Question 1

Describe the various categories of new products.

Accepted Answer

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Question 2

According to the text,the goal of a new products process is to:
A)control the cost of the new product.
B)manage the amount of risk and uncertainty involved.
C)have very low failure rates by playing it safe with close-to-home innovations.
D)successfully launch the new product.

Accepted Answer

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Question 3

The _____ is tasked with leadership of a multifunctional new product development team.
A)functional representative
B)marketing manager
C)project manager
D)CEO

Accepted Answer

The project manager is responsible for leading the multifunctional new product development team. They are responsible for setting timelines, managing resources, and ensuring that the team meets project goals and objectives. The functional representative may be a member of the team, but not necessarily the leader. The marketing manager may have input into the product development process, but their primary role is in promoting and selling the product once it is developed. The CEO is not typically involved in day-to-day product development activities.

Question 4

In the evaluation tasks that occur after every phase in the new product process,a _____ problem occurs when teams actually make a full "Go" decision,but fail to commit any resources to the project.
A)hollow-gate
B)heuristic
C)fuzzy gate
D)unconfirmed step

Accepted Answer

A hollow-gate problem occurs when a team gives a green light decision but fails to allocate any resources towards the project. It is a common problem that undermines the effectiveness of the new product process. Choice A is the only option that describes this issue. Heuristic is a problem-solving approach, Fuzzy gate is a gate that lacks specific criteria, and Unconfirmed step is not a recognized term in the new product process evaluation tasks.

Question 5

A marketing researcher is most likely to serve as a(n)_____ in a new product development team.
A)functional representative
B)process manager
C)scientific advisor
D)project leader

Accepted Answer

A marketing researcher's expertise is primarily in gathering and interpreting customer insights and market trends. Therefore, they are best suited to serve as a functional representative in a new product development team, providing information about target customers, competitors, and market opportunities. While they may collaborate with the process manager, scientific advisor, and project leader, their primary role is to offer insights and recommendations from a marketing perspective.

Question 6

Briefly explain the terms: new products process,product innovation charter,and product portfolio management.

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Question 7

The _____,a strategy for new products,ensures that the new product team develops products that are in line with firm objectives and strategies and that address marketplace opportunities.
A)product concept
B)product portfolio
C)product framework
D)product innovation charter

Accepted Answer

The product innovation charter is a document that outlines the product development team's goals and objectives, as well as the marketplace opportunities that the new product should address. It ensures that the new product aligns with the firm's overall objectives and strategies. Choice A (product concept) refers to the idea or concept for the new product, and Choices B (product portfolio) and C (product framework) do not specifically address the strategy for new product development.

Question 8

What are the most important reasons for product failure?

Accepted Answer

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Question 9

In a new product process,an evaluation task that includes conditional "Go" decisions is sometimes called a(n):
A)heuristic.
B)fuzzy gate.
C)unconfirmed step.
D)hollow-gate.

Accepted Answer

A fuzzy gate is an evaluation task in a new product process that includes conditional "Go" decisions. It is called a "fuzzy" gate because the decision is not black or white, but rather dependent on certain conditions being met for the product to move forward in the process. The other options are not commonly used terms in new product development.

Question 10

The job of a _____ in the field of new products is to help project managers develop and use good new product processes.
A)team executive
B)process manager
C)functional representative
D)technical specialist

Accepted Answer

A process manager is responsible for developing and implementing effective processes and procedures for new product development. They work closely with project managers to ensure that the new product development process runs smoothly and efficiently. This involves identifying and addressing any potential bottlenecks, streamlining workflows, and ensuring that all team members are working together effectively. A team executive may oversee multiple projects, but may not have the specific expertise in developing effective new product processes. A functional representative may have expertise in a specific area (such as marketing or engineering), but may not have the overall process management skills required. A technical specialist may focus on specific technical aspects of the new product, but may not have the broader process perspective required.

Question 11

Which of the following is NOT true about the product innovation charter (PIC)?
A)It is developed by first or second level managers.
B)It provides guidance to all functional areas involved in innovation.
C)It defines a scope of activity for new product development.
D)It helps the product team identify where they should focus their efforts.

Accepted Answer

The product innovation charter (PIC) is typically developed by senior executives or by a cross-functional team that includes representatives from various departments involved in product innovation.

Question 12

Discuss the terms "product innovation" and "process innovation."

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Question 13

Which of the following statements is true regarding invention?
A)It is usually patentable
B)It refers to the dimension of complexity
C)There are far more innovations than inventions
D)It refers to the overall process whereby an innovation is transformed into a commercial product

Accepted Answer

Invention refers to the creation of a new idea or product, and it is usually patentable if it meets the criteria for patentability. Therefore, statement A is true. Statement B is incorrect because complexity is not a defining characteristic of invention. Statement C is also incorrect because inventions are a subset of innovations, so there are typically fewer inventions than innovations. Statement D describes the process of commercialization, which is a different concept from invention.

Question 14

What is a fuzzy gate? Explain with an example.

Accepted Answer

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Question 15

The most important factor contributing to the success of a new market offering is:
A)a unique,superior product.
B)a large advertising budget.
C)a massive distribution system.
D)price appeal.

Accepted Answer

While all of these factors can contribute to the success of a new market offering, having a unique and superior product is the most important factor. Customers are drawn to products that stand out from competitors and offer them something new or better. Without a strong product offering, advertising, distribution, and pricing strategies may not be enough to generate sustained success in the market.

Quiz 1: The Strategic Elements of Product Development

Describe the various categories of new products.

According to the text,the goal of a new products process is to:

The _____ is tasked with leadership of a multifunctional new product development team.

In the evaluation tasks that occur after every phase in the new product process,a _____ problem occurs when teams actually make a full "Go" decision,but fail to commit any resources to the project.

A marketing researcher is most likely to serve as a(n) _____ in a new product development team.

Briefly explain the terms: new products process,product innovation charter,and product portfolio management.

The _____,a strategy for new products,ensures that the new product team develops products that are in line with firm objectives and strategies and that address marketplace opportunities.

What are the most important reasons for product failure?

In a new product process,an evaluation task that includes conditional "Go" decisions is sometimes called a(n) :

The job of a _____ in the field of new products is to help project managers develop and use good new product processes.

Which of the following is NOT true about the product innovation charter (PIC) ?

Discuss the terms "product innovation" and "process innovation."

Which of the following statements is true regarding invention?

What is a fuzzy gate? Explain with an example.

The most important factor contributing to the success of a new market offering is: