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Marketing NPD Midterm > midterm_mkt530 > Flashcards

midterm_mkt530 Flashcards

1
Q

What’s true regarding a new product?
Failure rate for new prod is ~ 90% | new prod process is exceedingly simple | all ppl involved in the creation of prod belong to the same dept | successful new prods does more good for a firm than anything else

A

A successful new product does more good for a firm than anything else that can happen. Pg 6

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2
Q

With reference to the new product process, when the firm _____, it is called the ready, fire, aim approach

A

does not do the req’d homework before beginning development. Pg 7

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3
Q

Prod development has become more challengeing due to:
lack of feedback from supervisors | increased lvl of emp expectations | reduction in budget allocated for HR | increased globalization

A

increased globalization. Pg 8

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4
Q

When a current product of a company has been enhanced to better serve consumer needs, it will fall in this new product category.
New to world prod | additions to prod lines | prod improvements | new category entries

A

Product improvements. Pg 14

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5
Q

P&G’s Tide detergent, Apple’s iMac, and HP’s LaserJet are examples of:
line extensions | new to world prod | prod innovations | new to firm prod

A

Line extensions. Pg 14

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6
Q

Hallmark is known for selling cards, gift-wrapping materials, and collectibles. In the summer of 2000, Hallmark added fresh-cut flower arrangements to its product offering. In which of the following new product categories would the floral arrangements fall?

new to the world prod | new to the firm prod | addition to prod lines | prod improvements

A

New-to-the-firm products. Pg 14

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7
Q

Which of the following is not one of the steps in the NPD process?
Launch | concept generation | competitive analysis | opp identification & selection

A

Competitive Analysis. See chp 1

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8
Q

Which of the following is not one of the elements of PD?

Prod innovation charter| prototyping/testing | well-managed prod port | new products process

A

Prototyping and testing

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9
Q

Which of the following is not one of the 12 dimensions of biz innovation?
Customers | solutions | networking | price

A

Price

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10
Q

All of the following are challenges EXCEPT:
customer expectations are increasing | everything is tentative here | tech is making more possible | global comp is strengthening

A

Everything is tentative here. See chp 1

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11
Q

Which phase of the new prod process is characterized by selection of hi potential opp and beginning customer involvement?
Dev | opp identification/selection | launch | concept generation

A

Concept generation. See pg 30

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12
Q

Prod protocol should focus upon:

prod advert | prod benefits | prod price | prod specs

A

Product benefits. See pg 33

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13
Q

In which phase of the NP process is the marketing plan sketched and gradually fleshed out?
Dev | opp identification/selection | concept/proj evaluation | concept generation

A

Development. See pg 33

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14
Q

Which of the following is associated with the concept/proj eval stage of NPD process?
Fully screen prod | prototype concept | stated concept | idea concept

A

Fully screen concept. See pg 37

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15
Q

Which of the following is true about the platform?
Platforms can be used for manufacturing goods but not for services | The term platform was initially used in the package goods industry | platform can be a design | usage of a platform Increases cost of prod

A

Platform can be design. See pg 62/63

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16
Q

What’s true regarding a PIC?
Prepared by team leaders | vision statement applied at macro level | NPD is a process and other activities | designed to provide guidance to the BU on role of innovation

A

Designed to provide guidance to the BU on role of innovation

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17
Q

Boeing makes passenger, cargo, short-haul, and long haul aircraft from the same design and shared components. This is an example of:
prod platform | channel platform | brand platform | category platform

A

Product platfrom. See pg 63

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18
Q

Not a valid infput for prod innovation activity?

New prod sugg | passive generation of prod opp | research results | outlawed prod

A

Outlawed products

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19
Q

All of the following are considered in new prod port mgmt except:
hi risk vs low risk prod | proj types | geo markets | advertising

A

Advertising. See chp 3

20
Q

which of the following is true of creative ppl? Tend to be creative throughout their lives | typically eccentric | cannot benefit from training | cannot be measured

A

tend to be creative thru their lives

21
Q

Which of the following techniques encouraged creativiity at 3M?
Not imposing rules on creatives | not transferring creatives so they understood various aspects of the dept | giving group rewards for innovation | allowing free time for innovation

A

allowing free time for innovation

22
Q

_______ is defined in prod innovation as power to do work. Tech | potential | benefit | form

A

Technology

23
Q

With reference to the 3 inputs required by the creation process, _______ is the source by which the form is attained. Tech | benefit | potential | design

A

Technology

24
Q

What is the role of end users as source of ready-made new prod concepts

A

most concepts are for product improvements

25
Q

Leading cause for new prod failure is: lack of advertising | absence of perceived need by user | poor quality product | high cost

A

Absence of perceived need by the intended end user

26
Q

One way to addres the problem of new prod failure is to begin the dev process by:

A

identify unsolved consumer problems

27
Q

The most productive methodology to use for gathering a list of consumer problems is:
reviewing published sources | contacting stakeholders directly | brainstorming with consulting co | consulting experts

A

Contacting stakeholders directly

28
Q

Brainstorming and the group creativity techniques it spawned, tend to rely heavily upon:

A

Presenting/reacting sequence that gives group creativity its meaning

29
Q

Analytical attribute tech are used to: create new prod concepts | improve quality of prod | reduce cost of producing prod | identify users prob

A

Create new product concepts

30
Q

On a market map produced by gap analysis, customer perceptions of various products are indicated by: unique color code | positions on the map | relative size | unique shape code

A

Positions on the map

31
Q

What is a stats techinque in computer packags that reduces the large number of attributes of underlying dimensions which can serve as axes on a perceptual map?

A

Factor analysis

32
Q

Gap maps:

A

are useful in identifying potential product concepts

33
Q

The underlying premise for _______ is that product concept creativity is triggered by the mere listing of every physical feature of a product b/c we think about how that feature could be changed.

A

dimension analysis

34
Q

Relationship analysis involves:

A

finding relationships among dimensions to generate new product concepts

35
Q

Firm’s evaluation system does the following except: proceeds in a straight line, step by step | involves backtracking | individual evaluation steps | treat product and marketing plan together or indy

A

Straight line, step by step fashion

36
Q

The evaluation issue during the launch phase in the new product process is whether the firm has proven itself able to make and market the item on a commercial scale. This issue is usualy resolved by some form of ______

A

Market testing

37
Q

Before a product is launched, a company can make use of ______ to gather pieces of info that can substitue for what it wants to learn

A

Surrogate questions

38
Q

Which of the following eliminates the greatest number of product ideas? Prefence testing | PIC | attribute testing | market testing

A

PIC

39
Q

A product concept is:

A

Claim of proposed satisfactions

40
Q

Once the concept passes the first hurdle, concept testing will focus next on:

A

Estimating the product’s sale/trial rate

41
Q

Commercialized concept statements are:

A

It presents the concept statement in promo style

42
Q

To identify unsatisfied market segments, employ _______

A

Benefit segmentation

43
Q

Full screen should be generally carried out:

A

Before onset of technical development

44
Q

Screening is undertaken to:

A

Estimate the feasibility of technical and commercial accomplishments

45
Q

The scoring model which covers tech and commercial accomplishments and in/direct and benefits is ____

A

NPV

46
Q

Why is the use of weights in scoring models subject to criticism?

A

Weightings are necessary judgmental

47
Q

Graphical presentation of a new product idea for a full screen can be done via _______

A

Profile sheets

Marketing NPD Midterm (1 decks)

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