Question 1 Relying on customer feedback is: always important most important when

Question

Question 1
  Relying on customer feedback is:

  always important
  most important when developing radical innovations
  most important in turbulent markets
  most important when developing incremental innovations
  most important when competitive intensity is low

   Question 2  
  %u201CTechnology push%u201D refers to those situations in which:

  the product is released early to innovators
  technological uncertainty prevents the product%u2019s release
  the target market is a well defined group of %u201Ctechies%u201D
  the product is vulnerable to obsolescence
  R&D is the prime mover behind innovation and marketing efforts

   Question 3
  Responsiveness to market intelligence involves all of the following except:

  selection of target markets
  development of products/services that address customer needs
  positioning products in a way that produces both customer satisfaction and customer loyalty
  commitment to execution
  providing feedback to customers

   Question 4
  The Kano concept:

  is a planning approach that links customer requirements, competitive data, and design parameters
  uses the voice of the customer to ensure a tight correlation between customer needs and product design specifications
  is a graphical representation between types of product attributes and levels of customer satisfaction (dissatisfaction)
  reduces design time by 40 percent and design costs by 60 percent
  identifies the types of attributes that must be present in order to ensure the product is functional
   Question 5
  Technology enthusiasts are also known as:

  geeks
  early adopters
  innovators
  technovators
  risk-takers
   Question 6
  To be successful, small high-tech companies must:

  have access to substantial capital
  be more flexible than their larger competitors
  have patent protection
  engage in expeditionary marketing
  be market pioneers
   Question 7
  ___________ should perform observational studies.

  cross disciplinary teams
  anthropologists
  product development engineers
  marketing researchers
  product managers
   Question 8  
  All of the following are characteristics of incremental innovation, except:

  R&D invention in the lab
  extension of existing product or process
  firms use standard marketing research tools
  product characteristics well defined
  customer pull
   Question 9  
  Which of the following is most useful for developing information that might lead to breakthrough products?

  survey research
  focus groups
  conjoint studies
  customer visit programs
  concept tests
   Question 10  
  ___________ are the costs incurred by a customer that makes it costly or risky to change to a competing vendor%u2019s products.

  transaction costs
  transfer costs
  loyalty costs
  conversion costs
  switching costs
   Question 11  
  What are the stages in the purchase process?

  problem recognition, information search, alternative evaluation, purchase decision, post-purchase dissonance
  problem recognition, information search, alternative evaluation, purchase decision, post-purchase evaluation
  SWOT analysis, information search, alternative evaluation, purchase decision, post-purchase evaluation
  problem recognition, information search, purchase decision, post-purchase evaluation
  problem recognition, criteria definition, information search, alternative evaluation, purchase decision, post-purchase evaluation
   Question 12  
  With respect to radical and incremental innovation, which of the following is true?

  incremental innovations deal specifically with high-tech products
  radical innovations are extensions of existing products
  radical innovations are characterized as demand-driven markets
  each type of innovation requires a different type of marketing strategy to be successful in the marketplace
  %u201Cshadow%u201D products are viewed by customers as radical and by suppliers as incremental
   Question 13  
  ___________ are the set of skills at which a company excels.

  managerial experiences
  innovative strategies
  core competencies
  intangibles
  technologies
   Question 14  
  Which of the following is not an organizational barrier to being market-oriented?

  people%u2019s tendency to hoard information
  core rigidities within the firm that lead to discounting customer feedback
  ) the tyranny of the served market
  ) customers%u2019 natural inability to envision new technological solutions
  ) none of the above (in other words, a%u2013d are all organizational barriers to being market-oriented)
   Question 15  
  The starting point for strategic market planning is:

  identification of opportunities
  definition of mission and goals
  identification of markets in which the firm will compete
  definition of the profit dynamic
  SWOT analysis
   Question 16  
  Competitor analysis should focus on:

  direct competitors
  the entire industry
  the focal industry and related industries
  capturing primary data about current and potential competitors
  all of the above
   Question 17  
  The notion of cycle time excellence suggests that:

  firms should strive for the most sophisticated combination of attributes when designing technological breakthroughs, because the first adopters of new technology are the most technologically sophisticated
  companies trade off cycle time against costs (in other words, faster cycles times are typically more costly)
  companies that focus on cycle time excellence may find that competitors have beat them to market
  companies trade off cycle time against customer switching costs (in other words, by getting to the market quickly, customers face lower switching costs)
  companies may initially develop a product with a relatively basic combination of attributes in order to reach the market quickly; this initial product is then followed up with more sophisticated models
   Question 18  
  A migration path:

  is an element of the bowling alley strategy
  starts with the beachhead
  helps the customer transition between product generations
  should be based on incremental improvements
  all of the above
   Question 19
  Strategy innovation is primarily concerned with:

  the strategic market planning process
  bringing a unique perspective to customer value creation
  developing innovative products
  entering new markets
  bringing new voices into the strategy formation process
   Question 20

  Which of the following is not a particularly useful process for idea generation?

  surveys
  observations
  brainstorming
  focus groups
  depth interviews
   Question 21  
  Addressing disagreements in a way that allows for both partners to have a stake in the outcome, addresses both partners%u2019 needs simultaneously, and is mutually beneficial to both, is the definition of ___________.

  co-optation
  complementarity
  a horizontal alliance
  corporate governance
  integrative conflict resolution
   Question 22  
  Which of the following is not identified as an insight from empathic design?

  work-arounds, or ways that users have developed to cope with imperfect situations
  ways in which users have customized the product to their own needs
  unique usage situations for the product
  identification of what the high-tech company is technologically capable of delivering
  circumstances that prompt people to use a product or service
   Question 23  
  Hewlett-Packard and Kodak jointly pursuing the digital photography market is an example of:

  relationship marketing
  a vertical partnership
  a complementary alliance
  a merger
  early supplier involvement
   Question 24  
  In ___________ technology is a rapidly depreciating resource.

  turbulent markets
  slow-cycle industries
  fast-cycle industries
  B-to-B markets
  B-to-C markets
   


  

Explanation / Answer

always important

the product is vulnerable to obsolescence

commitment to execution

is a planning approach that links customer requirements, competitive data, and design parameters

technovators

have access to substantial capital

marketing researchers

R&D invention in the lab

concept tests

transaction costs

problem recognition, information search, alternative evaluation, purchase decision, post-purchase dissonance

each type of innovation requires a different type of marketing strategy to be successful in the marketplace

innovative strategies

customers%u2019 natural inability to envision new technological solutions

identification of opportunities

direct competitors

companies trade off cycle time against customer switching costs (in other words, by getting to the market quickly, customers face lower switching costs)

helps the customer transition between product generations

the strategic market planning process

brainstorming

corporate governance

work-arounds, or ways that users have developed to cope with imperfect situations

a complementary alliance
slow-cycle industries

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