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1) Products that are inventions and create a whole new market are called:         new-to-the-world products

Economics

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1. new-to-the-world products.
2. new-to-the-firm products.
3. "flanker" brands.
4. improvised products

2  The companies have to innovate and offer new products to their costumers in order to be competitive. We cans say that new-to-the-firm products are:

1. inventions that create a whole new market.
2. products that take a firm into a category new to it.
3. products that are new to the world, but are not new to the firm.
4. products that are retargeted for a new use or application.

True/False?

• 1.By definition, new products are limited to significant technological innovations.
• 2. A successful new product does more good for a firm than anything else that can happen.
• 3. p. 7) Historically, almost 90 percent of all new products have failed.
• 4 Business firms expect, and get, a high percentage of their sales and profits from new products
• 5. A firm's global presence is no guarantee that it will automatically know how to efficiently manage its global operations.
• 6 Firms with a global innovation culture have the most effective global new product programs.
• 7 The new products team ideally is selfdirected.
• 8 The term "product innovation" usually applies to functions, especially manufacturing or distribution, and every new product benefits from this type of innovation.
• 9. New-to-the-world products are the least common form of new products.
• 10 New-to-the-firm products are the least likely to require consumer learning.

True/False?

• 11. The new product development process begins with the generation of attractive product concepts by new products people.
• 12. The full screen uses a scoring model of some type and results in a decision to deal only with development.
• 13 The leading factor in new product success is the development of a uniquely superior offering.
• 14. The development and launch phase comprise what is popularly called the fuzzy front end.
• 15 In the new products process, a batch concept is generated during the concept evaluation phase.
• 16. A new product suddenly emerges from R&D.
• 17. Firms that launch pioneering new-to-the-world products into the market incur a significantly lower long-term survival rate than those that enter the market later.

True/False?

• 18 Typically, the product innovation charter is prepared by team leaders.
• 19. The product innovation charter can be thought of as a kind of mission statement, but applied at a more micro level within the firm.
• 20 The core competencies of a firm are an excellent place to start the search for charter arena definitions.