Corporate Innovation
Lecture Outlines and Exam Questions
Chapter 10: Innovation to Commercialization
Chapter 10 Outline
I. Introduction
II. Market Research
a. Understanding the Real Potential Market
i. Define the Research Purpose and Objectives Under Funded
ii. Select Type of Data
iii. The Survey Process
iv. Construct the Questionnaire
v. Analyze Results and Write Report
III. Preparing for Commercialization
a. Business Model
b. Value
IV. Value = Perceived Benefits + Perceived Costs
a. Creditability
b. Legitimacy
c. Location
d. Business Level Strategy
V. Marketing the Innovation
a. Customer Mapping
b. Utilizing the customer map
VI. Selling Your Innovation Story
a. Suggestions for presentation
b. What to expect
VII. Summary
VIII. Key Terms
IX. Review and Discussion Questions
X. APPENDIX A
XI. APPENDIX A
XII. Endnotes
Corporate Innovation
Lecture Outlines and Exam Questions
Chapter 10 Exam Questions
True / False Questions
1. A critical component to establishing idea viability is market research.
2. In general, most market research surveys are not as effective when conducted in person near the
site of the possible target market.
3. A business model answers the question of how your idea will generate revenue streams for your
organization.
4. It is not important to consider the locations needed for operations and sales in implementing the
project.
5. The first step in customer mapping is to describe the product or service idea you have.
6. A memorized presentation will have an abundance of excitement, energy, and interest.
7. People will pay more for products and services when expectations are exceeded.
8. The customer mapping approach provides a way to build your brand and craft your marketing
messages.
9. A stakeholder does not have an affect on the way a company is run.
10. One of the most important factors executives and other stakeholders consider when deciding the
extent of their involvement with a new project is your credibility
Corporate Innovation
Lecture Outlines and Exam Questions
Chapter 10 Exam Questions
Multiple Choice Questions
1. What provides the evidence needed to support the potential rewards of innovation for the
company and the customer?
A. Merchandising
2. What type of analysis would you use if you may want to know the difference in willingness to
purchase your product or service based on sex, income, location, etc.?
A. Averages
3. What is one of the important elements you should include in your innovation plan or feasibility
report?
D. Mission statement
4. What is the first question you must answer in generating the business model?
5. What is the first issue to address when beginning the survey process?
A. The number of surveys necessary
6. When an n innovation is perceived as being consistent with the existing values, past experiences,
and needs of potential adopters it is said to have _____________.
7. Summarizes and simplifies information by providing a clear representation of how the value
proposition, benefits, customer outcomes, and features are in alignment is referred to as what?
D. None of the above
8. Evidence that you have found the place of most potential will be based on ___________.
A. Profitability
9. ____________ states what the product or service ultimately delivers to the consumer.
A. Market conception
10. What is one of the key steps in preparing for your business pitch?
A. Refrain from using visual aids
Corporate Innovation
Lecture Outlines and Exam Questions
Chapter 10 Exam Questions
Essay Questions
Essay 1
Before you begin a research process, you must select the type of data sources to research. Discuss the two
Essay 2
Generally, surveys are comprised of at least four types of questions. List and describe them.
Corporate Innovation
Lecture Outlines and Exam Questions
Essay 3
Explain why it is important to collect profiles on possible teammates and yourself
Essay 4
List and discuss the guidelines for developing a business pitch and a presentation to interested
stakeholders.