Company
Question: What does “Company” refer to in the 3C’s?
A. The government
B. Any customer feedback loop
C. A business offering products or services
D. A social media app
Answer: C. A business offering products or services
Question: What is the role of competition in the 3C’s framework?
A. Helps distract customers
B. Shapes pricing and strategy
C. Controls government policy
D. Designs logos
Answer: B. Shapes pricing and strategy
Question: Why are customers important in the 3C framework?
A. They build the company’s website
B. They create market competition
C. They influence product development and revenue
D. They manufacture goods
Answer: C. They influence product development and revenue
Question: What’s a key internal element companies must focus on?
A. Weather conditions
B. Political news
C. Mission statement and core values
D. Influencer partnerships
Answer: C. Mission statement and core values
Question: Which is an example of direct competition?
A. Pepsi vs. Coca-Cola
B. Subway vs. Spotify
C. Uber vs. Instagram
D. YouTube vs. Kindle
Answer: A. Pepsi vs. Coca-Cola
Question: Which of the following is a responsibility of customers?
A. Setting competitor prices
B. Providing feedback and influencing others
C. Designing the company logo
D. Monitoring the stock market
Answer: B. Providing feedback and influencing others
Question: Which is an example of a strong company mission?
A. “Sell more than everyone”
B. “To organize the world’s information and make it universally accessible and useful”
C. “Make viral TikToks daily”
D. “Copy our competitors effectively”
Answer: B. “To organize the world’s information and make it universally accessible and useful”
Question: What’s the difference between direct and indirect competition?
A. Direct is global, indirect is local
B. Direct has no ads, indirect has many
C. Direct offers similar products; indirect satisfies the same need differently
D. Indirect only involves pricing
Answer: C. Direct offers similar products; indirect satisfies the same need differently
Question: TikTok users boosting products like “heatless curls” is an example of:
A. Direct marketing
B. Customer reviews
C. Viral customer influence
D. Paid sponsorships only
Answer: C. Viral customer influence
Question: Why is identifying a unique selling point important for a company?
A. To confuse competitors
B. To look trendy
C. To stand out in a crowded market
D. To sell everything at a discount
Answer: C. To stand out in a crowded market
Question: Why must companies understand their competition?
A. So they can steal their ideas
B. To plan vacations
C. To develop strong market positioning and unique strategies
D. To increase employee count
Answer: C. To develop strong market positioning and unique strategies
Question: Which of the following would help a company understand its customer base better?
A. Competitor analysis
B. Studying internal employee behavior
C. Reviewing customer behavior and feedback
D. Hiring more influencers
Answer: C. Reviewing customer behavior and feedback
Question: What makes a company competitive within the 3C framework?
A. Giving away products for free
B. Offering identical services to rivals
C. Standing out through innovation and mission
D. Ignoring customer input
Answer: C. Standing out through innovation and mission
Question: How can competition positively impact innovation?
A. It discourages risk-taking
B. It forces companies to copy others
C. It pushes businesses to improve offerings to stay ahead
D. It encourages price fixing
Answer: C. It pushes businesses to improve offerings to stay ahead
Question: How do customers create a competitive advantage for businesses?
A. By leaving the market
B. Through repeated purchases, referrals, and reviews
C. By reducing marketing budgets
D. By ignoring advertising
Answer: B. Through repeated purchases, referrals, and reviews