Midterm Exam

Question 1

As a ______, I want to ______ so that _______.

Answer 1

User, Action, Benefit

Question 2

Key Terms in Agile Development

Answer 2

Epic, User Story, Task

Question 3

A large gpa; that contains multiple user stories

Answer 3

Epic

Question 4

A single feature within an epic

Answer 4

User Story

Question 5

A small piece of wor needed to complete a user story

Answer 5

Task

Question 6

Types of acceptance criteria

Answer 6

• Functional Acceptance Criteria
• Non - Functional Acceptance Criteria
• Business Rule Criteria
• User Experience (UX) Criteria

Question 7

MoSCoW Method stands for?

Answer 7

M - Must Have (Essential)
S - Should Have (Important but not critical)
C - Could Have (Nice to have, but not necessary)
W - Won’t Have (Not a priority for now)

Question 8

Kano Model

Answer 8

Basic Needs ( Must Haves)
Performance Needs (More is Better)
Delighters (Exciters)
Indifferent Features
Reverse Features

Question 9

A low-cost usable version of a product idea.

Answer 9

MVP

Question 10

A/An _______ is extremely simple, quick to build,
and validates the product hypothesis.

Answer 10

MVP

Question 11

High Fidelity MVP

Answer 11

• Test your value proposition
• Acquire early users to determine product demand
• Create marketing strategies for growth

Question 12

Low Fidelity MVP

Answer 12

• Provide data about how valuable the product is for customers
• Discover the most effective solution based on an
  understanding of customers’ needs
• Determine if the problem is worth solving

Question 13

LOFI MVP Samples:

Answer 13

• Landing pages
• Explainer/Demo Videos
• Crowndfunding Campaigns

Question 14

HIFI MVP Samples

Answer 14

• Concierge MVP
• Wizard of OZ
• Piecemeal MVP

Question 15

You can use it to collect data and build an audience of potential users. With a
landing page, share the proposed value of the product you plan to release

Answer 15

Landing Pages

Question 16

Explainer videos as an MVP involve showing and telling your audience what
your product can do using engaging visuals with a straightforward
explanation.

Answer 16

Explainer/Demo Videos

Question 17

This type of MVP is very effective because it validates your idea and helps you
raise capital to build your final product.

Answer 17

Crowdfunding Campaigns

Question 18

This is a manually-offered service to a small group of test users to get closerange feedback and use that to refine the product and identify areas for
automation.

Answer 18

Concierge MVP

Question 19

This product appears to be fully functional but has certain parts that are
manual. .

Answer 19

Wizard of OZ

Question 20

Rather than developing your product from scratch, a piecemeal MVP
leverages existing services such as chat, email marketing, or cloud storage
tools to create a unified usable product

Answer 20

Piecemeal MVP

Question 21

• A systematic approach to understanding target
  customers.
• Helps validate problem-solution fit before developing a
  product.
• Ensures that entrepreneurs are solving problems that
  truly exist and are worth addressing.
• Consists of four phases: Identify, Hypothesize, Test, and
  Learn.

Answer 21

Customer Discovery

Question 22

A _________________ explains how a
company creates, delivers, and
captures value.

Answer 22

business model

Question 23

It describes how a business
operates, generates revenue, and
sustains itself

Answer 23

Business Model

Question 24

Why business models matter

Answer 24

• Defines how the company earns revenue.
• Helps in customer segmentation and targeting.
• Provides a structured way to scale the
  business.
• Enables differentiation from competitors.
• Essential for investors and funding decisions.

Question 25

Common Business Models in Technopreneurship

Answer 25

- Product– Based Business Model - Service– Based Business Model - Subscription Business Model - Marketplace Business Model - Freemium Business Model - Advertising Business Model - Licensing & Franchise Business Model - Revenue Business Model

Question 26

What it is: Sells physical or digital products for a one-time or recurring fee

Answer 26

Product-based Business model

Question 27

What it is: Offers expertise or professional services.

Answer 27

Service-based Business Model

Question 28

What it is: Customers pay a recurring fee for ongoing access to a product or service

Answer 28

Subscription Business Model

Question 29

What it is: Connects buyers and sellers, earning revenue through commissions.

Answer 29

Marketplace Business Model

Question 30

What it is: Offers a free basic version with optional premium upgrades.

Answer 30

Freemium Business Model

Question 31

What it is: Provides free content/services while generating revenue from advertisers

Answer 31

Advertising Business Model

Question 32

* Licensing: Selling the rights to use technology, patents, or brand names. * Franchising: Allowing others to open branded businesses for a fee

Answer 32

Licensing & Franchise Business Model

Question 33

What it is: A mix of multiple business models to maximize revenue.

Answer 33

Hybrid Business Model

Question 34

THE BUSINESS MODEL SELECTION PROCESS:

Answer 34

1. Understand the Market & Customer Needs 2. Analyze Competitors 3. Evaluate Revenue Streams 4. Test & Validate 5. Adjust & Scale

Question 35

BMC - ___________ _______ _________

Answer 35

Business Model Canvass

Question 36

COMPONENTS OF A BUSINESS MODEL CANVASS:

Answer 36

1. Key Partners 2. Key Activities 3. Value Proposition 4. Customer Segments 5. Customer Relationships 6. Channels 7. Key Resources 8. Cost Structure 9. Revenue Streams

Question 37

COMPONENTS OF A LEAN CANVASS

Answer 37

1. Problem 2. Customer Segments 3. Unique Value Proposition 4. Solution 5. Channels 6. Revenue Streams 7. Cost Structure 8. Key Metrics 9. Unfair Advantage

Question 38

Refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce

Answer 38

Intellectual Property

Question 39

An Act Prescribing the Intellectual Property Code and Establishing the Intellectual Property Office, Providing for Its Powers and Functions, annd for Other Purposes

Answer 39

Republic Act 8293

Question 40

Why is IP important for Technopreneurs?

Answer 40

- Protects Ideas - Enhances value - Revenue Generation - Market Differentiation

Question 41

Types of Intellectual Property

Answer 41

- Copyright - Trademark, Trade Name, Service Marks - Industrial Design & Geographic Indication - Patents and Utility Models - Trade Secrets

Question 42

Protects new inventions and technological solutions. * Example: Patent for a new software algorithm or hardware device.

Answer 42

Patents

Question 43

Protects brand names, logos, and slogans. * Example: The logo for your tech startup.

Answer 43

Trademarks

Question 44

Protects original works like software code, user manuals, andotherwritten works. * Example: The source code of your app or software

Answer 44

Copyrights

Question 45

Protects business practices, formulas, and processes thatarenotknown to the public. * Example: The proprietary algorithm that powers your tech product.

Answer 45

Trade Secrets

Question 46

Any technical solution of a problem in any field of human activity is new, involves an inventive step and is industrially applicable sahll be patentable. It may be, or may relate to, a product, or process, or an improvement of any of the foregoing

Answer 46

just remember

Question 47

Role of IP in Funding & Investment

Answer 47

Investor Confidence, Valuation, Exit Strategies

Question 48

Investors are more likely to back startups with strong IP portfolios, as it reduces risk.

Answer 48

Investor Confidence

Question 49

A strong IP portfolio increases a company's market value

Answer 49

Valuation

Question 50

IP assets can be sold or licensed in the event of acquisition or merger

Answer 50

Exit Strategies