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ESB Certification Exam Study Guide Domain 3 Questions and Answers 2024
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ESB Certification Exam Study GuideDomain 3
One can expect their sales volume to be high when they are in ____ fit - answer
product/market
Product/market fit is making a ____ that many people want - answer product or service
A business must provide customers with quality products to maintain customer ____ -
answer satisfaction
A Minimum Viable Product (MVP) is a ____ used to test ease-of-use and functionality to
help determine the user's experience and ultimately improve the user's experience with
the product - answer prototype
In which stage should one develop a value hypothesis? - answer Launch
In which stage do sales gain momentum? - answer Traction
In which stage is a Minimum Viable Product (MVP) created? - answerPrototype
In what stage does one find their product/market fit? - answerGrowth
In which stage does one start to earn revenue? - answerMonetization6
In which stage does one develop a concept for a product or service? - answerIdea
What is a value hypothesis? - answera value hypothesis promotes things like product
features, pricing, and a company's business model as a means of enticing potential
customers to purchase the product
What is the International Standards Organization's definition of quality? - answerthe
organization defines quality as the totality of features and characteristics of a product or
service that bear on its ability to satisfy stated or implied needs
Which two aspects of a product do Minimum Viable Products (MVPs) tests? -
answerEase-of-use and Functionality
Before creating a product, it is wise to ____ what it takes to produce the product -
answerresearch
, For ____, one must spend time finding out what customers' needs are - answerservices
A business can use ____ to cut down on costs or to improve its product's function -
answervalue engineering
A key example of a ____ service many companies use is a software as a service
(SaaS) platform. - answerprebuilt
When developing a quality control process, one should start by determining their quality
____ - answerstandards
When setting one's own quality standards, one must ensure that the standards are ____
- answermeasurable
What is one piece of information one should research before offering carpet cleaning
services? - answerCarpet cleaning methods, types of carpet cleaners and their costs,
types of equipment used to clean carpets and their costs, customer demand, and input
from customers
What is one piece of information one should research before opening an ice cream
parlor? - answerIce-cream flavors, equipment needed to make ice-cream, what
ingredients are needed to make ice cream, where to purchase ice cream if it will not be
made in-house, the cost of making or purchasing ice cream, and how other ice cream
sellers sell their ice cream
What is one piece of information one should research before creating a pet toy? -
answerHow other pet toy manufacturers make their toys, what materials are needed to
make the toy and their costs, and where the toy will be manufactured
What is one piece of information one should research before offering computer repair
services? - answerTools needed to complete repairs and their costs, specific types of
repairs that will be offered, customer demand, and input from customers
Offers a user more control - answerBuild your own
User is responsible for the maintenance of the software - answerBuild your own
Has a subscription fee to use the software - answerPrebuilt
Saves a user time - answerPrebuilt
Provides more functionality for specific needs - answerBuild your own
Why might a business choose to lease office space rather than buy office space? -
answerSome businesses may not have the cash flow for a down payment to buy office
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