ESB Certification Exam Study Guide Domain 3(100% Correct)
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ESB Certification
One can expect their sales volume to be high when they are in ____ fit - ANSWERSproduct/market
Product/market fit is making a ____ that many people want - ANSWERSproduct or service
A business must provide customers with quality products to maintain customer ____ - ANSWERSsatisfaction
A Min...
ESB Certification Exam Study Guide
Domain 3(100% Correct)
One can expect their sales volume to be high when they are in ____ fit -
ANSWERSproduct/market
Product/market fit is making a ____ that many people want - ANSWERSproduct or
service
A business must provide customers with quality products to maintain customer ____ -
ANSWERSsatisfaction
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 - ANSWERSprototype
In which stage should one develop a value hypothesis? - ANSWERSLaunch
In which stage do sales gain momentum? - ANSWERSTraction
In which stage is a Minimum Viable Product (MVP) created? - ANSWERSPrototype
In what stage does one find their product/market fit? - ANSWERSGrowth
In which stage does one start to earn revenue? - ANSWERSMonetization6
In which stage does one develop a concept for a product or service? - ANSWERSIdea
What is a value hypothesis? - ANSWERSa 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? - ANSWERSthe
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? -
ANSWERSEase-of-use and Functionality
Before creating a product, it is wise to ____ what it takes to produce the product -
ANSWERSresearch
, For ____, one must spend time finding out what customers' needs are -
ANSWERSservices
A business can use ____ to cut down on costs or to improve its product's function -
ANSWERSvalue engineering
A key example of a ____ service many companies use is a software as a service
(SaaS) platform. - ANSWERSprebuilt
When developing a quality control process, one should start by determining their quality
____ - ANSWERSstandards
When setting one's own quality standards, one must ensure that the standards are ____
- ANSWERSmeasurable
What is one piece of information one should research before offering carpet cleaning
services? - ANSWERSCarpet 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? - ANSWERSIce-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? -
ANSWERSHow 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? - ANSWERSTools 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 - ANSWERSBuild your own
User is responsible for the maintenance of the software - ANSWERSBuild your own
Has a subscription fee to use the software - ANSWERSPrebuilt
Saves a user time - ANSWERSPrebuilt
Provides more functionality for specific needs - ANSWERSBuild your own
Why might a business choose to lease office space rather than buy office space? -
ANSWERSSome businesses may not have the cash flow for a down payment to buy
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