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Entrepreneurship Warm-Up 9/25/23

Quiz by Nekeisha King-Price

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What is the purpose of a prototype in the product development process?
29
To promote the product to potential customers.
To calculate the manufacturing costs.
To validate and test the design before mass production.
To hire a design team for the product.

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5 questions

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Q1
What is the purpose of a prototype in the product development process?
To promote the product to potential customers.
To calculate the manufacturing costs.
To validate and test the design before mass production.
To hire a design team for the product.
30s
Q2
What is the purpose of a business plan when creating your own product?
To patent the product idea.
To test the market demand for the product.
To create the product prototype.
To outline the objectives, strategies, and financial projections of the product.
30s
Q3
What is the purpose of conducting market research when creating your own product?
To secure funding for the product.
To gather information about customer preferences, market trends, and competition.
To decide on the pricing strategy for the product.
To create prototypes for testing.
30s
Q4
What is a unique selling proposition (USP) in the context of creating your own product?
The cost of manufacturing the product.
The number of units sold in the market.
A distinct feature or benefit that sets your product apart from competitors in the market.
The distribution channels used to sell the product.
30s
Q5
What is market segmentation in the context of creating your own product?
Identifying competitors in the market.
Dividing the target market into distinct groups based on demographics, behavior, or needs.
Determining the manufacturing process for the product.
Designing a product specific to one individual customer.
30s

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