Question 1

A 2014 study found four key trends related to how companies characterize product development today. Discuss these. ​

Accepted Answer

The four trends found were efficiency im

Question 2

The new product checklist asks all of these questions except:  ​

Accepted Answer

A) Will I be the first in the marketplace with this product? 
B) Do customers have to change their behavior to adopt this product? 
C) Can it be cheaply manufactured? 
D) Are there ways to enhance the product over time 
E) All of these choices are correct 
A) Will I be the first in the marketplace with this product? 
B) Do customers have to change their behavior to adopt this product? 
C) Can it be cheaply manufactured? 
D) Are there ways to enhance the product over time 
E) All of these choices are correct

Question 3

Which of the following is not a reason to outsource product development? ​

Accepted Answer

A) Improve the quality of software development 
B) Enable rapid scaling 
C) Preserve the ability to be flexible 
D) All of the above are reasons to outsource product development 
E) Neither b or c are reasons to outsource product development 
A) Improve the quality of software development 
B) Enable rapid scaling 
C) Preserve the ability to be flexible 
D) All of the above are reasons to outsource product development 
E) Neither b or c are reasons to outsource product development

Question 4

Identifying a problem that potential customers have may lead to: ​

Accepted Answer

A) A market niche that has not yet been served 
B) A potential improvement in an existing product 
C) An opportunity for a breakthrough product or process 
D) All of the above are correct. 
E) None of the above is correct. 
A) A market niche that has not yet been served 
B) A potential improvement in an existing product 
C) An opportunity for a breakthrough product or process 
D) All of the above are correct. 
E) None of the above is correct.

Question 5

Customer identification or discovery asks the question: ​

Accepted Answer

A) Who is the primary customer? 
B) Who is the customer that will pay most? 
C) Who is the last customer? 
D) All of these choices 
E) None of these choices 
A) Who is the primary customer? 
B) Who is the customer that will pay most? 
C) Who is the last customer? 
D) All of these choices 
E) None of these choices

Question 6

What is the "lean startup" movement, and what was its origin? ​

Accepted Answer

The concept of the "lean startup" was fi

Question 7

All of these are intellectual-property rights except:

Accepted Answer

A) patents 
B) development 
C) copyrights 
D) trade secrets 
E) All of these choices 
A) patents 
B) development 
C) copyrights 
D) trade secrets 
E) All of these choices

Question 8

Poor execution, time-to-market increases, and missed first-to-market opportunities are some of the problems associated with ____. ​

Accepted Answer

A) lack of new product development resources 
B) new product development failure 
C) failure to protect intellectual property 
D) lack of teamwork 
E) All of these choices 
A) lack of new product development resources 
B) new product development failure 
C) failure to protect intellectual property 
D) lack of teamwork 
E) All of these choices

Question 9

Investors consider research and development, engineering, and testing of new products to be low-risk, so funding for these activities is not difficult for the entrepreneur to secure.

Accepted Answer

A) True 
 B)False

Question 10

Among the reasons an MVP product may fail are: ​

Accepted Answer

A) Users expected a higher quality 
B) The customers were not the initial customers 
C) Something prevented the customers from referring the product to their friends 
D) All of the above choices are correct 
E) None of these choices is correct 
A) Users expected a higher quality 
B) The customers were not the initial customers 
C) Something prevented the customers from referring the product to their friends 
D) All of the above choices are correct 
E) None of these choices is correct

Question 11

With the benefits of information and systems technologies, the success rate of new product development has climbed to 85 percent at launch. ​

Accepted Answer

A) True 
 B)False

Question 12

Regarding an MVP, it is correct to say: ​

Accepted Answer

A) An MVP  is always the preferred way to gauge customer interest in a product. 
B) An MVP is an excellent way to gauge customer interest for all types of products. 
C) Sometimes, an MVP will not give you the feedback you need. 
D) An MVP is most valuable if your product concept adopts incremental innovation. 
E) None of these choices is correct. 
A) An MVP  is always the preferred way to gauge customer interest in a product. 
B) An MVP is an excellent way to gauge customer interest for all types of products. 
C) Sometimes, an MVP will not give you the feedback you need. 
D) An MVP is most valuable if your product concept adopts incremental innovation. 
E) None of these choices is correct.

Question 13

Briefly discuss the impact that technology has had on the product life cycle. ​

Accepted Answer

Because of technology, the product life

Question 14

Poor execution in product development results in: ​

Accepted Answer

A) Missed opportunities 
B) Entering the market with competitors 
C) Using only incremental opportunities 
D) All of the above 
E) None of these choices 
A) Missed opportunities 
B) Entering the market with competitors 
C) Using only incremental opportunities 
D) All of the above 
E) None of these choices

Question 15

When you validate a customer, you are: ​

Accepted Answer

A) Ensuring that the customer will buy the product 
B) Ensuring that a solution currently exists 
C) Filing for intellectual property protection 
D) All of these choices 
E) None of these choices 
A) Ensuring that the customer will buy the product 
B) Ensuring that a solution currently exists 
C) Filing for intellectual property protection 
D) All of these choices 
E) None of these choices

Question 16

Intellectual property consists of all of these except: ​

Accepted Answer

A) copyright 
B) patent 
C) trade secret 
D) All of the above constitute intellectual property 
E) Only a and b constitute intellectual property 
A) copyright 
B) patent 
C) trade secret 
D) All of the above constitute intellectual property 
E) Only a and b constitute intellectual property

Question 17

Lack of good market analysis, technical problems, and human error are reasons for ____. ​

Accepted Answer

A) new product failure 
B) product simplification 
C) research and development 
D) shortened product life cycles 
E) All of these choices 
A) new product failure 
B) product simplification 
C) research and development 
D) shortened product life cycles 
E) All of these choices

Question 18

Briefly discuss the product development cycle. ​

Accepted Answer

Opportunity recognition - identifying a

Question 19

Possible causes of product failure are: ​

Accepted Answer

A) Technical problems 
B) The product definition may provide features that the customer does not want 
C) The problem has not been correctly defined 
D) The product definition may be incorrect 
E) All of these are correct 
A) Technical problems 
B) The product definition may provide features that the customer does not want 
C) The problem has not been correctly defined 
D) The product definition may be incorrect 
E) All of these are correct

Question 20

Regarding product development, which of the following would not be good advice? ​

Accepted Answer

A) Manage product development teams from a distance 
B) Choose an outsourced partner based solely on price 
C) During R&D, set aside customer needs 
D) All of these are good advice 
E) None of these is good advice 
A) Manage product development teams from a distance 
B) Choose an outsourced partner based solely on price 
C) During R&D, set aside customer needs 
D) All of these are good advice 
E) None of these is good advice

A 2014 study found four key trends related to how companies characterize product development today. Discuss these.

The new product checklist asks all of these questions except:

Which of the following is not a reason to outsource product development?

Identifying a problem that potential customers have may lead to:

Customer identification or discovery asks the question:

What is the "lean startup" movement, and what was its origin?

All of these are intellectual-property rights except:

Poor execution, time-to-market increases, and missed first-to-market opportunities are some of the problems associated with ____.

Investors consider research and development, engineering, and testing of new products to be low-risk, so funding for these activities is not difficult for the entrepreneur to secure.

Among the reasons an MVP product may fail are:

With the benefits of information and systems technologies, the success rate of new product development has climbed to 85 percent at launch.

Regarding an MVP, it is correct to say:

Briefly discuss the impact that technology has had on the product life cycle.

Poor execution in product development results in:

When you validate a customer, you are:

Intellectual property consists of all of these except:

Lack of good market analysis, technical problems, and human error are reasons for ____.

Briefly discuss the product development cycle.

Possible causes of product failure are:

Regarding product development, which of the following would not be good advice?

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

A 2014 study found four key trends related to how companies characterize product development today. Discuss these. ​

The new product checklist asks all of these questions except: ​

Which of the following is not a reason to outsource product development? ​

Identifying a problem that potential customers have may lead to: ​

Customer identification or discovery asks the question: ​

What is the "lean startup" movement, and what was its origin? ​

All of these are intellectual-property rights except:

Poor execution, time-to-market increases, and missed first-to-market opportunities are some of the problems associated with ____. ​

Investors consider research and development, engineering, and testing of new products to be low-risk, so funding for these activities is not difficult for the entrepreneur to secure.

Among the reasons an MVP product may fail are: ​

With the benefits of information and systems technologies, the success rate of new product development has climbed to 85 percent at launch. ​

Regarding an MVP, it is correct to say: ​

Briefly discuss the impact that technology has had on the product life cycle. ​

Poor execution in product development results in: ​

When you validate a customer, you are: ​

Intellectual property consists of all of these except: ​

Lack of good market analysis, technical problems, and human error are reasons for ____. ​

Briefly discuss the product development cycle. ​

Possible causes of product failure are: ​

Regarding product development, which of the following would not be good advice? ​

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

A 2014 study found four key trends related to how companies characterize product development today. Discuss these.

The new product checklist asks all of these questions except:

Which of the following is not a reason to outsource product development?

Identifying a problem that potential customers have may lead to:

Customer identification or discovery asks the question:

What is the "lean startup" movement, and what was its origin?

Poor execution, time-to-market increases, and missed first-to-market opportunities are some of the problems associated with ____.

Among the reasons an MVP product may fail are:

With the benefits of information and systems technologies, the success rate of new product development has climbed to 85 percent at launch.

Regarding an MVP, it is correct to say:

Briefly discuss the impact that technology has had on the product life cycle.

Poor execution in product development results in:

When you validate a customer, you are:

Intellectual property consists of all of these except:

Lack of good market analysis, technical problems, and human error are reasons for ____.

Briefly discuss the product development cycle.

Possible causes of product failure are:

Regarding product development, which of the following would not be good advice?