Deck 4: Prototyping Your Ideas

Question 1

The prototyping process focuses on the representation of the proposed product or service and testing assumptions about the product or service.

Answer 1

True

Question 2

The entrepreneur's perception of his/her product will be similar to that of the target customer.

Answer 2

False

Question 3

Feedback from many potential customers will only confuse the entrepreneur, so prototyping must be done discretely. The fewer people testing the prototype, the better.

Answer 3

False

Question 4

The prototyping process usually involves the creation of a maximum of two prototypes which is important if you want to control your expenses.

Question 5

The prototyping process forces the entrepreneur to get out in the field and engage potential customers.

Question 6

Products that fail in the marketplace are generally based on incorrect assumptions about what the target market values.

Question 7

When prototyping, the entrepreneur must make notes about any changes or alterations to the product or service that the customer may propose.

Question 8

Prototyping will probably prolong the time-to-market, but is still worth it.

Question 9

Low fidelity prototypes express the rough product concept.

Question 10

The purpose of high fidelity prototyping is to get ideas out rapidly.

Question 11

The most challenging aspect about the prototyping process is to quickly learn and then develop additional prototypes based on customer feedback.

Question 12

The most vital stage in the prototyping process is "Testing Assumptions" because it is where you get the most information.

Question 13

The core purpose of prototyping is to get feedback which can be acted on.

Question 14

Prototyping is the process of putting together working models in order to present ideas, test aspects of design, and gather early customer feedback. The more time and care you take to build the prototype, the better.

Question 15

An entrepreneur must possess special technical skills necessary to create the appropriate prototype, otherwise the testing of the product won't be insightful.

Question 16

Generally, entrepreneurs move from one low fidelity prototype into several high fidelity prototypes because more testing has to happen to understand highly customized details.

Question 17

Introducing a new product or service involves substantial risk and numerous innovations fail.

Question 18

Prototyping can signal venture readiness to potential investors.

Question 19

Almost all new products require significant trial and error in developing the final version before they are ready for the market.

Question 20

Different prototypes may emphasize different product elements in order to confirm a final product design.

Question 21

Some outcomes of prototyping are:

A) Gaining new insights about an entrepreneurial opportunity
B) Demonstrate venture readiness to potential investors
C) Shorter time-to-market
D) a and c
E) All of the above

Question 22

Presenting a "Looks-like" prototype to the customer is challenging because it demands the customer to imagine the functionality of the product.

Question 23

Prototyping is helpful for testing products and services.

Question 24

Prototyping is the process of quickly putting together ___________.

A) Working models
B) Tangible inventions
C) Product designs
D) An idea of a service
E) A paper prototype

Question 25

Simulations are a great way to prototype services.

Question 26

"Looks-like" prototypes are valuable to test market acceptance of the functionality of the product.

Question 27

Which are the steps of the prototyping process?

A) Learning & iterating, Analyzing feedback, Representing assumptions, and Testing assumptions
B) Learning & iterating, Analyzing feedback, and Testing assumptions
C) Learning & iterating, Representing assumptions, Testing assumptions
D) Analyzing feedback, Representing assumptions, and Testing assumptions
E) Learning & analyzing, Representing assumptions, and testing feedback

Question 28

In "co-creation," target customers are engaged with the objective of defining final specifications of the product or service being tested.

Question 29

A "minimum viable product" (MVP) is a version of a new product concept which allows a team to collect the maximum amount of feedback with the least effort.

Question 30

The core purpose of the prototyping process and developing a prototype is to get a response from a target customer. This is important mainly because ____________.

A) Customers have all the answers about product faults
B) The entrepreneur may instantly act on the feedback given
C) The entrepreneur can compare his perception to that of his customers
D) The feedback can later on be filtered
E) Target customers opinions are most illuminating

Question 31

Prototyping demonstrated commitment and will contribute substantially to securing funding.

Question 32

"Works-like" prototypes are valuable to test the market acceptance of the design of the product.

Question 33

It is foolish to jump from an idea or concept straight to a final product design.

Question 34

What the entrepreneur believes to be the best attributes of his product and what the target customer believes are usually __________.

A) Very similar
B) Very different
C) Almost the same
D) Somewhat different
E) Similar but expressed differently

Question 35

Introducing a new product or service involves substantial risk, and upwards of ___________ innovations fail, depending on industry.

A) 20 - 50%
B) 40 - 70%
C) 50 - 90%
D) 60 - 90%
E) 70 - 90%

Question 36

If you want to test an electronic product, you are going to have to build a version of the final product completely.
Multiple Choice

Question 37

3D printing is a great way of making a prototype, the only problem is that you have to purchase the printer and it is expensive.

Question 38

A prototype should answer vital questions about a product or service such as:

A) Does my target customer like my product?
B) How may I alter my product to make it more attractive?
C) How does my product compare to existing solutions?
D) a and b
E) All of the above

Question 39

An assumption to be tested with a prototype could be:

A) Price
B) Product benefits
C) Product use
D) a and b
E) All of the above

Question 40

It is more useful to design a prototype alongside your target customers in order to leverage "co-creation."

Question 41

In recent years, the cost and complexity of 3D printing have _________ .

A) Risen dramatically
B) Fallen dramatically
C) More or less remained equal
D) Increased and fallen respectively
E) Have fallen and increased respectively

Question 42

Production prototypes assist in the _______ planning of production.

A) Early
B) Final
C) Prototype
D) Financial
E) All of the above

Question 43

In co-creation, target customers are engaged _______ and ________ in the process of idea generation and product development.

A) Late, conclusively
B) Early, as observers
C) Early, continuously
D) As observers, listeners
E) None of the above

Question 44

To demonstrate a new product, creators of crowdfunding campaigns often must develop and feature ________ prototypes to convey not only their creative vision but their commitment.

A) Electronic
B) Works-like
C) Looks-like
D) Paper
E) None of the above

Question 45

What type of prototype expresses roughly the product concept?

A) Low fidelity prototype
B) High fidelity prototype
C) Looks-like prototype
D) Works-like prototype
E) All prototype models, it is the whole point.

Question 46

A well designed prototype conveys that the entrepreneur has thought through the __________ , going from ____________ to ____________.

A) Design plan, the idea, the final product
B) Complete prototyping process, the idea, the final prototype
C) Complete prototyping process, the idea, the final manufacture
D) Production plan, the idea, the final manufacture
E) None of the above

Question 47

When prototyping a service, a ____________ prototype might be offering a simulation of how a service is performed.

A) Wire frame
B) Looks-like
C) Works-like
D) 3D
E) b and c

Question 48

____________ is the representation of a concept using paper or cardboard, markers and tape.

A) Low fidelity prototyping
B) High fidelity prototyping
C) Looks-like prototyping
D) Paper prototyping
E) Works-like prototyping

Question 49

What type of prototype model aims to simply test the design of the product?

A) Low fidelity prototype
B) High fidelity prototype
C) Looks-like prototype
D) Works-like prototype
E) All prototype models; that is the whole point

Question 50

Currently in the market you can purchase a 3D printer for between $________ and $_________ which could print in an array of plastic types and colors.

A) 10,000 and 50,0000
B) 3,0000 and 6,000
C) 1,000 and 5,000
D) 500 and 1,000
E) 200 and 700

Question 51

The growth of online crowdfunding and pitch videos, which are central to crowdfunding campaigns, have highlighted the value of ___________.

A) Prototyping
B) Raising money
C) Final products
D) 3D printing
E) None of the above

Question 52

While historically 3D printing has been for ____________ and ____________, increasingly 3D printing is becoming an ____________.

A) end manufacturing products, prototyping, model-making platform
B) model-making, plastic prototyping, final prototyping platform
C) paper prototyping, plastic prototyping, model-making platform
D) prototyping, model-making, end manufacturing platform
E) design prototyping, final products, functional prototyping platform

Question 53

Production prototypes consider if the product has been designed, for example, to ____________, ____________, and ___________.

A) Minimize the number of parts, chances of product failure, and production costs.
B) Maximize the number of components, chances of product failure, and revenues.
C) Minimize the number of components, success rate, and cost of capital.
D) Minimize the number of parts, attractiveness of the product, and production costs.
E) None of the above

Question 54

Usually, new products and services require ____________ to develop before they are ready for the target market.

A) 1 month
B) 1 or 2 prototypes
C) Significant trial and error
D) The feedback of at least 100 customers
E) a and d

Question 55

Often it is more useful to _____________ your prototype in order to discover unexpected opportunities.

A) Independently design
B) Self-assess
C) Co-create with the target audience
D) Co-assess with the target audience
E) a and d

Question 56

What type of prototype model aims to test the functionality of the product?

A) Low fidelity prototype
B) High fidelity prototype
C) Looks-like prototype
D) Works-like prototype
E) All prototype models; that is the whole point

Question 57

__________ is a type of 'additive manufacturing' where a medium, such as plastic, ceramic, or metal, is extruded through a computer-controlled tool head which lays down the medium in layers thus building up a real life product of three dimensions.

A) Paper prototyping by adding different material pieces
B) 3D printing
C) Plastic/ceramic/metal line manufacturing
D) Wood prototyping by adding different material pieces
E) Magic prototyping

Question 58

What type of prototype model looks and functions like the final product concept?

A) Low fidelity prototype
B) High fidelity prototype
C) Looks-like prototype
D) Works-like prototype
E) All prototype models, it is the whole point.

Question 59

The most vital stage in the prototyping process is __________ .

A) Learning & iterating
B) Testing assumptions
C) Representing assumptions
D) Analyzing feedback
E) All the stages are equally important

Question 60

Chances are, that before you build a 3D printing prototype, it makes more sense to build a _____________, which can address many questions quickly and efficiently.

A) Wood and plastic prototype
B) Functional prototype
C) Paper prototype
D) Electronic prototype
E) None of the above

Question 61

As an output of the prototyping process, many entrepreneurs aim to develop a ___________, one that drives early engagement and rapid learning with customers.

A) Minimum viable product
B) Final complete product
C) Paper prototype
D) Look-like prototype
E) None of the above

Question 62

Developing fully-created products when exploring a new venture is usually __________, _____________ and ____________.

A) Productive, enlightening, costly
B) Productive, enlightening, profitable
C) Time-consuming, costly, more enlightening than prototyping
D) Time-consuming, costly, extremely risky
E) Productive, costly, extremely risky

Question 63

A Minimum Viable Product (MVP) can be viewed as the product with _____________ as it seeks to ______________ the information learned about the customer per dollar spent.

A) The highest risk, minimize
B) The lowest ROI risk, maximize
C) The highest ROI risk, maximize
D) The highest ROI risk, minimize
E) None of the above

Question 64

Entrepreneurs should _____________ to develop a new product when exploring a venture idea.

A) Focus on raising money
B) Resist the temptation
C) Save all their strength
D) Immediately try
E) d and a

Question 65

Developing and testing a Minimum Viable Product (MVP) focuses on ______________ first, and then in _________________.

A) Product development, customer engagement
B) Customer engagement, product development
C) Customer development, product design
D) Product design, product functionality
E) Product development, profitability