Question 1

In which stage of the product life cycle should product strategy focus on process modifications as the product is being "fine-tuned" for the market?

Accepted Answer

During the introduction stage, product strategy often focuses on process modifications to fine-tune the product for the market, addressing initial feedback and ensuring the product meets consumer needs effectively.

Question 2

The moment-of-truth is the crucial moment between the service provider and the customer that exemplifies,enhances,or detracts from the customer's expectation.

Accepted Answer

This is the correct definition of the moment-of-truth. It is the critical moment when the service provider either meets or fails to meet the customer's expectations, and it can have a significant impact on the customer's overall experience and satisfaction.

Question 3

Which of the following represents an opportunity for generating a new product?

Accepted Answer

Understanding the customer can lead to identifying unmet needs and developing new products to meet them. Demographic changes, such as decreasing family size, can create new opportunities for products that cater to smaller households. Changes in professional standards can lead to new product requirements. Economic changes, such as rising household incomes, may create opportunities for new luxury or premium products. All of these factors can represent opportunities for generating new products.

Question 4

The expected value of each course of action in a decision tree is determined by starting at the beginning of the tree (the left-hand side)and working toward the end of the tree (the right).

Accepted Answer

The expected value of each course of action in a decision tree is determined by starting at the end of the tree (the right-hand side) and working backward toward the beginning of the tree (the left-hand side), a process known as backward induction.

Question 5

What information is contained in the roof of the House of Quality?

Accepted Answer

The roof of the House of Quality contains the relationship between the things we can do, showing how different technical requirements or product features relate to each other, often indicating whether they support or conflict with one another.

Question 6

In which stage of the product life cycle should product strategy focus on improved cost control?

Accepted Answer

In the maturity stage of the product life cycle, sales growth has slowed, and the market is becoming saturated. Therefore, companies must focus on cost control to maintain profit margins and increase profitability. This may involve streamlining production processes, reducing waste, and finding new suppliers to reduce costs.

Question 7

The customer may participate in the design of,and in the delivery of,services.

Accepted Answer

With the advent of co-creation and user-centered design, customer participation in the design and delivery of services is becoming more common. This approach recognizes the value of involving customers in the process to ensure that the services meet their needs and expectations.

Question 8

An assembly drawing lists the operations necessary to produce the component.

Accepted Answer

An assembly drawing shows the parts that make up a component and how they fit together, but it does not list the operations necessary to produce the component. That information would be found in a manufacturing process or work instructions document.

Question 9

When should product strategy focus on forecasting capacity requirements?

Accepted Answer

Capacity forecasting is most relevant during the growth stage of the product life cycle when demand for the product is increasing rapidly and there is a need to ramp up production to meet demand. At this stage, accurate capacity forecasting is essential to avoid stockouts and missed opportunities. Forecasting capacity requirements at the introduction stage may not be as critical since demand is uncertain and production levels may still be relatively low. At the maturity stage or decline stage, capacity requirements may be more predictable, but the focus may shift towards optimizing production efficiency rather than capacity forecasting. Saturation stage is not a recognized stage in the product life cycle, so it is not a relevant option.

Question 10

Operations managers must be able to anticipate changes in which of the following?

Accepted Answer

Operations managers must anticipate changes in all of the listed categories in order to make effective operational decisions and ensure the continued success of the business. Anticipating changes in product mix, opportunities, and volume can help managers adjust staffing levels or production processes accordingly, while anticipating changes in the products themselves can inform decisions about investments in new technology or changes in the supply chain.

Question 11

A product's life cycle is divided into four stages,which are

Accepted Answer

The four stages of a product's life cycle are introduction, growth, maturity, and decline. While some sources may use slightly different terminology or groupings (such as combining saturation with maturity), the stages generally follow this order and reflect the typical pattern of sales and marketing performance over time.

Question 12

Regal Marine

Accepted Answer

The passage states that Regal Marine treats the product design decision as critical to its success, indicating that the company places a strong emphasis on designing its boats. Therefore, option C is the best description of Regal Marine's approach to boat building.

Answer: A
 The passage also mentions that Regal Marine no longer builds boats with any wooden parts. This rule could be due to the growing concern for sustainability and the environment, as many manufacturers in various industries switch to using more eco-friendly and economically favorable materials.

Question 13

The analysis tool that helps determine what products to develop,and by what strategy,by listing products in descending order of their individual dollar contribution to the firm is

Accepted Answer

Product-by-value analysis lists products in descending order of their individual dollar contribution to the firm, which helps determine what products to develop and by what strategy. Decision tree analysis is used for decision-making under uncertainty, Pareto analysis focuses on identifying and prioritizing the most important problems, breakeven analysis calculates the minimum sales volume required to cover all costs, and product life cycle analysis is a framework for analyzing the sales history of a product. None of these tools specifically address determining what products to develop and by what strategy based on individual dollar contribution.

Question 14

Which of these statements regarding Regal Marine is true?

Accepted Answer

All of the statements are true according to the article. Regal Marine considers product design critical, uses a three-dimensional CAD system, still utilizes some wooden parts and hand production, and their use of CAD is said to result in a superior product.

Question 15

Which of the following would likely cause a change in market opportunities based upon levels of income and wealth?

Accepted Answer

The answer of Which of the following would likely cause...

Question 16

A work order is a listing of the components,their description,and the quantity of each required to make one unit of the product.

Accepted Answer

A work order is a document that outlines the production process for a particular job, including details such as the sequence of steps, the materials needed, and the labor required. It does not list the components and their descriptions for making one unit of a product. This statement describes a bill of materials.

Question 17

An assembly chart shows an exploded view of the product,usually a three-dimensional or isometric drawing.

Accepted Answer

The answer of An assembly chart shows an exploded view...

Question 18

The three major subdivisions of the product decision are

Accepted Answer

The three major subdivisions of the product decision are selection, definition, and design. These steps involve choosing which products to offer, defining their characteristics and specifications, and designing the products to meet those specifications and customer needs.

Question 19

Which of the following statements is not true?

Accepted Answer

Dell Computers has been known for allowing customers to customize their computer systems extensively, offering a wide range of hardware configurations rather than a limited choice. This customization is a key aspect of Dell's direct-to-consumer business model.

Question 20

________ is used to rank a company's products to determine which products represent the best use of the firm's resources,or,perhaps,to determine which products are to be eliminated.

Accepted Answer

Product-by-value analysis is a technique used to determine which products are the most valuable to a company. This analysis ranks products by their contribution to the company's profitability, and helps managers to determine which products are the most profitable and should receive the most resources. This method can also be used to identify products that are not profitable or may be consuming too many resources, and therefore should be eliminated. Value analysis and value engineering are methods used to reduce costs and improve the value of products, while financial analysis and product cost justification are general methods used for financial decision making.

Quiz 5: Sustainability in the Supply Chain and Design of Goods and Services