ESB v2 Domain 3

What is a distribution center?

• Receives and temporarily stores goods before fulfilling the customer's order and is often used for retail stores.

• Strategically stores products so that when a customer places an order, the product can be quickly picked up and sent out.

What is a fulfillment center?

• Receives and temporarily stores goods before fulfilling the customer's order and is often used for retail stores.

• Strategically stores products so that when a customer places an order, the product can be quickly picked up and sent out.

Kai and Liam are working on a new app that helps people manage their daily tasks more efficiently. They want to know if they have achieved the Market/Fit Hypothesis. What does this mean for their app?

• Exists when you have the right solution to a problem worth solving.

• When their app is finished and runs bug-free.

What is product-market fit?

• Exists when you have the right solution to a problem worth solving.

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

What is the purpose of creating a Minimum Viable Product (MVP) when Ava and Rohan are launching their new tech startup?

• To evaluate customer demand.

• To collect feedback about their product.

• To see if they work well together.

• To create an inexpensive prototype.

During which phase of product development is an MVP typically developed?

• Prototype

• Design

• Test

• Ideate

What can a business use value engineering for?

• To cut down on costs.

• To improve its product's function.

• To make it more valuable.

What are some methods to identify a customer's service requirements? Select three options.

• Engage in conversations with potential clients

• Conduct surveys among local customers

• Interview businesses offering similar services

• Make direct phone inquiries

• Distribute questionnaires through community newsletters

Which are two examples of direct distribution channels?

• Wholesaler sales

• Retail sales

• Door-to-door sales

• E-commerce sales

Minimum viable products are the final version of a product offering.

• True

• False