Strategic Product Activities Analysis Quiz

Inventions that create a whole new market = New-to-the-world products Products that take a firm into a category new to it = New-to-the-firm products or new product lines Products that are retargeted for a new use or application = Repositioning New products that simply replace existing products at a lower cost = Lower-priced products

Degree of difficulty associated with full understanding of the application of an innovation = Complexity Measures the extent to which it is possible to try an innovation before final adaptation/rejection decision = Divisibility Reflects the degree of difficulty associated with communicating benefits of an innovation to prospective users = Communicability Product made better than its current version = Improvement and revisions to existing

Flanker brands or line extensions to flesh out the product line as offered to the firm’s current market = Addition to existing product lines New products introduced at a lower cost providing similar performance to existing products = Lower-priced products Products that are retargeted for a new use or application = Repositioning Products that create a whole new market = New-to-the-world products

Function of relative advantage, compatibility, complexity, and divisibility = Communicability Influences attitudes towards a new product and measures adaptability before final decision = Divisibility Reflects difficulty in communicating benefits of an innovation to prospective users = Communicability Degree of difficulty in understanding application of an innovation = Complexity

Products retargeted for new uses or applications = Repositioning New products that replace existing ones at a lower cost with similar performance = Lower-priced products Inventions creating entirely new markets = New-to-the-world products Products that take a firm into new categories previously unexplored by them = New-to-the-firm products or new product lines