New Products

976 Words4 Pages
Chapter 1

Intuition has no place in the scientific process of new product- False
Major obstacle of innovation is fear of change and certainty it brings- True
Strategy and the identification is the first stage- True

Basic task of a business is consumer satisfaction / profit
Newness of a product is determined by consumer
Product includes: All of the above

Short Answer:
1) What is a new product and who decides if a product is new?
a.Good or service that is perceived b the target market as different and better than others- the consumer decides if the product is new. When the product has sold enough, made enough profit, established a strong toehold in a new market, and effectively thwarted a particular competitor.

Chapter 2

New product development process ends at the evaluation process- True
Best ideation comes from identifying problems for business and consumers - True
Comprehensive business analysis emphasizes profitability- True
Benchmarking as guidelines – True

Every new product starts out as a concept
The development phase is concerned with all of the above
Important consideration with product development must be the consumer

1) Why must the marketing department’s new product efforts be supported by the firm’s corporate strategy?
a. Make sure the product fits the company’s mission- make sure they are going in the same direction

Chapter 3

Platform concept cannot be used successfully with services or brands- False
PIC - allows delegation, permits financing, and calls for personal assignments- True
Core compacies serve as a logical starting point- True
Technology is the single most important factor in new product development- False
Goals are long term targets, objectives are short term – True

The PIC should flow from and be consistent with mission statement
McDonalds uses golden arches in order to add tangibility
PIC utilizes all the following except employment policies
Which of the following categories would a firm want to dominant its portfolio- pearls

1) What’s the purpose and value of product platform planning?

Chapter 4

Common thread in providing a unique safe environment where criticism is not allowed- T
New product only comes into being when it’s successful- True
Technology is always a starting point for new product- False

An inventor tends to be all of the above
New product is born when successful in the market place
Marketing perspective, new product development efforts should be begin- benefit
Useful development in user orientated ideation involves identifying lead users

1) Who are lead users and why are they important?
a. Out in front, trendsetters- at the leading edge of the trend, have the best understanding of the problems faced, and expect to gain significantly from solutions to those problems.
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