Deck 7: Product Innovation and Development Strategies

Question 1

______ is a noun with a definition along the lines of the 'introduction of something new'.

A) Invention
B) Innovation
C) Incubation
D) Development

Answer 1

B

Question 2

What is the difference between innovation and invention?

A) Innovation applies to things that are new to the world; invention applies to subsequent changes in that.
B) Invention applies to things that are new to the world; innovation applies to subsequent changes in that.
C) There is no difference between the two.
D) Innovation is the preceding step for an invention.

Answer 2

B
Explanation: The difference between innovation and invention is that invention applies to things that are new to the world; innovation applies to subsequent changes in that.

Question 3

What is not a type of innovation?

A) New to world
B) Products of current range
C) Repositions
D) New product lines

Answer 3

B
Explanation: Products of current range is not an innovation type.

Question 4

The car industry provides an interesting case for ______

A) standardization.
B) CMI.
C) customization.
D) BCG.

Question 5

easyJet and Ryanair are examples of which kind of innovation?

A) Repositioning
B) New product line
C) New to world
D) Cost reduction

Question 6

What is the order of the three stages of the development of new ideas?

A) Business screening, development and testing, idea generation
B) Business screening, idea generation, development, and testing
C) Idea generation, development and testing, business screening
D) Idea generation, business screening, development, and testing

Question 7

What does the development and testing stage of the new idea generation process does not involve?

A) Creating concept
B) Sales forecasting
C) Break even analysis
D) Market tests

Question 8

__________ refers to an open call to a large group of people (employees or external) for new ideas or to enhance the development process (Howe, 2008).

A) Collaboration
B) Crowd content generation
C) Cooperation
D) Crowdsourcing

Question 9

What is not an innovation activity?

A) Imitating others
B) Cost reductions
C) Additions to existing lines
D) New product lines

Question 10

Kellogg's introduction of a foil wrap for its cereals to improve freshness is an example of _________

A) new product lines.
B) new-to-the-world.
C) reposition.
D) improvements/revisions.

Question 11

What is often used to prepare the market to receive a new product?

A) Sales talks
B) PR
C) Group meetings
D) None of the options given are correct.

Question 12

What is solo-product roll?

A) Old product discontinued before new product is launched
B) Both old and new product are sold simultaneously for period.
C) Both old and new product are sold simultaneously.
D) The company quits the market.

Question 13

As per Rogers (1983), which groups of adopters are risk takers?

A) Late majority
B) Laggards
C) Innovators
D) Early adopters

Question 14

As per Rogers (1983), which groups of adopters are highly risk averse?

A) Late majority
B) Innovators
C) Early majority
D) Laggards

Question 15

Which of the following is not one of the groups of adopters?

A) Innovator
B) Early Mediators
C) Early adopters
D) Early majority

Question 16

As per Moore (1990), 40% of the new products disappear out after ______

A) business screening.
B) launch.
C) test marketing.
D) development.

Question 17

Moore stated that products don't slide from the left hand to the right; instead, they often meet with failure, which he categorized as falling into

A) black hole.
B) prism.
C) chasm.
D) Black sea.

Question 18

What is not a chasm strategy?

A) Techies
B) Visionaries
C) Cryptics
D) Conservatives

Question 19

______ are companies that are looking to get ahead of the rivals.

A) Visionaries
B) Techies
C) Cryptics
D) Pragmatists

Question 20

_______ are more risk averse than ______

A) Pragmatists, conservatives.
B) Innovatives, pragmatists.
C) Pragmatists, innovatives.
D) Conservatives, pragmatists.

Question 21

________ can be used to make sure the innovation works and to iron out any bugs.

A) Visionaries
B) Innovators
C) Pragmatists
D) Techies

Question 22

________ reference each other a "bowling alley strategy".

A) Techies
B) Visionaries
C) Conservatives
D) Pragmatists

Question 23

Yoffie and Kwak (2002) suggest which innovation strategy for non-market leaders?

A) Abstinence
B) Karate
C) Judo
D) Kickboxing

Question 24

What is movement when we talk of innovation strategies?

A) It is a pet cat play.
B) It is a pet mouse play.
C) It is a pet fish play.
D) It is a puppy dog play.

Question 25

Which is Not an option for innovation?

A) Isolate mode
B) Shape mode
C) Follow mode
D) Lead mode

Question 26

A low innovation orientation and a low market orientation is called a(n) ______mode.

A) shape
B) isolate
C) follow
D) interaction

Question 27

A high innovation orientation and a low market orientation is called a(n) ______mode.

A) shape
B) isolate
C) interaction
D) follow

Question 28

A high innovation orientation and a high market orientation is called a(n) ______mode.

A) shape
B) follow
C) interaction
D) isolate

Question 29

______ is when the consumer provides unique information so that the product can be tailored to varying degrees.

A) Mass consumption
B) Mass customization
C) Mass marketing
D) Mass consumerization

Question 30

What is the difference between elicitation and process flexibility?

A) Both are the same.
B) Process flexibility requires some means of interaction with the consumers to find their requirements, whereas elicitation is the use of technology to tailor products according to consumer needs.
C) Elicitation requires some means of interaction with the consumers to find their requirements, whereas process flexibility is the use of technology to tailor products according to consumer needs.
D) Elicitation requires some means of interaction with the consumers to find their requirements, whereas process flexibility is the use of technology to develop lowest cost products.

Question 31

One of the biggest challenges of mass customization is

A) consumers don't like the products.
B) technical issues.
C) poor market research.
D) inventory management.

Question 32

There are five approaches to implementing mass customization; which is not one of them?

A) Partial
B) Process
C) Products
D) Sales

Question 33

______ is the most common approach to mass customization.

A) Process
B) Products
C) Partial
D) Proactive

Question 34

_____ customization involves setting up a network via the internet or channel. This is an ingenious alternative to mass customization.

A) Partial
B) Product
C) Process
D) Virtual

Question 35

From an organization's point of view the NPD process may be driven ____ or _____

A) entrepreneurially, process.
B) technically, emotionally.
C) parallel, functionally.
D) None of the options given is correct.