ask for problem-solving approaches.

Permitted Resources

  • You can use your own notes, slides, and any content posted on Blackboard.

Prohibited Actions

  • Do not rely on external tools or websites for answers.
  • Avoid copying and pasting information; exercise your brain.
  • Do not watch videos during the exam to learn the material.

Exam Strategy

  • Aim to understand and apply concepts rather than just memorizing.
  • Learn from mistakes and improve for the next time.

Question Types

  • The exam includes multiple-choice questions and short/long answer questions.
  • Short questions have a maximum of 50 words.

Emphasis on Application

  • Focus on applying knowledge to real-life scenarios rather than just knowing the concepts.
  • Knowing is different than doing; both are important.

Preparing with Practice Questions

  • Use practice multiple-choice questions to prepare, focusing on understanding why answers are correct or incorrect.
  • Ask for more difficult, business-case-oriented questions to test understanding.
  • Write out answers and ask for feedback to refine understanding.

Seeking Help Effectively

  • When stuck, ask for direction without seeking direct answers. This can help unblock understanding.
  • Ensure answers are your own, not just copied from resources.

Exam Conduct

  • Do not ask about the exam during, before, or after to maintain fairness.
  • Let others learn from their mistakes rather than providing answers.

Exam Flexibility

  • Answer questions in any order.

Reading Skills

  • Practice reading business cases and questions to improve comprehension.

Answering Questions Effectively

  • Provide specific answers to the questions asked.
  • Adhere to the maximum word count; exceeding it results in a penalty.
  • Aim for clarity and directness in answers.

Word Count

  • Maximum 100 words does not mean you must write 100 words; write what is necessary to answer the question.
  • Being concise is crucial.

Penalties

  • Exceeding the word limit results in a 50% reduction of the mark for that question.

Additional Instructions

  • Answer like this.