Deck 3: Product Planning Strategy and Process

Question 1

The Ansoff Matrix is also known as the Product-Market Matrix.

Answer 1

True

Question 2

The Mission is represented at the apex (top) of the strategic planning pyramid.

Answer 2

True

Question 3

Objectives are based on goals that have been set by the company.

Answer 3

False

Question 4

"To be a market leader" is an example of an objective.

Question 5

A market penetration strategy is recommended when a company has a new product technology and a new market.

Question 6

A product development strategy is best used when a company has a current product technology combined with a new market.

Question 7

Historically, product planning has been an unstructured process.

Question 8

A strategy driven approach to product development is unstructured in nature.

Question 9

A market pull approach best parallels an idea-driven philosophy to product development.

Question 10

The Stage-Gate method is not a strategic approach to product development.

Question 11

__________ refers to the actions that managers take to attain the goals of the firm. It is often equated to a "game plan."

A) Plan.
B) Strategy.
C) Blueprint.
D) Innovation charter.

Question 12

At the apex (i.e., top) of the strategic planning pyramid we find the:

A) The Mission
B) The Objectives
C) The Strategy
D) The Goals

Question 13

According to the strategic planning pyramid, a company's objectives come from its:

A) Strategy.
B) Programs.
C) CEO.
D) Mission.

Question 14

"To achieve 50% of total revenue from products introduced in the last 3 years" is an example of a/n:

A) Strategy
B) Plan
C) Goal
D) Objective

Question 15

An Ansoff matrix comprises of two dimension; __________ and __________ .

A) Markets; Competitors
B) Markets; Consumers
C) Markets; Product-Technology
D) Markets; Products

Question 16

A Product Development Strategy is best in cases where a company is dealing with __________ .

A) Current Markets.
B) Current Regulations.
C) Current Product Technology.
D) Current Products.

Question 17

A market penetration strategy could be implemented by:

A) reducing costs
B) introducing a new product line extension
C) expanding into international markets
D) All of the above

Question 18

__________ approach closely reflects a strategic emphasis on addressing customer needs or problems.

A) Market-push
B) Technology-push
C) Technology-pull
D) Market-pull

Question 19

Processes like the Stage-Gate^TM process are important because they bring __________ to the product development process

A) Structure
B) Belief
C) Success
D) None of the above

Question 20

Risk profiles (or probabilities) from the various stages within a product planning process like the Stage-Gate^TM process allows us to determine:

A) What to put on our profit and loss statements.
B) How many new ideas we need at the beginning of product development to ensure that we have at least one successful product ready for launch.
C) Which stages need the most stringent safety standards.
D) All of the above