1.Which of the following are the most important customers to your company’s succ
ID: 392659 • Letter: 1
Question
1.Which of the following are the most important customers to your company’s success?
f. All of the above. You need a portfolio of customers to generate the cash flow needed to earn a profit and invest in future products.
b. Early Adopters
e. Laggards
a. Innovators
c. Early Majority
d. Late Majority
2.In order to be successful, you need to have products in every stage of the life-cycle—with new products constantly being born.
a. True
b. False
3.Which of the following is not an element of an effective NPD process (aka, the cycle of satisfaction)?
a. Conceptualize & develop a product
b. Invest in next generation of customer-pleasing products
c. Verify financial viability
d. Get deep customer insight into customer needs
e. None of the above, they are all elements of the NPD process
4.In the Kimberly Clark example, researchers visited homes and observed parents and their children. Doing this allowed them to come up with a new product that parents with young children needed. What was this product?
a. Baby formula
b. Diapers
c. Binkey
d. Pull-ups
e. Hand sanitizer
5.Companies that understand how their products _____________________ achieve double the ___________________ of their less-in-touch rivals.
a. Meet customer's needs; record hits
b. Make money; profits
c. Solve customer's problems; shareholder returns
d. Social networking capabilities; stock price
e. None of the above
6.What is Operations’ contribution to the New Product Development Team?
a. Technical expertise needed to translate designs into an actual product/service.
b. Deep customer insight that leads to product ideas.
c. Ability to assess financial viability.
d. Feedback on design as well as how customers will actually use the product
e. Technical expertise needed to translate concepts into product/service designs.
7.During the screening/scoping phase of new product development, you should ask two questions, which of the following are those questions?
a. How much profit will this product give the firm? Who is the target market for this new product?
b. Will the product meet the competitive test? Does the product really fit the product strategy?
c. Who is the target market for this new product? Does the product really fit the product strategy?
d. Does the product really fit the product strategy? How much profit will this product give the firm?
8.Which NPD phase includes your final opportunity to make a go/no-go decision?
a. Screening/scoping
b. Development
c. Test and validate
d. Launch
e. Business case analysis
9.Contribution to fixed costs is equal to __________?
a. Fixed costs minus variable costs
b. Price minus fixed costs
c. Price per unit minus variable costs
d. Profit minus total costs (fixed and variable)
10.What are the options if the target costing process is not successful?
a. Kill the product
b. Send the product back a level for incremental improvements
c. Radically design the product
d. Re-dorecast
e. All of the above
f. A and C only
f. All of the above. You need a portfolio of customers to generate the cash flow needed to earn a profit and invest in future products.
b. Early Adopters
e. Laggards
a. Innovators
c. Early Majority
d. Late Majority
Explanation / Answer
Answer 1…Option F – All of the above.
Following are the most important customers to your company’s success as below
a. Innovators
b. Early Adopters
c. Early Majority
d. Late Majority
e. Laggards
f. All of the above. One need a portfolio of customers to generate the cash flow needed to earn a profit and invest in future products.
All falls under the important customer for the company success, because each one play significant role in the success of the company, innovator, adapter, early and late majority, laggards etc all are link of the chain for the success of the organization.
Answer 2…Option True.
In order to be successful, we need to have products in every stage of the life-cycle—with new products constantly being born.
This is a true statement, because in the product life cycle, the products moves from one stage to another stage, hence when one product moves from one stage to another , the stage remain empty, so this empty stage need to be occupied by new product. Hence we can say that each stage need to be constantly filled up by new products on a regular interval.
Answer 3….Option E – None of the above
All of the below are an element of an effective NPD process (aka, the cycle of satisfaction)
a. Conceptualize & develop a product – this is NPD element
b. Invest in next generation of customer-pleasing products - – this is NPD element
c. Verify financial viability - – this is NPD element
d. Get deep customer insight into customer needs - – this is NPD element
e. None of the above, they are all elements of the NPD process
NPD has all the elements as conceptualization, product development, next generation product, financial viability. Deep insight in customer needs.
Answer 4…Option B – Diapers
In the Kimberly Clark example, researchers visited homes and observed parents and their children. Doing this allowed them to come up with a new product that parents with young children needed. The product was Diapers. Diaper was the product identified by the Kimberly Clark
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