ENT_L3

Question 1

Which two reasons top the list of startup failure causes and what are their percentages?

Answer 1

• No Market Need — 42%
• Ran Out of Cash — 29%

Question 2

What key insight did the CB Insights analysis of 101 venture post‑mortems reveal about failure reasons?

Answer 2

• Failure is rarely due to one cause
• Reasons are diverse

Question 3

Information‑driven vs Insight‑driven solutions: what’s the main difference?

Answer 3

• Information‑driven: matches obvious supply & demand
• Insight‑driven: uncovers hidden motivations & creates tailored services (e.g., screening students, low‑cost refitting)

Question 4

When crafting an insight, what are you looking for?

Answer 4

• A core, revelatory learning from research, not yet a solution

Question 5

Primary function of market research & user prototyping in venture creation?

Answer 5

De‑risking commitment by validating feasibility, desirability & viability

Question 6

Market research generates two broad categories of data. What are they?

Answer 6

• Customer/User data (headache problems, expectations, TAM)
• Value potential data (value delivered, willingness to pay, costs, acquisition & channel metrics)

Question 7

Segmentation central question

Answer 7

“Who are my users or customers?”

Question 8

Positioning central question

Answer 8

“Why will someone in the target market buy my product instead of the competition’s?”

Question 9

What does JBTD‑analysis seek to understand?

Answer 9

• The tasks, problems or needs a customer is trying to get done

Question 10

Name the four types of jobs recognised in JBTD.

Answer 10

• Functional jobs
• Emotional – Personal jobs
• Emotional – Social jobs

Question 11

Milkshake case study: what job did morning commuters hire a milkshake for?

Answer 11

• To stave off hunger during a boring drive while pressed for time

Question 12

Why did improving flavour & price after demographic segmentation fail to increase milkshake sales?

Answer 12

• Because changes ignored the job‑to‑be‑done insight driving purchase context

Question 13

Purpose of creating personas

Answer 13

• To bring the target market to life, making user needs tangible for design

Question 14

Traditional Market Research is best for…

Answer 14

• Identifying large‑scale aggregate information
• Estimating segment sizes
• Gathering pricing & willingness‑to‑pay data

Question 15

Compare three market approaches: Traditional, Design Thinking, Lean Experiments.

Answer 15

• Traditional: high‑level planning & market sizing
• Design Thinking: micro‑level qualitative insights & usability
• Lean Experiments: verify behavioural assumptions & key economics

Question 16

Give three forms of Traditional Market Research.

Answer 16

• Market reports
• Interviews with industry insiders
• General internet search (competitors, trends)

Question 17

Low‑commitment exploration methods

Answer 17

• User surveys
• User interviews
• Prototype‑based research (landing pages, fake articles)

Question 18

What are the four quadrants of the assumption matrix?

Answer 18

• Critical & certain
• Critical & not‑certain
• Not‑critical & certain
• Not‑critical & not‑certain

Question 19

List benefits of prototyping.

Answer 19

• Evidence‑based development
• Spot problems early
• Move quicker, spend less
• De‑risk investment and boost learning

Question 20

What three elements should a storyboard capture?

Answer 20

• User (character)
• Plot (scenario & timing)
• Context (environment, look & feel)