Marketing Fundamentals: Proof of Concept
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Questions and Answers

What is the significance of having proof of concept in a startup business?

  • To guarantee that your product will be successful without any further marketing efforts
  • To ensure you have enough money to invest in marketing
  • To confirm that people are interested in your product or service (correct)
  • To establish a physical store for your business
  • What is the purpose of setting smart objectives according to the text?

  • To increase the complexity of your business goals
  • To delay progress in your business by setting vague goals
  • To make your objectives specific, measurable, achievable, realistic, and timely (correct)
  • To ensure that your goals are unattainable
  • How can a startup business go about getting proof of concept?

  • By receiving positive feedback and testimonials
  • By conducting extensive market research
  • By setting specific and unique goals to achieve relative success (correct)
  • By setting general and vague goals
  • What is one strategy mentioned in the text that smart online business owners use before developing a product?

    <p>Create a sales page and sell the product before development</p> Signup and view all the answers

    In the context of the text, what does MVP stand for?

    <p>Minimum Viable Product</p> Signup and view all the answers

    Why is it important to attach a number to your goal when establishing proof of concept?

    <p>To provide a clear indicator of success and progress</p> Signup and view all the answers

    What does 'smart objectives' stand for in the context of the text?

    <p>'Specific, Measurable, Achievable, Realistic, Timely'</p> Signup and view all the answers

    What does having 'proof of concept' mean for a startup business?

    <p>Having evidence that the product or service will appeal to customers</p> Signup and view all the answers

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