Assignment 1 Knowledge Test 1

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Assignment 1: Knowledge test 1
Enterprise Innovation and markets (Western Sydney University)
Studocu is not sponsored or endorsed by any college or university

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)
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1.m
When buying your first car, you choose to buy a used Mazda 3 from a dealer rather than a
slightly cheaper Mazda 3 advertised privately. Your mum thinks you made a good choice, but
your dad thinks the privately advertised car would have been a better deal. Why is there a
difference in opinion?
Value means different things to different people
Value can be based on perception
Value can be a comparison of the benefits a customer receives from a product in
relation to its price
Value can include product quality and after sales service
All of the options listed
Successful businesses in the late 1900's were those that adopted a

pure competition strategy
diffrentiation strategy
market dominance strategy
market orientation startegy
market penetration strategy
Customers are a part of an organisation's _____________environment.

internal
micro
macro
internal and macro
customers are not part of the organisation's environment
Cultural factors influencing people's attitudes, beliefs, behaviours, preferences, customs and
lifestyles are known as
political forces
economic forces
sociocultural forces
technological forces
environmental forces
Marketing theories draw on many other disciplines including

all of listed options
management
economics
psychology
sociology
The marketing process cycle is

expensive to implement
an ongoing cycle

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based on competitors activities

determined by the SWOT model
all of the listed options
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
political forces
economic forces
A devaluation of the Australian dollar makes exports cheaper and imports more expensive.
Within the macro-environment, this is known as a(n)
political force
economic force
sociocultural force
technological force
counter-trade force
At Coca Cola, the marketing department regularly conducts analysis that involves breaking the
marketing environment down into smaller parts in order to better understand it. This is an
example of
the PESTEL framework
environmental analysis
situational analysis
marketing planning
situational planning
Which of the following is not a part of an organisation's external environment?

Customers
Competitors
The micro-environment
Partners
None of the options listed
Marketing metrics are measures that are used to

assess the micro-environment
assess the macro-environment
assess marketing performance
assess marketing planning

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Which of the following is part of an organisation's marketing environment?

The organisation's micro-environment
The organisation's macro-environment
Any internal or external force that affects the organisation's ability to create,
communicate, deliver and exchange offerings of value
The organisation's internal environment
Your company has decided to investigate its likelihood of success if it expands its operations
from a national company to a multinational company. The key environmental factors that your
company must consider when analysing this extended marketing environment include political,
economic, _____________, technological, _____________ and legal forces.
sociocultural, environmental
cultural, environmental
global, sociocultural
global, environmental
social, cultural
Choose the best answer from the options below to complete the following sentence. An
organisation chart can be a useful tool to help analyse an organisation's
market perception
marketing mix
external environment
internal environment
sales force
_______________ is considered as the purpose for innovation, whether expressed in growth,

sustainability, improvement of social welfare or in financial terms.
Entrepreneurship
Corporate venture
Creating value
Unexpected occurrences
Nanotechnology
Turning niches into mass markets is an example of

Strategic selection
Dynamic capability
Cost innovation
Meeting social needs

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Which of the following combinations best describes incremental innovation?

based on sustained technologies; needs to be nurtured for long periods; creates
new markets
immediate gains; based on disruptive technologies; develops customer loyalty
steady improvements; based on sustained technologies; needs to be nurtured for
long periods
can be rapidly implemented; based on sustained technologies; immediate gains
all the listed options
Creative replication of a concept, an existing service or a product are principles for the
Duplication type of
Incremental innovation
Cost innovation
Strategic advantage
Paradigm shift
Position dimension
Which of the following is not considered a type of incremental innovation?

extension
duplication
reduction
synthesis
Public health care services, such as hospitals, have experienced major improvements in
efficiencies around key targets such as waiting times is a feature of
screening opportunities
cost innovation
innovation in meeting social needs
forced analogy
radical innovation
Providing customisation to value customers together with selling high-end products at

mass-market prices are examples of
Customer satisfaction
Cost innovation
Mass marketing
Technical innovation
Process needs

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Which of the following would not normally be considered a radical innovation?

The jet turbine engine
Integrated circuits
Increased colour choice on the Volkswagen 'Beetle' car
Antibiotic drugs
None of the listed options
Zara's (fashion store) how it has used innovation around design and "fast fashion" to create
new opportunities in a crowded and mature marketplace is an aspect of innovation known
as
improving operation
niche marketing
product differentiation
cost innovation
new ways of servicing existing markets
________________ is about making associations, often exploring round the edges of a

problem
Divergent thinking
Individual creativity
Marketing process
The context of success
Finding resources
Creativity is about
thinking skills
motivation
communication
none of the listed options
When people are intrinsically motivated at their workplace they work towards achieving:
a promotion
personal challenge
higher pay
all of the options listed
none of the options listed
One of the challenges in creativity is that it sometimes involves

seeing things differently
changing perspectives
breaking the rules

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During the innovation stage knowledge is further refined through

mind maps
networking
feasibility test
research testing
social networks
Political behaviour and groupthink are social pressures that can

Damper an individual's creativity
Enhance group creativity
Improves innovation output
Reduces conflicts
Assist with strategic innovation
Our ability to think in metaphors and to visualise is strongly linked to

creative personality
innovative logic
pattern strategy
right side of brain
incremental behaviour
2.
Innovation managers and practising entrepreneurs in large businesses have learned from
the world of experience that successful innovators
build dynamic capability
manage innovation as a process
understand different dimensions of innovation
Examples of changes in mental models are

Shifts to low-cost airlines, online insurance.
Online insurance, new holiday package
New jet ferry, a revised university degree
All of the listed options
…...begins with exploration of innovation space: where could we innovate and why would it

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be worth doing so?

Sources of innovation
Cost innovation
Entrepreneurialship
Strategic analysis
New product development
Knowledge-based innovations differ from all other innovations due to

The time they take
Their casualty rates
Their predictability
The multipurpose smartphone is an example for which type of innovation?

extension
duplication
synthesis
creative
Radical
Innovation can take many forms, all involving a change of some kind. Which of the following
is NOT a form of innovation?
Product (or service) innovation - changes in what is offered to the world
Price innovation - offering deals, price discounts and price competition
Process innovation - changes in the way offerings are created and delivered
Position innovation - changes in the context in which innovations are
launched
Economists generally share an agreement that ______________ accounts for a sizeable

proportion of economic growth.
Marketing
Scientific research
Mining
Innovation
Entrepreneurship
The action of making an association between two unlike things in order to obtain new

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insights is called
forced analogy.
attribute listing.
scenario thinking.
problem reversal.
brainstorming.
The minimum viable product is an approach for

Implementing innovation
Designing dynamic capabilities
Situational analysis
Tidying up an idea and building on their initial insight is known as

Problem reversal
Mind mapping
Validation
Positioning
Emotional attachment
Turning defeat into victory and figuring out what everybody else is not doing stimulates our
mind mapping
personality
motivation
creativity
knowledge
Knowledge constitutes the essence of _________ and is intrinsically related to the

creativity-innovation-entrepreneurship process.
abilities
skills
capabilities
Which of the following is not considered a component of creativity?

Creative thinking skills
Imagination
Knowledge
Motivation

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The right hemisphere of the brain deals with

recognising
rationality
association
facts
Dreams
In a SWOT analysis, an organisation's core competencies and competitive advantages

would be classified as
opportunities
strengths
weaknesses
threats
The global financial crisis was an example of what type of macro-environmental force?
Political.
Sociocultural.
Competitive.
Economic.
Technological
Working for the Aldi supermarket chain, you are very aware of the activities of your
company's competitors - Coles and Woolworths - and find that you frequently make
changes to your business in response to actions they have taken. You also notice that they
react when you make changes to your business offering. This competition is occurring
within the
micro-environment
the competitive-environment
the macro-environment
As the recently appointed marketing manager for a growing fashion brand, you spend your
first few months in the job understanding the business, your competitors businesses and the
marketing environment. The comprehensive understanding you are engaged in is known as
marketing planning
the competitive analysis
company analysis

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market potential analysis
The marketing department of a large retail company assesses their current situation in order
to clearly state where the company is now. This is an example of the company
conducting a situational analysis
performing marketing planning
deciding organisational objectives
conducting an organisational analysis
assessing past strategies
The rising use of social networking sites could be attributed to

competitive forces
international forces
legal forces
economic forces
In an attempt to overcome legal regulations, an industry body may attempt to influence

which aspect of its marketing environment?
Sociocultural
Political
Competitive
Economic
all of the listed option
A degree in Marketing will qualify you for a job in which of the following organisations?
Governments
Not-for-profit organisations
Multinational organisations
Large organisations
Customers for not-for-profit organisations or social marketers are known as

consumers
targets
clients
agents
Marketing is considered to be
a learning process
a science

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an art
Strengths are the attributes of an organisation that

are internal factors that are able to be controlled
are internal factors that are not able to be controlled
are external factors that are able to be controlled
are external factors that are not able to be controlled
Cartwrights Law Firm spends time analysing the political, economic, sociocultural,
technological, environmental and legal factors which are affecting their organisation. These
factors form the _____________ environment?
macro
internal
micro
ethical
A market can best be described as

a group of customers with similar needs and wants
a group of customers with different needs and wants
a group of customers living in the same geographic area
a group of potential customers within a similar age range
a group of potential first time customers
3.
The issues, problems and difficulties with innovation is
Very easy to implement
A risky business by its nature
There are already many ideas
Costs a lot of money
Difficult to come up with creativity
Doing what we do better and creating opportunities are considered to be

Aspects of innovations
Marketing responsibilites
Disruptive innovations
Incremental creativities

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Innovation does not happen in a vacuum, the context of innovation is shaped by

a marketing plan
proactive links
influential shareholders
the size of the organisation
Which of the following would you NOT class as a radical innovation?

The fibre tip pen
The electric light bulb
The laser
The photocopier
According to Drucker, which of the following is not considered a source of innovation within
companies or industries?
industry and market changes
process needs
incongruities
perceptual change
unexpected occurrences
Situational analysis, together with the organisations objectives form the basis for developing
the marketing plan. Marketing plans are detailed documents; however, commonly, decision
makers only read which section?
The introduction
The marketing mix strategy
The executive summary
The conclusion and future recommendations
When using the PESTEL framework, marketers are investigating

internal forces
macro-environmental forces
micro-environmental forces
competitive forces
total market
Marketing metrics' underlying principles are that metrics should be linked to

organisational objectives
strategy

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market position
investment analysis
Which of the following would not be a part of an organisation's micro-environment?

Competitors
Suppliers
Customers
The economy
Retailers
An organisation recognising the ageing population and offering a seniors' discount for older
customers is most likely to be responding to
political forces
legal forces
Each year the Australian department store Myer holds a fashion parade as a public relations
event to launch the next season's fashion. Along with the media, they invite key
stakeholders such as their most valuable customers. These customers can best be
described as people who
purchase products for their own or someone else's use
actually use a purchased good or service
will potentially purchase a Myer product
have occasionally entered a Myer premises
You purchase a can of drink for a friend. This makes you a

consumer
customer and consume
partner
customer
Which of these is the aim of marketing?

To maximise profits for the business owners
To develop organisational goals
To develop mutually beneficial exchanges
To organise the various functions efficiently and effectively

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SWOT is short for

situation, weakness, opportunities and threats
strengths, weaknesses, opportunities and threats
situation, weaknesses, opportunities and threats
strengths, weakness, opposition and threats
strengths, weakness, openess and threats
Quantity of ideas is an important rule to follow in

new product development
product feasibility
brainstorming
market feasibility
Chinese thinker Lao Tzu philosophy maxims often expressed all behaviour consists of
greed
opposites
emotions
rewards
ideas
Which of the following is not considered a factor that influences creativity?

Encouragement of creativity
Autonomy
Resources
Pressures
Ensuring all the possible elements of a problem are examined is

validation
cost innovation
strategic implementation
attribute listing
building dynamic capability
Which of the following combinations best describes disruptive innovation?

experimentation; needs to be nurtured for long periods; creates new markets
immediate gains; based on disruptive technologies; develops customer
loyalty
steady improvements; based on sustained technologies; needs to be nurtured
for long periods

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can be rapidly implemented; based on sustained technologies; immediate

gains
The 'back-scratcher' approach works best in which of the following circumstances?

When target customers don't need and don't value all the performance that
can be packed into products, and when existing competitors don't focus on low-end
customs.
When customers are frustrated by their inability to get a job done, and
competitors are either fragmented or have a disability that prevents them from responding.
When customers are locked out of a market because they lack skills, access
or wealth. Competitors ignore initial developments because they take place in seemingly
unpromising markets.
None of the listed options.
All of the listed options.
Entrepreneurship can occur with little, if any,

Marketing
Innovation
Strategy
Resources
Creating effective networks, outsourcing and coordination of a virtual organisation is an

example of
Creating dynamic capability
Strategic advantage
Meeting social needs
Creating social value
Perceptual changes
Rethinking of services and meeting social needs are aspects of

positioning
innovation
disruptive creativity
identifying opportunities
incongruities
If innovation is only seen as associated with key individuals, it will

fail to utilise the creativity of the remainder employees
create the "not invented here" effect
produce the products that the market does not want

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create unprofitable outcomes for the firm

Which of the following is NOT an example of product innovation?

A new toothpaste
A new car design
A new version of the iPod
Computer-control of manufacturing operations
An organisation that outsources functions that can be done more efficiently by specialist
external providers is shifting those functions from
its micro environment to its macro environment
its internal environment to its micro environment
its internal environment to its macro environment
its macro environment to its micro environment
none of the options listed.
Factors that are beyond the organisation's direct control, though the organisation may be
able to have some influence over them, are
threats and weaknesses
weaknesses and opportunities
opportunities and threats
opportunities and strengths
strengths and weaknesses
As the marketing manager of Cadbury Chocolate in Australia, you regularly receive reports
on your products' brand equity, customer satisfaction, and market share data. These figures
are all examples of
marketing metrics
a situational analysis
marketing planning
an environmental analysis
the marketing environment
Internal marketing is practised through internal

communications
market research
training

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As part of their regular SWOT analysis, Dell computers reviews their strengths; the
attributes of Dell computers that
are internal factors that are able to be controlled
are internal factors that are not able to be controlled
are external factors that are able to be controlled
are external factors that are not able to be controlled
Marketing is viewed by many organisations largely as

an investment rather than as a cost
a sales function rather than as an investment
a cost centre rather than as a sales
a cost rather than as an investment
Which phase of the marketing process explains why car marketers, for example, would
access market insight reports from a market research company such as the Nielson
Company?
Understand
Create
Communicate
Deliver
Exchange
Value refers to
bargain pricing
economic benefit
total offering
competitive advantage
The successive stages of ideas generation, ideas evaluation and ideas implantation
can overlap
can be non-linear
can be rearranged
Diversity in network ties is essential for would-be entrepreneurs as it widens the scope of
information about
potential innovation
business locations

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assistance schemes
sources of capital
How many opportunities do not pass the product feasibility test because the innovation is
not genuinely novel, it cannot be patented or the entrepreneur does own the technology or
somebody else, somewhere else has already disclosed and/or patented it?
less than 25%
about 50%
more than 75%
95%
10%
A rule of thumb is that new technology should have at least _________ feature/s that
promise/s to be ten times better that its rivals.
three
one
five
two
four
Multiple resources around the problem and volume of ideas can

reduce a group s innovation
enhance group creativity
assist in innovation output
reduce conflicts
assist with strategic incubation
5. Occasional flashes of insperation and long periods of incremental improvements are

patterns for
building capabilities
strategic analysis
new product development
innovation
During the innovation stage knowledge is further refined through

mind maps
networking
feasibility test
research testing

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social networks
The term ______________ refers to somewhere between having too few and too many
constraints.
mental crisis
critical deviation
creative constraints
sweet spot
mental block
Creativity is the point of origination for innovation and entrepreneurship. It can produce of
new and ___________ works
useful
profitable
scalable
original
The creative process of mind map starts with the basic problem as the centre and
generates ________ in order to arrive at a large number of different approaches.
action plans
strategies
decisions
associations
With the development of infrastructure and technologies such as production lines,

businesses such as the Ford Motor Company focused on manufacturing large quantities of
goods, which they seemed to have no trouble selling. People were happy to buy what was
available. Which era of marketing does this description relate to?
Market
Production
Consumer
Sales
Socially responsible
Marketing is an approach to business that puts the __________ at the heart of business
decisions.
product
company
customer, client, partner and society
bottom line

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Employee
The level of consumer awareness of a company's product would be an example of which

marketing metric?
Brand equity
Return on investment
Customer satisfaction
Market share
Which of the following statements is correct?

The internal environment includes those factors that are not controllable by
the organisation
Weaknesses are internal factors that marketers cannot control in the medium
term
The internal environment includes factors that are controllable by the
organisation
The internal environment is always difficult to understand within large
organisations
An organisation or individuals involved in activities for creating, communicating and

delivering offerings for exchange are known as
intermediaries
agents
networks
partners
Marketing inherited the concept of exchange from

psychology
trade
science
ancient greece
Economics
Marketers use market research to understand consumer

motivation
abilities
opportunities to act

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Enterprises which survive do so because they are capable of

global innovation
cost innovation
strategic evaluation
focused change
perceptual changes
Plenty of evidence suggests that firms can and do learn to manage the process for success,
by building and developing their
Innovation capability
New product and service strategies
Technological innovation
Research creativity
Radical innovation
The 'bottleneck buster' approach works best in which of the following circumstances?
When target customers don't need and don't value all the performance that
can be packed into products, and when existing competitors don't focus on low-end
customs.
When customers are frustrated by their inability to get a job done, and
competitors are either fragmented or have a disability that prevents them from responding.
When customers are locked out of a market because they lack skills, access
or wealth. Competitors ignore initial developments because they take place in seemingly
unpromising markets.
All of the listed options.
None of the listed options.
Innovation can take many forms. Running a hospital booking system which reduces patient
waiting time is an example of which kind of innovation?
Process
Product
Position
Paradigm
Questions such as - what are we going to need? How will we get resources? are dealt with
in
strategic implementation
recognising opportunities
research dynamics
creating ongoing value

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social and intellectual occurrences
Which of these would NOT normally be considered an incremental innovation?

An electric car
A low fat hamburger
Faster train journeys through better signalling
Chicken and onion flavoured potato snacks
A 65 inch plasma television
Internal entrepreneurs are often called
Antrapreneurs
Intrapreneurs
Social leaders
Organisational mavericks
Risk takers
If innovation is only seen as a strong R&D capability, it will result in
lack the involvement of others
technology which fails to meet user needs and may not be accepted
becoming simply a matter of filling in shopping lists of needs
The action of viewing a problem from an opposite angle is called

forced analogy
attribute listing
scenario thinking
problem reversal
A good idea is ______ to start-up a business venture.

not enough
sufficient
essential
important
necessary
A business plan involves planning resources and developing a budget which is then
compared with sales projections to ascertain the true
competitive situation in the market place
market size that can be captured
level of positioning
number of product attributes

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If in doing a SWOT analysis an organisation identified that its retail store site was poorly
located, this would be an example of
a threat
an external factor that cannot be controlled by the organisation
a strength
a weakness
You decide to do a situational analysis, investigating all the internal and external forces that
affect your ability as a marketer to create, communicate, deliver and exchange offerings of
value. Which environment are you analysing?
The marketing environment
The macro environment
The legal environment
The sociocultural environment
Qantas understands that while creating, communicating, delivering and exchanging

offerings of value, as an organisation they can only control their
external environment
political environment
macro environment
Factors that are beyond the organisation's direct control, but require an effective response
by an organisation are
weaknesses
strengths and weaknesses
strengths
opportunities and strengths
threats
Creating an innovation strategy involves three key steps

process, position and ideas
creativity, innovation and entrepreneurship
analysis, selection and implementation
resources, venture and value
product, process and innovation

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Organisational overall objectives together with marketing objectives should be

Actionable
Reasonable
Timetabled
Specific

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Assignment 1: Knowledge test 1

Enterprise Innovation and markets (Western Sydney University)

Studocu is not sponsored or endorsed by any college or university

Successful businesses in the late 1900's were those that adopted a

Customers are a part of an organisation's _____________environment.

Marketing theories draw on many other disciplines including

The marketing process cycle is

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

based on competitors activities

Which of the following is not a part of an organisation's external environment?

Marketing metrics are measures that are used to

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

Which of the following is part of an organisation's marketing environment?

_______________ is considered as the purpose for innovation, whether expressed in growth,

Turning niches into mass markets is an example of

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

Which of the following combinations best describes incremental innovation?

Which of the following is not considered a type of incremental innovation?

Providing customisation to value customers together with selling high-end products at

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

Which of the following would not normally be considered a radical innovation?

________________ is about making associations, often exploring round the edges of a

One of the challenges in creativity is that it sometimes involves

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

none of the listed options

During the innovation stage knowledge is further refined through

Political behaviour and groupthink are social pressures that can

Our ability to think in metaphors and to visualise is strongly linked to

Examples of changes in mental models are

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

be worth doing so?

Knowledge-based innovations differ from all other innovations due to

The multipurpose smartphone is an example for which type of innovation?

Economists generally share an agreement that ______________ accounts for a sizeable

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

The minimum viable product is an approach for

Tidying up an idea and building on their initial insight is known as

Knowledge constitutes the essence of _________ and is intrinsically related to the

Which of the following is not considered a component of creativity?

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

The right hemisphere of the brain deals with

In a SWOT analysis, an organisation's core competencies and competitive advantages

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

market potential analysis

The rising use of social networking sites could be attributed to

In an attempt to overcome legal regulations, an industry body may attempt to influence

Customers for not-for-profit organisations or social marketers are known as

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

Strengths are the attributes of an organisation that

A market can best be described as

Doing what we do better and creating opportunities are considered to be

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

Innovation does not happen in a vacuum, the context of innovation is shaped by

Which of the following would you NOT class as a radical innovation?

When using the PESTEL framework, marketers are investigating

Marketing metrics' underlying principles are that metrics should be linked to

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

Which of the following would not be a part of an organisation's micro-environment?

You purchase a can of drink for a friend. This makes you a

Which of these is the aim of marketing?

Downloaded by Nhi Le Thi Mai (31211021992@student.isb.edu.vn)

SWOT is short for