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Question
Josh is the executive vice president of a bank. Recently the president of the bank asked Josh to use his influence to ensure that the online banking project was developed and implemented. Paul is being asked to be a:
a. devils advocate.
b. project champion.
c. entrepreneur.
d. mentor.
Answer
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Related questions
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a. sponsorship.
b. product modularity.
c. a bundling relationship.
d. disintermediation.
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a. penetration
b. market skimming
c. survival
d. freemium
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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.
d. contract book.
Q:
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.
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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.
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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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Q:
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.
d. For this market segment, detailed technical information is not as important as using market channels with high reach and high credibility.
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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:
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a. 24
b. 6
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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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d. It will not be able to upgrade its product.
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If a firms product is undifferentiated, buyers will typically experience lesser bargaining power.
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Ammunition can be considered a complement for firearms.
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Which of the following is an advantage of being a later entrant into a market?
a. Firms can capture scarce resources.
b. Firms do not have to invest in exploratory research.
c. Firms have to develop their own supply and distribution channels.
d. Firms are unaffected by switching costs.