Question 1

The ratio of new products that are killed in product development is highest for:  ​

Accepted Answer

A) The best performing products 
B) The worst performing products 
C) The products with the most utility 
D) The products with average performance 
E) None of these is correct 
A) The best performing products 
B) The worst performing products 
C) The products with the most utility 
D) The products with average performance 
E) None of these is correct A

Question 2

Intellectual-property rights are legal rights associated with patents, trademarks, copyrights, and trade secrets. ​

Accepted Answer

A) True 
 B)False  True

Question 3

Poor execution in product development results in missed opportunities to enter the market at a quiet time without immediate competition.

Accepted Answer

A) True 
 B)False  True

Question 4

A product life cycle is analogous to an industry life cycle with periods of product development, market introduction, growth, maturity, and decline.

Accepted Answer

A) True 
 B)False

Question 5

In entrepreneurial parlance, MVP stands for most valuable player. ​

Accepted Answer

A) True 
 B)False

Question 6

Initial market tests are accomplished using a working ____ of near production quality. ​

Accepted Answer

A) concept 
B) platform 
C) model 
D) prototype 
E) None of these choices 
A) concept 
B) platform 
C) model 
D) prototype 
E) None of these choices

Question 7

When you validate a customer, you are:  ​

Accepted Answer

A) Conducting final research 
B) Determining whether you have the right customer and the right solution 
C) Determining what is the highest price at which the customer will purchase 
D) Reviewing regulatory requirements 
E) None of these 
A) Conducting final research 
B) Determining whether you have the right customer and the right solution 
C) Determining what is the highest price at which the customer will purchase 
D) Reviewing regulatory requirements 
E) None of these

Question 8

The product development cycle consists of a series of tasks leading to introduction of the product to the marketplace. ​

Accepted Answer

A) True 
 B)False

Question 9

A Customer Value Proposition is: ​

Accepted Answer

A) Always composed of total benefits, points of differentiation, and focus on a key value 
B) The best alternative for validating a solution wit customers 
C) A way to focus on the favorable points of difference with competitors 
D) A focus on the unique differences being offered that provide the most value for the customer 
E) None of these is correct. 
A) Always composed of total benefits, points of differentiation, and focus on a key value 
B) The best alternative for validating a solution wit customers 
C) A way to focus on the favorable points of difference with competitors 
D) A focus on the unique differences being offered that provide the most value for the customer 
E) None of these is correct.

Question 10

Opportunity recognition, technical feasibility analysis, and prototype building and field testing are elements of the ____. ​

Accepted Answer

A) industry life cycle 
B) product development cycle 
C) trademark process 
D) new product checklist 
E) successful product realization 
A) industry life cycle 
B) product development cycle 
C) trademark process 
D) new product checklist 
E) successful product realization

Question 11

The main reason for new product development failure is lack of ____. ​

Accepted Answer

A) sufficient funding 
B) good market and industry analysis 
C) effective leadership 
D) innovation 
E) patents 
A) sufficient funding 
B) good market and industry analysis 
C) effective leadership 
D) innovation 
E) patents

Question 12

Explain how early-stage testing can benefit product development. ​

Accepted Answer

Early stage testing before investment in

Question 13

Briefly discuss the benefits of outsourcing product development for today's entrepreneur. ​

Accepted Answer

Most startup companies don't have the re

Question 14

____ product development provides a young firm with a network of expertise that it couldn't afford to hire in-house.

Accepted Answer

A) Outsourcing 
B) Patenting 
C) Protecting 
D) Networking 
E) Testing 
A) Outsourcing 
B) Patenting 
C) Protecting 
D) Networking 
E) Testing

Question 15

What is the "build-measure-lean" concept? ​

Accepted Answer

The "build-measure-lean" concept derives

Question 16

The probability of success for a new product launch is about ____ percent.

Accepted Answer

A) 40 
B) 50 
C) 60 
D) 70 
E) 80 
A) 40 
B) 50 
C) 60 
D) 70 
E) 80

Question 17

Discuss three common problems that result from a lack of sufficient new product development resources. ​

Accepted Answer

Poor execution - about 75 percent of pro

Question 18

Go-To-Market is which phase of the product development cycle? ​

Accepted Answer

A) The first phase 
B) The second phase 
C) The third phase 
D) The fourth phase 
E) The final phase 
A) The first phase 
B) The second phase 
C) The third phase 
D) The fourth phase 
E) The final phase

Question 19

Each time a new product or service or an improvement to an existing product or service is introduced, it will have gone through a design and development process.

Accepted Answer

A) True 
 B)False

Question 20

During the product development process, tradeoffs may have to be made between all of these factors except: ​

Accepted Answer

A) Product features 
B) Cost 
C) Capital expenditures 
D) Stakeholders 
E) All of these choices are correct 
A) Product features 
B) Cost 
C) Capital expenditures 
D) Stakeholders 
E) All of these choices are correct

The ratio of new products that are killed in product development is highest for:

Intellectual-property rights are legal rights associated with patents, trademarks, copyrights, and trade secrets.

Poor execution in product development results in missed opportunities to enter the market at a quiet time without immediate competition.

A product life cycle is analogous to an industry life cycle with periods of product development, market introduction, growth, maturity, and decline.

In entrepreneurial parlance, MVP stands for most valuable player.

Initial market tests are accomplished using a working ____ of near production quality.

When you validate a customer, you are:

The product development cycle consists of a series of tasks leading to introduction of the product to the marketplace.

A Customer Value Proposition is:

Opportunity recognition, technical feasibility analysis, and prototype building and field testing are elements of the ____.

The main reason for new product development failure is lack of ____.

Explain how early-stage testing can benefit product development.

Briefly discuss the benefits of outsourcing product development for today's entrepreneur.

____ product development provides a young firm with a network of expertise that it couldn't afford to hire in-house.

What is the "build-measure-lean" concept?

The probability of success for a new product launch is about ____ percent.

Discuss three common problems that result from a lack of sufficient new product development resources.

Go-To-Market is which phase of the product development cycle?

Each time a new product or service or an improvement to an existing product or service is introduced, it will have gone through a design and development process.

During the product development process, tradeoffs may have to be made between all of these factors except:

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Protecting the Startups Assets

Calculating Startup Capital Requirements

Building the Founding Team

Preparing a Business Plan

Designing an Entrepreneurial Organization

Choosing the Legal Form of Organization

Developing the Startup Marketing Plan

Creating a Startup Funding Strategy

Incorporating Ethics and Social Responsibility Into the Business

Planning for Growth and Change

Funding Growth

Filters

Exam 6: Prototyping a Solution

The ratio of new products that are killed in product development is highest for: ​

Intellectual-property rights are legal rights associated with patents, trademarks, copyrights, and trade secrets. ​

Poor execution in product development results in missed opportunities to enter the market at a quiet time without immediate competition.

A product life cycle is analogous to an industry life cycle with periods of product development, market introduction, growth, maturity, and decline.

In entrepreneurial parlance, MVP stands for most valuable player. ​

Initial market tests are accomplished using a working ____ of near production quality. ​

When you validate a customer, you are: ​

The product development cycle consists of a series of tasks leading to introduction of the product to the marketplace. ​

A Customer Value Proposition is: ​

Opportunity recognition, technical feasibility analysis, and prototype building and field testing are elements of the ____. ​

The main reason for new product development failure is lack of ____. ​

Explain how early-stage testing can benefit product development. ​

Briefly discuss the benefits of outsourcing product development for today's entrepreneur. ​

____ product development provides a young firm with a network of expertise that it couldn't afford to hire in-house.

What is the "build-measure-lean" concept? ​

The probability of success for a new product launch is about ____ percent.

Discuss three common problems that result from a lack of sufficient new product development resources. ​

Go-To-Market is which phase of the product development cycle? ​

Each time a new product or service or an improvement to an existing product or service is introduced, it will have gone through a design and development process.

During the product development process, tradeoffs may have to be made between all of these factors except: ​

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Protecting the Startups Assets

Calculating Startup Capital Requirements

Building the Founding Team

Preparing a Business Plan

Designing an Entrepreneurial Organization

Choosing the Legal Form of Organization

Developing the Startup Marketing Plan

Creating a Startup Funding Strategy

Incorporating Ethics and Social Responsibility Into the Business

Planning for Growth and Change

Funding Growth

Filters

The ratio of new products that are killed in product development is highest for:

Intellectual-property rights are legal rights associated with patents, trademarks, copyrights, and trade secrets.

In entrepreneurial parlance, MVP stands for most valuable player.

Initial market tests are accomplished using a working ____ of near production quality.

When you validate a customer, you are:

The product development cycle consists of a series of tasks leading to introduction of the product to the marketplace.

A Customer Value Proposition is:

Opportunity recognition, technical feasibility analysis, and prototype building and field testing are elements of the ____.

The main reason for new product development failure is lack of ____.

Explain how early-stage testing can benefit product development.

Briefly discuss the benefits of outsourcing product development for today's entrepreneur.

What is the "build-measure-lean" concept?

Discuss three common problems that result from a lack of sufficient new product development resources.

Go-To-Market is which phase of the product development cycle?

During the product development process, tradeoffs may have to be made between all of these factors except: