Exam 15: Introducing New Market Offerings

The job of translating target customer requirements into a working prototype is helped by a set of methods referred to as ________.

Which of the following methodologies takes the list of desired customer attributes (CAs) generated by market research and turns them into a list of engineering attributes (EAs) that engineers can use?

Intercom Inc., together with its subsidiaries, primarily engages in the generation, transmission, and distribution of electric power in the United States. The company observes that its growth has stagnated over a period of two years. In an attempt to promote growth, it considers adding new features to the existing products and introducing a few new products. The company forms a committee consisting of three top executives, one of the production mangers, a few operational managers, and a representative of the HR department to generate ideas. This team is called a(n) ________ team.

I-ball, a cell phone manufacturer introduces a cell phone targeted at customers ages 70 and above. It has features such as loud volume, large keys, and so forth. How do you classify this product innovation? What could be a possible disadvantage of this product?

Most established companies focus on incremental innovation rather than radical innovation.

During which of the following stages in new product development decision making do managers analyze if they can find a good thought consumers say they would try?

Armordo is a famous vacuum cleaner brand in Africa. Clara has heard of Armordo and she knows that the product is a success. She has started considering whether or not to buy the vacuum cleaner. What stage of the consumer-adoption process is Clara in?

A(n) ________ is any good, service, or idea that is perceived as new, no matter how long its history.

Horon Furniture is a manufacturer of office furniture. The company is known for its innovative multipurpose furniture. When designing a new product, the designers list several ideas and consider each in relationship to others. For example, the company considers various options such as an office table, foldable chairs, and filing cabinet, etc. Finally, the company may come up with a foldable office table with chairs attached and with a filing cabinet. Describe the creativity technique used at Horon Furniture.

A ________ divides the innovation process into stages with a checkpoint at the end of each stage.

GameTech International Inc. engages in the design, development, and marketing of interactive electronic bingo systems primarily in the United States. The company has plans to enter developing markets such as Brazil and India. TechToys, GameTech's major competitor has already started operations in India. GameTech decides to delay its entry to India and to closely observe TechToys' operations in India. What is the possible rationale behind this delaying decision?

A team formed at Intercom Inc. to generate ideas for new products conducts frequent meetings and engages in activities such as mind mapping and brainstorming. Most of the meetings are conducted at informal locations away from office. These workplaces are called ________.

During ________ testing, the company's technical people observe how customers use the product, a practice that often exposes unanticipated problems of safety and servicing and alerts the company to customer training and servicing requirements.

Survival-age distribution refers to the number of customers that the product has in year one, two, three, and so on.

Mobile phone company HCF delayed the introduction of a new cell phone model with innovative features so that the launch could coincide with that of its competitor, LCM, which was introducing a phone with similar features. What kind of entry did HCF use? How can this benefit the company?

Companies such as Edison Nation and the Big Idea Group have sprung up to tap into ________ possibilities, often combining its own design, branding, engineering, and sales teams with online participants, forming a community for devising new products.

It has been observed that most new products have shorter product life cycles. What is the reason for this?

________ are informal workplaces, sometimes garages, where intrapreneurial teams attempt to develop new products.

Surgeons and ER nurses would be considered ________ for surgical equipment.

Almost all companies use the conventional percentage-of-sales figure while budgeting for new product development.