What is achieved when sales volume is high and continues to grow?

• Product/market fit

• Market saturation

• Brand loyalty

• Customer satisfaction

Which stage involves developing a concept for a product or service?

• Prototype stage

• Idea stage

• Launch stage

• Growth stage

What is created during the Prototype stage?

• Business plan

• Marketing strategy

• Minimum Viable Product (MVP)

• Revenue model

At which stage do sales gain momentum and growth begins?

• Launch stage

• Traction stage

• Monetization stage

• Growth stage

During which stage does a business start to earn revenue?

• Idea stage

• Prototype stage

• Monetization stage

• Traction stage

What is quality measured by according to the provided definition?

• The price of the product or service

• The popularity of the product or service

• How well the product or service serves its user's purpose

• The brand name of the product or service

According to ISO, what does the totality of features and characteristics of a product or service affect?

• Its market value

• Its ability to satisfy stated or implied needs

• Its environmental impact

• Its production cost

What is the purpose of a Minimum Value Proposition?

• To create a final product for the market

• To test and improve user experience

• To increase production costs

• To eliminate user feedback

What is one of the first steps in researching a product?

• Talk with others that have produced the same or a similar product

• Immediately start manufacturing the product

• Ignore similar products in the market

• Skip researching and go straight to selling

What should you gather information on when researching how to make a product?

• How to make the product, identify the required materials, and determine how much the materials will cost

• Only the color options for the product

• The history of similar products

• The personal preferences of the manufacturer