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Chapter 1
Intuition has no place in the scientific process of new product- False
Major obstacle of innovation is fear of change and certainty it brings- True
Strategy and the identification is the first stage- True
Basic task of a business is consumer satisfaction / profit
Newness of a product is determined by consumer
Product includes: All of the above
Short Answer:
1) What is a new product and who decides if a product is new?
a.Good or service that is perceived b the target market as different and better than others- the consumer decides if the product is new. When the product has sold enough, made enough profit, established a strong toehold in a new market, and effectively thwarted a particular competitor.
Chapter 2
New product development process ends at the evaluation process- True
Best ideation comes from identifying problems for business and consumers - True
Comprehensive business analysis emphasizes profitability- True
Benchmarking as guidelines ? True
Every new product starts out as a concept
The development phase is concerned with all of the above
Important consideration with product development must be the consumer
1) Why must the marketing department's new product efforts be supported by the firm's corporate strategy?
a. Make sure the product fits the company's mission- make sure they are going in the same direction
Chapter 3
Platform concept cannot be used successfully with services or brands- False
PIC - allows delegation, permits financing, and calls for personal assignments- True
Core compacies serve as a logical starting point- True