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NPD > Strategy > Flashcards

Strategy Flashcards

1
Q

The inexpensive plastic lens that made the disposable camera possible is an example of:

a. Sustaining strategy
b. Platform strategy
c. Market strategy
d. Project strategy

A

b. Platform strategy

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2
Q

A corporate vision statement:

a. Often contains statements on uniqueness and a visual picture of the future
b. Never changes
c. Is the same as a corporate goal
d. Sometimes contains information on what the organization values

A

a. Often contains statements on uniqueness and a visual picture of the future

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3
Q

Strategic arenas are:

a. Where first to market players want to be
b. Markets, processes and strategies
c. Markets, products, and technologies
d. Markets, strategies and technologies

A

c. Markets, products, and technologies

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4
Q

With sustaining technologies, the:

a. Technology basis is familiar
b. Technology is new and unknown
c. Best strategy is to be first to market
d. Performance is worse in the near-term

A

a. Technology basis is familiar

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5
Q

Most major new product development projects are:

a. New to the company
b. Derivatives
c. New to the world
d. Incremental/Improvements

A

d. Incremental/Improvements

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6
Q

The benefits of a platform strategy include:

a. Focuses management on key decisions
b. Enables products to be delpoyed rapidly
c. Encourages a long-term view of product strategy
d. All of the above

A

d. All of the above

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7
Q

Competitive intelligence is:

a. The capacity to acquire and apply knowledge
b. Used by competitors to steal your technology secrets
c. The practice of gathering, analyzing and communicating available data on competitive trends and the process for transforming public competitor information into pertinent and strategic knowledge concering competitor’s positions, size, efforst and trends.
d. The practive of obtaining your competitor’s marketing and technology secrets

A

c. The practice of gathering, analyzing and communicating available data on competitive trends and the process for transforming public competitor information into pertinent and strategic knowledge concering competitor’s positions, size, efforst and trends.

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8
Q

In analyzer firm, also called a fast follower, the goal is:

a. To have the lowest cost to product compared to the first mover, its all about cost.
b. To protect their chosen market domain through high quality superior service or lower costs
c. To gain at least 50% of the first mover’s market share
d. To get to market rapidly with an equal or improved product following another who intially opened the market and to follow an imitative innovation strategy.

A

d. To get to market rapidly with an equal or improved product following another who intially opened the market and to follow an imitative innovation strategy.

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9
Q

In the Product Innovation Charter, the goals and objectives area includes:

a. New product profitability goals
b. New product introduction goals
c. Success rate goals for new products developed
d. All of the above

A

d. All of the above

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10
Q

According to Miles and Snow, an Analyzer strategy is:

a. Seldom first to market
b. Oftern seen as using new to the world technologies
c. Always defending its niche
d. Same as first to market

A

a. Seldom first to market

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11
Q

According to Crawford and DiBenedetto, a PIC can be created for:

a. Programs
b. Platforms
c. Products
d. All of the above

A

d. All of the above

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12
Q

Which of the following would NOT be a role of senior management in NPD strategy?

a. Make sure all NPD strategies are linked to the corporate strategy
b. Develop the corporate NPD strategy
c. Specify the research methods which must be used to justify a new product project
d. All of the above would be a role of senior management

A

c. Specify the research methods which must be used to justify a new product project

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13
Q

An organization’s value statement is:

a. A statement of values and behaviors the organization intends to follow
b. A depiction of the desired future state of the organization
c. A statement of a company;s philosophy and business
d. All of the statements listed

A

a. A statement of values and behaviors the organization intends to follow

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14
Q

According to Cooper, the strategy that is best performing is:

a. First to market
b. Differentiation
c. High ROI
d. Differentiated

A

d. Differentiated

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15
Q

According to Michael Porter, the overall cost leadership strategy type:

a. Achieves the lowest production and distribution costs
b. Works on the goal of quantity production
c. Values being first to market
d. Is focused on quality

A

a. Achieves the lowest production and distribution costs

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16
Q

Attractive markets offer:

a. Opportunities for incremental projects
b. Lots of customers
c. High potential for NP customers who need the product and feel it is important and where there is a low competition level
d. High ROI potential

A

c. High potential for NP customers who need the product and feel it is important and where there is a low competition level

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17
Q

A product innovation charter includes which of the following for a new product concept:

I. The market and technology focus

II. The goals and objectives

III. A detailed financial analysis and project plan

A

I. The market and technology focus

II. The goals and objectives

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18
Q

A organization’s mission statement is:

a. A statement of values the organization intends to follow
b. A depiction of the desired future state of the organization
c. A statement of a company’s philosophy and business
d. All of the above

A

c. A statement of a company’s philosophy and business

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19
Q

Strategic technology planning invloves

a. Issuing a new product development process for managing research and development
b. Organizing a platform around a specific technology
c. Determining how an organization will leverage current technology
d. Acquiring technology to maintain or achieve competitive advantage

A

d. Acquiring technology to maintain or achieve competitive advantage

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20
Q

Mission statements provide:

a. A vision for the organization
b. An up-to-date NPD strategy
c. A focus for people, resources, and actions
d. A long-term perspective for new product development teams

A

c. A focus for people, resources, and actions

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21
Q

A strategic plan:

a. Helps determine new product development sales pricing
b. Is a document that emphasizes technology efforts
c. Helps determine new product features
d. Assists in establishing a platform strategy

A

d. Assists in establishing a platform strategy

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22
Q

An enhanced new product is:

a. A product that has new attributes that entice the customer
b. A feature rich product, sort of like a Swiss Army knife, that has something for everyone
c. A very focused new product that delivers outstanding new customer value
d. A type of derivative product, an enhanced product includes features not found on the base platform that add value to the product

A

d. A type of derivative product, an enhanced product includes features not found on the base platform that add value to the product

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23
Q

According to the PDMA, the owner’s of an organization’s new product development strategy are:

a. All of the employees of the organization
b. The team leaders of the NPD teams
c. The owners of the organization
d. The senior management of the organization

A

d. The senior management of the organization

24
Q

New product features describe:

a. A product’s attributes
b. A product’s value proposition
c. What a customer wants in a new product
d. Specifications

A

a. A product’s attributes

25
Q

Organizational excellence in NPD is achieved with two key factors:

a. Strictly following a structured NPD process and correctly identifying your market
b. Sound NPD strategy and willingness to commit unlimited resources to NPD
c. Management willing to take risks and threats in the market place
d. Sound new product development strategy and great execution

A

d. Sound new product development strategy and great execution

26
Q

Christensen’s efforts in sustaining and disruptive technologies suggests that:

a. Sustaining technologies are seldom profitable
b. Disruptive technologies introduce a different value proposition
c. Disruptive technologies work in high growth markets
d. Both technologies have similar customer benefits

A

b. Disruptive technologies introduce a different value proposition

27
Q

Dynamically continuous innovation is:

a. A new product that causes behavior changes, but not necessarily consumption patterns. Ex: palm pilots and electric toothbrushes
b. A sting of innovations that immediately captures market share over 10%
c. A pull pipeline that routinely delivers successful new products
d. A series of new products which offer incremental improvement over the previous product

A

a. A new product that causes behavior changes, but not necessarily consumption patterns. Ex: palm pilots and electric toothbrushes

28
Q

Cooper suggest that senior management in NPD is key in:

a. Determining what type of market research is needed
b. Strategy development and execution
c. Understanding the NPD process
d. All of the above

A

b. Strategy development and execution

29
Q

A SWOT analysis is usually done:

a. When developing corporate strategy
b. When conducting a market opportunity analysis
c. When reviewing goals of NPD
d. When determining what features a customer will buy

A

a. When developing corporate strategy

30
Q

An organization’s value statement is:

a. A depiction of the desired future state of the organization
b. A statement of a company’s philosophy and business strategy
c. A statement of values and behaviors the organization intends to follow
d. All of the above

A

c. A statement of values and behaviors the organization intends to follow

31
Q

According to Miles and Snow, the strategy type where one sees a lot of incremental product improvements is:

a. Prospectors/1st to market
b. Defenders/Niche

C. Reactors/Reactive

d. Analyzers/Fast followers

A

C. Reactors/Reactive

32
Q

Today we continue to build on 20 years of expertise in biopharmaceutical research and development. We are focusing on new products and research to treat disease in the following organs: x, y and z. This statement is an example of:

a. Corporate Market Opportunity Analysis (MOA)
b. Corporate value statement
c. PIC
d. Corporate NPD strategy

A

d. Corporate NPD strategy

33
Q

Most product development projects in new product developments are:

a. Line extensions
b. Product improvements/incremental improvement projects
c. New to the company products
d. New to the world projects

A

b. Product improvements/incremental improvement projects

34
Q

Ingredients in a platform may include:

a. A clear understanding of underlying elements
b. A distinguishable and defining technology
c. Emphasis on strategic success
d. All of the above

A

d. All of the above

35
Q

In the BCG’s Arena Assessment Matrix we have Dogs, Cash Cows, Wildcats, and Stars quadrants. Which represents “High arena attractiveness” and “low bsuiness stregth/relative market share”?

a. Cash Cows
b. Wildcats
c. Stars
d. Dogs

A

b. Wildcats

36
Q

In a 1997 PDMA study on best practices in product development, the “best in bringing new prodcuts to market” were defined as those organizations that achieved at least 49% of their sales from products not in their product lines 5 years previosly. Which of the following is a key best practive of these organizations?

a. Focus on speed to market and have the fastest cycle times in their industry
b. Make organizational changes at least once every 2 years
c. Drive NPD through a well thought out strategy
d. Use financials to make all new product develipment decisions

A

c. Drive NPD through a well thought out strategy

37
Q

A corporate values statement may reflect an organization’s beliefs about:

a. Stewardship
b. Treatment of employees
c. The organization’s work environment
d. All of the above

A

d. All of the above

38
Q

Prospector strategy focuses primarily on metrics associates with:

a. % of sales from new products
b. Market share
c. Customer satisfaction
d. IRR and ROI

A

a. % of sales from new products

39
Q

Early adopters are:

a. Customers who participate in NPD research
b. Customers who purchase new products without trying them sight unseen
c. Businessess that are new in their corporate life, not a mature company
d. Customers who buy into new product concepts early in their life cycle by relying on their own intuition and cision and also companies who will try new processess instead of just maintaining the old status quo

A

d. Customers who buy into new product concepts early in their life cycle by relying on their own intuition and cision and also companies who will try new processess instead of just maintaining the old status quo

40
Q

Markets, prodcust and technology make up the:

a. PIC
b. Role of senior management in NPD
c. Arena of innovation
d. Strategic area/arena of focus

A

d. Strategic area/arena of focus

41
Q

In the BCG’s Arena Assessment Matrix we have Dogs, Cash Cows, Wildcats, and Stars quadrants. Which represents “low arena attractiveness” and “low bsuiness stregth/relative market share”?

a. Cash Cows
b. Wildcats
c. Stars
d. Dogs

A

d. Dogs

42
Q

Miles and Snow describe a defender’s strategy as:

a. Responding only when forced by a strong environmental pressure
b. Simply responding to whatever is happening in their chosen field
c. A first to market organization
d. Locating and maintaining a secure niche in a stable product or serivce area

A

d. Locating and maintaining a secure niche in a stable product or serivce area

43
Q

Having a clear understanding of underlying elements; having a distinguishable defining technology; and having an emphasis on strategic issues and not tactical factors are characteristics of which of the following types of strategy:

a. Project
b. Sustaining
c. Innovation
d. Platform

A

d. Platform

44
Q

Best practice for a technology srategy would be:

a. Have an overall technology strategy to guide all the firm’s NPD efforts
b. Allow team leaders to determine the appropriate strategy needed for their project
c. Have a spearate technology strategy for each major new product under development
d. Have a separate strategy for technology that is NOT product specific

A

d. Have a separate strategy for technology that is NOT product specific

45
Q

With disruptive technologies the:

a. Product quality is high
b. Best strategy is to be first to market
c. Technology basis is familar
d. Technology is different and new

A

d. Technology is different and new

46
Q

A new product strategy should:

a. Push technology advances for NPD
b. Begin with a vision statement
c. Maximize internal resources with external opportunities
d. Articulate senior management goals

A

c. Maximize internal resources with external opportunities

47
Q

Radical innovations have:

a. New to the world features
b. New features that a customer may not even have thought about
c. New customer value propositions
d. New technology that creates a new market

A

d. New technology that creates a new market

48
Q

The Arena area of the PIC addresses the organization’s stregths in technology, core competencies and:

a. Days to launch
b. Types and attractiveness of markets
c. NPD process used for new product development
d. Platform strategy

A

b. Types and attractiveness of markets

49
Q

According to Miles and Snow, development program ROI would NOT be a key metric for which of the following strategy types?

a. Reactors
b. Defenders/Niche
c. Prospectors/1st to market
d. Analyzers/Fast followers

A

c. Prospectors/1st to market

50
Q

An accepted way to increase shareholder value includes which of the following?

a. Acquisitions
b. Develop new products
c. Cost reduction
d. All of the above

A

d. All of the above

51
Q

A PIC is valuable for which of the following reasons:

a. To clarify new product project purpose and team memeber roles and responsibilities
b. To define the new product project milestones and detailed team deliverables
c. To identify new product projects risks, contingency plans and financials
d. To provide focus and direction for a new product concept

A

d. To provide focus and direction for a new product concept

52
Q

According to Miles and Snow, the strategy type where one sees a lot of incremenatl product improvement is:

a. Analyzer/Fast follower
b. Prospector/1st to market
c. Reactors
d. Defendors/Niche

A

c. Reactors

53
Q

According to Christensen, a simpler more convenient product that sells for less money and appeals to a new or previously unattractive customer set is a:

a. Sustaining innovation
b. Innovative product
c. Breakthrough innovation
d. Disruptive innovation

A

d. Disruptive innovation

54
Q

New products include:

a. New to the world products or breakthroughs
b. New category entires or platforms
c. Additions to product lines, or enhancements
d. All of the above

A

d. All of the above

55
Q

Organizational strategy indicates:

a. The basic metrics that will be used to determine new product success
b. The role of NPD in acheiving the organization’s business goals
c. The platforms used for NPD
d. The structure under which new products will be developed

A

b. The role of NPD in acheiving the organization’s business goals

56
Q

Miles and Snow suggest that which of the following strategies can lead to success in NPD?

a. Prospectors
b. Analyzers
c. Defenders
d. Reactors
e. All of the above

A

e. All of the above

NPD (7 decks)

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