complete the final exam

Multiple Choice Questions1. When a current product of a company has been enhanced to better serve consumer needs,
the product will fall into the new product category of _____.
A. new-to-the-world products
B. repositionings
C. line extensions
D. product improvements
2. 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):
A. new-to-the-world product.
B. line extension.
C. repositioned product.
D. improvised product.
3. _____ refer to those products that are retargeted for a new use or application.
A. “Flanker” brands
B. Line extensions
C. Repositionings
D. New-to-the-world products
4. Well-known business writer, Gary Hamel, has described _____ as “the most important
business issue of our time.”
A. product distribution
B. the creation of radical innovation
C. advertising and marketing of services
D. product line extensions
5. Which of the following statements is true of the importance of new products?
A. The failure rate for new products is estimated to be around 90 percent.
B. The new products process is exceedingly difficult.
C. Radical innovation is detrimental to the survival of a firm.
D. All the individuals involved in the creation of a new product generally belong to the same
department.
6. Which of the following is a reason for product failure in a firm?
A. Resorting to radical innovation with the new products process
B. Avoiding the use of the ready—fire—aim approach in the product development process
C. Chasing a moving target
D. Paying too much attention to customer needs
7. With reference to the new products process, a firm adopts the ready—fire—aim approach
when it:
A. lacks senior management support.
B. does not pay enough attention to quality.
C. chases a moving target.
D. does not do the required homework before beginning development.
8. According to the latest Comparative Performance Assessment Study (CPAS), in comparison
to the Rest, Best companies are:
A. more likely to use tradeoff analysis.
B. less likely to rely on portfolio analysis for product selection.
C. more likely to employ informal processes for selecting which concepts to develop.
D. less likely to rely on online communities for information gathering.
9. Which of the following firms will have the most effective worldwide new product programs?
A. Firms that have implemented total quality management
B. Firms that use quality circles
C. Firms that follow a global innovation culture
D. Firms that are leaders in their respective industries
10. Firms with a global innovation culture:
A. have a disadvantage in implementing global launches.
B. are unwary of the differences in customer needs and preferences.
C. can better manage the R&D tasks associated with the new products process.
D. are only open to domestic markets.
11. Rules of thumb that firms have found that work for them can be referred to as:
A. heuristics.
B. syntaxes.
C. synergies.
D. charters.
12. Products that are inventions and create a whole new market are called:
A. new-to-the-world products.
B. new-to-the-firm products.
C. “flanker” brands.
D. improvised products.
13. New-to-the-firm products are:
A. inventions that create a whole new market.
B. products that take a firm into a category new to it.
C. products that are new to the world, but are not new to the firm.
D. products that are retargeted for a new use or application.
14. New-to-the-firm products:
A. most likely require consumer learning.
B. most likely involve the incorporation of a very new technology.
C. tend to revolutionize existing product categories.
D. are new to a company, but are not new to the world.
15. _____ are also known as “flanker” brands.
A. Line extensions
B. New-to-the-world products
C. Improvised products
D. Repositionings
16. Zooky Inc. is a well-known manufacturer of bubble gums, candies, chewing gums, and edible
breath strips. The company recently introduced a new range of sugar-free, antibacterial
chewing gum. Zooky’s new product can be best described as a(n):
A. line extension.
B. new-to-the-firm product.
C. new-to-the-world product.
D. repositioned product.
17. 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?
A. New-to-the-world products
B. New-to-the-firm products
C. Line extensions
D. Product improvements
18. Which of the following is considered to be the most innovative category of new products?
A. Cost-reduced products
B. New-to-the-firm products
C. New-to-the-world products
D. Line extensions
19. Which of the following statements is true regarding invention?
A. An invention is usually patentable.
B. To managers, invention is a dimension of complexity.
C. There are far more innovations than inventions.
D. An invention refers to the overall process whereby an innovation is transformed into a
commercial product.
20. _____ refers to the overall process whereby an invention is transformed into a commercial
product that can be sold profitably.
A. Innovation
B. Attribution
C. Brainstorming
D. Pricing
21. A marketing researcher is most likely to serve as a _____ in a new product development
team.
A. functional representative
B. process manager
C. scientific advisor
D. project leader
22. The job of a _____ in the field of new product management is to help project managers
develop and use good new product processes.
A. team executive
B. process manager
C. functional representative
D. technical specialist
23. A _____ assumes a leadership role that oversees a team of people representing various
functional departments.
A. functional representative
B. process manager
C. project manager
D. marketing researcher
24. The _____, a strategy for new products, ensures that the new product team develops products
that are in line with firm objectives and strategies and that address marketplace
opportunities.
A. product prototype
B. product portfolio
C. product framework
D. product innovation charter
25. _____ helps a firm assess which new products would be the best additions to existing product
lines, given both financial and strategic objectives.
A. A product finances charter
B. Product portfolio management
C. A product assessment matrix
D. Product value-add assessment
Short Answer Questions
1.
What is “accelerated product development”? How and through what specific techniques can
this be accomplished without skipping critical steps in the new product process? Give examples
to illustrate your answer.
2.
Explain the six trade-offs that are inherent in technical product development. [Handout.]
3.
4.
What is “concurrent engineering or manufacturing”? Why is it important?
Explain the difference between pseudo sale, controlled sale, and full sale approaches to market
testing.
5.
Be prepared to explain, describe, compare, and contrast the purpose, procedures, advantages,
and limitations of each of the following market testing methods. In answering such questions,
explain what key market factors (e.g., the A-T-A-R model) each method actually experiments
with and measures (as opposed to controlling or simply making assumptions about them).
a) Speculative sale
b) Simulated test marketing (e.g., BASES II and ASSESSOR)–with or without a “sales wave”
c) Informal selling
d) Direct marketing
e) Minimarkets (sometimes called “controlled tests”) [Note the variation in how minimarket
tests may be conducted.]
f) Scanner market testing (such as BehaviorScan)
g) Test marketing (sometimes referred to as full sale, traditional, or standard test marketing)
h) Rollout [as an alternative to market testing]