Question 1

What are the eight tasks of the product development cycle? Identify the three main categories these tasks are grouped into.

Accepted Answer

The product development cycle consists o

Question 2

_____ is defined as the activity that transforms a set of requirements into a format that brings all the elements into an integrated whole or system.

Accepted Answer

A)  Product design 
B)  Feasibility analysis 
C)  Prototyping 
D)  Industry analysis 
E)  SWOT analysis 
A)  Product design 
B)  Feasibility analysis 
C)  Prototyping 
D)  Industry analysis 
E)  SWOT analysis

Question 3

Briefly discuss the design process for both businesses that manufacture products and those that don't. How is the process similar? How is it different?

Accepted Answer

The first stages of design go hand in ha

Question 4

Which of the following statements about a minimum viable product (MVP) is true?

Accepted Answer

A)  It is always the preferred way to gauge customer interest in a product. 
B)  It is an excellent way to gauge customer interest for all types of products. 
C)  The goal of the MVP is to attract initial customers who can guide the direction of the product . 
D)  It is the least valuable if your product concept adopts incremental innovation. 
E)  If early adopters don't like your MVP, it typically means that the product is not viable. 
A)  It is always the preferred way to gauge customer interest in a product. 
B)  It is an excellent way to gauge customer interest for all types of products. 
C)  The goal of the MVP is to attract initial customers who can guide the direction of the product . 
D)  It is the least valuable if your product concept adopts incremental innovation. 
E)  If early adopters don't like your MVP, it typically means that the product is not viable.

Question 5

Briefly describe the launch strategy.

Accepted Answer

The final phase of the product developme

Question 6

_____ 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 7

When an entrepreneur validates a customer, he or she is assuring them that they are important to the entrepreneur and the entrepreneur's top priority, even if the reality is that the entrepreneur has other customers competing for the same resources.

Accepted Answer

A) True 
 B)False

Question 8

Identifying a problem that potential customers have may lead to a(n)

Accepted Answer

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

Question 9

An entrepreneur who produces a complete solution and controls all the complements is involved in

Accepted Answer

A)  new market development. 
B)  technology proprietorship. 
C)  system integration. 
D)  vertical architecture. 
E)  prototype engineering. 
A)  new market development. 
B)  technology proprietorship. 
C)  system integration. 
D)  vertical architecture. 
E)  prototype engineering.

Question 10

Opportunity recognition, feasibility, and prototype development are elements of

Accepted Answer

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

What are the eight tasks of the product development cycle? Identify the three main categories these tasks are grouped into.

_____ is defined as the activity that transforms a set of requirements into a format that brings all the elements into an integrated whole or system.

Briefly discuss the design process for both businesses that manufacture products and those that don't. How is the process similar? How is it different?

Which of the following statements about a minimum viable product (MVP) is true?

Briefly describe the launch strategy.

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

When an entrepreneur validates a customer, he or she is assuring them that they are important to the entrepreneur and the entrepreneur's top priority, even if the reality is that the entrepreneur has other customers competing for the same resources.

Identifying a problem that potential customers have may lead to a(n)

An entrepreneur who produces a complete solution and controls all the complements is involved in

Opportunity recognition, feasibility, and prototype development are elements of

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Protecting the Startups Assets

Building the Founding Team

Calculating Startup Capital Requirements

Preparing a Business Plan

Designing an Entrepreneurial Organization

Planning Startup Operations

Choosing the Legal Form of Organization

Developing a Startup Marketing Plan

Incorporating Ethics and Social Responsibility Into the Business

Funding Startup and Growth

Planning for Growth and Change

Filters

Exam 6: Prototyping and Validating a Solution

What are the eight tasks of the product development cycle? Identify the three main categories these tasks are grouped into.

_____ is defined as the activity that transforms a set of requirements into a format that brings all the elements into an integrated whole or system.

Briefly discuss the design process for both businesses that manufacture products and those that don't. How is the process similar? How is it different?

Which of the following statements about a minimum viable product (MVP) is true?

Briefly describe the launch strategy.

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

When an entrepreneur validates a customer, he or she is assuring them that they are important to the entrepreneur and the entrepreneur's top priority, even if the reality is that the entrepreneur has other customers competing for the same resources.

Identifying a problem that potential customers have may lead to a(n)

An entrepreneur who produces a complete solution and controls all the complements is involved in

Opportunity recognition, feasibility, and prototype development are elements of

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Protecting the Startups Assets

Building the Founding Team

Calculating Startup Capital Requirements

Preparing a Business Plan

Designing an Entrepreneurial Organization

Planning Startup Operations

Choosing the Legal Form of Organization

Developing a Startup Marketing Plan

Incorporating Ethics and Social Responsibility Into the Business

Funding Startup and Growth

Planning for Growth and Change

Filters