Deck 4: Opportunity Identification and Market Planning

Question 1

New government regulations are an example of internal mandates that result in new opportunities being identified.

Answer 1

False

Question 2

An undifferentiated strategy ignores segment differences in a market

Answer 2

True

Question 3

Market segmentation is not useful when it comes to identifying new opportunities.

Answer 3

False

Question 4

A product innovation charter is a mission statement for the opportunity.

Question 5

Technology segmentation is one approach to dividing a market of consumers.

Question 6

A differentiated strategy targets two or more segments in a market

Question 7

The three C's of the Situation Analysis refers to Cost, Convenience, and Customer.

Question 8

Porter's five forces model offers an approach to doing an industry analysis.

Question 9

The market segmentation process:

A) positions products in the minds of prospects and customers.
B) divides a market into distinct groups of consumers.
C) offers one version of the product to all markets.
D) identifies markets with unfulfilled needs.

Question 10

Opportunity Identification is __________ in the product development process.

A) the last stage
B) the middle stage
C) an ongoing set of activities
D) not relevant

Question 11

Possible sources of new opportunities include all of the following except:

A) Underutilized resources.
B) Internal mandates.
C) New resources.
D) Old resources.

Question 12

Newly formed governmental regulations are an example of ________ that lead to new opportunities being identified.

A) Old resources
B) Internal mandates
C) New resources
D) External mandates

Question 13

Internal mandates usually come from:

A) The top management team including the CEO.
B) The R&D department.
C) Market research.
D) All of the above

Question 14

__________ is a strategic technique for finding new opportunities:

A) Positioning
B) Segmentation
C) Collaborating
D) None of the above

Question 15

Which of the following is a geographic variable for segmenting a market?

A) Family size.
B) Occasions.
C) Cities.
D) Age.
E) Gender.

Question 16

__________ and __________ are the two dimensions of the market planning framework.

A) Offering, Customers
B) Competitors, Marketing Mix
C) Situation Analysis, Marketing Mix
D) Breakdown Analysis, Offering

Question 17

Which of the following is one of the "three Cs" in the market planning framework?

A) Competitor.
B) Creativity.
C) Concepts.
D) Criteria.

Question 18

_________ attempts to assess customers and competitors in the marketplace.

A) Economic Analysis
B) Customer Analysis
C) Competitor Analysis
D) Situation Analysis

Question 19

Porter's five-forces model is primarily concerned with:

A) the success of a potential product.
B) the attractiveness of a market.
C) the concept evaluation criteria.
D) the technical development of a product.

Question 20

A product innovation charter includes:

A) background.
B) goals.
C) guidelines
D) All of the above.