Exam 15: Introducing New Market Offerings

What is crowdsourcing?

In response to a short-term oversupply of wine in the marketplace, the makers of Kendall-Jackson developed two new brands by using rapid prototyping - designing products on a computer and producing rough models to show potential consumers for their reactions - to quickly bring its ideas to life.

Tosho Electronics, a leading Japanese, electronic manufacturer believes shorter product life cycles of new products reduce the scope for R&D and innovation. Offer a possible reason for shorter life cycles.

Which of the following is most closely related with the organic growth of an organization?

Jason is a technology enthusiast who is happy to conduct alpha and beta testing and report on early weaknesses of consumer electronics products. He is most likely to fall in the ________ adopter category.

Which of the following is the mental step in the consumer-adoption process where the customer starts considering whether to try an innovation?

A business analysis is typically performed after management has developed the product concept and marketing strategy.

A business analysis is performed mainly to identify if a company has got a technically and commercially sound product.

Modular function deployment methodology takes the list of desired customer attributes generated by market research and turns them into a list of engineering attributes that engineers can use.

Five characteristics influence the rate of adoption of an innovation. One of these is ________.

Companies that fail to develop new products leave their existing offerings vulnerable to increased domestic and foreign competition.

The stage in the new product process that occurs first and has a pass ratio of 1:4 is the ________ stage.

Caribou Coffee Company Inc. operates coffeehouses primarily in the United States. The company wants to launch a new brand of specialty coffee and it has created a few hypothetical combinations. The company wants to select two of the combinations after obtaining a ranking by customers based on their preference. What concept testing method is suited here?

________ works by listing all the normal assumptions about an entity and then turning them around.

In an attempt to improve the product, a company that manufactures screwdrivers discusses the modification of each attribute, such as replacing the wooden handle with plastic, providing torque power, adding different screw heads, and so on. This creativity technique is called ________.

Dragalong income refers to additional income whereas cannibalized income refers to reduced income.

The ________ technique used for stimulating creativity identifies a problem and then considers the dimension, the medium, and the power source.

Customers of a proposed truck may want a certain acceleration rate, which is a desired customer attribute. Engineers can turn this into the required horsepower and other engineering attributes through a process known as alpha testing.

________ means inviting the Internet community to help create content or software, often with prize money or a moment of glory involved.

For a frequently purchased new product, the seller estimates repeat sales as well as first-time sales. A high rate of repeat purchasing means customers ________.