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Question
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.
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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b. Creating an online ordering system
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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.
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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.
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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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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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Explain the value of the stage-gate process in new product development.
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Severity = 4
Likelihood of occurrence = 2
Inability of controls to detect it = 3
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a. 24
b. 6
c. 2.67
d. 9
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a. devils advocate.
b. project champion.
c. entrepreneur.
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a. Its sales will be slow as consumers will already be committed to other products.
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d. It will not be able to upgrade its product.
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a. very early
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c. maturity
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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.