Domain 3 L1 Product/Market Fit Hypothesis

Making a product offering that people want and need is referred to as the

• Product/market fit

• fit

• targeted market fit

• product/audience fit

A product that is produced as a model or example in early development is called a

• phenotype

• genotype

• prototype

• novotype

The earliest and most cost effective prototype is known as a _______________.

• maximum viable product

• minimum viable product

• phase 1 product

• 1st offering

Minimum viable products are the final version of a product offering.

• True

• False

Creating a ​ (a)   viable product allows the company to ​ (b)   the product and collect customer ​ (c)   .

• minimum
• test
• feedback

Minimum viable products are the 1st version of a prototype with just enough features to be tested by early adopters.

• True

• False

The Product/Market Hypothesis consists of how many stages?

• 5

• 6

• 7

• 8

Please correctly order the phases of the Product/Fit Hypothesis.

• Prototype Phase

• Traction Phase

• Launch Phase

• Monetization Phase

• Idea Phase

The first stage of the Product/Market Fit Hypothesis is the idea stage when a company develops new concepts for a product or service.

• True

• False

The second phase of the Product Market Fit Hypothesis, where you test your minimum viable product and receive customer feedback is known as the __________________ phase.

• Launch

• Prototype

• Monetization

• Traction