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Q:
What is a product protocol?
Q:
Protocols created by _____ are most likely to be accepted and successful.
A. marketing specialists
B. multifunctional new products teams
C. the top management
D. technical teams
Q:
The protocol process is difficult because:
A. it is remarkably simple and therefore vague.
B. all the key individuals involved are the same.
C. the management does not exert the pressure necessary for important projects.
D. it is fraught with politics.
Q:
Which of the following types of firms are most likely to question the need of utilizing quality function deployment (QFD)?
A. Consumer-goods firms
B. Industrial product developers
C. Home appliances firms
D. Firms in the packaged food industry
Q:
In the House of Quality (HOQ) approach, customers' needs are converted into _____.
A. product functions
B. process operations
C. technical specifications
D. product prices
Q:
Engineering characteristics and customer attributes are part of the _____.
A. VOC grid
B. HOQ grid
C. PLC grid
D. TQM grid
Q:
____ is a tool of project control invented by the Japanese automobile industry that can lead to reduced design time and costs, and more efficient communication between project team members from functional areas.
A. Voice of the customer
B. Critical path method
C. Business Process Modeling
D. Quality function deployment
Q:
_____ has been defined as a complete set of customer wants and needs, expressed in the customer's own language, organized the way the customer thinks about, uses, and interacts with the product, and prioritized by the customer in terms of both importance and performance.
A. Target market
B. Voice of the customer
C. Product positioning
D. Product protocol
Q:
Plants to be built and quality to be achieved is associated with which of the following components of a product protocol?
A. Production
B. Financials
C. Regulatory requirements
D. Corporate strategy requirements
Q:
When an automobile manufacturer makes a statement, "The car, using the new German 11-Z4 engine, must accelerate from 0 to 60 miles per hour in 8 seconds," he is expressing a product function in terms of a(n) _____.
A. design parameter
B. embedded feature
C. cost benefit
D. tangible feature
Q:
Technical people often come up with _____ for a new product first, based on technologies they have.
A. prices
B. features
C. functions
D. benefits
Q:
Protocols for services are most likely to be stated in _____.
A. design terms
B. terms of features
C. performance terms
D. terms of functions
Q:
Marketers may describe functions in a product protocol as _____.
A. performance parameters
B. accrued benefits
C. embedded features
D. product features
Q:
Performance specs or performance parameters are often used by marketers to define products and relate to the product attribute of _____.
A. feature
B. function
C. benefit
D. tangibility
Q:
An advantage of specifying the protocol in terms of _____ is that it places no constraints on the R&D staff: They are given free rein to figure out how best to design the product so that it provides the desired advantage.
A. benefits
B. features
C. price
D. functions
Q:
Which of the following best defines a product?
A. The target market of the product
B. The positioning of the product
C. The marketing plan of the product
D. The attributes of the product
Q:
Lasol Co., a manufacturer of instant foods, publishes an advertisement in the newspaper that reads, "Just add hot water and have your Lasol Curry Noodles ready in minutes!" Which of the following product attributes is Lasol focusing on in its advertisement?
A. Feature
B. Price
C. Function
D. Benefit
Q:
Merrill-Dow's advertisement, "The new bulk laxative will dissolve completely in a four-ounce glass of water in 10 seconds," refers to which of the following product attributes?
A. Feature
B. Price
C. Benefit
D. Function
Q:
_____ are the most desirable form of product attributes for a protocol to use.
A. Features
B. Traits
C. Benefits
D. Functions
Q:
Which of the following is a difference between function and feature?
A. A function refers to how an item will work, while a feature refers to what an item is.
B. A function is linked to a product, while a feature is linked to a service.
C. A function is a product attribute, while a feature is not.
D. A function adds value to a product, while a feature does not.
Q:
Product positioning can be facilitated to a large extent by _____, which provides key information on desirable positioning options for products.
A. the decay curve
B. concept testing activities
C. R&D activities
D. the risk or payoff matrix
Q:
Esqua Inc., a manufacturer of soaps and shampoos, claims that its latest brand of soaps, Esqua Plus, is superior to the average soap brand because, unlike other soaps, Esqua Plus combines both antibacterial and moisturizing properties and offers longer-lasting deodorant protection. In this scenario, which of the following concepts is Esqua using to encourage its customers to try its products?
A. Product positioning
B. Product testing
C. Product diversification
D. Product innovation
Q:
A product concept that originated in the advertising world that essentially says, "Product X is better for your use than other products because." is known as:
A. product positioning.
B. product innovation.
C. wildcatting.
D. product testing.
Q:
The attempt to explain to a consumer why a specific product is the best choice for the solution to a specified problem is known as _____.
A. product validation
B. product positioning
C. product diversification
D. product testing
Q:
The protocol statement clearly defines a firm's _____, which is a specific group of consumers having specific problems the firm hopes to solve at a profit for itself.
A. focus group
B. target market
C. core group
D. augmented market
Q:
New product projects that bet on a technology that has not yet been shown to work or just bet on a scientist with a good track record for coming up with saleable new products are said to be _____.
A. prospecting
B. probing
C. wildcatting
D. researching
Q:
Which of the following is true of a product protocol?
A. It diversifies the actions of all the players involved.
B. It is associated with the finance department of a firm.
C. It gives all the players their target to shoot for.
D. It is more than what will exist when the first prototype appears.
Q:
A product protocol:
A. is more than what will exist when the first prototype appears.
B. is the final step in the evolution of a concept.
C. remains consistent from market segment to market segment.
D. permits a development process to be managed.
Q:
Which of the following is true of a product protocol?
A. The product protocol is less than what will exist when the first prototype appears.
B. The product protocol is the final step in the evolution of a concept.
C. The product protocol remains consistent from market segment to market segment.
D. The departments of a company do not have to depend on a product protocol to begin their work.
Q:
The first general purpose of a product protocol is to:
A. identify the target audience and the benefits offered to them.
B. specify whether the offering is a tangible product or an intangible service.
C. ensure that all tax payments with regard to the product are paid on time.
D. specify what each department will deliver to the final product that the customer buys.
Q:
Consumers and end-users tend to purchase:
A. only product protocols.
B. only core benefits.
C. formal products.
D. fully augmented products.
Q:
Which of the following is true of the Oobeya Room technique?
A. The Oobeya Room technique is conceptually very different from the idea of the product protocol.
B. The Oobeya Room technique isolates functional areas and compels them to function autonomously.
C. The Oobeya Room technique is ineffective in overcoming challenges and doesn't give team members the choice of working together.
D. The Oobeya Room technique is used to get cooperation across functional areas and to focus the team.
Q:
_____ is a technique used by Toyota to get cooperation across functional areas, to speed up integration, and to focus the team.
A. Wildcatting
B. The Oobeya Room
C. Preference mapping
D. The Kaizen technique
Q:
Which of the following is true of a product protocol?
A. In a product protocol, the negotiating parties are the functionsmarketing, technical, operations, and others.
B. A product protocol is a completely informal agreement that is based on negotiations that are adversarial in nature.
C. Only a few members of the multifunctional team involved in a project are responsible for writing the product protocol.
D. A product protocol includes a set of guidelines that deals with tax payments and other formalities.
Q:
Leading product innovators use a type of ____ system instead of following the relay race model.
A. non-repetitive
B. sequential
C. concurrent
D. linear
Q:
A _____ system is one in which all of the players begin working, doing as much as they can at any time as the project rolls along.
A. linear
B. sequential
C. concurrent
D. non repetitive
Q:
The protocol process is an aid to management, not a substitute for thinking.
Q:
Quality function deployment (QFD) has been called "matrix hell" as a result of its massive data requirements, its complexity, and its tendency to raise conflicts that are difficult, if not impossible, to solve.
Q:
In the house of quality (HOQ) approach, customer's needs are converted to the price of the product.
Q:
In practice, the first step of quality function deployment (QFD) is the house of quality (HOQ).
Q:
Quality function deployment (QFD) was invented in the Japanese automobile industry years ago as a tool of project control.
Q:
Since product protocols are marketing tools, they should not include production or regulatory requirements.
Q:
A company's success is assured if a product is developed in response to consumer's demands for specific features.
Q:
Features are the most desirable form of product attributes for a protocol to use.
Q:
New product projects that use well-known and well-established technologies for product improvements are said to be "wildcatting."
Q:
New products managers should focus only on the formal product.
Q:
If done right, a product protocol gives requirements in words that can usually be measured and thus permits a development process to be managed.
Q:
The product protocol communicates essentials to all of the players, helps lead them into integrated actions, helps direct outcomes that are consistent with the full screen and financials, and gives all players their targets to shoot for.
Q:
A good product protocol can help cut development time and accelerate the time to market by providing better product definition.
Q:
The purpose of a protocol remains constant irrespective of the market segment and time.
Q:
The leading product innovators follow the relay race model.
Q:
Explain the top-down and bottom-up approaches to strategy development.
Q:
Discuss any four ways in which dependence on poor forecasts can be reduced.
Q:
Summarize the problems associated with forecasting.
Q:
Discuss the Bass diffusion model.
Q:
What are some of the considerations to keep in mind when developing sales-forecast?
Q:
According to the Hoechst-U.S. scoring model, which of the following factors is based on financial criterion?
A. Probability of technical success
B. Business-strategy fit
C. Strategic leverage
D. Reward
Q:
According to the Hoechst-U.S. scoring model, which of the following is a full-screen feasibility factor?
A. Probability of technical success
B. Business-strategy fit
C. Strategic leverage
D. Reward
Q:
According to the Hoechst-U.S. scoring model, which of the following is a factor related to the firm's product innovation charter (PIC)?
A. Probability of technical success
B. Probability of commercial success
C. Reward
D. Strategic leverage
Q:
Firms that build strategic criteria into their project selection tools are using a _____ strategic approach.
A. top-down
B. top-two-boxes
C. market testing
D. bottom-up
Q:
Under the _____, the firm or SBU lays out a strategy, and then allocates funds across different kinds of projects.
A. top-down strategic approach
B. top-two-boxes approach
C. market testing approach
D. bottom-up strategic approach
Q:
Which of the following is true of top-performing firms?
A. They only use the bottom-up approach for strategy development.
B. They only use the top-down approach for strategy development.
C. They use a combination of both top-down and bottom-up approaches for strategy development.
D. They tend to rely only on financial criteria when selecting projects.
Q:
A firm may approve many new product projects if:
A. simple financial hurdles are not the only criterion.
B. resource constraints are included in the NPV calculations.
C. the management ignores small, quick-hit projects to focus on developing new product technologies.
D. low-quality work reduces the quality of information used for decision making.
Q:
If a firm is already involved in plenty of quick-hit projects, strategic portfolio considerations would indicate that new funding would be better routed to a long-term, major technology development. The firm, as per the example, follows a(n) _____.
A. top-down strategic approach
B. bottom-up strategic approach
C. portfolio approach
D. inductive approach
Q:
Strategic criteria for new product development are best analyzed through the use of _____.
A. financial modeling
B. sales forecasting
C. PIC evaluation
D. NPV calculation
Q:
In the new product development process, the product use test is conducted during the _____ phase of the process.
A. opportunity identification and selection
B. concept generation
C. project evaluation
D. development
Q:
The _____ tool includes several ways to assess strategic fit and market attractiveness, and also considers financial performance.
A. opportunity identification and selection
B. concept generation
C. concept evaluation
D. development
Q:
_____ analysis may be used to estimate the net present value of a new product when it is still in the concept stage.
A. Real-options
B. Progressive regression
C. Factor
D. Conjoint
Q:
Managers who feel business is suffering from "paralysis by analysis" are most likely to:
A. commit to a strategy of low-cost development and marketing.
B. approve situations, not numbers.
C. forecast what is known.
D. go ahead with sound forecasts but prepare to handle the risks.
Q:
Which of the following is a way of putting risk back into product innovation while managing it well?
A. Isolating or neutralizing the in-house critics
B. Demanding precise financial analysis at the time of screening
C. Implementing a product idea on a large scale when the financial analysis is weak
D. Avoiding the use of market testing rollouts
Q:
When faced with weak financial estimates, NewPro Inc. sometimes implements its new product ideas on a small scale to see where the solution might lie. Based on this information, we can say that NewPro Inc. is employing _____.
A. market testing rollouts
B. econometric modeling
C. life cycle analysis
D. diffusion modeling
Q:
Firms that develop a stream of new items that differ very little from those now on the market, insert them into the market without great fanfare, watch which ones end users rebuy, and drop those that do not find favor are using the policy of _____.
A. low-cost development and marketing
B. forecasting and risk management
C. approving situations, not numbers
D. forecasting what is known
Q:
Leah Hubert senses that her "favorite" product concept might be dismissed due to "inappropriate and unreasonable" financial analysis tools that cannot accurately reflect its potential. Leah has attempted to use her influence to push the concept past such obstacles. In this scenario, Leah is functioning as a _____.
A. product architect
B. financial forecaster
C. product champion
D. financial analyst
Q:
Which of the following is a problem associated with sales forecasting?
A. Sales managers tend to make promises a year ahead about sales time and support.
B. New product managers spend a lot of time in conducting field tests on their new products.
C. Most common forecasting methods work well only on new products, and not on established products.
D. Target users don't always know what the new product will actually be or what it will do for them.
Q:
The management's primary task in sales forecasting is to:
A. purchase state-of-the-art forecasting models.
B. make necessary estimates as solid as possible.
C. ensure that all past sales records are accurately archived.
D. conduct training on sales forecasting.
Q:
Which of the following is the most commonly used approach to sales forecasting outside of the consumer packaged goods industry?
A. The A-T-A-R model
B. Progressive regression
C. Conjoint analysis
D. Perceptual gap mapping
Q:
With reference to the Bass diffusion model, which of the following best represents the growth in the total number of purchases that is typically based on adoption by innovators?
A. The cumulative expenditures curve
B. Skimming
C. Initial diffusion rate
D. Itemized response
Q:
Which of the following forecasting tools is commonly used for durable goods and is based on the diffusion curve of new products through a population?
A. The A-T-A-R model
B. Econometric analysis
C. Multiple regression analysis
D. The Bass model
Q:
Those users who will be among the first to try a product are called:
A. early adopters.
B. the early majority.
C. the late majority.
D. laggards.
Q:
_____ refers to the process by which an innovation is spread within a market, over time and over categories of adopters.
A. Diffusion of innovation
B. Adoption of innovation
C. Adaptation of innovation
D. Simulation of innovation