Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
By focusing solely on market research before product development
B
By conducting hypothesis-driven experiments to validate assumptions
C
By investing heavily in marketing before product testing
D
By creating a comprehensive business plan without testing ideas
Understanding the Answer
Let's break down why this is correct
Answer
The Lean Startup Methodology keeps a business idea viable by testing it quickly and cheaply with real customers, so you learn what works before spending too much money. First, you build a minimal product that shows the core value, then you ask customers for feedback and measure their reactions. If the data shows people want the product and are willing to pay, you iterate; if not, you pivot or stop. For example, a startup might create a simple landing page to gauge interest in a new app, and if visitors sign up, it builds the app further; if not, it changes the idea. This cycle of building, measuring, and learning reduces risk and ensures the idea meets real needs.
Detailed Explanation
The Lean Startup uses small, controlled tests to see if a product idea works with real users. Other options are incorrect because Thinking that a lot of market research alone guarantees success is a common mistake; Investing heavily in marketing before testing is a typical misconception.
Key Concepts
Lean Startup Methodology
Hypothesis Testing
Business Viability
Topic
Lean Startup Methodology
Difficulty
hard level question
Cognitive Level
understand
Practice Similar Questions
Test your understanding with related questions
1
Question 1Lean startup methodology is to early-stage business development as scientific method is to __________.
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2
Question 2How does the Lean Startup methodology primarily impact firm performance over time?
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3
Question 3A startup has implemented the lean startup methodology by continually testing their product ideas with potential customers before fully launching them. Which category does this approach belong to in terms of performance impact?
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4
Question 4The lean startup methodology focuses on __________ to test business ideas and achieve better performance outcomes.
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5
Question 5How does the Lean Startup Methodology ensure the viability of a business idea during early development?
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6
Question 6Lean startup methodology is to early-stage business development as scientific method is to __________.
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7
Question 7How does the Lean Startup methodology primarily impact firm performance over time?
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8
Question 8A startup has implemented the lean startup methodology by continually testing their product ideas with potential customers before fully launching them. Which category does this approach belong to in terms of performance impact?
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