Podcast
Questions and Answers
Which model for new product development is characterized by a dedicated project team representing multiple functions?
Which model for new product development is characterized by a dedicated project team representing multiple functions?
- Cross-functional models (correct)
- Sequential models
- Resource-based models
- Stage-gate models
What is defined as the value an organization offers to its customers to generate profit and deliver value?
What is defined as the value an organization offers to its customers to generate profit and deliver value?
- Revenue model
- Marketing funnel
- Business model (correct)
- Price strategy
The new product strategy of a firm should be connected to which of the following?
The new product strategy of a firm should be connected to which of the following?
- Only the marketing strategy
- Sales operations only
- Market research only
- Marketing, technology, and corporate strategy (correct)
What is the key input to any new product strategy?
What is the key input to any new product strategy?
Which of the following best describes the IP Trader model?
Which of the following best describes the IP Trader model?
When Samsung and Sony-Ericsson entered the cell phone market, this was classified as what type of new product development?
When Samsung and Sony-Ericsson entered the cell phone market, this was classified as what type of new product development?
What type of project only involves adding or modifying features of existing products?
What type of project only involves adding or modifying features of existing products?
What is the third stage in the tangibility of the technology transfer process?
What is the third stage in the tangibility of the technology transfer process?
What is NOT a benefit gained through using product platforms?
What is NOT a benefit gained through using product platforms?
Which term describes the process where an organization recognizes the value of a specific technology?
Which term describes the process where an organization recognizes the value of a specific technology?
What is a characteristic of fundamentally new products?
What is a characteristic of fundamentally new products?
The correct sequence of inputs for a new product strategy includes input from:
The correct sequence of inputs for a new product strategy includes input from:
The first step to develop a business model is to define:
The first step to develop a business model is to define:
In what scenario is a new product line developed?
In what scenario is a new product line developed?
Which project type involves only minor changes to maintain competitiveness?
Which project type involves only minor changes to maintain competitiveness?
Which model for new product development integrates multiple functional team members?
Which model for new product development integrates multiple functional team members?
What is NOT a benefit associated with using product platforms?
What is NOT a benefit associated with using product platforms?
The first step in developing a business model involves which action?
The first step in developing a business model involves which action?
Which type of product development project involves significant changes to technologies and markets?
Which type of product development project involves significant changes to technologies and markets?
Which statement is true regarding the relationship between a new product strategy and corporate strategy?
Which statement is true regarding the relationship between a new product strategy and corporate strategy?
What describes the framework of technology transfer concerning recognizing the value of technology?
What describes the framework of technology transfer concerning recognizing the value of technology?
Which of the following is NOT an input considered essential for a new product strategy?
Which of the following is NOT an input considered essential for a new product strategy?
Which classification of new product development best fits when a company enters a market with existing products?
Which classification of new product development best fits when a company enters a market with existing products?
Which model for product development is characterized by blending multiple functional expertise?
Which model for product development is characterized by blending multiple functional expertise?
Flashcards
Johnson and Jones matrix
Johnson and Jones matrix
A product development strategy model that uses innovation as the variable instead of Ansoff's product variable.
Cross-functional models (teams)
Cross-functional models (teams)
New product development model with a project team from different departments.
Business Model
Business Model
Value offered to customers to gain profit, create markets, and deliver value based on resources and capabilities.
New Product Strategy linking
New Product Strategy linking
Signup and view all the flashcards
IP Trader model
IP Trader model
Signup and view all the flashcards
New Product Line
New Product Line
Signup and view all the flashcards
Incremental Improvements to existing products
Incremental Improvements to existing products
Signup and view all the flashcards
Fundamentally new products (discontinuous)
Fundamentally new products (discontinuous)
Signup and view all the flashcards
Innovation in Product Development
Innovation in Product Development
Signup and view all the flashcards
Cross-Functional Teams
Cross-Functional Teams
Signup and view all the flashcards
Business Model Definition
Business Model Definition
Signup and view all the flashcards
New Product Strategy Relation
New Product Strategy Relation
Signup and view all the flashcards
Key Inputs for New Product Strategy
Key Inputs for New Product Strategy
Signup and view all the flashcards
New Product Line Development
New Product Line Development
Signup and view all the flashcards
Product Platform Benefits
Product Platform Benefits
Signup and view all the flashcards
Study Notes
New Product Development Strategies
- Johnson and Jones' matrix replaces Ansoff's product variable with innovation. (True)
- Cross-functional teams are a model of new product development that brings together people from different departments.
- A business model defines how an organization offers value to customers, generating profit and delivering value.
- New product strategy is linked to marketing, technology, and overall corporate strategy.
- Key inputs for new product strategy should consider all factors.
- The IP Trader model is a distributor model.
- Samsung and Sony-Ericsson entering the cell phone market is a new product line. (True)
- Product platforms offer consistent benefits, except for unique components for each model.
- Technology transfer involves identifying a technology's value to the organization. (Association)
- The third stage in technology transfer tangibility is knowledge.
- Product and brand managers need to consider many aspects after product launch. (All of the above)
- W.L. Gore & Associates' Gore-Tex is a fundamentally new product (discontinuous).
- Defining current resources and capabilities is the first step in business model development. (True)
- Incremental improvements to existing products are a classification of projects in product planning.
- Departmental-stage models are known as "over-the-wall" models for new product development.
- Technology transfer employs technology only in its original application. (False)
- The inventor/creator business model involves individuals designing and selling products.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Test your understanding of new product development strategies, including innovative models and cross-functional teams. This quiz covers various aspects such as business models, product platforms, and technology transfer. Challenge your knowledge and apply concepts discussed in product management.
