ESB Practice Test

What 3 Statements help define a Product Market Fit?

• Product/market fit exists when you have the right solution to a problem worth solving

• When you receive a posititve response to a huge marketing campaign that includes giving away free product.

• A fit exists when people need your product rather than just seeing a potential benefit of using it.

• A rapid growth hypothesis ensures market/fit.

• When users love your product so much they tell other people to use it.

• Form a focus group

• Ask the sales team if demand increased

• Email an evaluation a week after the course

• Conduct onscreen pop-up quizzes

• Launch a marketing campaign

• Identify materials

• Pre-sale the product for funding

• Create a social media following

• Developing the product website and social media compaign.

• Finding a manufacturer.

• Sourcing materials needed for the components of the products.

• Establishing quality control measures and accountability.

• Creating your prototype to demonstrate the product's function to potential customers.

True or False - Prodfuct Price affects the length of the distribution channel

• True

• False

• Warehousing is outsourced.

• Direct distribution is also known as a zero level channel.

• Packing and shipping is done by a third-party.

• Inventory is stored for longer periods of time.

• The manufacturer controls all aspects of distribution.

• How much it will cost to compensate employees

• How much money investors are willing to invest in the product

• The number of products that will need to be produced

• What is required to make the product

• Digital

• Direct

• Physical

• Indirect

• Temporarily store products for retail stores

• Strategically store a company's products so that the product can be quickly picked up and sent out

• Strategically store a company's products so that the product can be picked up by the customer

• Store products indefinitely but have slow shipping times

Pick all that apply

• A company's department head

• Local health and safety inspectors

• Industry leaders

• CEOs

• A government regulatory agency