Write ups No.

7 Questions and Answers

Read the following and choose the correct answer.

1. What is customer validation?

a) It focuses on understanding your customers.

b) It develop a replicable sales process, an essential step in scaling a business.
c) It generates demand, and identify and tease out potential customers.
d) It focuses on building your organization to scale and executing the business plan.

2. The following are the importance of customer validation except one:

a) You can prove that you have set of customers and a market who react positively to the product.
b) To avoid failure of your business.
c) It helps you to gain insights to design your business model.
d) It helps competitors the opportunity to seize the opportunities on their own.

3. What is the first thing to do before validating your customer?

a) Identify first the earliest adopters.

b) Identify a sustainable business model.
c) Develop a predictable sales process.
d) All of the above

4. It is also known as “target market”.

a) Potential seller
b) Potential consumer
c) Service provider
d) Vendor

5. It is something that an individual desires, but would be able to live without.

a) Needs
b) Wants
c) Interests
d) Hobby

6. When considering the services to offer customers, a business should determine if a specific service
would accomplish which goal?

a) Enhance the customer satisfaction levels

b) Increase the number of products possibly returned by customers
c) Offend the existing competitors of the business
d) Stabilize variable interest rates
7. What is the process of combining Engineering Skillset with Entrepreneurial Mindset in order to create
value to its customer as well as the stakeholders?

a) Creativity
b) Business Planning
c) Innovation
d) Technopreneurship

8. Which of the following is not a definition of technoprenuership?

a) It is a new breed of entrepreneurship

b) It involves a coming together of people who are intelligent, driven, creative, and tech-savvy.
c) It is not as much about the money as it is about the affirmation that the “idea” is a worthy one
and that it works.
d) Its success hinges on one person only.

9. The process of creating something new that makes life better is called:

a) Technology
b) Innovation
c) Brand recognition
d) Opportunity cost

10. One way to obtain information about the customer is :

a) By applying tests and quizzes

b) By running a market research
c) By pushing them to give away information
d) By just waiting for them to come to business

Answers:

1. B
2. D
3. A
4. B
5. B
6. A
7. D
8. D
9. B
10. B