Quiz Detail

Q1 . What are the first 3 business assumptions to test?

A Customer, Problem, Solution

B Total Available, Served Available, Served Obtainable market sizes

C You are free of Patent, Trademark, or Copyright infringement

D Source of funding, Founding team, and Board of Advisers

Q2 . When is the best time to execute a massive marketing launch of your product?

A After you finish the product. That's when the company shifts focus from Engineering to Marketing and Sales.

B After you have achieved product-market fit and have optimized your sales funnel.

C Right before you get an investment, since the PR will help you find investors.

D Right after you get an investment, since you'll have the money to do the launch right.

E Before the product is done, so you can start building buzz.

Q3 . Which is not an effective strategy for delivering dependable service?

A Dealing with problems

B Product knowledge

C Long waiting time

D Short waiting time

Q4 . An employer values interpersonal skills because they contain the following:

A Hard Skills

B Psychological Distracters

C Service Breakdown

D Communication & Social Awareness

Q5 . What is Customer Development?

A A process for maximizing revenue through best of breed sales and marketing tactics.

B A framework for validating your market and product, building your conversion funnel, and scaling your business.

C A revolutionary startup methodology designed to quickly scale your Internet business.

D All of the above.

Q6 . Which best describes "Lean Startup?"

A A bootstrapped startup running opensource software that uses analytics to make key business decisions.

B A small startup using an iterative process to find a big market before "launching."

C A Startup that combines fast-release, iterative development methodologies “Customer Development” principles.

D All of the above.

Q7 . What are the Customer Development Market Types?

A Viral, Guerrilla, Direct, Social Media, E-mail

B Retail, Financial Services, Healthcare, Government, Manufacturing

C Blue Ocean, Disruptive, the Chasm, Tipping Point, Innovator

D New market, existing market, resegmented low cost, resegmented niche

E Total Available, Served Available, Served Obtainable

Q8 . What is the best way to learn whether your product solves a customer's problem?

A Interview

B Online survey

C Product usage analytics

D Usability testing

E Sales conversion rate

Q9 . What is the most important Lean Startup philosophy?

A Low burn

B Speed of product releases

C Speed of learning

D Speed of pivots

E Making money early

Q10 . Who are the best people to do Customer Development?

A Sales people, since they are most comfortable speaking with customers and usually "own" the relationship.

B Marketing people, since they are best at projecting the company's brand.

C Founders, since they hold the fundamental assumptions to be tested.

D Product Manager, since they know are experienced in speaking with customers about products.

E Customer Support, since they already talk to customers about their problems.

Do You Understand Customer Development?