Question 5 While the platform concept works well for physical products, it canno
ID: 395164 • Letter: Q
Question
Question 5
While the platform concept works well for physical products, it cannot be successfully used for services or brands.
True
False
Question 6
The strategy of adapting/improving the firm's own—or a competitive—product is by far the most common form of "innovation" because it involves no, risk.
True
False
Question 7
The _____ test is used to determine if the intended user really needs the proposed item.
Feasibility
Concept
Product use
Purchase
Question 8
The _____ test is used to determine if the proposed product actually meets customer needs.
Concept
Product use
Market
Sales
Question 9
Which of the following is MOST likely to obsolete successful existing products or product categories?
New-to-the-firm products
New-to-the-world products
Repositioned
Line extensions
Question 10
P&G's Tide Liquid detergent, Apple's iMac and Hewlett-Packard's LaserJet 7P are examples of
Line extensions
New-to-the-firm products
New-to-the-world products
Product innovations
Explanation / Answer
Question 5)
TRUE
In a platform concept, based on the customer needs , technical requirements of the base platform to be used for the physical products is decided and product is build on it. Whereas for services or brands, defining such requirements is not possible.
Question 6)
TRUE
When an existing product is improvised, it can be considered as an incremental innovation. As the improved is better than the previous one , customers would prefer the new product more. The probability of acceptance of an improved version of an old product is more than that of a totally new product. Therefore, there is no or very little risk in introducing an improved version of an already existing product.
Question7)
Concept test
In the concept test, through the surveys, interviews etc. customer acceptance is checked before the actual launch of the product
Question 8)
Product use
In the product use test, customers use the product and give feedback before the launch. Based on the feedback one can evaluate the performance of the product
Question 9)
New to the world products.
New products launched could be totally disruptive.
Other three options mentioned are all decisions taken by the same firm and they take decisions in a way that their successful products won’t be affected.
Question 10)
Product innovations
They are different versions of already existing products which cater to a different need.
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