Question 1

The traditional method of market testing helps eliminate the risk present in simulated tests of competitor exposure.

Accepted Answer

A) True 
 B)False  False

Question 2

New products that provide improved performance or greater perceived value (or lower cost) are called _____ innovations.

Accepted Answer

A)  transformational 
B)  substantial 
C)  nondescript 
D) incremental 
A)  transformational 
B)  substantial 
C)  nondescript 
D) incremental D

Question 3

What is proactive cannibalization and what is the strategic logic of this concept?

Accepted Answer

Proactive cannibalization consists of the pursuit of a deliberate,ongoing strategy of developing and introducing new products that attract the buyers of a company's existing products.The strategic logic of this concept is offering buyers a better solution to a need currently being satisfied.Executive resistance to cannibalization is driven by the belief that it is unproductive for a company to compete with its own products and services.Nonetheless,the reality is that changes in market requirements and customer value opportunities will result in competitor threats for existing products and technologies.

Question 4

Conformity between consumer value expectations and product use experience indicates greater new-product opportunities.

Accepted Answer

A) True 
 B)False

Question 5

Customer _____ indicates how well the product use experience compares to the value expected by the buyer.

Accepted Answer

A)  value 
B)  satisfaction 
C)  need 
D)  segmentation 
A)  value 
B)  satisfaction 
C)  need 
D)  segmentation

Question 6

The _____ is a form of innovation through collaborative relationships which operates like a private club with participants jointly selecting problems,deciding how to work on them,and choosing solutions.

Accepted Answer

A)  elite circle 
B)  innovation mall 
C)  innovation community 
D)  consortium 
A)  elite circle 
B)  innovation mall 
C)  innovation community 
D)  consortium

Question 7

Which of the following describes the process for platform products?

Accepted Answer

A)  Characteristics of the product are highly constrained by the production process. 
B)  New products are slight variations of existing configurations. 
C)  System must be decomposed into several subsystems and many components. 
D)  The team assumes that the new product will be built around an established technological subsystem. 
A)  Characteristics of the product are highly constrained by the production process. 
B)  New products are slight variations of existing configurations. 
C)  System must be decomposed into several subsystems and many components. 
D)  The team assumes that the new product will be built around an established technological subsystem.

Question 8

How can innovations be classified? What are the different types of innovations?

Accepted Answer

Innovations can be classified according

Question 9

Which of the following marketing tests is conducted in an actual market environment?

Accepted Answer

A)  Regression tests 
B)  Simulated tests 
C)  Traditional tests 
D)  Web-enabled tests 
A)  Regression tests 
B)  Simulated tests 
C)  Traditional tests 
D)  Web-enabled tests

Question 10

Product _____ refers to when a new product attracts sales from an existing product.

Accepted Answer

A)  cannibalization 
B)  knockdown 
C)  scaffolding 
D)  benchmarking 
A)  cannibalization 
B)  knockdown 
C)  scaffolding 
D)  benchmarking

Question 11

Describe the various forms of innovation through collaborations?

Accepted Answer

As companies increasingly collaborate wi

Question 12

The company's _____ spells out management's choice of the company's most promising opportunities for new products.

Accepted Answer

A)  mission statement 
B)  vision consortium 
C)  innovation strategy 
D)  articles of incorporation 
A)  mission statement 
B)  vision consortium 
C)  innovation strategy 
D)  articles of incorporation

Question 13

_____ innovation occurs when products are radically new and the values created are substantial.

Accepted Answer

A)  Substantial 
B)  Transformational 
C)  Incremental 
D)  Nondescript 
A)  Substantial 
B)  Transformational 
C)  Incremental 
D)  Nondescript

Question 14

Analyzing customer value expectations to finding new-product opportunities are very useful in evaluating potential transformational innovations.

Accepted Answer

A) True 
 B)False

Question 15

A product prototype is the first completed model of the product that is ready for commercial production and marketing.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is a description of the Generic (market-pull) products process type?

Accepted Answer

A)  The team begins with a market opportunity and selects appropriate technologies to meet customer needs. 
B)  The team begins with a new technology, and then finds an appropriate market. 
C)  The team assumes that the new product will be built around an established technological subsystem. 
D)  Characteristics of the product are highly constrained by the production process. 
A)  The team begins with a market opportunity and selects appropriate technologies to meet customer needs. 
B)  The team begins with a new technology, and then finds an appropriate market. 
C)  The team assumes that the new product will be built around an established technological subsystem. 
D)  Characteristics of the product are highly constrained by the production process.

Question 17

Explain the importance of concept evaluation in new-product planning.

Accepted Answer

Extensive research on companies' new-pro

Question 18

When products become commodities,profit margins increase and differentiated advantages are easily achieved.

Accepted Answer

A) True 
 B)False

Question 19

The _____ is a form of innovation through collaborative relationship in which a company chooses participants,defines the problem,and chooses the solution.

Accepted Answer

A)  elite circle 
B)  innovation mall 
C)  innovation community 
D)  consortium 
A)  elite circle 
B)  innovation mall 
C)  innovation community 
D)  consortium

Question 20

The elite circle is a form of innovation through collaborative relationship in which a company chooses participants,defines the problem,and chooses the solution.

Accepted Answer

A) True 
 B)False

The traditional method of market testing helps eliminate the risk present in simulated tests of competitor exposure.

New products that provide improved performance or greater perceived value (or lower cost) are called _____ innovations.

What is proactive cannibalization and what is the strategic logic of this concept?

Conformity between consumer value expectations and product use experience indicates greater new-product opportunities.

Customer _____ indicates how well the product use experience compares to the value expected by the buyer.

The _____ is a form of innovation through collaborative relationships which operates like a private club with participants jointly selecting problems,deciding how to work on them,and choosing solutions.

Which of the following describes the process for platform products?

How can innovations be classified? What are the different types of innovations?

Which of the following marketing tests is conducted in an actual market environment?

Product _____ refers to when a new product attracts sales from an existing product.

Describe the various forms of innovation through collaborations?

The company's _____ spells out management's choice of the company's most promising opportunities for new products.

_____ innovation occurs when products are radically new and the values created are substantial.

Analyzing customer value expectations to finding new-product opportunities are very useful in evaluating potential transformational innovations.

A product prototype is the first completed model of the product that is ready for commercial production and marketing.

Which of the following is a description of the Generic (market-pull) products process type?

Explain the importance of concept evaluation in new-product planning.

When products become commodities,profit margins increase and differentiated advantages are easily achieved.

The _____ is a form of innovation through collaborative relationship in which a company chooses participants,defines the problem,and chooses the solution.

The elite circle is a form of innovation through collaborative relationship in which a company chooses participants,defines the problem,and chooses the solution.

New Challenges for Market Driven Strategy

Markets and Competitive Space

Strategic Market Segmentation

Strategic Customer Management: Systems, ethics, and Social Responsibility

Capabilities for Learning About Customers and Markets

Market Targeting and Strategic Positioning

Strategic Relationships

Strategic Brand Management

Value Chain Strategy

Pricing Strategy

Promotion, advertising, and Sales Promotion Strategies

Sales, digital, and Direct Marketing Strategies

Designing Market-Driven Organizations

Strategic Marketing Implementation and Control

Filters

Exam 8: Innovation and New Product Strategy

The traditional method of market testing helps eliminate the risk present in simulated tests of competitor exposure.

New products that provide improved performance or greater perceived value (or lower cost) are called _____ innovations.

What is proactive cannibalization and what is the strategic logic of this concept?

Conformity between consumer value expectations and product use experience indicates greater new-product opportunities.

Customer _____ indicates how well the product use experience compares to the value expected by the buyer.

The _____ is a form of innovation through collaborative relationships which operates like a private club with participants jointly selecting problems,deciding how to work on them,and choosing solutions.

Which of the following describes the process for platform products?

How can innovations be classified? What are the different types of innovations?

Which of the following marketing tests is conducted in an actual market environment?

Product _____ refers to when a new product attracts sales from an existing product.

Describe the various forms of innovation through collaborations?

The company's _____ spells out management's choice of the company's most promising opportunities for new products.

_____ innovation occurs when products are radically new and the values created are substantial.

Analyzing customer value expectations to finding new-product opportunities are very useful in evaluating potential transformational innovations.

A product prototype is the first completed model of the product that is ready for commercial production and marketing.

Which of the following is a description of the Generic (market-pull) products process type?

Explain the importance of concept evaluation in new-product planning.

When products become commodities,profit margins increase and differentiated advantages are easily achieved.

The _____ is a form of innovation through collaborative relationship in which a company chooses participants,defines the problem,and chooses the solution.

The elite circle is a form of innovation through collaborative relationship in which a company chooses participants,defines the problem,and chooses the solution.

New Challenges for Market Driven Strategy

Markets and Competitive Space

Strategic Market Segmentation

Strategic Customer Management: Systems, ethics, and Social Responsibility

Capabilities for Learning About Customers and Markets

Market Targeting and Strategic Positioning

Strategic Relationships

Strategic Brand Management

Value Chain Strategy

Pricing Strategy

Promotion, advertising, and Sales Promotion Strategies

Sales, digital, and Direct Marketing Strategies

Designing Market-Driven Organizations

Strategic Marketing Implementation and Control

Filters