Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Which of the following terms refers to the degree to which the innovation can be tried on a limited basis?

Accepted Answer

A)  compatibility 
B)  relative advantage 
C)  divisibility 
D)  communicability 
E)  complexity 
A)  compatibility 
B)  relative advantage 
C)  divisibility 
D)  communicability 
E)  complexity

Question 3

________ is a "hybrid" data collection technique that combines self-explicated importance ratings with pair-wise trade-off tasks.

Accepted Answer

A)  Sales wave analysis 
B)  Simulative data testing 
C)  Adaptive conjoint analysis 
D)  Business analysis 
E)  Exponential data collection 
A)  Sales wave analysis 
B)  Simulative data testing 
C)  Adaptive conjoint analysis 
D)  Business analysis 
E)  Exponential data collection

Question 4

The trade-off approach may be easier to use when there are/is ________.

Accepted Answer

A)  many variables 
B)  only a few alternatives 
C)  observers that are biased 
D)  possible offers that are limited 
E)  only one highly desirable solution 
A)  many variables 
B)  only a few alternatives 
C)  observers that are biased 
D)  possible offers that are limited 
E)  only one highly desirable solution

Question 5

What is the purpose of appointing an idea manager?

Accepted Answer

A company can motivate its emp

Question 6

Explain how stage-gate systems are used by companies to manage innovation and new product launches.

Accepted Answer

Many top companies use the stage-gate sy

Question 7

Compatibility refers to the degree to which the innovation matches the values and experiences of the individuals.

Accepted Answer

A) True 
 B)False

Question 8

Rapid prototyping refers to designing products on a computer and then producing rough models to show potential consumers for their reactions.

Accepted Answer

A) True 
 B)False

Question 9

Horon Furniture is a manufacturer of office furniture. The company is known for its innovative multi-purpose 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.

Accepted Answer

The company uses forced relati

Question 10

Identify the major reasons why new product failures occur.

Accepted Answer

The following are some of the possible r

Question 11

Identify the element in the DIG network that considers how a new product can fit into customers lives and how it can be distinguished from the competitors' products.

Accepted Answer

A)  business analysis 
B)  internal design analysis 
C)  strategic blueprint 
D)  demand landscape 
E)  opportunity space 
A)  business analysis 
B)  internal design analysis 
C)  strategic blueprint 
D)  demand landscape 
E)  opportunity space

Question 12

Electro Locomotors (EL), Inc. engages in the manufacture, distribution, and marketing of custom vehicles in Brazil. Bono, a hybrid car brand that the company produces, is a market leader in the hybrid vehicles segment. With the increased global focus on nature friendly vehicles and governmental subsidies for companies that manufacture hybrid vehicles, competition has increased for flex-fuel cars like Bono. The heads of the R&D team at EL is in a creative session to generate ideas for improvements to Bono. They consider each part of the car and discuss the possibilities of improvements in each of them. Identify the creativity technique used here.

Accepted Answer

A)  attribute listing 
B)  forced relationship analysis 
C)  morphological analysis 
D)  reverse assumption analysis 
E)  mind mapping 
A)  attribute listing 
B)  forced relationship analysis 
C)  morphological analysis 
D)  reverse assumption analysis 
E)  mind mapping

Question 13

With ________, respondents see different hypothetical offers formed by combining varying levels of the attributes, then rank the various offers.

Accepted Answer

A)  gap level analysis 
B)  conjoint analysis 
C)  perceptual mapping 
D)  concept testing 
E)  morphological analysis 
A)  gap level analysis 
B)  conjoint analysis 
C)  perceptual mapping 
D)  concept testing 
E)  morphological analysis

Question 14

Venture teams are cross-functional groups charged with developing a specific product or business.

Accepted Answer

A) True 
 B)False

Question 15

Universal Services, Inc. provides communication services to residential and business customers in rural and small urban communities primarily in northern England. The company offers services such as local and long distance voice, data, and Internet and broadband product offerings. The company, in an attempt to increase the attractiveness of its offerings, decides to provide special voice and data packages to its customers. The company designs eight different packs that offer varying voice and data benefits to customers. The company then asks a few of its customers to rank the packs in order to choose two best packs. Which of the following testing methods is being used in the above scenario?

Accepted Answer

A)  virtual reality testing 
B)  conjoint analysis 
C)  perceptual mapping 
D)  product fabrication 
E)  rapid prototyping 
A)  virtual reality testing 
B)  conjoint analysis 
C)  perceptual mapping 
D)  product fabrication 
E)  rapid prototyping

Question 16

Which of the following questions is answered during the business analysis of ideas?

Accepted Answer

A)  Will this product meet our profit goals? 
B)  Have we got a technically and commercially sound product? 
C)  Can we find a cost-effective, affordable marketing strategy? 
D)  Can this product meet sales expectations? 
E)  Can we find a good concept consumers say they would try? 
A)  Will this product meet our profit goals? 
B)  Have we got a technically and commercially sound product? 
C)  Can we find a cost-effective, affordable marketing strategy? 
D)  Can this product meet sales expectations? 
E)  Can we find a good concept consumers say they would try?

Question 17

People who are technology enthusiasts, venturesome, and who enjoy tinkering with new products and mastering their intricacies are called ________.

Accepted Answer

A)  innovators 
B)  early adopters 
C)  early majority 
D)  investigators 
E)  experimenters 
A)  innovators 
B)  early adopters 
C)  early majority 
D)  investigators 
E)  experimenters

Question 18

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)________.

Accepted Answer

A)  virtual team 
B)  venture team 
C)  fundamental team 
D)  elemental team 
E)  transitory team 
A)  virtual team 
B)  venture team 
C)  fundamental team 
D)  elemental team 
E)  transitory team

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Sales-wave research can be implemented quickly and carried out without final packaging and advertising.

Accepted Answer

A) True 
 B)False

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

Which of the following terms refers to the degree to which the innovation can be tried on a limited basis?

________ is a "hybrid" data collection technique that combines self-explicated importance ratings with pair-wise trade-off tasks.

The trade-off approach may be easier to use when there are/is ________.

What is the purpose of appointing an idea manager?

Explain how stage-gate systems are used by companies to manage innovation and new product launches.

Compatibility refers to the degree to which the innovation matches the values and experiences of the individuals.

Rapid prototyping refers to designing products on a computer and then producing rough models to show potential consumers for their reactions.

Identify the major reasons why new product failures occur.

Identify the element in the DIG network that considers how a new product can fit into customers lives and how it can be distinguished from the competitors' products.

With ________, respondents see different hypothetical offers formed by combining varying levels of the attributes, then rank the various offers.

Venture teams are cross-functional groups charged with developing a specific product or business.

Which of the following questions is answered during the business analysis of ideas?

People who are technology enthusiasts, venturesome, and who enjoy tinkering with new products and mastering their intricacies are called ________.

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

Sales-wave research can be implemented quickly and carried out without final packaging and advertising.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Tapping into Global Markets

Managing a Holistic Marketing Organization for the Long Run

Filters

Exam 20: Introducing New Market Offerings

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

Which of the following terms refers to the degree to which the innovation can be tried on a limited basis?

________ is a "hybrid" data collection technique that combines self-explicated importance ratings with pair-wise trade-off tasks.

The trade-off approach may be easier to use when there are/is ________.

What is the purpose of appointing an idea manager?

Explain how stage-gate systems are used by companies to manage innovation and new product launches.

Compatibility refers to the degree to which the innovation matches the values and experiences of the individuals.

Rapid prototyping refers to designing products on a computer and then producing rough models to show potential consumers for their reactions.

Identify the major reasons why new product failures occur.

Identify the element in the DIG network that considers how a new product can fit into customers lives and how it can be distinguished from the competitors' products.

With ________, respondents see different hypothetical offers formed by combining varying levels of the attributes, then rank the various offers.

Venture teams are cross-functional groups charged with developing a specific product or business.

Which of the following questions is answered during the business analysis of ideas?

People who are technology enthusiasts, venturesome, and who enjoy tinkering with new products and mastering their intricacies are called ________.

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

Sales-wave research can be implemented quickly and carried out without final packaging and advertising.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Tapping into Global Markets

Managing a Holistic Marketing Organization for the Long Run

Filters