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1. The group of people who lead the development of a new product act as "a company
within a company."
2. Due to rapid market turbulence and the number of product varieties demanded by
customers, many firms find that it is efficient to develop a single consistent product.
3. Platforms are not a possibility in service industries as they are for manufactured goods.
4. The value of an established brand is called its brand equity.
5. Most marketing effort today is conducted at individual product platform levels.
6. An example of an internal mandate of a firm is the introduction of new regulatory
restrictions from regulatory bodies.
7. In the research conducted by Social Technologies, it was found that the more people
become accustomed to virtual spaces, the boundary between these and the real world will
become increasingly pronounced.
8. The product innovation charter can be thought of as a kind of mission statement, but
applied at a more micro level within the firm.
9. The core competencies of a firm are an excellent place to start the search for charter
arena definitions.
10. Letting customers' stated wants drive product innovation is most likely to fail when in a
market with enormous unmet needs and very slow-reacting competitors.
11. Mass customization is an activity where all customers of a product are offered products
of their individual choices.
12. A variation on market drivers is the "distributor" when a producer develops new products
to meet the needs of, or capitalize on the franchise of, resellers.
13. According to the definition of goals in the Product Innovation Charter (PIC), goals are
short-term, specific measures of progress/accomplishment.
14. The quick second entry option is the last timing alternative and is usually a price entry
keyed to manufacturing skills.
15. According to the product-portfolio proposed by the Strategic Decision Group (SDG), white
elephants represent projects with high expected commercial value.
16. With reference to product development, a _____ is defined as a set of systems and
interfaces that form a common structure.
17. The term "platform" was initially associated with the _____ industry.
18. Reinforay, an aircraft manufacturer, makes passenger, cargo, short-haul, and long-haul
aircraft from the same design, with many shared components. Reinforay is using a _____.
19. Which of the following best describes the process of modularization?
20. Which of the following is true of product planning?
21. Ace Corporation, a software development firm, used a standard set of subcomponents for
all its multimedia products. Ace is using a _____.
22. In an attempt to allow for more sharing of components, Designethic, redesigns its power
tool groups into specific product families, allowing for more sharing of components. This best
exemplifies a _____.
23. A platform procedure that uses top-down mechanisms is intended to:
24. Which of the following is most likely to be an advantage of a product platform?
25. _____ are widely used and tend to be billion-dollar assets personally driven by CEOs.
26. The value of an established brand is called its _____.
27. A single overall plan for a product industry is typically known as a _____ platform.
28. Many futurists advocate studying the emerging trends in society and deriving product
opportunities from them. A team of experts from the consulting firm Social Technologies
identified six important and provocative modern trends. One of these trends is "The transparent
self." Which of the following observations is primarily associated with this trend?
29. Many futurists advocate studying the emerging trends in society and deriving product
opportunities from them. A team of experts from the consulting firm Social Technologies
identified six important and provocative modern trends. Which of these trends is most likely to
influence consumers to make spur-of-the-moment decisions?
30. Identify the situation associated with the greatest amount of innovativeness risk.
31. A manufacturer of ice creams introduces a new mint and lime flavored ice cream.
According to the product/market matrix, the amount of innovativeness risk that the firm brings
with this new flavor would be _____.
32. A computer services firm decides to diversify in the field of cosmetics. According to the
product market matrix, the innovativeness risk in this case could be _____.
