EDA NM Rainforest University Center - Market Analysis Assessment

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Complete this assessment to receive credit for viewing the April 17, 2019 New Mexico Rainforest EDA University Center Seminar, "Market Analysis" by Susan Cornelius. This quiz is based on both the seminar and the handouts. Recordings and supplemental materials can be found at NMRainforest.com

Name *

Email *

UNM Branch Campus (if applicable)

Gallup

Taos

Valencia

Los Alamos

Main Campus

Not applicable

Clear selection

According to the seminar, how many customers should you speak to when conducting customer discovery? *

Less than 5

5 to 25

25 to 100

True or False? The Customer, to a surprising degree, has significant control over determining your final product. *

True

False

True of False? Even if you do not have an initial prototype for your product, it is important to define markets and to perform customer interviews at the same time as you develop product. *

True

False

Which of the following statements are true? *

You may think you know what your market needs, but probably not.

All markets are uncertain.

By definition, you are creating a disruptive technology when markets are uncertain, pricing is uncertain, and you are unsure of market segments.

All the above.

In determining your Value Proposition, which of the following question(s) do you need to answer? *

What customer needs are we satisfying or what customer problem are we solving?

What value do we deliver to the customer?

Why will the customer choose our product technology over others?

All the above.

To further develop your Value Proposition, which of these statement(s) apply? *

Review what you have written then ask yourself, “Therefore what?” as many times as possible until you have created the bottom-line value of your product.

Share your Value Proposition with your customers, asking them to react to your product value.

Ask your customer what they think of the features you are offering and ask them what features they would like.

All of the above.

What is the most important purpose of the Customer Interview? *

To determine who does our technology create value for.

Determine which customers are likely to buy first.

Create a group of potential customers for your product.

All of the above.

True or False? When you complete the Customer Discovery Interview, it is important to ask for a referral to two more customers.

True

False

Clear selection

True or False? "Minimum Viable, Valuable, Validated" product means you can execute on the minimal product; customers will buy it at any price enabling you to make money; and customers say they will buy it. *

True

False

True or False? Based on Customer Discovery, the product you start out defining as the Minimum Viable Products (MVP) is unlikely to be the product you end up launching as your MVP. *

True

False

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