1) It is critical to analyze existing competitive products in order to provide useful information when developing product or service specifications. a) Unique Selling Proposition b) Perform economic analysis c) Establish target specifications d) Analyze competitive products 2) There should be something in your product or service that will entice customers to return and purchase more. a) Innovation b) Finding Value c) Analyze competitive products d) Plan the remaining development project 3) This is the final stage of concept development; you can now create a detailed development plan with a list of activities. a) Plan the remaining development project b) Discover customers’ genuine reasons for buying the product. c) Refine product specifications d) Establish target specifications 4) is the addition of a new feature to your product or service. a) Perform economic analysis b) Unique Selling Proposition c) Innovation d) Use empathy 5) A competitive entrepreneur is always improving their products or services to provide satisfaction and, of course, customer retention. a) Analyze competitive products b) Finding Value c) Plan the remaining development project d) Discover customers’ genuine reasons for buying the product. 6) The input from the preceding activities is used to refine product or service specifications. a) Innovation b) Refine product specifications c) Discover customers’ genuine reasons for buying the product. d) Establish target specifications 7) You can now establish target specifications of the possible new product and/or services based on customer needs and reviews of competing products. a) Refine product specifications b) Establish target specifications c) Perform economic analysis d) Unique Selling Proposition 8) It is critical to always review and estimate the impact of labor of the product or services to be offered or provided in terms of development expenses, manufacturing costs, and selling price. a) Use empathy b) Analyze competitive products c) Perform economic analysis d) Finding Value 9) A consideration presented by a seller as the reason why one product or service a) Unique Selling Proposition b) Plan the remaining development project c) Innovation d) Discover customers’ genuine reasons for buying the product. 10) Always keep the needs of your target customers in mind and avoid falling in love with your own product or service. a) Refine product specifications b) Establish target specifications c) Unique Selling Proposition d) Use empathy

Drafting 10 Module 2: Product Development

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