Exam 10: Innovative Strategies That Change the Nature of Competition

Peach Corp. continues to refine its chocolate products even as they look for innovative ways to reach customers through marketing and new distribution channels. In this case, the organization is in the ___________ stage of the product life cycle.

Pearl Corp., a manufacturer of dental equipment, creates a new instrument. With the experience it has in creating small equipment required for dental surgeries, it customizes the new tool to be more accurate and effective. It also comes with an improvised handle. Which of the following innovations has Pearl adopted in this scenario?

Define two general categories of innovations.

Which of the following statements is a characteristic of a disruptive innovation?

Identify a true statement about the innovative strategy of disintermediation.

Which of the following statements best describes the introduction stage of a product's life cycle?

___________ refers to Professor Rich's argument that competitive intensity has increased, and that periods of competitive advantage have decreased.

Copper Inc., an existing clothing outlet, decides to shift from direct to online retailing. It offers the same products at a reduced price as it does not have to incur the costs to manage a store. In this case, which of the following patterns of innovative strategies has Copper adopted?

Explain mass customization with an example.

Which of the following is true of the introduction stage of the product life cycle?

Which of the following statements best describes third-party pay strategy?

The Table Mat, an online review site, provides information about restaurants, the products they offer, details on home delivery, take away, and so on. Restaurants are charged by The Table Mat for advertising to millions of product users. Which of the following is being exemplified in this case?

Nathan, a designer at Zeal Inc., comes up with a new idea. While Nathan considers turning it into a piece of art, Ricky, his colleague, suggests converting the idea into a product that generates revenue. Ricky's suggestion to convert the idea into a revenue-generating product refers to a(n)___________.

Paws Corp., a manufacturer of pet products, tries to get a few customers to try out their products. The primary goal of the organization is to get some reference customers that will seed future growth to increase market acceptance. In this case, the organization is in the ___________ stage of the product life cycle.

The cross-sell strategy involves offering a ___________.

Which of the following statements is true of an incremental innovation?

Creating new demand in an uncontested market space is called the ___.

Explain the four stages of the product life cycle.

Which of the following statements is true of mass customization?

An automobile manufacturer creates high-performance products, which are new in the market. Since the product offers features that are unique, customers were willing to pay a high price for the product. However, after a couple of months, other brands offered the same features at a lower price, which made the innovators reduce the price as well. Which of the following innovations is being exemplified in this scenario?