Do You Understand Customer Development?

8 Questions | Total Attempts: 95

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Customer Quizzes & Trivia

Test your knowledge of Customer Development and Lean Startup!Brought to you by the authors of The Entrepreneur's Guide to Customer Development.


Questions and Answers
  • 1. 
    What is Customer Development?
    • A. 

      A process for maximizing revenue through best of breed sales and marketing tactics.

    • B. 

      A framework for validating your market and product, building your conversion funnel, and scaling your business.

    • C. 

      A revolutionary startup methodology designed to quickly scale your Internet business.

    • D. 

      All of the above.

  • 2. 
    Which best describes "Lean Startup?"
    • A. 

      A bootstrapped startup running opensource software that uses analytics to make key business decisions.

    • B. 

      A small startup using an iterative process to find a big market before "launching."

    • C. 

      A Startup that combines fast-release, iterative development methodologies “Customer Development” principles.

    • D. 

      All of the above.

  • 3. 
    When is the best time to execute a massive marketing launch of your product?
    • A. 

      After you finish the product. That's when the company shifts focus from Engineering to Marketing and Sales.

    • B. 

      After you have achieved product-market fit and have optimized your sales funnel.

    • C. 

      Right before you get an investment, since the PR will help you find investors.

    • D. 

      Right after you get an investment, since you'll have the money to do the launch right.

    • E. 

      Before the product is done, so you can start building buzz.

  • 4. 
    What is the best way to learn whether your product solves a customer's problem?
    • A. 

      Interview

    • B. 

      Online survey

    • C. 

      Product usage analytics

    • D. 

      Usability testing

    • E. 

      Sales conversion rate

  • 5. 
    What is the most important Lean Startup philosophy?
    • A. 

      Low burn

    • B. 

      Speed of product releases

    • C. 

      Speed of learning

    • D. 

      Speed of pivots

    • E. 

      Making money early

  • 6. 
    Who are the best people to do Customer Development?
    • A. 

      Sales people, since they are most comfortable speaking with customers and usually "own" the relationship.

    • B. 

      Marketing people, since they are best at projecting the company's brand.

    • C. 

      Founders, since they hold the fundamental assumptions to be tested.

    • D. 

      Product Manager, since they know are experienced in speaking with customers about products.

    • E. 

      Customer Support, since they already talk to customers about their problems.

  • 7. 
      What are the Customer Development Market Types?
    • A. 

      Viral, Guerrilla, Direct, Social Media, E-mail

    • B. 

      Retail, Financial Services, Healthcare, Government, Manufacturing

    • C. 

      Blue Ocean, Disruptive, the Chasm, Tipping Point, Innovator

    • D. 

      New market, existing market, resegmented low cost, resegmented niche

    • E. 

      Total Available, Served Available, Served Obtainable

  • 8. 
    What are the first 3 business assumptions to test?
    • A. 

      Customer, Problem, Solution

    • B. 

      Total Available, Served Available, Served Obtainable market sizes

    • C. 

      You are free of Patent, Trademark, or Copyright infringement

    • D. 

      Source of funding, Founding team, and Board of Advisers

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