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WorksheetsDomain 3 Product and Distribution
Total questions: 21
Worksheet time: 12mins
In addition to identifying the problem a product or service solves, a value hypothesis should promote things like product features, pricing, and the __________ as a means of enticing potential customers to purchase the product.
business model
materials
production cost
buyer fees
What do fulfillment centers do?
Store products indefinitely but have slow shipping times
Strategically store a company's products so that the product can be picked up by the customer
Strategically store a company's products so that the product can be quickly picked up and sent out
Temporarily store products for retail stores
When it comes to setting one's own quality standards, one must ensure they are __________.
written
profitable
reviewed
measurable
Buying office space is __________ in the long run in comparison to leasing.
more difficult
less difficult
less expensive
more expensive
A minimum viable product is a prototype used to test ease-of-use and __________.
cost
performance
functionality
viability
What are the two main types of distribution channels?
Physical
Digital
Indirect
Direct
What should one research before creating a product?
What is required to make the product
The number of products that will need to be produced
How much money investors are willing to invest in the product
How much it will cost to compensate employees
Which outside agencies might set quality control standards in some industries? (Select two)
Industry leaders
A company's department head
A government regulatory agency
Local environmentalists
What is value engineering?
Engineering products that are not meant to be replaced but have a high cost
Engineering products that are meant to be replaced frequently but have a low cost
Substituting low-cost components with high-quality components that still meet the product's lifetime duration and basic purpose
Substituting high-quality components with low-cost components that still meet the product's lifetime duration and basic purpose
Which are options for determining what a customer's service needs are? Choose two answers.
Talk with individuals interested in the service
Survey customers in the area
Survey companies that perform similar services
Send out surveys in local newspapers
__________ is measured by how well the product or service successfully serves its users' purpose.
Quality
Performance
Reliability
Viability
A key example of a prebuilt __________ service many companies use is a Software as a Service (SaaS) platform.
physical
digitial
automatic
manual
What might one have to do when listening to feedback from customers? Choose two answers.
Communicate with investors regarding the funding of the products
Create completely new products
Offer free promotional products
Change markets
Angela owns a coffee company. How should she ensure that her customers are receiving a high-quality product?
Repair products that have been sold to customers and are broken
Offer a discount on future purchases to customers
Survey customes and ask suggestions
Test a prototype
A bakery has developed a new artisan bread. The staff are giving away taste samples to customers as they enter the store.
What are two criteria the bakery can use to determine the quality of their new product? (Choose two)
Measure sales of the new bread after customers have sampled it.
Test the ingredients for freshness.
Observe how customers respond to the product after they have tasted it.
Ensure the ingredients are all organic.
Which of the following characteristic of fulfillment centers that differ from direct distribution?
Inventory is created on-demand rather than stored.
The manufacturer controls all aspects of distribution.
A fulfillment center is a zero level channel.
Fulfilment centers pack and ship for a manufacturer.
Which of the following are the missing phases of product/market fit?
______ Stage, Prototype Stage, Launch Stage, Traction Stage, __________ Stage, and finally Growth Stage.
Idea, Monetization
Idea, Profitable
Idea, Marketization
Invention, Mobilization
Indirect distribution channels use __________ to sell their products to the end customers.
the internet
middlemen
door-to-door sales
advertisements
You run a small pool service and are deciding whether to build your own website or have a website design company build the site. What type of analysis is needed to make the best decision possible? (Choose two)
Training employees with the knowledge to consistently deliver the service.
Burn rate
Creating an effective demonstration of your service for potential customers.
Value engineering
What should happen after one determines a company's quality control process meets the company's quality standards?
Each member of the quality control team must confirm that the process is effective before the process can become permanent
An internal team should review the results of product testing and sign off on the process to confirm it is effective
An internal team should review the results of product testing and look for ways to refine and improve upon the quality control process
The process should not be revised again
You have an idea for a new product. Market research suggests the product is needed to solve a problem and will be enthusiastically embraced by customers.
What is one of the first steps you must do before creating a product prototype?
Pre-sale the product for funding
Create a social media follwoign
identify materials
Launch a marketing campaign
