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Question
Since SmartShoe Inc. is the market leader in the gliding shoe market, it enjoys an excellent reputation. It was the pioneer of this new market and currently holds 40 percent market share. Now SmartShoe wants to introduce a new range of orthopedic shoes. Discuss how its reputation might affect its acceptance among distributors and consumers.
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
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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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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.
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a. The project manager of an autonomous team does not have any control over resources contributed from different functional departments.
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a. Team members will spend up to 50% of their time on team-related activities.
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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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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.
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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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Managers of lightweight teams are normally junior or middle management employees.
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a. They are unwilling to take risks and to pay high prices.
b. They may demand considerable customization and technical support.
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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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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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b. project champion.
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a. Its sales will be slow as consumers will already be committed to other products.
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c. Firms have to develop their own supply and distribution channels.
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