Homework answers / question archive / 1)The new products process essentially turns a profit flow into an opportunity

1)The new products process essentially turns a profit flow into an opportunity

Management

Share With

---

1)The new products process essentially turns a profit flow into an opportunity.          True    False

 

2. In the project evaluation phase of the new products process, a full screen uses a scoring model of some type and results in a decision to undertake development, but never to quit.     True    False

 

3. The development and launch phase of the new products process comprise what is popularly called the "fuzzy front end".        True    False

 

4. A batch concept is generated during the concept evaluation phase of the new products process.     

True    False

 

5. A fully screened product passes the test of fit with a company's situation.                True    False

 

6. One of the benefits of accelerating time to market is that the product will be on the market for a longer period of time before becoming obsolete.        True    False

 

7. Firms that strive for mindshare think not about the speed of an individual product‘s development and launch, but rather about creating a dominant position in the mind of the customer.              True    False

 

8. A recommended way to cope when facing a high-turbulence environment is to encourage inflexibility by freezing a product concept until the last possible moment.            True    False

 

9. Using the cash-to-cash metric to complement speed-to-market helps a firm manage just the moment of launch, not the whole launch phase.                True    False

 

10. As opposed to goods, services are mass produced.     True    False

 

11. Firms that launch 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

 

12. Discovery-driven planning requires that managers make assumptions about the future in order to build their forecasts and targets, recognizing that these assumptions may be quite wrong.             True    False

 

13. Discovery-driven planning is typically seen in less-uncertain markets, where past results cannot be used to build predictable forecasts of the future.        True    False

 

14. In order to move promising radical innovation projects forward, senior management at some firms establishes a self-directed management team charged with moving an R&D innovation project to business operating status.         True    False

 

15. Technology-driven innovation doesn't really solve a customer problem, and therefore there is no application that can be brought to market.      True    False

 

16. Which of the following phases of the new products process involves selecting a high potential opportunity and beginning customer involvement?     
    1. Product launch
    2. Product development
    3. Concept evaluation
    4. Concept generation

 

17. Designing and validating the production process for the best prototype takes place during the _____ phase of the new products process.     
    1. launch
    2. concept generation
    3. project evaluation
    4. development

 

18. In the context of the new products process, which of the following best defines a full screen?        A. It refers to unsolicited ideas for concept generation that pour in through spam mails.
    2. It refers to the formal type of evaluation where all views are evaluated using a scoring model.
    3. It refers to a set of ideation tools that can be used to generate new concepts.
    4. It refers to a comprehensive business analysis that is conducted before idea generation.

 

19. 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.           
    1. Special opportunity analysis
    2. Ongoing corporate planning
    3. Ongoing marketing planning
    4. Distribution channel planning

 

20. 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?      A. The product development phase
    2. The product launch phase
    3. The concept generation phase
    4. The concept or project evaluation phase

 

21. In the context of opportunity identification and selection, DuPont's discovery of Surlyn, a material with hundreds of potential uses, would fall under which of the following categories?         A. An underutilized resource
    2. A new resource
    3. An external mandate
    4. An internal mandate

 

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

 

23. 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?             
    1. An underutilized resource
    2. A new resource
    3. An external mandate
    4. An internal mandate

 

24. The _____ comes into play once an opportunity is approved, and managers turn to various techniques to guide new product people in exploiting it.              A. Concept Novelty Copyright (CNC)
    2. Product Development Mandate (PMC)
    3. Product Innovation Charter (PIC)
    4. Concept Ideation Rule (CIR)

 

25. In the _____ phase of the new products process, opportunities are carefully and thoroughly described, then analyzed to confirm that a sales potential does, indeed, exist.                
    1. concept generation
    2. opportunity identification and selection
    3. concept or project evaluation
    4. development

 

26. 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?              
    1. Concept or project evaluation phase
    2. Product development phase
    3. Product launch phase
    4. Concept generation phase

 

27. When evaluating a new product proposal, a(n) _____ is used to see what potential consumers think about the idea.    
    1. utility test
    2. feasibility analysis
    3. concept test
    4. construct validity analysis

 

28. In the new products process, after evaluating an idea, various views on the idea are combined together in what is often called the:    A. full screen.
    2. decision window.
    3. product protocol.
    4. product prototype.

 

29. Project evaluation involves preparing a statement of what is wanted from the new product, and this statement is called the:    A. product concept.
    2. product protocol.
    3. product prototype.
    4. product innovation charter.

 

30. In which of the following phases of the new products process are prototypes typically created?     
    1. The concept generation phase
    2. The concept or project evaluation phase
    3. The opportunity identification and selection phase
    4. The development phase

 

31. Identify the phase in the new product development process during which the item first acquires finite form.    
    1. The concept generation phase
    2. The development phase
    3. The launch phase
    4. The concept or project evaluation phase

 

32. The development phase of the new product process involves the development of:               A. new product suggestions.
    2. the marketing plan.
    3. the product innovation charter.
    4. the product financing plan.

 

33. The _____ test is a critical step which for the first time tests the feasibility and success of the marketing program and the product together.             
    1. market
    2. benefits
    3. concept
    4. utility

 

34. In which of the following phases of the new products process does market testing take place?       A. The opportunity identification and selection phase
    2. The concept generation phase
    3. The launch phase
    4. The concept or project evaluation phase

 

35. The concept evaluation phase of the new product process involves:              
    1. collecting and generating new product concepts that fit an opportunity.
    2. preparing strategy, tactics, and launch details for the marketing plan.
    3. specifying the entire development process and its deliverables.
    4. assessing new product concepts on technical, marketing, and financial criteria.

 

36. Which of the following is an evaluation task in the concept generation phase of the new products process?

       

1. 1. Deciding which direction to take
   2. Preparing progress reports
   3. Reviewing market testing
   4. Conducting an initial review

 

37. In the context of the concept or project evaluation phase of the new products process, a _____ is a product definition that includes the intended market user, the problem perceived, the benefits the new product would have to have, plus any mandatory features.                
    1. screening concept
    2. process concept
    3. protocol concept
    4. pilot concept

 

38. Which of the following is associated with the concept generation phase of the new products process?    A. Protocol concept
    2. Batch concept
    3. Fully screened concept
    4. Stated concept

 

39. With regard to the concept or project evaluation phase of the new product process, a prototype concept is best described as a:             
    1. company skill or resource, or a customer problem.
    2. form or a technology, plus a clear statement of benefit.
    3. tentative physical product or system procedure, including features and benefits.
    4. product definition that includes the intended market user, the problem perceived, and the benefits that . the new product would have to have.

 

40. Which of the following is associated with the concept or project evaluation phase of the new products process?    
    1. Idea concept
    2. Prototype concept
    3. Fully screened concept
    4. Stated concept

 

41. In the context of the development phase of the new products process, a _____ is best described as a tentative physical product or system procedure.         
    1. prototype concept
    2. tested concept
    3. fully screened concept
    4. stated concept

 

42. Both market value and clarity are lowest for a(n):    A. protocol concept.
    2. idea concept.
    3. opportunity concept.
    4. stated concept.

 

43. In which of the following phases of the new products process is the first full test-of-fit with manufacturing made?              
    1. The launch phase
    2. The opportunity identification phase
    3. The concept generation phase
    4. The development phase

 

44. Which of the following is true of the batch concept?             A. It is the first full test-of-fit with manufacturing.
    2. It is a form or a technology, plus a clear statement of benefit.
    3. It is a tentative physical product.
    4. It is a concept that passes the test of fit with a company‘s situation.

 

45. In the new products process, a cross-functional team:            A. only includes members of the top management.
    2. seeks to eliminate "over-the-wall" product development.
    3. discounts parallel processing.
    4. starts working on the project only in the later phases of the process.

 

46. Digicon Inc. is a firm with mindshare in the category of digital cameras. With reference to this information, which of the following statements is true regarding the firm?               
    1. The digital cameras manufactured by the firm are the cheapest in the market.
    2. The firm offers the widest range of digital cameras.
    3. The marketing plan employed by the firm is the best in the industry.
    4. The digital cameras manufactured by the firm are seen as the standard for competitors to match.

 

47. Services and goods are often arrayed on a scale which ranges from pure service to pure good. Where does an insurance policy stand on this scale?              
    1. Pure service
    2. Primarily service and partly a good C. Primarily a good and partly service

D. Pure good

 

48. Early, non-functional versions of proposed new products, called ____, are often provided to allow consumers to try and comment on innovative offerings.         
    1. product props
    2. focused prototypes
    3. product models
    4. batch concepts

 

49. Identify the new products process where, through interaction with customers, designers are inspired to probe, experiment, and improvise, and as a result, may come up with a successful new-to-the-world product.    A. Probe-and-learn
    2. Consumer analysis
    3. Mind sharing
    4. Concept redefining

 

50. Identify the term used to describe the iterative process where the developing team develops prototypes from dozens of different new product ideas, eventually settling on a prototype that customers like.             A. Focused prototype method
    2. Prototype analysis
    3. Lickety-stick
    4. Concept improvisation

 

51. Discuss the concept or project evaluation phase of the new products process.           

        

        

        

 

52. Discuss the five methods to accelerating time to market as identified by new products consultant Robert Cooper.    

        

        

        

 

53. Discuss the risks and guidelines of speeding to market.         

        

        

        

 

54. Identify the factors responsible for the high failure rates of new-to-the-world products with relevant examples.    

        

        

        

 

55. Discuss the role of serial innovators in the new products process.