You own an online shop on a website like Etsy, where you sell laptop stickers you have designed. You have identified five risks you would like to address. When you perform a risk prioritization, you find that all five risks have similar risk scores. You meet your best friend at a local coffee shop to brainstorm about your risks and get your friend's input. While there, you write your reasoning for each risk on a separate note card-one for each risk-and place the cards in order of the priority that you and your friend have agreed on. On the walk back to your apartment, you drop the note cards, and they are now out of order. You need to re-create your prioritization from the coffee shop. Your note card choices are as follows. Notecard Letter Reasoning for priority This store is a source of income for you. You need to protect yourself by making sure you do not send merchandise to a customer until the customer's credit card clears the system and the payment is in your account. Turning on notifications on your shop's social media accounts and other sites where a customer may write a review will ensure that you are monitoring commentary and engagement with your brand-whether positive or negative. Your brand's image is essential, and one bad review can ruin your customer base. A lawsuit could be awful. You should publish a list of materials used in your products-adhesive, printer ink, etc. People are allergic to many things, and this disclosure will prevent a potential lawsuit by providing disclosure to buyers. Damaged goods are probably unavoidable, so you will keep a budget to cover these losses. To keep your customer happy, you need to refund the purchase price. A solid refund policy will protect you from excessive refunds. If a customer receives a wrong item, you can simply apologize, send the correct item, and possibly include a bonus sticker as a small gift of apology. Keeping customers happy is essential to avoid bad reviews. A B Risk с D E Match the notecard reasoning with its appropriate risk, and then rank the risks in priority of 1-5, with 1 being the highest priority and 5 being the lowest priority. A customer receiving the wrong order may result in an upset customer. A customer posting a negative review on the social media page may result in reputational damage. A customer returning a used/damaged laptop sticker and demanding a full refund may result in a loss of revenue. A customer suffering an allergic reaction to the glue on the sticker may result in an upset customer anda possible lawsuit. A customer providing a fake credit card number may result in loss of revenue. Notecard Letter ···· BV Dv AV Priority 3 v 1 v 5 v 2 v

You own an online shop on a website like Etsy, where you sell laptop stickers you have designed. You have identified five risks you would like to address. When you perform a risk prioritization, you find that all five risks have similar risk scores. You meet your best friend at a local coffee shop to brainstorm about your risks and get your friend's input. While there, you write your reasoning for each risk on a separate note card-one for each risk-and place the cards in order of the priority that you and your friend have agreed on. On the walk back to your apartment, you drop the note cards, and they are now out of order. You need to re-create your prioritization from the coffee shop. Your note card choices are as follows. Notecard Letter Reasoning for priority This store is a source of income for you. You need to protect yourself by making sure you do not send merchandise to a customer until the customer's credit card clears the system and the payment is in your account. Turning on notifications on your shop's social media accounts and other sites where a customer may write a review will ensure that you are monitoring commentary and engagement with your brand-whether positive or negative. Your brand's image is essential, and one bad review can ruin your customer base. A lawsuit could be awful. You should publish a list of materials used in your products-adhesive, printer ink, etc. People are allergic to many things, and this disclosure will prevent a potential lawsuit by providing disclosure to buyers. Damaged goods are probably unavoidable, so you will keep a budget to cover these losses. To keep your customer happy, you need to refund the purchase price. A solid refund policy will protect you from excessive refunds. If a customer receives a wrong item, you can simply apologize, send the correct item, and possibly include a bonus sticker as a small gift of apology. Keeping customers happy is essential to avoid bad reviews. A B Risk с D E Match the notecard reasoning with its appropriate risk, and then rank the risks in priority of 1-5, with 1 being the highest priority and 5 being the lowest priority. A customer receiving the wrong order may result in an upset customer. A customer posting a negative review on the social media page may result in reputational damage. A customer returning a used/damaged laptop sticker and demanding a full refund may result in a loss of revenue. A customer suffering an allergic reaction to the glue on the sticker may result in an upset customer anda possible lawsuit. A customer providing a fake credit card number may result in loss of revenue. Notecard Letter ···· BV Dv AV Priority 3 v 1 v 5 v 2 v

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Transcribed Image Text:You own an online shop on a website like Etsy, where you sell laptop stickers you have designed. You have identified five risks you would like to address. When you perform a risk prioritization, you find that all five risks have similar risk scores. You meet your best friend at a local coffee shop to brainstorm about your risks and get your friend's input. While there, you write your reasoning for each risk on a separate note card-one for each risk-and place the cards in order of the priority that you and your friend have agreed on. On the walk back to your apartment, you drop the note cards, and they are now out of order. You need to re-create your prioritization from the coffee shop. Your note card choices are as follows. Notecard Letter A Risk B C D E Reasoning for priority This store is a source of income for you. You need to protect yourself by making sure you do not send merchandise to a customer until the customer's credit card clears the system and the payment is in your account. Turning on notifications on your shop's social media accounts and other sites where a customer may write a review will ensure that you are monitoring commentary and engagement with your brand-whether positive or negative. Your brand's image is essential, and one bad review can ruin your customer base. A lawsuit could be awful. You should publish a list of materials used in your products-adhesive, printer ink, etc. People are allergic to many things, and this disclosure will prevent a potential lawsuit by providing disclosure to buyers. Damaged goods are probably unavoidable, so you will keep a budget to cover these losses. To keep your customer happy, you need to refund the purchase price. A solid refund policy will protect you from excessive refunds. If a customer receives a wrong item, you can simply apologize, send the correct item, and possibly include a bonus sticker as a small gift of apology. Keeping customers happy is essential to avoid bad reviews. Match the notecard reasoning with its appropriate risk, and then rank the risks in priority of 1-5, with 1 being the highest priority and 5 being the lowest priority. A customer receiving the wrong order may result in an upset customer. A customer posting a negative review on the social media page may result in reputational damage. A customer returning a used/damaged laptop sticker and demanding a full refund may result in a loss of revenue. A customer suffering an allergic reaction to the glue on the sticker may result in an upset customer anda possible lawsuit. A customer providing a fake credit card number may result in loss of revenue. Notecard Letter E B A Priority 4 3 1 5 2

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