Mkt380q - New Product Development - Final Exam

Please create a flow chart that accurately describes the manufacturing costs structure:

What is the formula and/or how do we charge for the assembly process? Give an example using the formula

What are the three divisions that are primaril;y responsible for designing and developing products? (Please state the department and teh role in the development process)

Which if these product development processes accurately describes the sequence of events in developing a new product?

• Product ramp up, Reflection and results, testing and refinement, system level design, detail design, concept generation, planning

• Detail design, system level design, product ramp up, concept generation, product planning

• Concept generation, product planning, detail design, testing, reflection and results

• Planning, concept development, system-level design, detail design, testing and refinement, production ramp-up, reflection and results

Which of these accurately reflects the concept development process?

• Establish targets, product ramp up, selecting products, set final specifications

• Identify customer needs, establish target specifications, generate product concepts, select product concepts, test product concepts, set final specifications, plan downstream development

• Identify customer needs, establish targets, select product concepts, test concepts, plan downstream development

• Generate product concepts, select product concepts, identify customer needs, set final specifications

In which order do we perform these tasks:

• Benchmark, perform economic analysis, buld and test prototypes/models

• Build prototypes, perform economic analysis, benchmark

• Perform economic analysis, benchmark competitive products, build and test prototypes

Which is true of the team developing the product?

• They should ask questions that foster experimental activity

• They should modify the existing product without prototyping

• They should reflect on the process and then benchmark it

What sort of guidelines do are created for developing the concept of a new product?

• Communicating benefits and sale strategy

• Testing legacy strategies

• Packaging and advertising

• A&B only

• B&C only

• A&C only

Teams should judge the go-ahead on a project:

• Based on intuition

• Hypothetical possibilities

• Accurate measurement and assessment

• Taking risks

When people have to learn new skills, they are often:

• Impatient

• Harried

• Excited

• Curious

ATM's, Battery pace-makers, VCR's, and once-a-day medications are all examples of:

• Failures

• Modifications

• Success stories

• Time impaired projects

Proper development and testing can prevent:

• Misleading customers, and poor consumer feedback results

• Defenseless concepts, and wrong positionings

• Poor strategy, and economic failure

• Targeting the wrong market, and improper roll out distribution

When you decide to communicate your concept, one tends to utilize:

• Social media marketing

• Print advertising

• Sketeches and drawings of the product

• Face to face interaction

What does surveying reflect?

• The target market and intended audience

• The demographics of the population

• Whether or not to storyboard the product before putting it out to market

• The decline in pricing strategies

What are the prefered methods of surveying?

• Face to face contact

• Email surveying

• Postal Mail

• Telephone surveying

• Simulation studies

• Focus groups

• A,B,C,&D

• B,C,D,& E

• C,D,E,&A

• None of the above

• All of the above

Which of these combines the richness of video and still images of a product simultaneously?

• Simulation

• Physical appearance models

• Interactive Multimedia

If a prototype os not fully developed, it is called:

• An unfinished prototype

• Testing prototype

• Working prototype

What types of quantitative statistical scale is generally used to intiiate responses in an order/ranking?

• Pierson coefficient

• Likert

• Factor analysis

• Discriminant analysis

Test-prep kitchen meals were an example of:

• Customer oriented products

• Product oriented products

• Both

• None of the above

When you interpret the results and reflection process, you should:

• Seek to determine the availability and awareness of the product

• Consider alternative strategies for cost refinement

• Get feedback from other entrepreneurs

• Reflect on the demographics and culture of the market

Matching the survey format is a part of which process?

• Testing and refinement

• Interactive marketing

• The product and concept development process in general

• Branding awareness

The goal of identifying customer needs is to:

• Identify hidden or latent needs

• Develop an uncommon understanding of customer needs among members of the team

• Justify intuitive changes

• Ensure that every customer provides feedback

Idntifying customer needs is an integral part of:

• Competitve benchmarking and cost reduction

• Competitve benchmarking and concept selection

• Work breakdown structure and project development time

• Project development time and product specifications

Raw data allows us to:

• Draw inferences and observe product usage

• Discuss observations with development team members

• Establish the relative importance of the needs

• None of the above

What are two ineffective interaction techniques with customers you can utilize?

• Not have the customer demonstrate the product and not surpress preconceived notions about the product technology

• Use a loudspeaker to present the product to other consumers and use visual stimuli and props

• Be alert for suprises and latent needs and Not go with the flow

• All of the Above

• None of the above

What does watching for nonverbal information tell us?

• The customer does not know how to express how they feel about the product

• The customer has no interest in the product

• Verbal expressions are the only methodology to tell how a customer feels

• Comfort, style, and image can all be told from non verbal expression

Four methods of documenting interactions include:

• Photography, surveying, notes, Physical interaction

• Notes, photography, video recording, purchases

• Post purchase behavior, video, Pre purchase behavior, surveying

• Audio recording, video recording, notes, photography

Xerox's primary strategy is to:

• Exploit the telecommunications industry in a rapidly changing market

• Make innovative copiers

• Exploit technology in a rapidly changing market

• Use cost, sharing, and knowledge to accelerate workflow

The produc planning process involves:

• Looking at fundamentally new products and then modifying them

• Looking at a mix of new products, platforms, and derivative products that should be pursued

• Looking at the timing and logistical issues in the project

• Looking at competitive benchmarks

When constructing a product development plan, one should:

• Look at previous patent applications

• Look at manufacturing and service constraints

• Call a team meeting to go over any strategies

• Call the marketing team to determine what strategies would be more favorable, traditional or contemporary

New product development involves:

• Efforts to create family legacy values

• Efforts to develop unique and novile products based on common platforms

• Efforts to address changes to minor flaws in existing products

• Efforts to create a new twist on an existing product design

The product planning process involves:

• Allocating resources and project timing

• Mission statements and brand development

• Evaluating projects and DFM strategies

• Concept generation and concept selection

Where do opportunities come from?

• Manufacturing and operations

• The design team and employees

• Marketing and sales personnel

• Suppliers and media

Business partners assist in identifying opportunities

• True

• False

Production efficience can fail due to economies of scale

• True

• False

Carefully designed products do NOT facilitate the rapid development of derivative products with various features and functions

• True

• False

One of the criteria for evaluating fundamentally new product include; The fit with a competitor's capabilities

• True

• False

Entering a new market is often to rejuvinate a portfolio:

• True

• False

Barriers to competiton include; patents, trade secrets, governmental regulations

• True

• False

Aggregate planning is NOT inclusive of projects that can be done in a reasonable time with budgeted resources:

• True

• False

The sooner the product is brought to the market the better, even if quality is sacrificed. We can always improve it.

• True

• False

When adopter buy low end products and trade up it is known as: Segment readiness

• True

• False

Three markets you can consider when developing your product plan are the: primary, secondary, and tertiary

• True

• False

Stakeholders are NOT factors in developing your project plan:

• True

• False

Joint ventures and partnerships can often be suggested as a creative way of leveraging when one is unsure about the product success outcome:

• True

• False

Concept selection is the process of:

A product champion is when:

When a team lists the strengths and weaknesses of each concept it is known as: