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1. By definition, new products are limited to significant technological innovations.
2. New products can be tangible goods or services.
3. Radical innovation that displaces or obsoletes current products and creates totally new
product categories is critical to the future growth and survival of a firm.
4. Business firms expect, and get, a high percentage of their sales and profits from new
products.
5. A firm's global presence is no guarantee that it will automatically know how to efficiently
manage its global operations.
6. Firms with a global innovation culture have the most effective global new product
programs.
7. An ideal new products team is essentially self-directed with limited or no cross-
functionality.
8. The term "product innovation" usually applies to functions, especially those of
manufacturing or distribution.
9. New-to-the-firm products revolutionize existing product categories or define wholly new
ones.
10. New-to-the-world products are less likely to require consumer learning.
11. The number one reason for new product success is a unique superior product.
12. The terms "product idea," "product concept," and "product prototype" are
interchangeable and they are all about the same thing.
13. Product portfolio management refers to the procedure that takes a new product idea
through concept evaluation, product development, launch, and post-launch.
14. Research has shown that at least 40 percent of firms assign a marketing manager whose
job it is to manage the phased new products process.
15. In a new product process, an evaluation task that includes conditional "Go" decisions is
sometimes called a fuzzy gate.
16. Well-known business writer, Gary Hamel, has described _____ as "the most important
business issue of our time."
17. Which of the following statements is true of the importance of new products?
18. Which of the following is a reason for product failure in a firm?
19. With reference to the new products process, a firm adopts the ready—fire—aim approach
when it:
20. According to the latest Comparative Performance Assessment Study (CPAS), in
comparison to the Rest, Best companies are:
21. Which of the following firms will have the most effective worldwide new product
programs?
22. Firms with a global innovation culture:
23. Rules of thumb that firms have found that work for them can be referred to as:
24. Products that are inventions and create a whole new market are called:
25. New-to-the-firm products are:
26. New-to-the-firm products:
27. _____ are also known as "flanker" brands.
28. When a current product of a company has been enhanced to better serve consumer
needs, the product will fall into the new product category of _____.
29. Ace Corporation is a manufacturer of powder and liquid dishwashing detergents. Owing
to popular demand, the company introduces a single-load, scented, gel detergent encased in
water-soluble bags designed to fit dishwasher detergent trays. The firm's new product is best
described as a(n):
