TLE 10 OL QZ

Which of the following is NOT a step in the six stages of product development?

• Business Analysis
• Commercialization
• Product Destruction
• Idea Generation

What is a key benefit of having a Unique Selling Proposition (USP) in marketing?

• It eliminates the need for market research
• It reduces production costs significantly
• It helps differentiate your product from competitors
• It guarantees sales success

Which of the following is a criterion for selecting a business idea?

• Number of competitors only
• Color of the product packaging
• Ignoring customer needs
• Availability of suppliers

What should a marketable product satisfy?

• Legal requirements
• Company objectives and image
• Environmental standards
• All of the above

Which of the following is an example of creating a new market segment?

• Selling a product only to existing customers
• Introducing a product for a previously untapped customer group
• Increasing the price of a product
• Copying a competitor’s product

What is the best source for generating new product ideas?

• Only company executives
• Researchers, consumers, and competitors
• Random guessing
• Ignoring customer feedback

What is the role of creativity in product development?

• To foster innovation and differentiation
• To increase product cost
• To copy existing products
• To reduce product quality

Which of the following is NOT part of the business analysis stage?

• Defining product features
• Planning development
• Estimating market demand
• Producing the final product

What does 'value' mean to the customer?

• The price of the product only
• The benefit and usefulness the product provides
• The cost of production
• The number of features regardless of usefulness

Why is it important to question assumptions when selecting a business idea?

• To copy competitor
• To avoid risks completely
• To generate new ideas and foster innovation
• To maintain the status quo