Idea Development (Junior Cert Business Studies): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
How many steps are in the product/service development process?
How many steps are in the product/service development process?
Seven steps
Which is NOT listed as a source of ideas for new products?
Which is NOT listed as a source of ideas for new products?
Government regulations
What is the process called when businesses select the most promising idea?
What is the process called when businesses select the most promising idea?
Idea screening
What does USP stand for?
What does USP stand for?
Unique Selling Point
Without a clear USP, what risk do products face?
Without a clear USP, what risk do products face?
Competing solely on price
What does a feasibility study test?
What does a feasibility study test?
If it can be produced profitably
What is the break-even point?
What is the break-even point?
Units sold to cover all costs
What is a prototype?
What is a prototype?
A test model
What benefit does making a prototype provide?
What benefit does making a prototype provide?
Identifies production problems
Which is a form test marketing can take?
Which is a form test marketing can take?
Focus groups
What does launching a product involve?
What does launching a product involve?
Advertising & promotional activities
Which is a key consideration throughout product development?
Which is a key consideration throughout product development?
Financial viability