Podcast
Questions and Answers
What is the primary purpose of new product development in the innovation process?
What is the primary purpose of new product development in the innovation process?
- To generate profits to cover the initial cost (correct)
- To introduce the right product to customers
- To create an innovative idea
- To test the market research capabilities
What is the outcome of idea generation in the business approach?
What is the outcome of idea generation in the business approach?
- Generating a successful business idea (correct)
- Developing a business plan
- Completing a feasibility analysis
- Implementing a startup phase
What is the primary focus of market research in new product development?
What is the primary focus of market research in new product development?
- To analyze the financial feasibility of the product
- To educate customers for the new product
- To introduce the right product to customers (correct)
- To adopt a sustainable NPD strategy
What is the primary reason for product failure after launch?
What is the primary reason for product failure after launch?
What is the final stage of the business approach in new product development?
What is the final stage of the business approach in new product development?
What is the primary goal of the analysis/research phase in new product development?
What is the primary goal of the analysis/research phase in new product development?
What is the primary outcome of adopting a sustainable NPD strategy?
What is the primary outcome of adopting a sustainable NPD strategy?
What is the primary focus of the startup phase in new product development?
What is the primary focus of the startup phase in new product development?
What is the primary purpose of idea screening and selection?
What is the primary purpose of idea screening and selection?
What is the consequence of not replacing or innovating a product?
What is the consequence of not replacing or innovating a product?
What is the term for the process of translating a selected idea into a physical product or a new feature?
What is the term for the process of translating a selected idea into a physical product or a new feature?
What is the primary benefit of concurrent engineering in NPD?
What is the primary benefit of concurrent engineering in NPD?
What is the primary purpose of conducting a series of evaluations in the NPD process?
What is the primary purpose of conducting a series of evaluations in the NPD process?
What is the term for the process of identifying business opportunities for new products?
What is the term for the process of identifying business opportunities for new products?
What is the primary reason why NPD is critical for firms to stay in the market?
What is the primary reason why NPD is critical for firms to stay in the market?
What is the term for a tentative version of a product that includes features and benefits?
What is the term for a tentative version of a product that includes features and benefits?
What is the primary purpose of managing and growing the firm in the context of organization feasibility?
What is the primary purpose of managing and growing the firm in the context of organization feasibility?
What is the main objective of the industry/market feasibility assessment?
What is the main objective of the industry/market feasibility assessment?
What is the primary focus of a detailed business plan?
What is the primary focus of a detailed business plan?
What occurs when sales start during the NPD process?
What occurs when sales start during the NPD process?
What is the relationship between product/service desirability and target market attractiveness?
What is the relationship between product/service desirability and target market attractiveness?
What is the primary difference between a business opportunity and a product concept?
What is the primary difference between a business opportunity and a product concept?
What is the primary purpose of identifying fatal flaws in the product or service?
What is the primary purpose of identifying fatal flaws in the product or service?
What is the primary focus of the concept development phase in the NPD process?
What is the primary focus of the concept development phase in the NPD process?
What is the primary reason for involving customers in every stage of the new product development process?
What is the primary reason for involving customers in every stage of the new product development process?
What is the main challenge in involving customers as a resource for ideas in the idea generation stage?
What is the main challenge in involving customers as a resource for ideas in the idea generation stage?
What is the role of customers as co-creators in the idea screening and selection stage?
What is the role of customers as co-creators in the idea screening and selection stage?
What is the primary concern when selecting customers for involvement in the new product development process?
What is the primary concern when selecting customers for involvement in the new product development process?
What is the role of customers as users in the product introduction stage?
What is the role of customers as users in the product introduction stage?
Why is customers' involvement in the new product development process critical?
Why is customers' involvement in the new product development process critical?
What is the main benefit of involving customers in the product development stage?
What is the main benefit of involving customers in the product development stage?
What is the main difference between customers as resources and customers as co-creators in the new product development process?
What is the main difference between customers as resources and customers as co-creators in the new product development process?
What was the initial reaction of consumers to the introduction of fax machines in the 1960s?
What was the initial reaction of consumers to the introduction of fax machines in the 1960s?
What was a major challenge faced by firms when introducing totally new products to the market?
What was a major challenge faced by firms when introducing totally new products to the market?
Why did consumers initially reject the Dyson bagless vacuum cleaner in the 1990s?
Why did consumers initially reject the Dyson bagless vacuum cleaner in the 1990s?
What was the outcome of the introduction of the Chrysler Cruiser in the 1990s?
What was the outcome of the introduction of the Chrysler Cruiser in the 1990s?
What was a key feature of the marketing campaign for the I-pod when it was introduced?
What was a key feature of the marketing campaign for the I-pod when it was introduced?
What is a characteristic of industries that experience more complicated processes in new product development?
What is a characteristic of industries that experience more complicated processes in new product development?
Why do firms need to educate customers about new products?
Why do firms need to educate customers about new products?
What was the benefit of the I-pod that allowed users to save songs they liked?
What was the benefit of the I-pod that allowed users to save songs they liked?
The primary goal of new product development is to generate profits to cover the initial cost of innovation.
The primary goal of new product development is to generate profits to cover the initial cost of innovation.
A new product has only one interpretation across different customers.
A new product has only one interpretation across different customers.
Conducting a series of evaluations is only necessary during the analysis/research phase in new product development.
Conducting a series of evaluations is only necessary during the analysis/research phase in new product development.
The final stage of the business approach in new product development is the startup phase.
The final stage of the business approach in new product development is the startup phase.
The primary benefit of concurrent engineering in NPD is to reduce production costs.
The primary benefit of concurrent engineering in NPD is to reduce production costs.
Involving customers in every stage of new product development is necessary to ensure product success.
Involving customers in every stage of new product development is necessary to ensure product success.
The primary concern when selecting customers for involvement in new product development is their technical expertise.
The primary concern when selecting customers for involvement in new product development is their technical expertise.
Adopting a sustainable NPD strategy ensures that the new product will not fail after launch.
Adopting a sustainable NPD strategy ensures that the new product will not fail after launch.
The primary purpose of involving customers in the NPD process is to ensure that the product reflects the needs of the market.
The primary purpose of involving customers in the NPD process is to ensure that the product reflects the needs of the market.
Customers are only involved in the idea generation stage of the NPD process.
Customers are only involved in the idea generation stage of the NPD process.
The role of customers as co-creators is limited to the idea generation stage.
The role of customers as co-creators is limited to the idea generation stage.
Involving customers in the NPD process can lead to unreliable and unuseful information if not done carefully.
Involving customers in the NPD process can lead to unreliable and unuseful information if not done carefully.
Customers are only involved in the product development stage to define the final product design.
Customers are only involved in the product development stage to define the final product design.
The primary role of customers as users is to test product performance.
The primary role of customers as users is to test product performance.
Lead users are the only source of information for new product development.
Lead users are the only source of information for new product development.
Ranking ideas based on their importance to customers is not a key issue in the idea screening and selection stage.
Ranking ideas based on their importance to customers is not a key issue in the idea screening and selection stage.
A new product can be considered as a minor change in the existing product.
A new product can be considered as a minor change in the existing product.
The NPD process is only critical for firms that want to stay ahead in the market.
The NPD process is only critical for firms that want to stay ahead in the market.
Educating customers about new products is not necessary because they will automatically understand its benefits.
Educating customers about new products is not necessary because they will automatically understand its benefits.
Introducing a new design of a product always requires significant resources and time to come to market.
Introducing a new design of a product always requires significant resources and time to come to market.
Lead users are never willing to participate in evaluating emerging concepts.
Lead users are never willing to participate in evaluating emerging concepts.
A new product can never be considered as a change in the packaging of the existing product.
A new product can never be considered as a change in the packaging of the existing product.
Introducing a new product with the same features but a new smell is never considered a new product.
Introducing a new product with the same features but a new smell is never considered a new product.
Lead users are only passionate about improving products and are not loyal to the brand.
Lead users are only passionate about improving products and are not loyal to the brand.
Product failure can occur when customers are not aware of the product's value.
Product failure can occur when customers are not aware of the product's value.
Sustainable NPD strategy involves introducing a new product that only considers environmental sustainability criteria.
Sustainable NPD strategy involves introducing a new product that only considers environmental sustainability criteria.
Reducing energy consumption is an example of adopting sustainable NPD strategy.
Reducing energy consumption is an example of adopting sustainable NPD strategy.
Adopting sustainable NPD strategy can lead to a decrease in sales.
Adopting sustainable NPD strategy can lead to a decrease in sales.
Finding the right communication channel with customers is important to define their needs inaccurately.
Finding the right communication channel with customers is important to define their needs inaccurately.
Integrating customers in each stage of NPD is necessary to educate them about the product's value.
Integrating customers in each stage of NPD is necessary to educate them about the product's value.
New technology should always be adopted without considering customers' needs.
New technology should always be adopted without considering customers' needs.
Adopting sustainable NPD strategy can lead to an increase in operation costs.
Adopting sustainable NPD strategy can lead to an increase in operation costs.
The introduction of microcomputers in the 1960s was initially successful due to consumers' ability to predict all potential uses.
The introduction of microcomputers in the 1960s was initially successful due to consumers' ability to predict all potential uses.
The Chrysler Cruiser was widely accepted in the industry immediately after its launch in the 1990s.
The Chrysler Cruiser was widely accepted in the industry immediately after its launch in the 1990s.
The primary purpose of educating customers about new products is to create a competitive position by controlling price.
The primary purpose of educating customers about new products is to create a competitive position by controlling price.
The level of technical activities is less intense in industries that experience more complicated processes.
The level of technical activities is less intense in industries that experience more complicated processes.
The I-pod was initially successful due to its ability to hold only a few songs.
The I-pod was initially successful due to its ability to hold only a few songs.
The Dyson bagless vacuum cleaner was initially successful due to its ability to collect dirt in a transparent container.
The Dyson bagless vacuum cleaner was initially successful due to its ability to collect dirt in a transparent container.
Fax machines were widely accepted by consumers immediately after their introduction in the 1960s.
Fax machines were widely accepted by consumers immediately after their introduction in the 1960s.
