One can expect their sales volume to be ______ when they are in product/market fit. (high or low)
ESB V2 Domain 3

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Business
•
9th - 12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
high
Answer explanation
When a business achieves product/market fit, it means their product meets market demand effectively, leading to a high sales volume. Therefore, one can expect their sales volume to be high in this scenario.
2.
FLASHCARD QUESTION
Front
Product/market fit is making a product or ____________ that many people want. (creating a price or service)
Back
service
Answer explanation
The correct choice is 'service' because product/market fit refers to creating a product or service that meets the needs of a large number of people, indicating demand in the market.
3.
FLASHCARD QUESTION
Front
A business must provide customers with quality products to maintain customer _____________. (appreciation or satisfaction)
Back
satisfaction
Answer explanation
The correct choice is 'satisfaction' because maintaining customer satisfaction is essential for a business to ensure repeat purchases and loyalty, while 'appreciation' does not directly relate to product quality.
4.
FLASHCARD QUESTION
Front
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. (piece of equipment or prototype)
Back
prototype
Answer explanation
A Minimum Viable Product (MVP) is a prototype used to test ease-of-use and functionality. It helps determine the user's experience, allowing for improvements to enhance overall satisfaction with the product.
5.
FLASHCARD QUESTION
Front
In which stage should one develop a value hypothesis? Options: Growth, Idea, Traction, Launch, Prototype
Back
Launch
Answer explanation
A value hypothesis is developed during the Launch stage to test assumptions about customer needs and product value. This is crucial for validating the product's market fit before scaling.
6.
FLASHCARD QUESTION
Front
In which stage do sales gain momentum? Options: Growth, Idea, Traction, Launch, Monetization
Back
Traction
Answer explanation
Sales gain momentum in the Traction stage, where a product starts to see increased customer interest and sales growth, indicating that the market is responding positively.
7.
FLASHCARD QUESTION
Front
In which stage is a Minimum Viable Product (MVP) created? Options: Growth, Idea, Traction, Launch, Prototype
Back
Prototype
Answer explanation
A Minimum Viable Product (MVP) is created during the Prototype stage, where the focus is on developing a basic version of the product to test its viability and gather user feedback before full-scale development.
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