Quiz Product

Topics: Innovation, New product development, Creativity Pages: 5 (1447 words) Published: October 27, 2014
Quiz Product
Chapter 1
• According to the well-known business writer, Gary Hamel, which of the following is the most important business issue of our time?
Creation of radical innovation
• _____ refer to rules of thumb that firms have found work for them. Heuristics
• A product described as a "new product" in terms of design or production rather than marketing, falls under which of the following categories?
Cost reductions
• With reference to new product categories, _____ are also known as flanker brands. line extensions
• These products are inventions that create a whole new market; examples include Polaroid camera and the Sony Walkman. Identify the new product category in discussion.
New-to-the-world products
• _____ are the least common form of new products.
Repositioned products
• Which of the following is the most important factor contributing to the success of a new market offering? A unique, superior product
• Which of the following roles is most likely to be performed by a marketing researcher in a new product development team?
Functional representative
• These individuals are responsible for helping project managers develop and use good new product processes. Identify the individuals in discussion.
Process managers
• In the evaluation tasks that occur after every phase in the new product process, if a new product team makes a full "Go" decision, but fails to commit any resources to the project, it is known as a(n) _____ problem. hollow-gate

Chapter 2
• The new products process ends when the:
product is successful.
• This phase of the basic new products process is associated with selecting a high potential opportunity and beginning customer involvement.
Concept generation
• _____ is the first phase of the new products process.
Opportunity identification and selection

• In which phase of the new products process is the first formal type of evaluation done and financial criteria considered?
Concept/project evaluation
• The _____ is generated during the concept/project evaluation phase of the new product process and it involves preparing a statement of the benefits the new product is to yield. product protocol
• Launching a product is also known as:
• Which of the following is typically generated during the development phase of the new products process? Process concept
• For a(n) _____ concept, both market value and clarity are the lowest. opportunity
• A tentative physical product or system procedure, including features and benefits, is known as a _____ concept. prototype
• Services and goods are often arrayed on a scale which ranges from pure service to pure good. Where does an automobile stand on this scale?
Primarily a good and partly service
Chapter 3
• The new product development team/group:
operates as a company within a company.
• An aircraft manufacturing firm manufactures various types of aircrafts from the same design but with many shared components. This is an example of a firm using a:
product platform.
• _____ platforms can be strategically important. They are based upon billion-dollar assets so many of these platforms are personally driven by CEOs.
• Many futurists advocate studying the emerging trends in society and deriving product opportunities from them. A team of experts from the consulting firm Social Technologies identified six important and provocative modern trends. One of these trends is 'In search of enoughness.' This trend refers to which of the following observations? Consumers are increasingly adopting simpler lifestyles marked by fewer material possessions and an increasing concern about quality of life.

• Which of the following is most likely to be used by a product innovation charter as an input? Corporate mission
• This is a document prepared by senior management designed to provide guidance to the business units on the role of innovation.
Product Innovation Charter
• Any "rules of the road" requirements imposed by...
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