Mkt380q - New Product Development - Final Exam

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

• 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

Competitive design allows for positive group decision making.

• True

• False

Three guidelines for manufacturing parts include; facilitate parts handling, use self fastening parts, and stack assemblies

• True

• False

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

• True

• False

Product quality is reflected in the product price customers are willing to pay:

• True

• False

Stakeholders are NOT factors in developing your project plan:

• True

• False

An injection mold is an example of an direct cost:

• True

• False

Production efficience can fail due to economies of scale

• True

• False

Entering a new market is often to rejuvinate a portfolio:

• True

• False

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

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

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

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

• True

• False

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

Most products take two years to develop:

• True

• False

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

• True

• False

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 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 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

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

• Simulation

• Physical appearance models

• Interactive Multimedia

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

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

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

The timing of patent applications must be within:

• Two years of submission

• Five years of submission

• One year of submission

• Only Provisional patents can be issued

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

• True

• False

DFM is also knowns as:

• Design for the Environment

• Design for Multiple Platforms

• Design for Mixologies

• Design for Methodologies

Custom component parts are specifically made by:

• The manufacturer or supplier

• The shipping warehouse

• The manufacturer

• The supplier

A typical utility patents is issued for fifteen years:

• True

• False

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

Raw material costs are not added to the processing costs for the operator and machinery:

• True

• False

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

Where do opportunities come from?

• Manufacturing and operations

• The design team and employees

• Marketing and sales personnel

• Suppliers and media

Concept screening and scoring involve:

• Preparing the matrix, rating and ranking concepts, improving concepts, and testing teh product

• Selecting a concept, ranking it, and simulating a prototype

• Preparing a matrix, ranking and rating it, improving concepts, selecting one, and reflecting on the process

• Five completely different steps

It should not take more than five seconds to handle and insert a part that is perfectly suited for assembly:

• True

• False

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

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

• True

• False

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

• Pierson coefficient

• Likert

• Factor analysis

• Discriminant analysis

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

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

• Failures

• Modifications

• Success stories

• Time impaired projects

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

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

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

Decision matrices rate:

• Each criteria against prespecified selected criteria

• Each preselected crtieria against alternative solutions

• Each criteria against customer responses

• None of the above

Labor, equipment, and tolling are all a part of:

• Custom part costs

• Assembly costs

• Indirect costs not linked to a particular product

• Component costs

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

Teams should judge the go-ahead on a project:

• Based on intuition

• Hypothetical possibilities

• Accurate measurement and assessment

• Taking risks