Exam 9: Setting Product Strategy and Introducing New Offerings

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

Capital items are long-lasting goods that facilitate developing or managing the finished products.

The main advantage of co-branding is that a product may be convincingly positioned by virtue of the ________ involved.

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

The product hierarchy stretches from basic needs to particular items that satisfy those needs.

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

________ exhibit replacement cycles dictated by physical wear or obsolescence associated with changing style, features, and performance.

Some firms might delay a new product launch until after the competitor has borne the cost of educating the market and its product may reveal flaws the late entrant can avoid. This can be classified as a parallel entry.

Which of the following methodologies takes the list of desired customer attributes (CAs) generated by market research and turns them into a list of engineering attributes (EAs) that engineers can use?

A ________ is the set of all products and items a particular seller offers for sale.

An innovation's rate of adoption depends in part on compatibility, or the degree to which the benefits of use are observable or describable to others.

Guarantees are most effective in two situations. The first is when the company or products are not well known. The second is when the product's quality is ________ to competition.

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

________ branding is a special case of co-branding involving creating brand equity for materials, components, or parts that are necessarily contained within other branded products.

Identify the five main characteristics that affect the diffusion of innovations. Describe each and provide an example.

The product-line length can be obtained by averaging the number of variants within the brand groups.

Which of the following is most closely related with the organic growth of an organization?

Manufacturers of systems such as razors and ink jet printers use a system of pricing called "two-part pricing": one price for the disposable products and another for the "hardware."

Smith & Adams Poultry set up a computer system so that its customers (restaurants and hotels) can directly inform its central supply system about purchase volumes and dates, as well as automatically receive confirmation of orders and shipments. This is an example of a company differentiating its service in terms of ________.

What are the situations in which guarantees are most effective?