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Homework answers / question archive / 1)In the basic new products process, market analysis activities and the formulation of a product innovation charter occur immediately after an idea appears

1)In the basic new products process, market analysis activities and the formulation of a product innovation charter occur immediately after an idea appears

Management

1)In the basic new products process, market analysis activities and the formulation of a product innovation charter occur immediately after an idea appears.          True    False

 

  1. The product innovation charter (PIC) directing new product development eliminates more product ideas than all the other evaluations combined.            True    False

 

  1. Market analysis precedes the preparation of the product innovation charter and provides "a priori" conclusions about new product proposals.      True    False

 

  1. To avoid the bazooka effect, the idea source should be allowed to participate in the initial reaction.               

True    False

 

  1. A complete new product concept is a statement about anticipated product features that will yield problem solutions relative to other products already available.           True    False

 

  1. The first purpose of a concept test is to generate the sales or trial rate that a product would enjoy.               

True    False

 

  1. Concept testing can be used for developing an idea, not just for testing it.               True    False

 

  1. Prototypes are the least expensive form of concept statements because very few decisions have to be made about the new product to get it into a prototype.          True    False

 

  1. Virtual reality captures both the advantages and disadvantages of a prototype.        True    False

 

  1. The real-time response survey combines the best features of focus groups and surveys and has proved useful in screening new consumer product concepts.              True    False

 

  1. Benefit segmentation is used to identify unsatisfied market segments and concentrate a firm's efforts on developing concepts ideally suited to the needs of those segments.          True    False

 

  1. If the number of determinant attributes is very less, identifying benefit segments on an importance map can be very complex.        True    False

 

  1. When benefit segments are overlaid onto a perceptual map, it results in a cumulative expenditures curve.    

True    False

 

  1. A disadvantage of preference regression is that it can be done only on factor scores and not on attribute ratings.           True    False

 

  1. The awareness and availability components of the A-T-A-R model are usually assessed using customer feedback.         True    False

 

  1. Regarding the various tools for evaluating new products, which of the following evaluations occurs prior to the appearance of an idea?      
    1. Initial reaction
    2. Concept testing
    3. Full screening
    4. Market analysis

 

  1. Prior to the development phase of the new products process, product managers undertake up-front evaluation activities because:               
    1. they are under continual pressure to increase time to market.
    2. they don't want to spend time in gathering information and making decisions.
    3. they want a rising cumulative expenditure curve.
    4. they want to avoid incurring cost overruns.

 

  1. Which of the following is true of up-front evaluations?         
    1. Up-front evaluations are conducted after the development phase in the new products process.
    2. Up-front evaluations increase the likelihood of incurring cost overruns.
    3. During this phase of the process, not much attention is given to finalizing the positional statement.
    4. The practice of up-front evaluations is spreading because of the growing pressure to reduce time to  market.

 

  1. While preparing the product innovation charter (PIC), the earliest evaluation that a firm makes is of ____.    
    1. its competitors
    2. the legal requirements it has to fulfill
    3. the technologies used by its competitors
    4. itself and its situation

 

  1. Which of the following is true of the product innovation charter (PIC) of a firm?                A. The PIC is formulated at the end of the new products process.

B. The formulation of the PIC follows the phase of opportunity identification and concept generation. C.The PIC precludes the practice of having unwanted proposals eat up valuable development funds  before they are detected.

D. The PIC tends to eliminate less product ideas than any of the other evaluation techniques.

 

  1. In the context of the various tools for evaluating new products, _____ is the second evaluation that precedes the appearance of a concept.             
    1. market analysis
    2. cumulative expenditure graphing
    3. concept testing
    4. joint space mapping

 

  1. Which of the following is true of market analysis?     A. It follows the appearance of a concept.
    1. It eliminates more product ideas than all the other evaluations combined.
    2. It takes place immediately after the product innovation charter is approved.
    3. It is the earliest evaluation that a firm makes of itself.

 

  1. Once the product innovation charter has selected a market area for focus, which of the following should be done prior to the appearance of the concept?         A. Eliminate other existing product concepts.
    1. Withdraw all other products of the firm from the market.
    2. Study the market that has been selected.
    3. Decide the budget allocation for the new product.

 

  1. With reference to new product development, which of the following best describes the bazooka effect?

       

    1. Capturing the target market by introducing the new product at a low price
    2. Quickly blasting out suggestions in the initial reaction
    3. Enhancing the perceived image of a product by introducing it at a high price D. Approving a concept solely based on the technical criteria

 

  1. Which of the following actions can prevent the bazooka effect?       
    1. Allowing an idea source to participate in the initial reaction
    2. Giving the authority of rejecting an idea to a single person
    3. Encouraging the participants to give an initial reaction based on pure intuition D. Using trained and experienced evaluators for evaluating an idea

 

  1. One of the factors based on which a concept can be evaluated for a rough early screen is the factor of firm worth, which indicates if the:      
    1. present brand image of the firm is suitable for launching the new product.
    2. company has the appropriate technology for manufacturing the new product efficiently.
    3. new product project would enhance the firm's competencies.
    4. product's advantage can be maintained against competitive retaliation.

 

  1. Concept testing will work best for:     
    1. concepts related to consumer packaged goods.
    2. concepts embodying new art and entertainment.
    3. concepts embodying some new technology that users cannot visualize.
    4. concepts related to a product whose prime benefit is a personal sense.

 

  1. Concept testing was essentially invented by ____.     
    1. industrial firms
    2. wholesalers
    3. retailers
    4. advertising firms

 

  1. If it is simple to go from concept to full service description, then the services firm can proceed to:               A. developing the product innovation charter.
    1. developing a concept statement.
    2. prototype concept testing.
    3. analyzing competitors' offerings.

 

  1. A product concept is a:    A. core competency.
    1. product feature.
    2. physical prototype.
    3. claim of proposed satisfactions.

 

  1. Concept testing is a part of the _____ process.           
    1. development
    2. prescreening
    3. launch
    4. full screening

 

  1. The first purpose of concept testing is to:        A. estimate the likely sales or trial rate.
    1. identify very poor concepts for early elimination.
    2. refine revenue estimates claimed by marketers.
    3. identify the technology needed for development.

 

  1. Once a concept passes the first hurdle, concept testing will focus next on:                A. estimating the product's sales or trial rate.
    1. calculating production costs.
    2. approximating materials costs.
    3. prototyping the product.

 

  1. According to the classic five-point question format of the concept test for a product, the top-two-boxes score includes the number of people who:        
    1. definitely would buy the product or probably would buy the product.
    2. probably would buy the product or might or might not buy the product.
    3. might or might not buy the product or probably would not buy the product.
    4. probably would buy the product or definitely would not buy the product.

 

  1. According to the classic five-point question format for purchase intentions, which of the following is true of the top-two-boxes score?         
    1. This score represents the number or percentage of people who definitely would not buy a product.
    2. This score is used as an indicator of group reaction.
    3. Researchers who calibrate this score believe that it reflects real figures.
    4. This score is used to indicate the number or percentage of people who might or might not buy a              product.

 

  1. Which of the following is the largest supplier of concept tests?         
    1. The AE federation B. The BASES group
    1. The AMA group
    2. The APA association

 

  1. A concept statement developed during the new product development process:        A. describes the technology to be used for manufacturing the product.
    1. discusses the results of prototype testing.
    2. states a difference and how that difference benefits the customer.
    3. lists the guidelines for developing the new product.

 

  1. Practitioners urge that a concept statement should:     A. not claim determinant attributes.
    1. always be presented to potential buyers in a verbal format.
    2. be as descriptive and lengthy as possible.
    3. relate in some way to things familiar to the customer.

 

  1. Which of the following has to be usually supplemented by a narrative statement of the concept in a concept statement?      
    1. Prototypes
    2. Drawings
    3. Virtual reality images
    4. Models

 

  1. A commercialized concept statement:             
    1. sounds more like how a product would actually be promoted or advertised to customers.
    2. does not produce realistic customer evaluations.
    3. is also known as a "stripped description." D. just presents facts in the form of bullet points.

 

  1. Which of the following formats of concept testing produces more realistic evaluations but also risks the bias of good or poor advertising copy writing?     
    1. Narrative format
    2. Stripped description
    3. Commercialized format
    4. Virtual reality

 

  1. Which of the following adopter groups are the most important for concept testing of new products and, probably, market acceptance?      A. Early majority and late majority
    1. Early majority and laggards
    2. Innovators and early adopters
    3. Innovators and laggards

 

  1. Which of the following methods of concept testing combines the best features of focus groups and surveys and has proved useful in screening new consumer product concepts?           
    1. Group interviews
    2. Real-time response surveys
    3. Mail surveys
    4. Telephone surveys

 

  1. Which of the following is an immediate and critical question in concept testing that should be answered prior to all other questions?             
    1. How likely is it that the respondents would buy the product?
    2. How much do the respondents like the concept?
    3. Does the respondent understand the concept?
    4. What are the respondents' reactions to price?

 

  1. Track Inc. seeks to identify unsatisfied market segments in the health care insurance segment. It wants to concentrate its efforts on developing concepts ideally suited to the needs of these segments. For this purpose, the firm is most likely to employ _____.            
    1. benefit segmentation
    2. a risk or payoff matrix
    3. calibrated heuristics
    4. promotion segmentation

 

  1. Benefit segments are most likely to be identified or described using ____.               A. the risk or payoff matrix
    1. cluster analysis
    2. trial averages
    3. the cumulative expenditures curve

 

  1. The benefit segments overlaid onto a perceptual map result in a ____, which allows assessment of the preferences of each benefit segment for different product concepts.             
    1. cumulative expenditures curve
    2. risk or payoff matrix
    3. joint space map
    4. decay curve

 

  1. The optimum proportion of attributes desired by a market can be identified with the help of ____.    A. attribute calibration
    1. preference regression
    2. progression vectors
    3. factor analysis

 

  1. Which of the following is true of conjoint analysis in concept testing?          
    1. Conjoint analysis cannot feasibly test attributes and levels using a reduced set of cards.
    2. Conjoint analysis ranks the possible combinations of attributes from the least preferred to the most  preferred.
    3. Conjoint analysis cannot be used to identify those concepts that are the "real losers," which should not . be considered for further development.

DConjoint analysis is extremely useful in concept testing because of its ability to uncover relationships . between attributes and customer preferences.

 

  1. Conjoint analysis is used to identify _____.               
    1. survey variations
    2. the optimum combination of attributes
    3. high-potential gaps
    4. the optimum price for a product

 

  1. Briefly describe the provisos which can be applied by an organization to resist the bazooka effect.               

        

        

        

 

  1. Briefly discuss the situations in which concept testing will be less useful.     

        

        

        

 

  1. Discuss the use of prototypes as concept statement formats.              

        

        

        

 

  1. With reference to the various considerations in concept testing research, describe the real-time response survey procedure.      

        

        

        

 

  1. Describe the use of conjoint analysis in concept testing.         

        

        

        

 

 

 

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