read Experimenting in the Entrepreneurial Venture Links to an external site. (2. Essential Reading, pgs. 3-19) from the Harvard Business Publishing Coursepack. Once you’ve completed the material, take the reading quiz. This is an open-book quiz.As you read the reading assignment and take the quiz, pay close attention to the material and how it relates to your perspective as an entrepreneur. Class discussions will be held on this reading, and the policy in this class is that only those who have done the reading can interact during the group reading discussions.A Product-market fit is achieved whenGroup of answer choicessome customers buy the product.the team builds a product to fit the needs of customers.the product offering profitably meets target customers’ needs.the business starts scaling.B .Which of the following is NOT part of the lean startup philosophy?Group of answer choicesRapid iterationSmall batchesCross-functional teamsShort cycle timesC.The primary purpose of a minimum viable product (MVP) is to:Group of answer choicestest falsifiable hypotheses.determine how much it may cost to produce the product.determine the minimum feature set that can be built into the product.attract early adopters.D What kind of change would NOT constitute a pivot?Group of answer choices Modifying the target customer setModifying the product features and value propositionChanging the go-to-market planSelling the businessE.The MVP is the simplest possible offering required to disprove a hypothesis.Group of answer choicesTrueFalse

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Answered: A Product-market fit is achieved when…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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read Experimenting in the Entrepreneurial Venture Links to an external site. (2. Essential Reading, pgs. 3-19) from the Harvard Business Publishing Coursepack. Once you’ve completed the material, take the reading quiz. This is an open-book quiz.

As you read the reading assignment and take the quiz, pay close attention to the material and how it relates to your perspective as an entrepreneur. Class discussions will be held on this reading, and the policy in this class is that only those who have done the reading can interact during the group reading discussions.

A Product-market fit is achieved when

Group of answer choices
1. some customers buy the product.
2. the team builds a product to fit the needs of customers.
3. the product offering profitably meets target customers’ needs.
4. the business starts scaling.
  B .Which of the following is NOT part of the lean startup philosophy?
  Group of answer choices
  
  Rapid iteration
  
  Small batches
  
  Cross-functional teams
  
  Short cycle times
  
  C.The primary purpose of a minimum viable product (MVP) is to:
  
  Group of answer choices
  
  test falsifiable hypotheses.
  
  determine how much it may cost to produce the product.
  
  determine the minimum feature set that can be built into the product.
  
  attract early adopters.
  
  D What kind of change would NOT constitute a pivot?
  
  Group of answer choices
  
  Modifying the target customer set
  
  Modifying the product features and value proposition
  
  Changing the go-to-market plan
  
  Selling the business
  
  E.The MVP is the simplest possible offering required to disprove a hypothesis.
  
  Group of answer choices
  True
  
  False

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