Which of the followin g best describe s Innovati on?

The thinking of novel ideas The process of conception, development and commercialisation The successful development of a new product None of the above The management process of invention

Most major innovations are the result of:
Maverick scientists who stumble by accident on major new discoveries Extended efforts by experts in that field All of the above Serendipity Extensive market research

The technology push model of innovation is characterised by:
A marketplace that is a passive receptacle for the fruits of R&D Extensive consumer research None of the above A marketplace that communicates its needs to producers Extensive market research

the science base and the organisation's capabilities Innovations require a significant input from market research None of the above Innovations occur as the result of the interaction of the marketplace and the science base Innovations require serendipity Although flawed and overly simplistic the technology push linear model of innovation can be applied to: The sports goods industry None of the above The food industry The pharmaceutical industry The fmcg industries The innovation network framework emphasises: The role of marketing Internal and external interactions All of the above . The interactive model of innovation recognises that: Innovations occur as the result of the interaction of the marketplace.The essential nature of the market pull model of innovation is: A marketplace that can communicate its needs to producers A large marketplace A science base that has effective links with industry All of the above A powerful research & development (R&D) activity.

This has: None of the above Helped to stimulate interest in science within schools Helped scientists inform people about science and technology Caused considerable harm to the understanding of science and technology Helped more people to understand the process of scientific discoveries Innovation management may be described as a process and involves: A creative effort that if successful results in the introduction of novelty All of the above A response to either a need or an opportunity that is context dependent The need for further changes None of the above .The role of science and technology Industrial innovation includes: Process innovations All of the above Organisational innovations Radical innovations Product innovations The popular view of technological innovation is that of the lone professor stumbling by accident on major new discoveries.

C. ? the primary means for differentiating your product from your competitors’ B. The most profitable 'Long Tail' companies are the ones that A. Innovations provide A.1. not factory output offer opportunities for transforming physical distribution into lower cost and scalable digital distribution D. Digital services benefit from innovation because A. ? ? ? offer the largest choice scale on database size. ? ? ? ? There is no shelf space to pay for no manufacturing costs low distribution fees all of the above 3. D. C. C. ? ? ? higher profit margins potential barriers to entry all of the above 2. ? all of the above . B. D. B.

The core competences a firm need to acquire A. new markets. risk may be lowered sufficiently to warrant innovation . ? standards have been agreed upon. C. Successful innovation happens in four realms A. ? commercialization. ? technology and standards are fluid. and do not necessarily perform well C. Miney. new technologies. ? well developed scientifi theories provide the raw material for emerging technologies B.4. ? new products. D. capitalization. ? ? ? ? depend on the maturity of the underlying technology depend on their competitors should be purchased none of the above 6. In the era of ferment A. D. commoditization C. Moe none of the above 5. Meeny. ? ? Eeny. B. globalization. new ways of matching firm assets and competences B.

? none of the above 9. ? are 'incremental' in that they make no demands for significant change in firm competences or markets B. ? are ‘progressive’ in requiring management of market transitions D. The majority of innovations A. C. ? all of the above 7. ? are ‘radical’ in requiring a complete reengineering of their competences C. ? the automotive industry developed in a "knowledge cluster" . The early automotive industry parallels other more recent technologies in the following way: A.D. B. Profitability of an innovation is determined by A. ? all of the above 8. ? ? ? the nature of the innovation barriers to entry in imitating it understanding complements required to complete the innovation D.

C. D. B. The benefits of Ford's technology acrued mainly to A. patent system was used to stifle creativity the most successful product did not possess better technology D.S. C. Ford succeeded because of A. ? ? the U. D. C.B. ? ? ? ? good marketing good technology sound production all of the above 11. B. ? all fo the above 10. ? ? ? ? customers workers management investors What are the two ways that a compan .

and social responsibilities. and salespeople are all . marketing mix. products. competitors. functional features competitors. and markets. product images product life cycle. manufacturing employees. legal responsibilities. new styles customers.y can obtain new product s? internal development and merger line extension and brand management market mix modification and research and development service development and product extension new-product development and acquisition Which of the following is not a potential cause of the failure of a new product? higher than anticipated costs of product development a poorly designed product an underestimated market size an incorrectly positioned product ineffective advertising The creation of a successful new product depends on a company's understanding of its ________ and its ability to deliver ________ to customers. distributors. brands. product. innovations Executives. superior value customers. and marketing strategy. and employees.

competitors trade shows and magazines the firm's executives suppliers customers GrayBerry Gifts has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage. After consulting with a friend you learn that all of the following are common external sources except ________. new-product committee members core members of innovation management systems internal sources for new-product ideas external sources for new-product ideas research and development team members Which of the following is perhaps the most important external source of new-product ideas? distributors and suppliers trade magazines. to arrive at a realistic number to adopt. called ________ . idea screening . and seminars customers engineers competitors Your firm wants to use external sources for new product ideas. shows.examples of ________.

a product physical or in ________ form is presented to groups of concept symbolic target consumers. product image product proposal product concept product idea product movement An attractive idea must be developed into a ________.idea generation concept development product concept idea dissemination A detailed version of a new idea stated in meaningful customer terms is called a ________. final prototype commercial market-tested . product image product concept product idea product strategy test market In the concept testing stage of new-product development.

a firm would engage in which stage in developing and marketing a new product? test marketing idea screening business analysis product development marketing strategy development The second part of the marketing strategy statement outlines the product's planned price. distribution. advertising marketing budget promotion target market positioning During which stage of new-product development is management most likely to estimate minimum and maximum sales to assess the range of risk in launching a new product? test marketing product development concept testing business analysis marketing strategy development .After concept testing. and ________ for the first year.

In the ________ stage of new-product development. The major purpose of test marketing is to provide management with the information needed to make a final decision about ________. When a new product requires a major investment. products often undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them. how to compete in the market how to develop a market strategy which market to compete in whether to launch the new product how long to compete in the market Which of the following costs is most likely associated with the commercialization stage of new-product development? identifying target markets . When management is not sure of the product. When the product has no substitutes and is new in its category. business analysis idea generation concept development and testing product development marketing mix Under what circumstances might it be wise for a company to do little or no test marketing? When the costs of developing and introducing the product are low. When management is not sure of the marketing program.

systematic approach a market pioneer mindset and a holistic approach a holistic and sequential product development approach ________ is a new-product development approach in which one company department works to complete its stage of the process before passing the new product along to the next department and stage. and marketing budget developing a prototype of the product building or renting a manufacturing facility paying groups of target consumers for product feedback Which of the following is necessary for successful new-product development? a team-based. innovation-management approach an innovation management system and sequential product development a customer-centered. cross-functional teams departmentalization a step-by-step process . distribution.determining the product's planned price. Product life-cycle analysis Team-based product development Simultaneous product development Micromarketing Sequential product development The team-based new-product development approach is faster because departments work closely together through _______. team-based.

It takes longer to get the right products to market. intermittent strategically planned segmented seldom systematic Increasing profits will most likely occur at which stage of the PLC? decline maturity product development growth introduction . The search for new-product ideas should be ________ rather than haphazard. The development effort is not as effective because of team members' lack of expertise. The process does not work with the shorter life cycles of many of today's products.team efforts the help of a consultant Which of the following is a disadvantage of a team-based approach to new-product development? Levels of risk can be more easily controlled. Organizational confusion and tension can be a part of the process.

maturity introduction decline commercialization growth In which stage of the PLC will promotional expenditures be high in an attempt to react to increasing competition? introduction . product ideas are developed products and markets work to forecast product performance concept testing is conducted to develop marketing strategies In the ________ stage. the firm faces a trade-off between high market share and high current profit.Which of the following cannot be described by the PLC concept? product class product form brand product image styles The PLC concept can be applied by marketers as a useful framework for describing how ________.

increased competition.product development growth decline maturity Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers? phase-in decline maturity growth introduction Most products in the marketplace are in the ________ stage of the product life cycle. and ________. growth development introduction decline maturity Sales decline in the decline stage of the PLC because of technological advances. shifts in the economy shifts in consumer tastes and preferences marketing mix modifications new market pioneers shifts in unemployment .

the development of a consistent image the adaptation of products to different markets decreased manufacturing costs lower marketing costs lower product design costs Schmidt Steel Corporation lacks the confidence. Even though test market results look promising. and capacity . maintain the product without change search for replacements drop the product harvest the product delay planning The advantages of standardizing an international product include all of the following except ________.A manufacturer with a product in the decline stage of the product life cycle might decide to ________ if it has reason to hope that competitors will leave the industry. what will be management's next step? develop a planned market rollout over time seek the help of a nationally known consultant develop a prototype retest the product in additional markets secure a loan to provide confidence. and capacity to launch its new steel product into full national or international distribution. capital. capital.

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