Exam 3: Opportunity Recognition, Shaping, and Reshaping

New, entrepreneurial ideas frequently sprout from an entrepreneur's desire for a product that he or she cannot currently find in the market.

Which of the following is not a part of IDEO's product design steps?

In aggregate, baby boomers create powerful trends for US businesses.

According to the chapter, into what type of opportunity should a business idea translate?

In which stage is it important to play devil's advocate?

A highly priced product will usually be perceived as better quality by the customer.

To target goods and services specifically to Hispanic populations in the US is to focus one's market too narrowly.

When starting web business, which measure of effectiveness matters most?

Which of the following most typifies a "cocktail entrepreneur?"

Customers can assist you to determine direct competitors, indirect competitors, and substitutes.

Starting a company in a sphere of business that you really enjoy is not the best idea, in terms of the chance of success.

The market enters a fast growth phase when customer awareness and demand exceed supply.

A company will make a better growth decision by identifying the most lucrative PTA.

The first domain name on the Web was assigned in 1986.

What does moving a seed of an idea to a more concrete possibility require?

What is the only action that the "gather stimuli" stage requires of the entrepreneur?

Playing the role of devil's advocate is important at the "optimize practicality" stage of concept development.

You will likely fail if you start a business in an area you have no experience in

Most successful ideas are driven by the entrepreneur's personal experience.

When pre-launch analysis predicts unfavorable outcomes you should: