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Q:
The unauthorized production of goods that are protected by trademark, copyright, or patent is known as near brand usage.
Q:
A new product whose raw materials are scarce or hard to get does not fall under the ambit of an environmentally unsustainable product.
Q:
One of the key defenses available to a manufacturer in the case of a product liability suit is assumption of risk by a product user.
Q:
The concept of strict liability requires proof that a direct sale from the manufacturer to the injured user took place.
Q:
An implied warranty is any statement of fact made by the manufacturer about a product, whether made by salespeople, retailers, or others.
Q:
In a product liability suit, lack of privity as a defense against negligence is acceptable.
Q:
A firm may produce an acceptable product but may still get into trouble if it fails to provide adequate instructions for use or warnings against particular uses.
Q:
A hair dryer lacking an overheat cutoff switch is an example of a product with inherent risk.
Q:
Historically, product liability applied to goods, not services, and there have been many lost attempts to extend the law to cover services.
Q:
Business firms deal with public policy issues that are restricted to just new products.
Q:
New regulatory legislation is often precise and made exclusively to prevent a period of jockeying among adversaries.
Q:
Unexpected low sales for a new product typically triggers automatic, corrective contingency plans.
Q:
A launch management system must have an effective tracking system with trigger points to activate contingency plans.
Q:
The first step in a launch management system is to develop a contingency plan.
Q:
If a product's market window of profitability is shorter than expected, this may indicate a turning point in the life cycle and may require strategic thinking for the next product put into development.
Q:
Discuss the revenue opportunities a firm may have if a product or product line is discontinued.
Q:
Briefly discuss the use of social media metrics in launch management.
Q:
What are the three essentials involved in applying the tracking concept to new products?
Q:
Discuss the various methods of identifying potential problems during launch management.
Q:
In the context of a new product launch, briefly describe the five major areas in the gap analysis matrix that can be measured and compared to expected plan.
Q:
In which of the following stages of a product deletion process does a firm consider the full effects of the deletion on its overheads, expenses, and capacity utilization?
A. Product recognition stage
B. Implementation stage
C. Evaluation and decision formulation stage
D. Analysis and revitalization stage
Q:
In the first step of a product deletion process, a firm must:
A. explores ways by which the viability of the product might be restored through quality or price adjustments.
B. compare the performance of the product against certain criteria and guideposts.
C. evaluate the full effect of the deletion on overheads, expenses, and capacity utilization.
D. decide whether the product is to be deleted immediately, milked, or sold out.
Q:
If the market situation for a product in decline is particularly difficult and solutions lie only in longer-time product changes, the most appropriate thing will be to:
A. pull out the product permanently from the market.
B. increase all promotion and personal selling.
C. hold the market in a freeze until a solution is found.
D. increase production to flood markets for greater visibility.
Q:
Which of the following is NOT true of occasional products?
A. They require advertising and personal selling expenditures to build immediate sales.
B. Production is contracted out if possible for such products.
C. Prices are held steady for such products.
D. They have greater need for launch management than other regular products.
Q:
Which of the following is least likely to need a launch management plan?
A. Industrial commodities
B. Fad products
C. Agricultural commodities
D. Health care services
Q:
Which of the following statements is true regarding the launch management for temporary products?
A. Production is contracted out if possible.
B. Follow-on products need to be scheduled.
C. Long-term service facilities need to be built.
D. Prices are gradually increased.
Q:
Which of the following statements is true about an After Action Review (AAR)?
A. It essentially involves managers moving around the market to find if problems are coming about, and then planning what will be done if they are.
B. It is limited to the top management as they are the only ones who have direct experience with the entire product development cycle.
C. It need not be terribly formal, in some cases a couple of individuals meeting briefly after a customer visit might suffice.
D. It fails to identify weak areas in a firm's product development processes that need to be fixed.
Q:
Which of the following statements is NOT true about an After Action Review (AAR)?
A. Its goal is to identify what went right and what went wrong in product development.
B. It includes statements of planned objectives and actual results.
C. It is limited to the top management as they are the only ones who have direct experience with the entire product development cycle.
D. It includes a statement of what has been learned in a product launch, and an outline for the next steps.
Q:
A(n) _____ is designed to capture the events leading up to a product launch and to try to understand the thinking behind the actions taken.
A. After Action Review (AAR)
B. A-T-A-R model
C. expected effects matrix
D. hierarchy of events matrix
Q:
In launch management, when the potential customers of a new product are not making trial purchases of the product, then tracking is most likely to be done by:
A. inquiring among the firm's suppliers and media.
B. withdrawing the product from the market.
C. watching the moves of a chief competitor closely and imitating the same strategy to firm's benefit.
D. instituting a series of follow-up telephone calls to prospects who have received sales presentations.
Q:
In the context of launch management, eyeball control refers to:
A. starting with a satisfied customer and working back from that satisfaction to determine the hierarchy of effects necessary to produce it.
B. externally validating the performance metrics that are used to evaluate a firm's new products process.
C. capturing the events leading up to the product launch and then trying to understand the thinking behind the actions taken.
D. moving around the market to find if problems are coming about, and then planning what will be done if they are.
Q:
Which of the following problems in launch management is most likely to be untrackable and requires a firm's management to inquire among suppliers and media?
A. Chief competitor has the same new product feature for which the firm has no patent.
B. Buyers make trial purchases but do not place quantity orders.
C. Potential customers are not making trial purchases of the new product.
D. Salespeople fail to contact general-purpose market at prescribed rate.
Q:
Which of the following statements is true of metrics for innovation?
A. It is not an effective practice to get external validation for performance metrics.
B. Performance metrics need to be adjusted and fine-tuned through time, so that they are aligned with business goals.
C. In the recent times, there has been a drastic decline in the use of social media metrics in launch management.
D. The fewer the performance metrics, the greater the conflict between themselves.
Q:
In an innovation dashboard, return on investment in innovation is a(n):
A. procedural efficiency metric.
B. process metric.
C. innovation input metric.
D. performance metric.
Q:
In an innovation dashboard, metrics for performance outcomes includes:
A. average time taken to market new products.
B. number of employees devoted to innovation.
C. percentage of sales derived from new products.
D. number of patents filed by a firm.
Q:
In an innovation dashboard, process metrics includes:
A. percent of projects that result in a launch.
B. number of new product ideas in pipeline.
C. percent of new product ideas sourced from outside the firm.
D. number of employees devoted to innovation.
Q:
Which of the following is an input metric in an innovation dashboard?
A. Percent of projects that result in a launch
B. Percent of new product ideas sourced from outside the firm
C. Number of patents filed and commercialized
D. Return on investment in innovation
Q:
In the context of innovation dashboard, number of patents filed by a firm is a metric for:
A. innovation inputs.
B. process effectiveness.
C. performance outcomes.
D. research efficiency.
Q:
A(n) _____ establishes performance metrics for innovation inputs, process effectiveness, and performance outcomes.
A. outcome development matrix
B. expected progress matrix
C. performance power grid
D. innovation dashboard
Q:
The final step in the launch management system is:
A. selecting potential problems to control.
B. selecting the trigger points.
C. developing contingency plans.
D. ranking and controlling potential problems.
Q:
In a new product launch, when there is a problem that cannot be tracked because the firm cannot find a variable for it, typically the management should:
A. watch sales.
B. withdraw the product permanently from the market.
C. limit the involvement of salespeople and distributors during post-launch.
D. apply an expected effects matrix to find a solution.
Q:
In launch management, it is important to select relevant, measurable, and predictable tracking variables essentially because they:
A. make contingency plans foolproof.
B. warn that a problem is coming about.
C. help track the new product in its supply chain.
D. help measure the success of contingency plans.
Q:
In launch management, tracking variables should be relevant, measurable, and _____.
A. endogenous
B. controllable
C. predictable
D. continuous
Q:
When designing a tracking system in launch management, a tracking variable is considered _____ if it identifies the key problem.
A. measurable
B. continuous
C. relevant
D. controllable
Q:
In the launch management of a new product, a tracking system is designed to:
A. tell the firm when to implement the contingency plans.
B. identify potential problems.
C. reduce the problem list to a size the firm can handle and control.
D. track the movement of the product from the manufacturing unit to the shipping dock.
Q:
Today, in new products management, development ends:
A. with the creation and testing of a final prototype.
B. with the launch of the new product.
C. when a product has performed satisfactorily in the hands of the end user.
D. when the product arrives at the shipping dock.
Q:
The hierarchy of effects is one of the methods used for identifying potential problems in the launch management of a new product. Which of the following statements is true regarding this method?
A. It tries to predict competitors' reactions after they have heard of the new product.
B. It involves going through all the data accumulated in the new product's file.
C. It starts with a satisfied customer and works back from that satisfaction to identify the effects necessary to produce it.
D. It involves asking channel partners to predict the potential problems and their effects on the launch of the new product.
Q:
In the launch management of a new product, once the identified problems are reduced to a size a firm can handle, the next step would be:
A. developing contingency plans.
B. designing a tracking system.
C. conducting situation analysis.
D. recording competitors' reactions.
Q:
In the expected effects matrix, those problems placed in the bottom/right cell:
A. should be taken care of immediately.
B. are alert variables that must be watched closely.
C. can be safely ignored.
D. are control variables that require contingency planning and tracking, if possible.
Q:
According to the expected effects matrix, devastating events having a low likelihood of occurrence:
A. must be dealt with immediately.
B. are alert variables that must be watched closely.
C. can be safely ignored.
D. are control variables that require contingency planning and tracking.
Q:
In launch management, firms may best select problems for control by using the:
A. hierarchy of effects model.
B. Boston matrix.
C. expected effects matrix.
D. perceptual mapping model.
Q:
With reference to the expected effects matrix, which of the following problems represents control variables that require contingency planning and tracking, if possible?
A. Noticeable events with low likelihood of occurrence
B. Harmful events with low likelihood of occurrence
C. Noticeable events with moderate likelihood of occurrence
D. Harmful events with high likelihood of occurrence
Q:
Which of the following methods can be used to reduce the list of problems, identified in the first step of launch management, based on the potential damage and the likelihood of occurrence?
A. Expected effects matrix
B. Situation analysis
C. Cumulative expenditures curve
D. Hierarchy of effects model
Q:
Which of the following methods can be used to spot potential problems during the launch management of a new product?
A. Hierarchy of effects model
B. After Action Review
C. Product life cycle analysis
D. Cumulative expenditures curve
Q:
The second step in a launch management system for a new product involves:
A. reducing the list of potential problems to a controllable number.
B. designing an effective tracking system.
C. developing contingency plans.
D. identifying potential problems using situation analysis.
Q:
Abandonment of a product marks the end of a launch manager's job.
Q:
Once a product or product line is discontinued, it holds no revenue opportunities for the firm.
Q:
Generally, the easiest products to shut down are new-to-the-world product projects.
Q:
The final step in the product deletion process involves determining whether the deletion would leave a major hole in the firm's product line.
Q:
It is an ineffective practice to contract out the production of temporary products.
Q:
In principle, launch management plans of large and small firms are exactly the sameproblem, tracking variable, trigger point, and remedial plan ready to go.
Q:
In an innovation dashboard, process effectiveness metrics include R&D spending.
Q:
In launch management of new products, a tracking variable is relevant if it identifies the key problem.
Q:
The toughest part of a product's launch management is developing a situation analysis.
Q:
With reference to the expected effects matrix, noticeable events with moderate likelihood of occurrence must be dealt with immediately.
Q:
The development of a new product ends when the item arrives at the shipping dock.
Q:
Discuss the pros and cons of using a rollout as a market testing tool.
Q:
Describe direct marketing and minimarkets as methods of market testing and list their advantages.
Q:
Discuss the various problems associated with simulated test markets.
Q:
What are the costs involved in market testing?
Q:
What are the two important insights that can be gained from market testing?
Q:
A firm desiring to use two or more market testing techniques for a new product is most likely to begin with a _____ method.
A. pseudo sale
B. controlled sale
C. trial sale
D. full sale
Q:
Which of the following is an advantage of the pseudo sale market testing method?
A. It results in actual cash sales.
B. It is cheap and quick.
C. It is intended to test a product in a real competitive environment.
D. It provides the best sales forecast when compared to other test methods.
Q:
A rollout when compared to test marketing:
A. fails to provide as much market-related data.
B. gives competitors more time to beat the testing firm to national market.
C. allows the testing firm to minimize losses in case of failure.
D. requires more time to go national.
Q:
Which of the following statements is true regarding rollout?
A. Rollout is sometimes called speculative sale.
B. The knowledge obtained from rollout is significantly less than that obtained from test marketing.
C. The rollout method for market testing falls under the pseudo sale technique.
D. Today rollout is increasingly replacing test marketing.
Q:
Which of the following market testing methods is sometimes called tiered marketing?
A. Rollout
B. Speculative sale
C. Simulated test marketing
D. Informal selling
Q:
Which of the following is a drawback of test marketing?
A. Test marketing cannot be applied to test industrial goods and services.
B. Test marketing results are not really projectable.
C. Test marketing does not permit for verifying production.
D. Test marketing involves mathematical complexities.
Q:
Which of the following is an advantage of using test marketing?
A. It is the most economical market testing method for a new product.
B. It provides the best sales forecast and the best evaluation of alternative marketing strategies.
C. It reduces the risk for test marketers because its forecasts are highly projectable.
D. It is the most reliable method because it helps maintain confidentiality more than any other test methods.
Q:
Today, companies primarily use test marketing to:
A. simulate real competitive environment using laboratory experiments.
B. improve and make adjustments in their marketing plans.
C. help decide whether to go national.
D. test a product idea by asking customers if they would buy the actual product.
Q:
When compared to other test methods, test marketing:
A. provides results that are highly projectable.
B. allows marketers to have greater control over all environmental factors.
C. provides the most abundant supply of information.
D. requires lower costs and is time saving.