Domain 3 Lesson1

​Production and Distribution

Labelling

Page 35 Lesson Review

Drag-n-Drop to fill in the missing words according to the information presented by the video. Video section titles are found in the brackets. 

 [Elements of the Product/Market Fit Hypothesis] 

1. When a company has product/market fit you can expect their sales volume is ( low or high)?

2. Product/market fit is making a product or (market or service)? that many people want.

[Performance and Quality Criteria] 

3. A business must provide customers with quality products to maintain customer (survey/satisfaction) ? . 

4. A Minimum Viable Product (MVP) is a (prototype/machine)? used to test ease-of-use and functionality to help determine the user's experience and ultimately improve the user's experience with the product.t. 

Drag labels to their correct position on the image

high

prototype

service

satisfaction

Labelling

Page 36 Product/Market Fit

Product/market fit is making a product or service that many people want. One has reached product/market fit when their sales volume is high and continues to grow because customers buy the products and recommend them to others. Companies go through different phases to reach product/market fit. These phases are the idea stage, the prototype stage, the launch stage, the traction stage, the monetization stage, and the growth stage.

Drag-and-Drop Questions: 1? In which stage should one develop a value hypothesis? 2? In which stage do sales gain momentum? 3? In which stage is a Minimum Viable Product (MVP) created? 4? In what stage does one find their product/market fit? 5? In which stage does one start to earn revenue? 6? In which stage does one develop a concept for a product or service? 7.?What is a value hypothesis?

Drag labels to their correct position on the image

prototype

entice customer to purchase

monetization ($)

traction

Idea

growth

launch

promotes product features,pricing

Labelling

Page 37 Quality

A business must provide customers with quality products to maintain customer satisfaction. Customers do not want to purchase products that are difficult to use or prone to breaking. Purpose Drag-n-Drop ?

1? What is the International Standards Organization’s definition of quality?

2? Which two aspects of a product do Minimum Viable Products (MVPs) test?

Drag labels to their correct position on the image

of product or service that

Totality of features/characteristics

Functionality

bear on its ability to

Ease-of-use

satisfy stated or implied needs.

Poll

Did this activity help you in your understanding of this topic? If you answer anything but positive, please restart this lesson and make sure your "Read Aloud" option is selected and your volume is at a level you can hear.

• Yes

• A little bit

• Not at all

• I don't get most of it.