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Question
If a firms objective is maximum market skimming, it will initially set a high price on new products.
Answer
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Related questions
Q:
The demand-pull approach to research and development refers to:
a. research and development that focuses on developing products that are expected to increase demand in a particular market segment.
b. research and development that begins by examining the outcomes of the firms basic research and the potential commercial applications that may be constructed from those outcomes.
c. research and development that focuses on developing products that are expected to decrease the demand for their substitute products.
d. research and development that originates as a response to the specific problems or suggestions of customers.
Q:
Erison Group, an advertising company, wants to hire an individual for the post of creative head. Which of the following is the characteristic that the company has to look for while recruiting for that particular post?
a. An individual who completely adheres to the existing logic and paradigms and has extensive knowledge of the field
b. An individual who has low tolerance for ambiguity, and avoids taking risks
c. An individual who has a moderate degree of knowledge of the field, but is intrinsically motivated
d. An individual who prefers to look at problems in conventional ways
Q:
Knowledge that cannot be readily codified is called explicit knowledge.
Q:
Collaborative research is prohibited in high-technology sectors.
Q:
The science-push approach to research and development argued that innovation was driven by the perceived demand of potential users.
Q:
User innovators typically create new product innovations in order to profit from the sale of the innovation to customers.
Q:
Innovation often originates with those who create solutions for their own needs.
Q:
An organizations overall creativity level is a simple aggregate of the creativity of the individuals it employs.
Q:
An individual with only a moderate degree of knowledge of a field will be able to produce more creative solutions than an individual with extensive knowledge of the field.
Q:
Explain how computer-aided design and flexible manufacturing technologies help create small niches in the market place. Provide an example to illustrate your answer.
Q:
The innovation process is often conceived of as a funnel because:
a. most innovative ideas become successful new products.
b. it decreases the amount of output achievable from a given quantity of labor and capital.
c. it increases the importance of production economies of scale.
d. there are many potential new product ideas and only a few make it through the development process.
Q:
Technology is in its purest essence _____.
a. knowledge
b. trial and error
c. experimentation
d. guesswork
Q:
Technological innovations increase:
a. the gross domestic product of an economy.
b. product life cycles.
c. the time required for product development and introduction.
d. the production costs of multiple product variations.
Q:
Firms that charge headlong into new product development usually have short development cycles.
Q:
If a business discharges untreated chemical waste into local water bodies, it imposes a negative externality on the community members.
Q:
In the context of design rules for fabricated assembly products, minimizing the number of parts for a product reduces direct labor and material handling costs.
Q:
The house of quality uses a scale of one to ten to evaluate competing products.
Q:
In Stage 1 of the stage-gate process, the team builds a business case that includes a defined product, its business justification, and a detailed plan of action for the next stages.
Q:
Not-invented-here syndrome occurs when:
a. a division of a firm is reluctant to adopt other divisions innovations.
b. a firm tends to always adopt innovations developed by competitors.
c. an innovation is openly accepted without testing its suitability.
d. developers of a failed innovation refuse to take responsibility for its failure.
Q:
In the 1980s and 1990s, Neon Co. was the most successful firm in the television market. The firm believed that competitors would never be able to produce televisions comparable to its quality and cost. As a result, it was unable to respond to the new generations of television that Japanese competitors had begun to infiltrate the market with. Eventually, Neon lost its market leadership to its competitors. This is a typical example for the _____.
a. Giffen effect
b. Hawthorne effect
c. Idiosyncrasy credit
d. Icarus Paradox
Q:
A loosely coupled structure is better suited for activities that involve exchange of tacit knowledge.
Q:
In a loosely coupled structure, development and production activities achieve coordination through tight integration.
Q:
According to Joseph Schumpeter, small firms are likely to have better-developed complementary activities such as marketing or financial planning that enable them to be more effective innovators than larger firms.
Q:
George has come up with a new computer program to help online sellers manage online auctions at sites such as eBay and others. It is superior to just using a spreadsheet to track auctions. He would like his program to become the dominant design, but also wants to earn a profit from all his hard work. What can George do to most effectively meet both of these objectives?
Q:
What is a trademark? How can the rights to a trademark or service mark be established?
Q:
Albert has designed a license plate holder for automobiles that makes theft of the license plate practically impossible. He has limited income and feels that he needs to protect his patent in numerous countries so that he can sell his product there in the future. Discuss how Albert can accomplish this.
Q:
Stevenson, a U.S. citizen, wrote a book called The Ten Commandments of Leadership. He gave away copies of this book to the people who attended his workshops on leadership. The copyright protection for this book: a. is nonexistent unless Stevenson registers it with the Copyright Office. b. is in effect from the time the book was created and fixed in a copy. c. will be valid for only 20 years since the publication of the book. d. will be valid till Stevenson dies.
Q:
Joes Burgers is a famous fast food chain that uses a picture of a cook in a red hat as its symbol. It is not legal for you to sell hamburgers with the same identification picture as that of Joes Burgers because that would be a(n):
a. patent violation.
b. trademark violation.
c. embargo violation.
d. trade secret violation.
Q:
After much research, Angela has designed a new automobile tire that has a unique polycarbonate exterior which cannot be punctured. In the context of patenting this invention, which of the following statements is true under U.S. patent law? a. It can be patented as it is useful, novel, and not obvious. b. It can only receive a plant patent. c. It can be patented because tires are tangible products. d. It cannot be patented as it is only eligible for a copyright protection.
Q:
Homogeneous teams should possess more information, on average, than heterogeneous groups.