Types of innovation fundamentally changes market

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Reference no: EM132280100

1. Which of the statements below correctly describe the Stage Gate™process?

a) The Stage Gate process manages new product development from idea to launch.

b) The Stage Gate process happens over a period of time, as project teams work from Idea to Launch, and the firm’s “intelligence” about the product and market increase.

c) The firm increases the resources invested in a project as it proceeds through the Stage Gates.

d) As a project moves through the stage gates, risk comes down as more is known about its design, cost and value to the target market. e) all of the above

2. Which of the following is not a critical success factor for new product success that Robert Cooper describes in Winning at New Products?

a) A properly executed product launch

b) A strong market orientation

c) A unique superior product design

d) A disciplined new product process

e) Highest R&D spending among competitors

3. Which type of customer requirements must be observed or deduced, and cannot be identified with interviews or surveys?

a) Latent Needs

b) Technical Specifications

c) Benefits

d) Solutions

e) Performance Specifications

4. Which marketing strategy requires a focus on breakthrough products?

a) Low cost producer

b) Industry innovator

c) Niche player

d) Fast follower

e) None of the above

5. Sustaining innovation:

a) Demands new business models

b) Requires significant R&D funds

c) Is best done in a “skunk works”

d) Re-orders the marketplace

e) Extends existing product life cycles

6. Which of the following types of innovation fundamentally changes a market?

a) Product or service innovation

b) New market innovation

c) Sustaining innovation

d) Disruptive innovation

e) Operational innovation

7. Which of the following statements is most likely true about the product life cycle?

a) Throughout the product introduction stage, sales are zero

b) The growth stage is the longest stage of the product life cycle

c) Revenues are nonexistent in the product development stage

d) Growth is a period of rapid market acceptance and decreasing profits

e) Maturity is the period when sales fall off but profits continue to rise

8. According to Ulwick, the three types of data companies must obtain to successfully innovate are:

a) Outcomes, constraints, challenges

b) Jobs, outcomes, constraints

c) Results, constraints, targets

d) Jobs, challenges, results

e) All of the above

Reference no: EM132280100

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