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Product Development 2 (Nov 18) > ALBA Quiz Nov 22 > Flashcards

ALBA Quiz Nov 22 Flashcards

1
Q

PRODUCT LAUNCH FAILURES

A 
Unwanted "Better" Mousetrap (Mine Works Fine)
The 'Me Too" Product (Wanna Be)
The Technical Dog (Not as Good)
Competitor Reactions (Marketplace Shift)
Price (Not Competitive)
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2
Q

The Unwanted “Better” Mousetrap refers to:

A

PRODUCT LAUNCH FAILURES

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3
Q

The ‘Me Too” Product refers to:

A

PRODUCT LAUNCH FAILURES

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4
Q

The Technical Dog refers to:

A

PRODUCT LAUNCH FAILURES

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5
Q

LACK OF FIRST-MOVER ADVANTAGE

A 
Technology Vintage Effects (Latest & Greatest)
Protracted Development & Adoption 
(Takes a while to catch on)
Idiosyncratic Factors (People are Strange)
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6
Q

Technology Vintage Effects refers to:

A

LACK OF FIRST-MOVER ADVANTAGE

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7
Q

Protracted Development & Adoption

A

LACK OF FIRST-MOVER ADVANTAGE

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8
Q

IDEA GENERATION

Voice of the Consumer Table (VoCT)

A

Interview Customers and list their wishes

  • Benefits, not Solutions
  • Define Context of Usage
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9
Q

Voice of the Consumer Table (VoCT) is an example of:

A

IDEA GENERATION

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10
Q

IDEA GENERATION

Problem Detection Analysis

A
  • Find What Isn’t Working

- What Would They Like Better?

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11
Q

Problem Detection Analysis is an example of:

A

IDEA GENERATION

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12
Q

IDEA GENERATION

Consumer Idealized Design

A

Customers are Hands-On in the Design Process

Re-build IKEA from Scratch- Blue Sky Brainstorm

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13
Q

Consumer Idealized Design is an example of:

A

IDEA GENERATION

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14
Q

IDEA GENERATION

Lead User Analysis

A

Users Adapt the Product for Their Use,
Marketers Borrow Good Ideas
(First Snowboards Built By Teens)

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15
Q

Lead User Analysis is an example of:

A

IDEA GENERATION

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16
Q

IDEA GENERATION

Empathetic Design

A

Does NOT rely on customer input, attempts to understand UNSTATED needs
(Clients don’t know improvements are available)

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17
Q

Empathetic Design is an example of:

A

IDEA GENERATION

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18
Q

IDEA GENERATION

Contextual Inquiry

A

Interview customer WHILE they perform the task. Consider both Verbal Responses AND Observed Challenges
(Follow Construction workers on a Job Site to Improve Tools)

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19
Q

Contextual Inquiry is an example of:

A

IDEA GENERATION

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20
Q

IDEA GENERATION

Affinity Diagrams

A

Creates a Hierarchial List of Consumer Needs.
Look for Unexpected Relationships.
(IDEO Video- Clusters of Sticky Notes)

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21
Q

Affinity Diagrams are an example of:

A

IDEA GENERATION

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22
Q

What are the 7 Determinants of Diffusion

A
  1. Relative Advantage
  2. Risk of Adoption
  3. Perceived Complexity
  4. Compatability
  5. Ease of Observed Benefits
  6. Likelihood of Communicating the Benefits
  7. Divisibility
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23
Q

Relative Advantage is a:

A

DETERMINANTS OF DIFFUSION

Higher Utility, Lower Cost, Status

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24
Q

Risk of Adoption is a:

A

DETERMINANTS OF DIFFUSION

Social or Physical Risk

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25
Q

IDEA GENERATION

Concept Engineering

A

Prototyping Based on a Combo of Observation Methods (L.L. Bean Video)

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26
Q

Concept Engineering is an example of:

A

IDEA GENERATION

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27
Q

IDEA GENERATION

Crowd-Sourcing

A

Open Innovation, let User Community solve bugs and request new products
(MAC User Group Forums)

28
Q

Crowd-Sourcing is an example of:

A

IDEA GENERATION

29
Q

Perceived Complexity is an example of:

A

DETERMINANTS OF DIFFUSION

30
Q

Compatability is an example of:

A

DETERMINANTS OF DIFFUSION

Does it work with current software?

31
Q

Ease of Observed Benefits is an example of:

A

DETERMINANTS OF DIFFUSION

32
Q

Likelihood of Communicating the Benefits is an example of:

A

DETERMINANTS OF DIFFUSION

Word of Mouth

33
Q

Divisibility is an example of:

A

DETERMINANTS OF DIFFUSION

Ease of Trial Usage Period

34
Q

Why might it be good to be a 2nd Mover?

A

Let the 1st Mover:

  • Test the Market and pay the cost of Failure
  • Take first mover technology and improve it
  • Let first guy spend the money on R&D and Marketing
  • Let first guy Educate the Market
35
Q

List 4 approaches to Forecasting

A
  1. Normed Purchase Intent
  2. Critical-Issues Grid
  3. Scenario Planning
  4. Diffusion Models
36
Q

Normed Purchase Intent is used for:

A

FORECASTING

37
Q

The Critical-Issues Grid is used for:

A

FORECASTING

38
Q

Scenario Planning is used for:

A

FORECASTING

39
Q

Diffusion Models are used for:

A

FORECASTING

40
Q

What is the value of Episodic Response in VoCT, and How do you illicit Episodic Response

A

Episodic Response is more specific to customer needs and wants
Use PROBLEM DEFECT ANALYSIS: Architect asks you what you don’t like in your current home, not what you would add to a dream home

41
Q

What are 3 forms of Consumer Analysis?

A
  1. Rating Scales (Mark Low or High Importance)
  2. Constant Sum Measures (Score points by category- Max 100)
  3. Conjoint Analysis (Chart of 2-3 features, See where Consumers make Trade-Offs)
42
Q

Rating Scales are used for:

A

CONSUMER ANALYSIS

43
Q

Constant Sum Measures are used for:

A

CONSUMER ANALYSIS

44
Q

Conjoint Analysis is used for:

A

CONSUMER ANALYSIS

45
Q

At what stage of Product Development should Marketing be involved?

A

All Stages

46
Q

(True of False)

The Majority of New Products Succeed?

A

FALSE. Estimates vary, but Failure Rates of 50% are not unusual. Some as high as 96%- fail to meet projected sales goals, even if profitable

47
Q

Why do Firms Innovate?

A

AVOID COMMODITIZATION

48
Q

What are the segments in the Classic Diffusion Model?

A
  1. Innovators
  2. Early Adopters
  3. Early Majority
  4. Late Majority
  5. Laggards
49
Q

Innovators & Early Adopters are part of:

A

THE CLASSIC DIFFUSION MODEL

50
Q

Late Majority & Laggards are part of:

A

THE CLASSIC DIFFUSION MODEL

51
Q

What are the segments in the “Chasm” View of Diffusion (Actual Bandwagon Demand)

A
  1. Technology Enthusiasts
  2. Visionaries
    - –THE CHASM—
  3. Pragmatists
  4. Conservatives
  5. Skeptics
52
Q

Technology Enthusiasts & Visionaries are part of:

A

The “Chasm” View of Diffusion

53
Q

Pragmatists & Conservatives are part of:

A

The “Chasm” View of Diffusion

54
Q

What are Two key Aspects of Interviewing Customers when determining VOC- Voice of Customer

A
  1. Think in terms of Benefits products should deliver instead of Solutions (don’t skip to Product Design)
  2. Ask in a way to flesh out usage context, and get specific usable responses to share with Engineers.
    Not just “Clean Dishes”- wants less spots or less grease
55
Q

What are 5 aspects of (Successful) 1st Mover Advantage?

A
  1. Brand Loyalty
  2. Distribution Barriers (to new entries)
  3. Economies of Scale/ Experience Effects
  4. Premier Positioning
  5. Set Standards for Marketplace
56
Q

List 5 Idiosyncratic Factors to Product Development

A
  1. Envisioning the Mass Market (goals too small)
  2. Managerial Persistence (takes 10 yrs+ to invent)
  3. Financial Commitment (Guys & Light Beer)
  4. Relentless Innovation
  5. Asset Leverage
57
Q

(True or False)

Most products fail in the “Fuzzy Front End”, and why is this Good or Bad News?

A

TRUE, This is good news because failures are best in the front end when invested costs are low.

58
Q

Why Use Problem Defect Analysis?

A
  1. Avoid Top of Mind Responses (or popular answers)
  2. Generate Specific and Episodic Responses
    Learn Blockages to Satisfaction
59
Q

What are the 8 steps in the House of Quality?

A
  1. Identify Consumer Needs (by their terms)
  2. Define needs in terms of Customer Desires & Engineer speak
  3. Measure Perceived Importance of each
  4. Measure Consumer Evaluation of Relative Performance (among competitive set)
  5. Identify Design Attributes (that impact need)
  6. Measure your & competitor’s performance on design attributes
  7. Determine the extent to which design aspect impacts consumer need
  8. Determine interrelationships among design attributes
60
Q

What are the VoC steps in the House of Quality (First 4)?

A
  1. Identify Consumer Needs (by their terms)
  2. Define needs in terms of Customer Desires & Engineer speak
  3. Measure Perceived Importance of each
  4. Measure Consumer Evaluation of Relative
61
Q

What are the VoE steps in the House of Quality (Last 4)?

A
  1. Identify Design Attributes (that impact need)
  2. Measure your & competitor’s performance on design attributes
  3. Determine the extent to which design aspect impacts consumer need
  4. Determine interrelationships among design attributes
62
Q

DESIGN & DEVELOPMENT

Benefits of Good Design include:

A
  1. Get Noticed and Create Identity (Yoplait, Prius)
  2. Communicate Information (Dodge Ram)
  3. Raise Utility (Ladies Razor)
  4. Create Positive Affect (via aesthetics)
63
Q

DESIGN & DEVELOPMENT

5 Reasons for Sub-Optimal Design include:

A
  1. Time Pressure (Rush to Market)
  2. Creeping Featurism (Too many bells/whistles)
  3. Users are not Purchasers
  4. Everything Requires Trade-Offs
  5. Insensitivity to Design
64
Q

The Critical Issues Grid Tracks 5 environments at 3 Levels- name them:

A 
Environments:
1. Political
2. Behavioral
3. Economic
4. Social
5. Technological
Levels:
1. Company
2. Business Ecosystem
3. Infrastructure
65
Q

What are the 9 types of Idea Generation?

A
  1. VoCT- Voice of the Customer Table
  2. Problem Detection Analysis
  3. Consumer Idealized Design
  4. Lead-User Analysis
  5. Empathetic Design
  6. Contextual Inquiry
  7. Affinity Diagrams
  8. Concept Engineering
  9. Crowd-Sourcing

Product Development 2 (Nov 18) (1 decks)

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