Idea Generation and Business Opportunities

Which of the following techniques encourages generating a wide range of ideas without judgment?

• Market Gap Analysis

• Brainstorming

• SWOT Analysis

• Feasibility Study

Airbnb's success is an example of which technique for identifying a business opportunity?

• Customer Feedback

• Observation and Trendspotting

• Market Gap Analysis

• SWOT Analysis

Which company used customer feedback to identify opportunities for environmentally friendly and cruelty-free beauty products?

• Lush

• Beyond Meat

• Coca-Cola

• Netflix

Beyond Meat's business success was based on observing which of the following trends?

• The rise of plant-based meat alternatives

• Affordable short-term accommodations

• Growth of streaming services

• Rise of fast fashion

Which method helps entrepreneurs evaluate the cost, time, and resources needed for a business idea before full-scale launch?

• Prototyping and Testing

• Feasibility Studies

• Market Research

• Business Model Canvas

Which analysis helps in understanding the strengths, weaknesses, opportunities, and threats of a business idea?

• Trendspotting

• Market Research

• SWOT Analysis

• Pilot Programs

What method involves gathering data on customer demographics and preferences to assess demand for a product or service?

• Feasibility Studies

• Market Research

• Brainstorming

• Prototyping

Dropbox tested their product idea by first creating a simple video demonstration. This is an example of which method?

• Market Gap Analysis

• Customer Feedback

• Prototyping and Testing

• Pilot Programs

Which tool helps entrepreneurs outline key aspects of their business idea, such as value propositions and revenue streams?

• Market Research

• Business Model Canvas

• Trendspotting

• Feasibility Studies

Starbucks often tests new products in select stores before launching them widely. This process is known as what?

• Prototyping and Testing

• SWOT Analysis

• Pilot Programs and Market Trials

• Market Gap Analysis