战略营销Test-BankChapter-6-Question-Bank-7-28-2017.docx

Marketing Strategy: Based on First Principles and Data AnalyticsMarketing Strategy:Based on First Principles and Data AnalyticsQuestion BankChapter 6 Question BankMULTIPLE CHOICE QUESTIONS1) The _ involves creation of substantial new value for customers and the firm by creatively changing one or more dimensions of the business.a) Process of innovationb) Process of expansionc) Process of modificationd) None of the aboveAnswer: A2) A first-mover advantage is nearly always trumped by _, who are not just quick but also better.a) Laggardsb) Early followersc) Late entrantsd) None of the aboveAnswer: B3) Short-term business pressures often undermine innovation because.a) CEOs want returns from marketing in 6-12 monthsb) Resources are taken from short-term initiatives to hit long-term targetsc) Marketing practices for market-based assets impact accounting decisionsd) All of the aboveAnswer: A4) _ refers to the core value that the performance of the product/service offers the customer, absent any brand or relationship equity effects.a) Competitive advantageb) Offering yieldc) Offering equityd) None of the aboveAnswer: C5) _ is a process to increase the speed of a firms offering development and enhance its likelihood of success.a) Segmentationb) Stage-gate approachc) Innovationd) None of the aboveAnswer: B6) Which of the following are the ways a firm can innovate?a) Change what the firm offersb) Changing who the customer isc) Changing where to sell to customersd) All of the aboveAnswer: D7) Greater offering equity, generated from a firms new and innovative products/services leads to _ (check all that apply).a) SCA b) Superior sales c) Increased competitiond) Superior profitAnswer: A, B, and D8) The following are the ways for a firm to change who the customer is (check all that apply).a) Provide a total solutionb) Change customer interactionsc) Change firm structured) Change customers to targetAnswer: B and D9) _ means that once developers/designers accept some new feature, they perceive its great value far more than would be assigned the feature by non-users.a) New offering biasb) Non-user biasc) Designers cursed) None of the aboveAnswer: C 10) Which of the following is not true about disruptive innovation.a) It involves a disruptive positioning and higher riskb) Focuses on the blue oceanc) Market space is well -definedd) Demand is created rather than fought over Answer: C 11) _ refers to an innovative offering that results from dramatically repositioning an existing offering so that the total offering appeals to a different customer segment with a new proposition.a) Repositioning Strategyb) Positioning strategyc) Disruptive strategyd) None of the aboveAnswer: A12) Which of the following ways does marketing directly help in creating innovation strategies? (check all that apply).a) Collecting customer inputsb) Forecasting market trendsc) Lowering profit volatilityd) All of the aboveAnswer: A and B. 13) Which of the following items can you get or derive from a Conjoint Analysis?a) Data product design matrixb) Customer preferences on a new productc) Customer preferences on different product attributesd) Both B and CAnswer: D14) _ attempt to capture a portion of the existing market, and account for the majority of sales, but earn lower relative profit levels.a) Blue ocean strategiesb) Black ocean strategiesc) Red ocean strategiesd) None of the aboveAnswer: C15) _ aim at transforming the image of competitors brand features, such that they become a negative attribute in the new market.a) Blue ocean strategiesb) Black ocean strategiesc) Red ocean strategiesd) None of the aboveAnswer: A16) The basic intuition in Jugaad is that:a) It requires the same stage-gate process for all innovative ideasb) Agile innovation practices can vary with each problem stage and productc) It seeks conventional solutions to problemsd) None of the aboveAnswer: B17) _ leads to continuous, incremental improvements over time.a) Sustaining technologyb) Innovative technologyc) Disruptive technologyd) None of the aboveAnswer: A18) With its very different price and performance characteristics, _ improves very quickly.a) Sustaining technologyb) Innovative technologyc) Disruptive technologyd) None of the aboveAnswer: C19) _ are the first to adopt, often before the new offering even is officially launched.a) Innovatorsb) Early adoptersc) Early majority d) None of the aboveAnswer: A20) _ see the benefits of the new technology and are willing to adopt it after just a few references.a) Innovatorsb) Early adoptersc) Early majority d) None of the aboveAnswer: B21) The _ consists of much more pragmatic consumers, who need to be convinced that the new product really works.a) Innovatorsb) Early adoptersc) Early majority d) None of the aboveAnswer: C22) The _ and _ want more evidence, but they are especially hard to persuade (check all that apply).a) Laggardsb) Early majorityc) Late majorityd) None of the aboveAnswer: A and C23) In Moores adoption cycle, the concept of _ refers to many new offerings failing to survive the jump from the early adopters to the early majority groups.a) Crossing the chasmb) Switching strategyc) Breaking barriersd) None of the aboveAnswer: A24) Which of the following is not true about the adoption lifecycle?a) Innovators are the first to adopt, often before the new offering even is officially launched b) Early adopters see the benefits of the new technology and are willing to adopt it after just a few references c) The laggards consist of much more pragmatic consumers, who need to be convinced that the new product really works d) Both of the last two groups, late majority and laggards, also want more evidence, but they are especially hard to persuadeAnswer: C25) Changing the following factors can alter the rate of product diffusion, all else being equal (check all that apply).a) Complexityb) Trialabilityc) Relative advantaged) All of the aboveAnswer: D26) What is a part-worth in Conjoint Analysis?e) Data you need to run Conjoint Analysisf) Measure the likelihood of choosing a productg) Measure the preference toward a producth) Measure the preference toward levels of product attributesAnswer: D27) Which of these factors is not important to early adoption.a) Observabilityb) Compatibility c) Lowest price d) Relative advantageAnswer: C28) _ helps marketers design and develop new products by thinking of products as bundles of attributes, then determining which combination of attributes is best suited to meet the preferences of customers.a) Choice modelsb) Conjoint analysisc) Perceptual mapsd) None of the aboveAnswer: B29) The _ captures many of the people-and-product-based factors, but it also integrates pricing and advertising levels to predict adoption rates.a) Bass modelb) Choice modelc) Choice modeld) None of the aboveAnswer: ATRUE/FALSE QUESTIONS 30) Most firms rank innovation as a top strategic priority. Innovation involves more than new technologies or products; it can reflect changes in business processes or go-to-market strategies.Answer: TRUE31) Firms can innovate in four primary ways: changing their offering, changing who the customer is, changing when they sell to customers or changing where they sell.Answer: FALSE (how they sell, not when)32) A first-mover advantage is often short-lived, but once a firm has a radical innovation, they dont need to create offering equity.Answer: FALSE 33) A stage-gate development process improves the speed of product development, the success likelihood, and the development costs.Answer: TRUE 34) Conjoint analysis can facilitate the design and launch of new offerings by helping managers define the lowest price product.Answer: FALSE (product with the highest value, not necessarily the lowest price product)35) The Bass model captures many of the people- and product-based factors, but cannot integrates pricing and advertising levels to predict adoption rates.Answer: FALSE 36) Specific product characteristics generally capture 4080 percent of the variation in the speed with which offerings diffuse.Answer: TRUE37) On average, 75% of the new product meets consumer objectives, but not sales goals.Answer: FALSE38) In the share of preference rule in conjoint, each customer selects the product that offers him/her the highest utility among the competing alternatives.Answer: FALSE (first choice rule)39) Sustaining technologies improve the performance of established products along dimensions valued by mainstream customers in major markets.Answer: TRUEESSAY TYPE QUESTIONS40) Write a short note about the innovation radar.Answer: The innovation radar does a good job capturing some of the many different ways a firm can innovate; it helps define the innovation space according to what, who, how, and where aspects. First, the most obvious method is to change what the firm offers, in line with a traditional view of the new product or service innovation. This change might entail offering, platform, or solution innovations. Second, changing who the customer is, represents another route that involves innovations related to customers, experiences, and value capture. For example, when Home Depot grouped multiple categories of products and targeted them at do-it-yourself (DIY) customers, rather than contractors, it radically and innovatively changed the identity of the customer for these products and services. Third, changing how you sell to customers pertains to the processes, organizations, and supply chains that a firm uses. When Progressive Insurance started sending employees to meet with customers at the site of their automotive accidents or soon after the accident, and paying claims on the spot rather than requiring customers file detailed claims, it generated novel advantages for both the customer and the firm. Fourth, changing where to sell to customers comprises presence, networking, and brand innovations. 41) Write a short note about red and blue ocean strategies.Answer: Red Ocean marketsthus named to reflect the metaphor of blood in the waterare very competitive and populated by “sharks” fighting over the same customers. Many of these firms try to claim differentiation based on the same or similar attributes; they launch new product or service extensions that represent just incremental innovations. These relatively minor extensions make up the large majority of all new offerings and incremental sales, but they also represent significantly less profit. The competition keeps pricing power low. Traditional segmentation, targeting, and positioning (STP; see Chapter 2) and stage-gate design processes are very effective in Red Ocean markets though, because the customers are well known, and though their needs change (MP#2), those changes can be better anticipated over time. To pursue more disruptive repositioning strategies, firms instead can seek out Blue Ocean markets, a metaphor reflecting the blue hue of the deep ocean waters that are far from land. These markets are less competitive, marked by few firms in the uncharted waters, but the distance from land also creates a significant risk of failure. Blue Ocean strategies redefine the market space, introduce unexpected features, and fundamentally change the entire value proposition. When successful, they create entirely new market segments that customers might never have asked for or even knew they wanted, such that many traditional market research methods are ineffective. But one-time market leaders are unlikely to take the disruption lying down. They respond to the innovation by shifting their offering to match the emerging competitor. For example, on recognizing the exponential rise in Internet-based shopping and mobile commerce, Best Buy, the US electronics retailer, moved relatively quickly to close or downsize many of its stores and thus reduce its costs, while also strengthening its online channels and building more seamless multichannel shopping experiences. Because, as we have learned, these barriers and SCAs are inherently short-lived, especially when a market grows and expands to include new competitors, brands often constitute the most effective tools. Consumers are likely to recognize and appreciate the Best Buy brand, especially if it can revise its offerings to match those provided by disruptive, innovative competitors.42) Write a short note about sustaining versus disruptive technologies.Answer: Sustaining technologies are well understood and typically exploited by market leaders, which produce continuous, incremental improvements over time. Market leaders rely on sustaining technologies to improve the performance of established products along familiar dimensions valued by mainstream customers; ultimately though, the product likely overshoots these customers needs. For example, major telecommunication companies kept offering new features to their product and service offerings, such as voicemail, caller ID, and better clarity. The sustaining technology options (e.g., digital services, fiber connections) helped them improve their offerings, mostly for demanding business customers at first but then for everyday consumers too. As a result, consumers wound up with a sophisticated bundle of home phone services, offering high degrees of reliability, fidelity, and innovative service options, many of which exceeded their needs. If market-leading firms also depend too heavily on a stage-gate development process, which further incremental product improvements devoted to well-understood customers and technologies, the market might become stagnant and ripe for the introduction of a radically new technology.Disruptive technologies accordingly present highly different price and performance characteristics or value propositions. When they first emerge, they might produce “worse” performance than a well-refined, sustaining technology. That is, a disruptive technology usually underperforms established products for mainstream customers, at least initially. Then market leaders, with their investments in existing offerings and staff of engineers who focus on available technologies, tend to assume the new technology is not suitable for their customers. They remain focused on promoting solutions using sustaining technologies, assume all their customers need and want a broad bund