chapter 1 - 2 - 3 Flashcards
(57 cards)
Reviewing and resetting innovation management approaches is termed
dynamic capability
(re and re -> die)
(reviewing and resetting –> dynamic)
Doing what we do better and creating opportunities are considered to be
aspects of innovation
do better + create opportunities –> aspects of INV
Innovation managers and practising entrpreneurs in large business have learned from the world of experience that “successful innovators”
=> all of the options listed: build dynamic capability manage innovation as a process understand different dimensions of innovation develop innovation capability create an innovation strategy
(successful innovator –> build, manage, understand, develop, create)
Turning niches into a mass markets is an example of
cost innovation
- Selling high-end products at mass-market prices
- Offering choice or customization to value customers
- Turning niches into mass markets
(-> tốn chi phí -> “cost”)
(mass-market, customization –> cost inv)
Rethinking of services and meeting social needs are aspects of
innovation
rethink, meet social needs –> aspects of inv
incremental innovation (… gains, … implemented, … tech)
- immediate gains
- can be rapidly implemented
- based on sustained technologies
\ - develops customer loyalty
- steady improvements
- obedience to cultural routines and norms
(incremental –> immediate, rapidly, sustained, loyalty, steady, norms)
disruptive innovation
- experimentation (sự thí nghiệm) (and play/make-believe)
- needs to be nurtured for long periods
- create new markets
/ - fundamental rethink
- based on disruptive technologies
- worse initial performance, potential big gains
(disruptive –> fundamental, experimentation, new market, disruptive tech, big gains)
*Questions such as - what are we going to need? How will we get resources? are dealt with in
strategic implementation
(strategic –> need, resources, partner, roadblocks)
Who we may need to partner with?
What likely roadblocks we could face?
Creating an innovation strategy involves three key steps
analysis: what could we do?
selection: what are we going to do, and why?
implementation: how are we going to make it happen?
Which of the following is not considered a component of creativity
imagination
Creativity = creative thinking skills + knowledge + motivation
A business plan involves planning resources and developing a budget which is then compared with sales projections to ascertain the true
market size that can be captured
business plan –> market size - captured
Which of the following is not a part of the creative process:
software development
```
recognition/preparation
incubation
insight
validation/refinement
re incu in va
(insight -> validation)
~~~
*Tidying up an idea and building on their initial insight is known as
validation - idea, insights (hợp thức hóa)
*Which of the following is “not” considered part of feasibility analysis to screen opportunities
process feasibility
- Product feasibility - is it real?: can be made (pro) or delivered (service)?
- Market feasibility - is it viable?: pp want it? ready to pay?
- Economic feasibility - is it worth it?: can be developed, manufactured, and distributed while generating a profit?
(feasibility analysis –> product, market, economic;
fear –> pro, mar, ec)
Quantity of ideas is an important rule to follow in
brainstorming
quantity of ideas –> brainstorming
When people are intrinsically motivated at their workplace they work towards achieving
personal challenge
motivated at their workplace –> challenge
Value refers to the
total offering
value - offering
As part of your marketing PhD you decide to investigate factors affecting people’s “attitudes, beliefs, behaviours, preferences, customs and lifestyles”. These macro-environmental forces which you investigate are collectively known as
Sociocultural forces
socio - attitudes
The Heart Foundation publicising the health risks associated with a poor diet is an example of how the organisation can ….. customers, clients, partners, competitors and other parties that make up its industry
exert some “influence” on the
heart foundation - influence
Brand equity, customer satisfaction, market share and return on marketing investment are all examples of
marketing metrics
- brand equity
- customer satisfaction
- market share
- return on marketing investment
The Council of Australian Governments (COAG) Healthy Communities Initiatives is an Australian government initiative that aims to reduce the prevalence of obesity within the target population. This initiative is best described as an example of
a not-for-profit organization using marketing practices
healthy communities, government initiative – not-for-profit organization
Which of the following is part of an organization’s marketing environment
- The organization’s micro-environment
- The organization’s macro-environment
- Any internal or external force that affects the organization’s ability to create, communicate, deliver and exchange offerings of value
(micro, macro, internal and external)
(all of the options listed)
*Which of the following should influence an organization’s marketing planning
organizational objectives
situation + objective = marketing planning
Which of the following would not be a part of an organization’s micro-environment?
The economy
macro: political, technological, economic, legal, sociocultural, evironmental
micro: customers, partners and competitors
