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Exam 20: Introducing New Market Offerings

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Question 51

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Which of the following is an advantage of sales-wave research?

A) It gives surprisingly accurate results on advertising effectiveness.
B) It allows the brand to gain favorable shelf position.
C) It guarantees immediate brand recognition and high sales volume.
D) It can be implemented quickly with a fair amount of security.
E) It easily creates a buzz in the minds of customers.

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Question 52

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Intercom, Inc. together with its subsidiaries, primarily engages in the generation, transmission, and distribution of electric power. The company observes that its growth has stagnated over a period of two years. In an attempt to promote growth, it considers adding new features to the existing products and introducing a few new products. The company forms a committee consisting of three top executives, one of the production mangers, a few operational managers, and a representative of the HR department to generate ideas. This team is called a(n) ________.

A) virtual team
B) venture team
C) fundamental team
D) elemental team
E) transitory team

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Question 53

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Attribute listing lists several ideas and considers each in relationship to the others.

________ are informal workplaces, sometimes garages, where intrapreneurial teams attempt to develop new products.

Which of the following terms refers to the degree to which the innovation can be tried on a limited basis?

The job of translating target customer requirements into a working prototype is helped by a set of methods referred to as ________.

Which of the following is the mental step in consumer-adoption process where the customer starts considering whether to try the innovation?

Most established companies focus on incremental innovation rather than radical innovation.

Identify the stage in the consumer adoption process in which the customer is stimulated to seek information about the innovation.

What is crowdsourcing?

Some firms might delay new product launch until after the competitor has borne the cost of educating the market and its product may reveal flaws the late entrant can avoid. This can be classified as a parallel entry.

Briefly explain the three choices available to companies when deciding the timing of market entry.

Consumer preferences for alternative product concepts can be measured through ________, a method for deriving the utility values that consumers attach to varying levels of a product's attributes.

In a ____________, the project leader, working with a cross-functional team, must bring a set of known deliverables to each gate before the project can pass to the next stage.

What is the consumer-adoption process? What are the various steps in the process?

Which of the following uses conceptual lens and structured innovative-thinking tools to achieve market perspectives from different angles?

Sales-wave research can be implemented quickly and carried out without final packaging and advertising.

Briefly explain the three parts of the demand-first innovation and growth (DIG) framework.

A business analysis is performed mainly to identify if a company has got a technically and commercially sound product.

Adaptive conjoint analysis (ACA) is a "hybrid" data collection technique that combines self-explicated importance ratings with pair-wise trade-off tasks.