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Q:
Which of the following risk strategies is most likely to incur opportunity costs?
A. Avoidance
B. Mitigation
C. Transfer
D. Acceptance
Q:
According to the risk/payoff matrix, during the phase of concept/project evaluation of the new products process, a _____ error occurs when a winning product is discarded.
A. drop
B. decay
C. launch
D. development
Q:
Which of the following outcomes of a risk/payoff matrix, used for evaluating a new product process, is most likely to be the costliest for a firm?
A. Stopping a product that is likely to fail
B. Continuing a product that is likely to fail
C. Stopping a product that is likely to succeed
D. Continuing a product that is likely to succeed
Q:
Which of the following industries is most likely to be represented by a late expenditures curve?
A. Consumer packaged goods
B. Pharmaceuticals
C. Optics
D. Computers
Q:
Which of the following statements is true of the cumulative expenditure curve?
A. The early expenditures curve initially slopes downward and then starts sloping upward.
B. The late expenditures curve is representative of product development in technical fields such as optics.
C. The late expenditures curve initially slopes upward and then starts sloping downward.
D. The early expenditures curve is representative of product development in technical fields.
Q:
The evaluation issue during the launch phase in the new product development process that seeks to find out if a firm has proven itself able to make and market an item on a commercial scale is usually carried out by the evaluation task called _____.
A. market testing
B. prototype development
C. market capitalization
D. market segmentation
Q:
A _____ is an evaluation technique that tells one whether he or she is ready to develop a product for serious field testing.
A. speculative sale
B. protocol check
C. scoring model
D. full screen test
Q:
The primary purpose of evaluation during Phase III of the basic new products process is to:
A. develop a marketing plan.
B. create a final, full-scale prototype.
C. identify concepts that will proceed further in the development process.
D. eliminate all probable mistakes in the launch phase.
Q:
With reference to the purpose of evaluation, which of the following questions that a firm asks, tests the aspect of scalability of assessing ideas in the concept generation phase of the basic new products process?
A. Does it meet a specific customer need?
B. Does the firm have the capability to develop and launch the idea?
C. Can the firm become more efficient in production as volume increases?
D. Is there a good match corporate strategy and culture?
Q:
During the concept generation phase of the basic new products process, the goal of product evaluation is to:
A. chart out the PIC.
B. cull out the big/sure losers.
C. conduct protocol checks and prototype tests.
D. speculate sale in retrospect.
Q:
The first use of evaluation is focused upon:
A. the development of a marketing plan.
B. the likely success of the product concept that has been selected for development.
C. mistakes made during the launch of the new product.
D. providing direction for the selection of potential product concepts.
Q:
The very first evaluation in the product development process usually:
A. occurs after a product idea has been developed.
B. precedes the product concept.
C. follows the development of a prototype.
D. follows the product launch.
Q:
Which of the following actions causes backtracking?
A. When the product development process is carried out step by step
B. When the costs of incomplete product development are higher than the costs of delayed introduction
C. When an idea or concept cannot be implemented until after a prototype has been created
D. When the steps in the product development process are skipped
Q:
The current process of developing a new product is different from the earlier processes in that now:
A. one needs to follow a linear step by step approach.
B. it is possible to work on packaging before a finished product is ready.
C. the development process begins after the initial prototypes are generated.
D. it is possible to treat a product and its marketing plan as two separate entities.
Q:
Which of the following is the reason that one can telescope the product development process into shorter periods of time?
A. The development process always proceeds in a step by step manner.
B. The development process begins after the initial prototypes are generated.
C. A product and its marketing plan are evaluated as separate and divisible pieces.
D. A cross-functional team works on the development process.
Q:
A new product appears first as a(n) _____.
A. prototype
B. idea
C. model
D. code
Q:
A-T-A-R is a term that came from consumer products marketing.
Q:
The A-T-A-R model is applicable to services as well as industrial products.
Q:
The A-T-A-R concept is based on the diffusion of risk model.
Q:
Surrogate questions help when the timing of factual information does not often match one's need for it.
Q:
Concept testing is different from concept development as it undermines the idea of helping an item and kills it off.
Q:
In new product work, financial analysis should be done by firms as early as possible to avoid wasting money on poor projects.
Q:
The decay curve primarily indicates the cumulative expenditure incurred at various stages of developing a new product.
Q:
A firm that develops a contingency plan prior to launching a new product is adopting an active acceptance risk strategy.
Q:
A "go error" and a "drop error" have the same cost and probability dimensions.
Q:
With reference to the risk/payoff matrix, a "drop error" occurs when a product, that is likely to fail if marketed, is continued.
Q:
The late expenditures curve is representative of product development in technical fields such as optics.
Q:
If a firm makes products with very long cycle times, it is required to control the number of products it has in the process queue at any given time so that products receive development funds in a timely manner.
Q:
The development phase of a product is naturally iterative.
Q:
The fact that a product and its marketing plan is viewed as a single unit is what lets one to telescope the development process into shorter periods of time.
Q:
The evaluation process begins with the creation of a prototype.
Q:
Explain analogy as a problem-solving method with the help of suitable examples.
Q:
How does relationships analysis differ from other concept-generating methods? Identify the two types of relationships analysis techniques.
Q:
Explain the importance of virtual prototypes in concept testing.
Q:
Explain adaptive conjoint analysis.
Q:
List the guidelines for the use of conjoint analysis.
Q:
Which of the following characteristics is unique to a morphological matrix?
A. It is restricted to the two-dimensional platform.
B. It considers only the determinant attributes of a product.
C. It simultaneously combines more than two dimensions.
D. It may result in new product ideas that do not emerge in any other way.
Q:
In contrast to most other qualitative analysis, relationships analysis:
A. uses checklists.
B. goes directly to a new product idea.
C. is typically three-dimensional.
D. uses determinant attributes.
Q:
Relationships analysis typically involves:
A. removing one of the components of the product and replacing it with one from another environment.
B. removing an intrinsic relationship and its function, in such a way as to functionally change the product.
C. finding relationships among dimensions to generate new product concepts.
D. identifying and creating a new relationship typically between a component internal to the product and one that is external to the product.
Q:
The two-dimensional matrix and the morphological matrix are examples of types of _____ analysis.
A. conjoint
B. dimensional
C. gap
D. relationships
Q:
According to Goldenberg and Mazursky, _____ is a creativity template that finds a functional dependency between two independent variable features and the interaction may suggest a creative new product.
A. attribute dependency template
B. displacement template
C. replacement template
D. component control template
Q:
Which of the following creativity templates presented by Goldenberg and Mazursky seeks to identify and create a new connection between a constituent internal to the product and one that is external to the product?
A. Attribute dependency template
B. Displacement component template
C. Replaced component template
D. Component control template
Q:
Identify the creativity template, presented by Goldenberg and Mazursky, which removes an intrinsic component and its function so as to functionally change the product.
A. Attribute dependency template
B. Displacement template
C. Replacement template
D. Component control template
Q:
Checklists typically consist of a _____.
A. description of features
B. list of questions
C. list of attributes
D. description of potential target markets
Q:
Which of the following is one of today's most widely used idea-generating techniques?
A. SWOT analysis
B. Bayesian analysis
C. Checklists
D. VRIO frameworks
Q:
Which of the following idea-generating techniques evolved from early forms of dimensional analysis?
A. Checklist
B. AR gap mapping
C. Choice-based conjoint analysis
D. Product matrix
Q:
The underlying premise for _____ is that product concept creativity is triggered by the mere listing of every physical feature of a product, because we instinctively think about how that feature could be changed.
A. factor analysis
B. perceptual mapping
C. adaptive conjoint analysis
D. dimensional analysis
Q:
Information acceleration:
A. typically involves using a two-dimensional matrix for studying consumer preferences of product attributes.
B. simulates the information typically available in a realistic purchase situation.
C. is very inexpensive and has a number of extensions.
D. is ineffective in enabling customers to make a realistic purchase decision.
Q:
Which of the following is true of information acceleration?
A. It will become more expensive as video technology improves.
B. It allows testing of many virtual variations of the same basic concept.
C. It provides simple concept pictures that does not provide enough information.
D. It is ineffective in enabling customers to make a realistic purchase decision.
Q:
_____ is a concept testing method in which respondents are brought into a virtual buying environment that simulates the information typically available in a realistic purchase situation.
A. Information replication
B. Information acceleration
C. Information generation
D. Information visualization
Q:
Trade-off analysis is unsuitable for major innovations because:
A. respondents can conceptualize the innovation and its uses too well in advance.
B. customers tend to give inconsistent reviews about the products.
C. customers without a high level of expertise in the product category may be unable to assess the innovation's benefits.
D. customers without a high level of expertise in the product category mostly provide only data regarding detrimental attributes.
Q:
Conjoint analysis has been shown to provide a valid early indication of ultimate product success for _____.
A. product line extensions
B. new-to-the-world products
C. product inventions
D. major innovations
Q:
In which of the following types of conjoint analysis is the respondent shown several alternative products and asked which one he/she would prefer?
A. Discrete choice analysis
B. Adaptive conjoint analysis
C. Choice-based conjoint analysis
D. Bayesian analysis
Q:
Combinations of several attributes to which a respondent states likelihood of purchase using a number between 0 and 100 are known as _____.
A. calibration concepts
B. part-worths
C. fragments
D. feature groups
Q:
_____ analysis, developed by Sawtooth Software, shows only a few attributes at a time to the respondent and adapts to the respondent as the conjoint exercise goes on.
A. Information acceleration
B. Choice-based conjoint
C. Adaptive conjoint
D. Dimensional
Q:
Conjoint analysis is least likely to be useful for _____.
A. line extensions
B. new-to-the-world products
C. product improvements
D. repositioned products
Q:
Identify the correct statement regarding conjoint analysis.
A. It assumes that one cannot represent a product as a set or bundle of attributes.
B. It considers variety-seeking behavior among consumers.
C. It includes purchase occasion as an important factor in the procedure.
D. It cannot be carried out until discrete determinant attributes have been identified.
Q:
Which of the following techniques is used to estimate the relative preferences of all possible products using only a small subset of "attribute/level" cards?
A. Fractional factorial design
B. Path quality analysis
C. Part-worth's design
D. Finite element analysis
Q:
Conjoint analysis uses monotone analysis of variance (MONANOVA) to identify the:
A. appropriate pricing tool for a new product.
B. best market for a new product.
C. strengths and weaknesses of a competitor.
D. customers' underlying value system within the rank order data.
Q:
To identify a customer's underlying value system, conjoint analysis uses rank orderings to estimate the utilities of each level of each attribute for each customer and these utilities are called _____.
A. fractional values
B. fractals
C. part-worths
D. contribution margins
Q:
_____ is a data analysis technique used by conjoint analysis to find a customer's underlying value system patterns within rank order data.
A. Dimensional analysis
B. Fraction analysis
C. Semantic analysis
D. Monotone analysis of variance
Q:
Trade-off analysis is becoming increasingly valuable for industrial product innovation because:
A. business buyers tend to make a more rational analysis of product features than consumers.
B. businesses have more funds to spend than consumers.
C. business buyers are interested in quick transactions and short-term relationships with the suppliers.
D. industrial product innovation is relatively simple.
Q:
Gourmetz, a fast food joint, seeks to launch a new range of organic pizzas. The determinant attributes for the new product range of pizzas are identified as spiciness, flavor, and thickness. The range for each of these attributes is also selected. Cards representing each variant that combines specific levels of determinant attributes are prepared and given to consumers. Then, the best level of each attribute is combined into an overall favorite product. This is an example of _____.
A. cost-benefit analysis
B. VRIO framework
C. SWOT analysis
D. trade-off analysis
Q:
Which of the following statements is true of conjoint analysis?
A. It primarily considers variety-seeking behavior among consumers.
B. It assumes that one cannot represent a product as a set or bundle of attributes.
C. It is similar to multidimensional scaling as it considers overall similarities rather than specific attributes.
D. It identifies which sets of attributes would be most preferred by customers.
Q:
Conjoint analysis is an analytical tool used to assess tradeoffs much like _____ analysis is a tool to develop perceptual maps.
A. factor
B. block
C. decision tree
D. semantic feature
Q:
Conjoint analysis:
A. assumes that one cannot represent a product as a set or bundle of attributes.
B. can use the output of AR gap analysis to select product attributes.
C. uses virtual prototypes for determining product attributes.
D. is a quantitative technique used to incorporate customer input into concept generation.
Q:
The assumption behind the use of conjoint analysis is that:
A. a product is considered as a whole rather than in discrete attributes.
B. a product can be represented as a set or bundle of attributes.
C. the number of items per purchase is a constant to scale market share.
D. preferences can be observed by testing of many virtual variations of the same basic concept.
Q:
After finding the important attributes on which the available products differ, gap analysis:
A. describes the product category being considered.
B. plots the findings on maps.
C. determines the geographical segmentation of the product market.
D. uses the findings to create a matrix.
Q:
_____ analysis is the name of one of the most common analytical tools used to assess tradeoffs.
A. Technical
B. Leaps
C. Conjoint
D. Relational
Q:
The analysis of the process by which customers compare and evaluate brands based on their attributes or features is best described by the term _____ analysis.
A. trade-off
B. dimensional
C. relational
D. lexical
Q:
_____, often called conjoint analysis, is a technique that is commonly used in concept evaluation.
A. AR gap analysis
B. Attribute analysis
C. OS gap analysis
D. Trade-off analysis
Q:
Analogy is used heavily as part of the problem-solving step in problem-based methods.
Q:
The morphological matrix of studying relationships simultaneously combines more than two dimensions.
Q:
In the context of relationships analysis, a buyer's experience cycle dimension refers to how a product affects a customer's life.
Q:
With reference to relationships analysis, utility lever indicates at what point a product affects a customer.
Q:
The displacement template, presented by Goldenberg and Mazursky, involves retaining the intrinsic components of a product.
Q:
Checklists produce a multitude of potential new product concepts, most of them worthless.
Q:
Checklists are one of today's most widely used idea-generating techniques.
Q:
Dimensional analysis involves listing only the measurements of dimensions of a product type such as spatial length and width.
Q:
Conjoint results are a valid early indicator of ultimate product success.