Erin Walker
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MKT20024 study questions - multiple choice

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Erin Walker
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Product & Service Innovation Management Exam Revision

Frage 1 von 70

1

With reference to the new products process, a firm adopts the ready—fire—aim approach when it:

Wähle eine der folgenden:

  • does not do the required homework before beginning development

  • lacks senior management support

  • chases a moving target

  • does not pay enough attention to quality

Erklärung

Frage 2 von 70

1

According to the latest Comparative Performance Assessment Study (CPAS), in comparison to the Rest, Best companies are:

Wähle eine der folgenden:

  • less likely to rely on online communities for information gathering

  • more likely to employ informal processes for selecting which concepts to develop

  • less likely to rely on portfolio analysis for product selection

  • more likely to use tradeoff analysis

Erklärung

Frage 3 von 70

1

Which of the following firms will have the most effective worldwide new product programs?

Wähle eine der folgenden:

  • Firms that use quality circles

  • Firms that have implemented total quality management

  • Firms that follow a global innovation culture

  • Firms that are leaders in their respective industries

Erklärung

Frage 4 von 70

1

Firms with a global innovation culture:

Wähle eine der folgenden:

  • can better manage the R&D tasks associated with the new products process

  • are unwary of the differences in customer needs and preferences

  • have a disadvantage in implementing global launches

  • are only open to domestic markets

Erklärung

Frage 5 von 70

1

Rules of thumb that firms have found that work for them can be referred to as:

Wähle eine der folgenden:

  • syntaxes

  • heuristics

  • synergies

  • charters

Erklärung

Frage 6 von 70

1

New-to-the-firm products:

Wähle eine der folgenden:

  • are new to a company, but are not new to the world

  • most likely require consumer learning

  • most likely involve the incorporation of a very new technology

  • tend to revolutionize existing product categories

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Frage 7 von 70

1

_____ are also known as "flanker" brands.

Wähle eine der folgenden:

  • Improvised products

  • Line extensions

  • Repositionings

  • New-to-the-world products

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Frage 8 von 70

1

Ace Corporation is a manufacturer of powder and liquid dishwashing detergents. Owing to popular demand, the company introduces a single-load, scented, gel detergent encased in water-soluble bags designed to fit dishwasher detergent trays. The firm's new product is best described as a(n):

Wähle eine der folgenden:

  • new-to-the-world product

  • repositioned product

  • improvised product

  • line extension

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Frage 9 von 70

1

Luminos Co., a popular manufacturer of kitchen appliances, decides to enter the manufacturing sector of crockery and dinnerware. It markets a line of dinnerware, Illuminia, for the first time in its history. Its dinnerware will most likely fall into which of the following new product categories?

Wähle eine der folgenden:

  • New-to-the-world products

  • Line extensions

  • Product improvements

  • New-to-the-firm products

Erklärung

Frage 10 von 70

1

Which of the following is the first phase in the basic new products process?

Wähle eine der folgenden:

  • Product development

  • Concept ideation and generation

  • Opportunity identification and selection

  • Project evaluation

Erklärung

Frage 11 von 70

1

The _____ comes into play once an opportunity is approved, and managers turn to various techniques to guide new product people in exploiting it.

Wähle eine der folgenden:

  • Product Innovation Charter (PIC)

  • Concept Novelty Copyright (CNC)

  • Concept Ideation Rule (CIR)

  • Product Development Mandate (PMC)

Erklärung

Frage 12 von 70

1

In which of the following phases of the new products process is the first formal type of assessment done on new product concepts with regard to financial, technical, and marketing criteria?

Wähle eine der folgenden:

  • Concept or project evaluation phase

  • Product development phase

  • Product launch phase

  • Concept generation phase

Erklärung

Frage 13 von 70

1

When evaluating a new product proposal, a(n) _____ is used to see what potential consumers think about the idea.

Wähle eine der folgenden:

  • utility test

  • feasibility analysis

  • concept test

  • construct validity analysis

Erklärung

Frage 14 von 70

1

Project evaluation involves preparing a statement of what is wanted from the new product, and this statement is called the:

Wähle eine der folgenden:

  • product concept.

  • product protocol.

  • product prototype

  • product innovation charter.

Erklärung

Frage 15 von 70

1

Brew & More, a popular beverage manufacturer, produces and sells a popular mint flavored drink called Mintz. A new competitor enters the market and offers a similar mint-based drink that's suited for consumers on diet. This company offers its products at a much lower price. Brew & More calls for a line extension to meet the encroachment of its new competitor in its annual marketing plan. Identify the stream of activity that feeds strategic planning for new products in this scenario.

Wähle eine der folgenden:

  • Special opportunity analysis

  • Ongoing corporate planning

  • Ongoing marketing planning

  • Distribution channel planning

Erklärung

Frage 16 von 70

1

Acron Co.'s new products team is engaged in the new products process. The members of the team select a high potential opportunity and begin creating new product ideas by identifying problems businesses or people have and suggesting solutions to them. Which of the following phases of the new products process will the team enter next?

Wähle eine der folgenden:

  • The product development phase

  • The product launch phase

  • The concept generation phase

  • The concept or project evaluation phase

Erklärung

Frage 17 von 70

1

George, the marketing manager of Axil Bicycles, discovers that the company's current market is becoming stagnant and the product life cycle is far past the dynamic growth stage. George also learns that Axil's competitor, Kinetixyles, is developing an innovative new bicycle with novel features. George thus proposes that Axil Bicycles should also come up with a new product, equipped with superior features. Which of the following types of opportunities is identified here?

Wähle eine der folgenden:

  • An underutilized resource

  • A new resource

  • An external mandate

  • An internal mandate

Erklärung

Frage 18 von 70

1

Wähle von der Aufklappliste, um den Text zu vervollständigen.

An example of an internal mandate is the ( product innovation gap, quality gap, assessment gap, performance gap ), which tends to increase the discrepancy between a firm‘s current sales and the target sales established during long-range planning.

Erklärung

Frage 19 von 70

1

Designing and validating the production process for the best prototype takes place during the phase of the new products process.

Klicke und ziehe, um den Text zu vervollständigen.

    development
    concept generation
    launch
    project evaluation

Erklärung

Frage 20 von 70

1

In the context of the new products process, which of the following best defines a full screen?

Wähle eine der folgenden:

  • It refers to unsolicited ideas for concept generation that pour in through spam mails

  • It refers to the formal type of evaluation where all views are evaluated using a scoring model

  • It refers to a set of ideation tools that can be used to generate new concepts

  • It refers to a comprehensive business analysis that is conducted before idea generation

Erklärung

Frage 21 von 70

1

Wähle von der Aufklappliste, um den Text zu vervollständigen.

Ace Corporation, a software development firm, used a standard set of subcomponents for all its multimedia products. Ace is using a ( product platform, channel platform, category platform, brand platform ).

Erklärung

Frage 22 von 70

1

Which of the following is true of product planning?

Wähle eine der folgenden:

  • If customers differ in their preferences, firms will often resort to a platform strategy

  • Firms that take a domestic approach to new products, on average, do better than those that develop products for multinational markets

  • If customer needs are very different; one way is to sell a global product that does not scale economies

  • Firms adopt a "global" strategy to use several platforms to provide a single product across multinational markets

Erklärung

Frage 23 von 70

1

are widely used and tend to be billion-dollar assets personally driven by CEOs

Klicke und ziehe, um den Text zu vervollständigen.

    Brand platforms
    Product platforms
    Category platforms
    Channel platforms

Erklärung

Frage 24 von 70

1

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 "The transparent self." Which of the following observations is primarily associated with this trend?

Wähle eine der folgenden:

  • There is more information about consumers available to product managers now than ever before

  • People like making spur-of-the-moment decisions based on real-time information

  • People can sense their environment better now than ever before; what might be "too much information" for some might be essential information for others

  • As more people become accustomed to virtual spaces, the boundary between these and the real world will become increasingly blurred

Erklärung

Frage 25 von 70

1

Wähle von der Aufklappliste, um den Text zu vervollständigen.

A manufacturer of ice creams introduces a new mint and lime flavored ice cream. According to the product/market matrix, the amount of innovativeness risk that the firm brings with this new flavor would be ( low, high, medium, dangerous ).

Erklärung

Frage 26 von 70

1

Which of the following statements is true of a product innovation charter (PIC)?

Wähle eine der folgenden:

  • It is typically prepared by middle-level managers

  • It is designed to provide guidance to the business units on the role of innovation

  • It reminds us that the new product strategy is primarily for processes and other activities

  • It can be thought of as a kind of vision statement that is applied at macro level

Erklärung

Frage 27 von 70

1

Which of the following, if implemented, will most likely ensure that the product innovation charter (PIC) is effective?

Wähle eine der folgenden:

  • A PIC strategized toward processes rather than products

  • A PIC developed exclusively by specific teams rather than cross-functional teams

  • A PIC prepared by senior management to define the role and scope of innovation

  • A PIC that is relatively different from a mission statement

Erklärung

Frage 28 von 70

1

Any "rules of the road" requirements imposed by a situation or by upper management form a part of the section of a PIC.

Klicke und ziehe, um den Text zu vervollständigen.

    background
    guidelines
    focus
    goals-objectives

Erklärung

Frage 29 von 70

1

Wähle von der Aufklappliste, um den Text zu vervollständigen.

The best new product ideas are based on ( channel desires, manufacturing efficiencies, profit goals, customer problems ), which serve as the heart of the concept generation process.

Erklärung

Frage 30 von 70

1

Which timing strategy is very demanding, because a firm following this strategy has to make the decision to enter the market before the innovator is successful or has even come to market?

Wähle eine der folgenden:

  • Slower entry

  • Quick second

  • First entry

  • Late entry

Erklärung

Frage 31 von 70

1

Identify the activity that takes place during the phase of "preparing a firm for ideation."

Wähle eine der folgenden:

  • Collecting concepts from internal sources

  • Establishing a nucleus for the screening stages

  • Offering possible solutions

  • Conducting an in-depth analysis of markets

Erklärung

Frage 32 von 70

1

Creative people tend to be creative throughout their lives and never become uncreative.

Wähle eins der folgenden:

  • WAHR
  • FALSCH

Erklärung

Frage 33 von 70

1

The MBTI Creativity Index uses an individual's to assess his or her creativity

Klicke und ziehe, um den Text zu vervollständigen.

    general knowledge
    numerical ability
    personality scores
    intelligence quotient

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Frage 34 von 70

1

Rex is the general manager of the New Way Hotel. Whenever an employee comes up to Rex with a new idea, he listens patiently, cites all of the advantages of the new idea and then addresses the negatives, but only in a constructive mode. Identify the technique being used by Rex to encourage creativity.

Wähle eine der folgenden:

  • Accentuating the positive

  • Itemized response

  • Creative abrasion

  • Social cohesion

Erklärung

Frage 35 von 70

1

Prior to proceeding with development of a new product, a group of technical people and intended customers will review a statement to assess its potential.

Klicke und ziehe, um den Text zu vervollständigen.

    product input
    product potential
    product process
    product concept

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Frage 36 von 70

1

In the context of obtaining product ideas, open idea solicitation is known as:

Wähle eine der folgenden:

  • crowdsourcing

  • skimming

  • market penetration

  • shoulder surfing

Erklärung

Frage 37 von 70

1

Wähle von der Aufklappliste, um den Text zu vervollständigen.

( Resellers, Vendors, Lead users, Inventors ) are those customers that are sought by a firm for eliciting new product ideas, since they have been associated with a significant current trend.

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Frage 38 von 70

1

The objective of a firm using open innovation is to:

Wähle eine der folgenden:

  • completely outsource its R&D

  • to reach out beyond its familiar research partners and to access R&D carried out globally

  • allow for inputs purely from external sources by keeping the internal sources on hold for a later point in time

  • get tolerant to some aberrations and thereby allow innovation at the cost of rule violations

Erklärung

Frage 39 von 70

1

One of the complicated issues a firm must manage in an open innovation policy is:

Wähle eine der folgenden:

  • complete outsourcing of a company's R&D

  • top management support

  • intellectual property protection

  • restrict the knowhow a company develops internally

Erklärung

Frage 40 von 70

1

Identify the correct statement with regard to end users as a source of ready-made new product concepts.

Wähle eine der folgenden:

  • They are most likely to generate modest product improvements rather than new-to-the-world products

  • A typical end-user is more likely to come up with ideas that are easily developed into real products

  • The role of an end user is independent of the industry and does not vary across industries

  • A customer-designed product cannot be directly transferred to manufacturing or production

Erklärung

Frage 41 von 70

1

Which of the following is the reason that one can telescope the product development process into shorter periods of time?

Wähle eine der folgenden:

  • The development process always proceeds in a step by step manner

  • The development process begins after the initial prototypes are generated

  • A product and its marketing plan are evaluated as separate and divisible pieces

  • A cross-functional team works on the development process

Erklärung

Frage 42 von 70

1

The very first evaluation in the product development process usually:

Wähle eine der folgenden:

  • occurs after a product idea has been developed

  • precedes the product concept

  • follows the development of a prototype

  • follows the product launch

Erklärung

Frage 43 von 70

1

During the concept generation phase of the basic new products process, the goal of product evaluation is to:

Wähle eine der folgenden:

  • chart out the PIC

  • cull out the big/sure losers

  • conduct protocol checks and prototype tests

  • speculate sale in retrospect

Erklärung

Frage 44 von 70

1

A is an evaluation technique that tells one whether he or she is ready to develop a product for serious field testing

Klicke und ziehe, um den Text zu vervollständigen.

    speculative sale
    scoring model
    protocol check
    full screen test

Erklärung

Frage 45 von 70

1

Which of the following statements is true of the cumulative expenditure curve?

Wähle eine der folgenden:

  • The early expenditures curve initially slopes downward and then starts sloping upward

  • The late expenditures curve is representative of product development in technical fields such as optics

  • The late expenditures curve initially slopes upward and then starts sloping downward

  • The early expenditures curve is representative of product development in technical fields

Erklärung

Frage 46 von 70

1

Wähle von der Aufklappliste, um den Text zu vervollständigen.

According to the risk/payoff matrix, during the phase of concept/project evaluation of the new products process, a ( drop, decay, launch, development ) error occurs when a winning product is discarded.

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Frage 47 von 70

1

In which of the following risk strategies is risk reduced to an acceptable, threshold level, perhaps through redesigning a product to include more backup systems or increasing product reliability?

Wähle eine der folgenden:

  • Mitigation

  • Avoidance

  • Passive acceptance

  • Transfer

Erklärung

Frage 48 von 70

1

In the new product evaluation process, everything in new product work should be keyed to a Go/No Go decision

Wähle eins der folgenden:

  • WAHR
  • FALSCH

Erklärung

Frage 49 von 70

1

In a new product development project that is evaluated with the help of rolling evaluation, participants avoid mindsets of good and bad about the project

Wähle eins der folgenden:

  • WAHR
  • FALSCH

Erklärung

Frage 50 von 70

1

In the case of the A-T-A-R model, R stands for .

Klicke und ziehe, um den Text zu vervollständigen.

    rate
    repeat
    region
    response

Erklärung

Frage 51 von 70

1

Which of the following is true of market-driven innovation?

Wähle eine der folgenden:

  • The main purpose of design in market-driven innovation is to modify the product so that it meets customer expectations.

  • In market-driven innovation, new meanings and new technologies are pushed forth

  • In market-driven innovation, design is of primary importance, and it takes on the leadership role

  • The main role of design in market-driven innovation is to modify the product so that it can accommodate the performance characteristics

Erklärung

Frage 52 von 70

1

Wähle von der Aufklappliste, um den Text zu vervollständigen.

( Universal, Exclusive, Individualistic, Unique ) design is the term sometimes used to mean the design of products to be usable by anyone regardless of age or ability.

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Frage 53 von 70

1

DarkBerry Inc., a cellphone manufacturer, manufactures products that share common design features that make them unique, yet at the same time familiar. All of DarkBerry's cellphones have a sleek appearance and an elegant design. DarkBerry's products can be best described as being designed:

Wähle eine der folgenden:

  • for the environment

  • to build or support corporate identity

  • for ease of manufacture

  • for price promotion

Erklärung

Frage 54 von 70

1

The process by which a customer's need is developed into a product design is called .

Klicke und ziehe, um den Text zu vervollständigen.

    product differentiation
    product architecture
    product positioning
    product validation

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Frage 55 von 70

1

Chunks (or modules) are defined during which of the following steps of the product architecture process?

Wähle eine der folgenden:

  • Analyzing interactions between chunks

  • Creating the product schematics

  • Creating geometric layouts

  • Clustering the schematic elements

Erklärung

Frage 56 von 70

1

Flyto Co., a Japanese automobile manufacturing company, recently introduced two new car models in America. These models were developed using the same platform as one of Flyto's existing models, but were modified incrementally in terms of technology. Flyto's latest products are examples of:

Wähle eine der folgenden:

  • breakthrough products

  • derivative products

  • counterfeit products

  • innovative products

Erklärung

Frage 57 von 70

1

Wähle von der Aufklappliste, um den Text zu vervollständigen.

Artwork Corps' new product team is preparing decorative graphics, a brand name, and a logo for its latest potential product. The team is most likely to be in the ( product launching, prototyping, design consolidation, concept testing ) stage of new product development.

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Frage 58 von 70

1

Which of the following is most likely to be used in product-use testing?

Wähle eine der folgenden:

  • A focused prototype

  • A comprehensive prototype

  • A conceptual prototype

  • An ideational prototype

Erklärung

Frage 59 von 70

1

are technical people who convert styling into product dimensions or specifications.

Klicke und ziehe, um den Text zu vervollständigen.

    Industrial designers
    Marketing personnel
    Design engineers
    Process engineers

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Frage 60 von 70

1

Colocation helps integrate departments

Wähle eins der folgenden:

  • WAHR
  • FALSCH

Erklärung

Frage 61 von 70

1

Wähle von der Aufklappliste, um den Text zu vervollständigen.

If a firm decides to be very aggressive at the time of launching a new product, it is an example of a(n) ( platform decision, action decision, tactical decision, operational decision ).

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Frage 62 von 70

1

Which of the following metrics is used to assess the financial performance of individual products?

Wähle eine der folgenden:

  • Customer satisfaction

  • Competitive effect

  • Profitability

  • Market share

Erklärung

Frage 63 von 70

1

Which of the following is a product level performance measure used for individual products?

Wähle eine der folgenden:

  • Market share

  • Unit volume

  • Product use

  • Time to launch

Erklärung

Frage 64 von 70

1

For a new product entry or line addition in an established market, the emphasis is on stimulation of:

Wähle eine der folgenden:

  • trial purchase, which is a precursor to adoption

  • joint demand for the new product as well as an existing product

  • repeat purchases for an existing product

  • derived demand for the new product as well as an existing product

Erklärung

Frage 65 von 70

1

Wähle von der Aufklappliste, um den Text zu vervollständigen.

Gloria, a marketing manager at Big Three Inc., is preparing for the launch of a new product. The company's top management wants to keep its spending strategy low key. To convince the top management that the new product needs an aggressive entry, Gloria should promote the marketing cost associated with the launch as a(n) ( tariff, expense, investment, liability ).

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Frage 66 von 70

1

information in combination with brand perceptions can be very helpful in developing a product positioning strategy.

Klicke und ziehe, um den Text zu vervollständigen.

    End-use segment
    Geographic segment
    Demographic segment
    Benefit segment

Erklärung

Frage 67 von 70

1

Leo Burnett advertising agency uses scanner data to cluster food buyers into six groups. Which of these groups consists of people who buy all major brands, always on deals?

Wähle eine der folgenden:

  • Loyalists

  • Price-driven

  • Light users

  • Rotators

Erklärung

Frage 68 von 70

1

Some firms capitalize on the end-user penchant by just launching a product and following up to see who the buyers are, then focusing their promotions accordingly. This is an example of a(n) .

Klicke und ziehe, um den Text zu vervollständigen.

    wildcat operation
    rollout strategy
    enhancement strategy
    butt-on operation

Erklärung

Frage 69 von 70

1

One of the methods to position a product in the marketplace is to use attributes. In this context, which of the following is an attribute?

Wähle eine der folgenden:

  • Benefits

  • Surrogates

  • Expert opinions

  • Metaphors

Erklärung

Frage 70 von 70

1

Which of the following contradicts the concept of an umbrella brand strategy?

Wähle eine der folgenden:

  • Mass brand strategy

  • Generic brand strategy

  • Corporate brand strategy

  • Individual brand strategy

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