Question 1

Prototyping can signal venture readiness to potential investors.

Accepted Answer

A) True 
 B)False  True

Question 2

When prototyping, the entrepreneur must make notes about any changes or alterations to the product or service that the customer may propose.

Accepted Answer

A) True 
 B)False  True

Question 3

What type of prototype expresses roughly the product concept?

Accepted Answer

A)  Low fidelity prototype 
B)  High fidelity prototype 
C)  Looks-like prototype 
D)  Works-like prototype 
E)  All prototype models, it is the whole point. 
A)  Low fidelity prototype 
B)  High fidelity prototype 
C)  Looks-like prototype 
D)  Works-like prototype 
E)  All prototype models, it is the whole point. A

Question 4

What the entrepreneur believes to be the best attributes of his product and what the target customer believes are usually __________.

Accepted Answer

A)  Very similar 
B)  Very different 
C)  Almost the same 
D)  Somewhat different 
E)  Similar but expressed differently 
A)  Very similar 
B)  Very different 
C)  Almost the same 
D)  Somewhat different 
E)  Similar but expressed differently

Question 5

To demonstrate a new product, creators of crowdfunding campaigns often must develop and feature ________ prototypes to convey not only their creative vision but their commitment.

Accepted Answer

A)  Electronic 
B)  Works-like 
C)  Looks-like 
D)  Paper 
E)  None of the above 
A)  Electronic 
B)  Works-like 
C)  Looks-like 
D)  Paper 
E)  None of the above

Question 6

3D printing is a great way of making a prototype, the only problem is that you have to purchase the printer and it is expensive.

Accepted Answer

A) True 
 B)False

Question 7

Almost all new products require significant trial and error in developing the final version before they are ready for the market.

Accepted Answer

A) True 
 B)False

Question 8

The core purpose of the prototyping process and developing a prototype is to get a response from a target customer. This is important mainly because ____________.

Accepted Answer

A)  Customers have all the answers about product faults 
B)  The entrepreneur may instantly act on the feedback given 
C)  The entrepreneur can compare his perception to that of his customers 
D)  The feedback can later on be filtered 
E)  Target customers opinions are most illuminating 
A)  Customers have all the answers about product faults 
B)  The entrepreneur may instantly act on the feedback given 
C)  The entrepreneur can compare his perception to that of his customers 
D)  The feedback can later on be filtered 
E)  Target customers opinions are most illuminating

Question 9

The prototyping process usually involves the creation of a maximum of two prototypes which is important if you want to control your expenses.

Accepted Answer

A) True 
 B)False

Question 10

The purpose of high fidelity prototyping is to get ideas out rapidly.

Accepted Answer

A) True 
 B)False

Question 11

It is foolish to jump from an idea or concept straight to a final product design.

Accepted Answer

A) True 
 B)False

Question 12

The prototyping process focuses on the representation of the proposed product or service and testing assumptions about the product or service.

Accepted Answer

A) True 
 B)False

Question 13

A prototype should answer vital questions about a product or service such as:

Accepted Answer

A)  Does my target customer like my product? 
B)  How may I alter my product to make it more attractive? 
C)  How does my product compare to existing solutions? 
D)  a and b 
E)  All of the above 
A)  Does my target customer like my product? 
B)  How may I alter my product to make it more attractive? 
C)  How does my product compare to existing solutions? 
D)  a and b 
E)  All of the above

Question 14

When prototyping a service, a ____________ prototype might be offering a simulation of how a service is performed.

Accepted Answer

A)  Wire frame 
B)  Looks-like 
C)  Works-like 
D)  3D 
E)  b and c 
A)  Wire frame 
B)  Looks-like 
C)  Works-like 
D)  3D 
E)  b and c

Question 15

In "co-creation," target customers are engaged with the objective of defining final specifications of the product or service being tested.

Accepted Answer

A) True 
 B)False

Question 16

Prototyping is helpful for testing products and services.

Accepted Answer

A) True 
 B)False

Question 17

Production prototypes consider if the product has been designed, for example, to ____________, ____________, and ___________.

Accepted Answer

A)  Minimize the number of parts, chances of product failure, and production costs. 
B)  Maximize the number of components, chances of product failure, and revenues. 
C)  Minimize the number of components, success rate, and cost of capital. 
D)  Minimize the number of parts, attractiveness of the product, and production costs. 
E)  None of the above 
A)  Minimize the number of parts, chances of product failure, and production costs. 
B)  Maximize the number of components, chances of product failure, and revenues. 
C)  Minimize the number of components, success rate, and cost of capital. 
D)  Minimize the number of parts, attractiveness of the product, and production costs. 
E)  None of the above

Question 18

It is more useful to design a prototype alongside your target customers in order to leverage "co-creation."

Accepted Answer

A) True 
 B)False

Question 19

Introducing a new product or service involves substantial risk and numerous innovations fail.

Accepted Answer

A) True 
 B)False

Question 20

Usually, new products and services require ____________ to develop before they are ready for the target market.

Accepted Answer

A)  1 month 
B)  1 or 2 prototypes 
C)  Significant trial and error 
D)  The feedback of at least 100 customers 
E)  a and d 
A)  1 month 
B)  1 or 2 prototypes 
C)  Significant trial and error 
D)  The feedback of at least 100 customers 
E)  a and d

Prototyping can signal venture readiness to potential investors.

When prototyping, the entrepreneur must make notes about any changes or alterations to the product or service that the customer may propose.

What type of prototype expresses roughly the product concept?

What the entrepreneur believes to be the best attributes of his product and what the target customer believes are usually __________.

To demonstrate a new product, creators of crowdfunding campaigns often must develop and feature ________ prototypes to convey not only their creative vision but their commitment.

3D printing is a great way of making a prototype, the only problem is that you have to purchase the printer and it is expensive.

Almost all new products require significant trial and error in developing the final version before they are ready for the market.

The core purpose of the prototyping process and developing a prototype is to get a response from a target customer. This is important mainly because ____________.

The prototyping process usually involves the creation of a maximum of two prototypes which is important if you want to control your expenses.

The purpose of high fidelity prototyping is to get ideas out rapidly.

It is foolish to jump from an idea or concept straight to a final product design.

The prototyping process focuses on the representation of the proposed product or service and testing assumptions about the product or service.

A prototype should answer vital questions about a product or service such as:

When prototyping a service, a ____________ prototype might be offering a simulation of how a service is performed.

In "co-creation," target customers are engaged with the objective of defining final specifications of the product or service being tested.

Prototyping is helpful for testing products and services.

Production prototypes consider if the product has been designed, for example, to __, , and _.

It is more useful to design a prototype alongside your target customers in order to leverage "co-creation."

Introducing a new product or service involves substantial risk and numerous innovations fail.

Usually, new products and services require ____________ to develop before they are ready for the target market.

The Power of Entrepreneurship

The Entrepreneurial Process

Opportunity Recognition, Shaping, and Reshaping

Understanding Your Business Model and Developing Your Strategy

Entrepreneurial Marketing

Building the Founding Team

The Business Planning Process

Building Your Pro Forma Financial Statements

Financing Entrepreneurial Ventures Worldwide

Raising Money for Starting and Growing Businesses

Debt and Other Forms of Financing

Legal and Tax Issues, Including Intellectual Property

Entrepreneurial Growth

Social Entrepreneurship

Filters

Exam 4: Prototyping Your Ideas

Prototyping can signal venture readiness to potential investors.

When prototyping, the entrepreneur must make notes about any changes or alterations to the product or service that the customer may propose.

What type of prototype expresses roughly the product concept?

What the entrepreneur believes to be the best attributes of his product and what the target customer believes are usually __________.

To demonstrate a new product, creators of crowdfunding campaigns often must develop and feature ________ prototypes to convey not only their creative vision but their commitment.

3D printing is a great way of making a prototype, the only problem is that you have to purchase the printer and it is expensive.

Almost all new products require significant trial and error in developing the final version before they are ready for the market.

The core purpose of the prototyping process and developing a prototype is to get a response from a target customer. This is important mainly because ____________.

The prototyping process usually involves the creation of a maximum of two prototypes which is important if you want to control your expenses.

The purpose of high fidelity prototyping is to get ideas out rapidly.

It is foolish to jump from an idea or concept straight to a final product design.

The prototyping process focuses on the representation of the proposed product or service and testing assumptions about the product or service.

A prototype should answer vital questions about a product or service such as:

When prototyping a service, a ____________ prototype might be offering a simulation of how a service is performed.

In "co-creation," target customers are engaged with the objective of defining final specifications of the product or service being tested.

Prototyping is helpful for testing products and services.

Production prototypes consider if the product has been designed, for example, to ____________, ____________, and ___________.

It is more useful to design a prototype alongside your target customers in order to leverage "co-creation."

Introducing a new product or service involves substantial risk and numerous innovations fail.

Usually, new products and services require ____________ to develop before they are ready for the target market.

The Power of Entrepreneurship

The Entrepreneurial Process

Opportunity Recognition, Shaping, and Reshaping

Understanding Your Business Model and Developing Your Strategy

Entrepreneurial Marketing

Building the Founding Team

The Business Planning Process

Building Your Pro Forma Financial Statements

Financing Entrepreneurial Ventures Worldwide

Raising Money for Starting and Growing Businesses

Debt and Other Forms of Financing

Legal and Tax Issues, Including Intellectual Property

Entrepreneurial Growth

Social Entrepreneurship

Filters

Production prototypes consider if the product has been designed, for example, to __, , and _.