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Question
If a company learns of the cost and efficiency advantages of a new technology to replace one it is currently using, will it then adopt the new technology as quickly as it can? Explain the reason for your answer.
Answer
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a. sponsorship.
b. product modularity.
c. a bundling relationship.
d. disintermediation.
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Viral marketing is based on the fact that people are more receptive to, or have greater faith in, information that comes through personal contacts.
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In crafting an advertising message, firms must focus more on making the advertisements entertaining and memorable rather than on providing a significant quantity of informative content.
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Bundling products together can offer firms the advantage of switching costs.
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If a firm willingly cannibalizes its existing products with more advanced products, the firm can make it very easy for other firms to achieve a technological lead large enough to prove persuasive to customers.
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Firms should always be racing to launch their products as early as possible.
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John was serving in an autonomous team and was asked to sign a document honoring the project plan and pledging to work towards the goals specified. This document, which defined in detail the basic plan to achieve the goals of the project, is called a:
a. vision statement.
b. code of ethics.
c. mission statement.
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Which of the following is a disadvantage associated with autonomous teams?
a. The project manager of an autonomous team does not have any control over resources contributed from different functional departments.
b. The autonomous team structure does not accommodate cross-functional integration.
c. It is hard for autonomous teams to fold back into the parent organization when a project is completed.
d. Autonomous teams do not have a project manager because of which they face a lot of coordination problems.
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Albert has put together a new product development team based on the functional team structure. Which of the following is most likely to be true about this team?
a. Team members will spend up to 50% of their time on team-related activities.
b. The team will typically require dedicated liaison personnel.
c. The team will have a high degree of cross-functional integration.
d. The team structure will be straightforward to implement.
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The Vice President of Sunflower Computers is trying to decide on the composition of a new product development team. If he chooses members who are from different backgrounds, he can reap the benefits of:
a. a broader knowledge base.
b. lesser cross-fertilization of ideas.
c. homophily.
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Which of the following is an advantage typically associated with cross-functional teams?
a. A cross-functional interface ensures that cross-fertilization of ideas is reduced.
b. Cross-functional teams allow a project to draw on a wider mix of information sources in the environment.
c. Cross-functional teams usually reduce coordination and communication costs.
d. Cross-functional teams are most efficient in eradicating the problems related to homophily.
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In the forming of virtual teams, it is important to select personnel who have strong interpersonal skills.
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Project managers of heavyweight teams are typically junior managers.
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Managers of lightweight teams are normally junior or middle management employees.
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Which of the following is true of innovators and early adopters?
a. They are unwilling to take risks and to pay high prices.
b. They may demand considerable customization and technical support.
c. They are more likely to respond to marketing that communicates the products completeness.
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Homogeneous teams should possess more information, on average, than heterogeneous groups.
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A lack of cross-functional communication can lead to a poor fit between product attributes and customer requirements.
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Explain the value of the stage-gate process in new product development.
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Jupiter Tech Inc. conducted a failure modes and effects analysis of a digital identification system that it had developed. The scores are as follows:
Severity = 4
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a. 24
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c. Form a focus group to make sure the product meets user expectations.
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a. focus groups
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b. project champion.
c. entrepreneur.
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Trekker Inc. has developed a product with a very short product development cycle. Which of the following results can it typically expect?
a. Its sales will be slow as consumers will already be committed to other products.
b. It will be able to provide complementary goods to enhance the attractiveness of its product.
c. It will be unable to fully amortize the fixed costs of development before the product becomes obsolete.
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a. very early
b. late
c. maturity
d. mass