Question 1

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

Accepted Answer

A) attribute listing 
B) reverse assumption analysis 
C) mind mapping 
D) lateral marketing 
E) morphological analysis

Question 2

Intercom,Inc.together with its subsidiaries,primarily engages in the generation,transmission,and distribution of electric power.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

Question 3

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 ________.

Accepted Answer

A) attribute listing 
B) mind mapping 
C) morphological analysis 
D) lateral analysis 
E) reverse analysis

Question 4

Brown & Smith,Inc.engages in the design,development,making,and retail of designer jewelry.Before approving a new design of jewelry the company draws it on a computer and then produces models to show potential consumers for their reactions.This allows the company to analyze the possible customer reaction.Identify the concept testing method used here.

Accepted Answer

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

Question 5

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

Question 6

A group of young students run an Internet center.In an attempt to increase their profitability they start a cafe alongside the existing business.Explain the type of marketing used here.

Accepted Answer

The answer of A group of young students run an...

Question 7

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

Accepted Answer

A) Most new products do not use technology. 
B) Most new products are not backed by a marketable idea. 
C) New products do not get adequate management support. 
D) Social and governmental constraints lead to this failure. 
E) Rivals quickly copy products that are successful.

Question 8

What is the significance of performing business analysis?

Accepted Answer

The answer of What is the significance of performing business...

Question 9

Morboro Energy,Inc.is a large chain of fuel stations.The company decided to expand its business by incorporating restaurants and automobile service stations as a part of its fuel outlets.This is an example of ________.

Accepted Answer

A) lateral marketing 
B) brand extension 
C) market development 
D) internal marketing 
E) brand personification

Question 10

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

Question 11

Pager,a simple personal device for short messages,became famous in the 1990s.Troveron Communications launched a pager in the early twenty-first century.Due to the introduction of mobile phones and text messaging,the pager industry was on a decline.The company's innovations were not well received by the market and the product became a failure.Which of the following is the most likely reason for the product's failure in this case?

Accepted Answer

A) poor launch timing of the product 
B) a small and fragmented target market 
C) high cost of development 
D) social and economic constraints 
E) hasty product development

Question 12

Skunkworks are formal workplaces where intrapreneurial teams attempt to develop new products.

Accepted Answer

A) True 
 B)False

Question 13

A spiral development process recognizes the value of returning to an earlier stage to make improvements before moving forward.

Accepted Answer

A) True 
 B)False

Question 14

A group of college graduates decide to start a business.Though they are knowledgeable in various business domains,they are unable to arrive at a valuable business idea.They decide to search for ideas in a structured manner.They meet together and start discussing everyone's ideas.Each idea is recorded and then the thoughts that come up in relation to the ideas are written down and discussed.This process helps them to finalize a business plan.What technique is used here?

Accepted Answer

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

Question 15

Employees can be a source of ideas for improving production,products,and services.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

Consumer preferences for alternative product concepts can be measured through ________,a method for deriving the utility values that consumers attach to varying levels of a product's attributes.

Accepted Answer

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

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

In a ____________,the project leader,working with a cross-functional team,must bring a set of known deliverables to each gate before the project can pass to the next stage.

Accepted Answer

A) reverse assumption analysis technique 
B) skunkworks system 
C) stage-gate system 
D) spiral development process 
E) new-product department technique

Question 20

Concept testing means validating the product concept by discussing within the design group.

Accepted Answer

A) True 
 B)False

Exam 21: Introducing New Market Offerings

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

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 ________.

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

A group of young students run an Internet center.In an attempt to increase their profitability they start a cafe alongside the existing business.Explain the type of marketing used here.

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

What is the significance of performing business analysis?

Morboro Energy,Inc.is a large chain of fuel stations.The company decided to expand its business by incorporating restaurants and automobile service stations as a part of its fuel outlets.This is an example of ________.

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

Skunkworks are formal workplaces where intrapreneurial teams attempt to develop new products.

A spiral development process recognizes the value of returning to an earlier stage to make improvements before moving forward.

Employees can be a source of ideas for improving production,products,and services.

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

Consumer preferences for alternative product concepts can be measured through ________,a method for deriving the utility values that consumers attach to varying levels of a product's attributes.

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

In a ____________,the project leader,working with a cross-functional team,must bring a set of known deliverables to each gate before the project can pass to the next stage.

Concept testing means validating the product concept by discussing within the design group.