The simplicity of operations and decisions is the most dramatic hallmark of prod

Question

The simplicity of operations and decisions is the most dramatic hallmark of product innovation.

True

False

Question 2

Investment in innovation and in particular in radical innovation is critical to the future growth and even survival of a firm.

True

False

Question 3

Concept evaluation is essentially an attempt to identify and remove, product ideas that are likely to fail BEFORE the firm has invested too much of its limited resources in it.

True

False

Question 4

The development of new products requires the project director to deal with BOTH technical and marketing tasks simultaneously.

True

False

Question 5

While the platform concept works well for physical products, it cannot be successfully used for services or brands.

True

False

Question 6

The strategy of adapting/improving the firm's own—or a competitive—product is by far the most common form of "innovation" because it involves no, risk.

True

False

Question 7

The _____ test is used to determine if the intended user really needs the proposed item.

Feasibility

Concept

Product use

Purchase

Question 8

The _____ test is used to determine if the proposed product actually meets customer needs.

Concept

Product use

Market

Sales

Question 9

Which of the following is MOST likely to obsolete successful existing products or product categories?

New-to-the-firm products

New-to-the-world products

Repositioned

Line extensions

Question 10

P&G's Tide Liquid detergent, Apple's iMac and Hewlett-Packard's LaserJet 7P are examples of

Line extensions

New-to-the-firm products

New-to-the-world products

Product innovations

Explanation / Answer

1: True: Any product that is innovated, the concerned team ensures that the usability is simple and understandable.
Also the decision making ability increases.
2. True: There is no doubt in the fact that the organisation has to be in sync with the changing market and that can only be done when they innovate constantly. To remain relevant in the market they have to do so.

3.True: This is ensured that ideas do not fail after huge investment is done, hence the concept is evaluated before investing money in the idea.

4. True: It is the task of the person handling the project that both technical and marketing tasks are in place.

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