Please Answer True or False 1 Product managers are often responsible for driving innovation within their organizations. 2 Product innovation is a team sport, involving specific people throughout an organization. 3 There might be aneed to tap into the potential for inspiration your sales, support, marketing, HR, even legal teams might experience. 4 A company can reap benefits by innovating its external processes, how the company gets market feedback, or even the way it arranges the office. 5 One great way to tap the collective creativity across your company is to show them the things your team is trying with your competitors' products. 6 The product management teams often overlook the wealth of perspectives and experiences they have right in their own organizations. 7 The Sales department sees your market a little differently from your marketing team, which has a different perspective from your support teams, and everyone sees things differently from engineering and design. 8 Sometimes thinking only about your competitors' products can create tunnel vision, a view that’s too limited to allow for those big innovative ideas that could lead the massive success. 9 In today’s technology driven market, the importance of product development is still not yet well established. 10 The development phase not only helps to determine the functional performance of a product but also helps to determine the financials of the product itself. 11 The incremental product innovation reduces the amount of effort and learning that must be done and, consequently, the amount of time needed to invest in the new product prior to its launch. 12 A major increase in the performance of the product could help the company grab a significant portion of the market share. 13 The development capability hurdle needed to profitably undertake a new project increases with the total existing product reliability of all products readily available in the market. 14 The product development capability decreases with the product category demand rate, the profit margin, the market share lost to the competitors, and the window of opportunity of releasing the new product. 15 One of the most important things to consider is that an improvement in the product’s performance guarantees a shorter time-to-market. 16 Fast release of the product in the market was not better if the product being replace has a high margin or if the new product has a large market potential. 17 The diffusion of innovations manifest themselves in different ways in various cultures and fields and is highly objective to the type of adopters and innovation decision process. 18 Marketers are particularly interested in the diffusion process as it determines the success and failure of any new product introduced in the market. 19 Marketers usually look forward to procuring the largest amount of adoption within the shortest period of time. 20 The marketer needs to understand the adoption process so as to ensure proper management of the spread of the new product or service. 21 The rate of adoption is defined as the relative exposure with which members of a social system adopt an innovation 22 Diffusion is usually measured by the length of time required for a certain percentage of the members of a social system to adopt an innovation. 23 The adoption process is an individual phenomenon describing the series of stages an individual undergoes from first hearing about a product to finally adopting it. 24 The adoption process essentially encompasses the diffusion process of several individuals over time. 25 An individual might reject an innovation at any time during or after the adoption process. 26 Consumers who are interested in new products will be more attentive in comparing from competition during the diffusion part of the product offering 27 Product adaptation is concerned with how customers learn about the new product for the first time and make decisions to become its first time users. 28 Trial can be stimulated by marketing activities. Free samples and coupons are quite effective at stimulating trial as they effectively reduce the potential risk surrounding trial for many consumer non-durable products, particularly convenience goods. 29 Reducing the risk of trial is most critical for consumer durable products because these products are typically more expensive. Marketers reduce the perceived risk of trial for such products by offering generous warranties and return policies. 30 The speed with which a new product diffuses through a social group is a function of the fact that different people adopt new products at different frequency
Please Answer True or False
1 Product managers are often responsible for driving innovation within their organizations.
2 Product innovation is a team sport, involving specific people throughout an organization.
3 There might be aneed to tap into the potential for inspiration your sales, support, marketing, HR, even legal teams might experience.
4 A company can reap benefits by innovating its external processes, how the company gets market feedback, or even the way it arranges the office.
5 One great way to tap the collective creativity across your company is to show them the things your team is trying with your competitors' products.
6 The product management teams often overlook the wealth of perspectives and experiences they have right in their own organizations.
7 The Sales department sees your market a little differently from your marketing team, which has a different perspective from your support teams, and everyone sees things differently from engineering and design.
8 Sometimes thinking only about your competitors' products can create tunnel vision, a view that’s too limited to allow for those big innovative ideas that could lead the massive success.
9 In today’s technology driven market, the importance of product development is still not yet well established.
10 The development phase not only helps to determine the functional performance of a product but also helps to determine the financials of the product itself.
11 The incremental product innovation reduces the amount of effort and learning that must be done and, consequently, the amount of time needed to invest in the new product prior to its launch.
12 A major increase in the performance of the product could help the company grab a significant portion of the market share.
13 The development capability hurdle needed to profitably undertake a new project increases with the total existing product reliability of all products readily available in the market.
14 The product development capability decreases with the product category demand rate, the profit margin, the market share lost to the competitors, and the window of opportunity of releasing the new product.
15 One of the most important things to consider is that an improvement in the product’s performance guarantees a shorter time-to-market.
16 Fast release of the product in the market was not better if the product being replace has a high margin or if the new product has a large market potential.
17 The diffusion of innovations manifest themselves in different ways in various cultures and fields and is highly objective to the type of adopters and innovation decision process.
18 Marketers are particularly interested in the diffusion process as it determines the success and failure of any new product introduced in the market.
19 Marketers usually look forward to procuring the largest amount of adoption within the shortest period of time.
20 The marketer needs to understand the adoption process so as to ensure proper management of the spread of the new product or service.
21 The rate of adoption is defined as the relative exposure with which members of a social system adopt an innovation
22 Diffusion is usually measured by the length of time required for a certain percentage of the members of a social system to adopt an innovation.
23 The adoption process is an individual phenomenon describing the series of stages an individual undergoes from first hearing about a product to finally adopting it.
24 The adoption process essentially encompasses the diffusion process of several individuals over time.
25 An individual might reject an innovation at any time during or after the adoption process.
26 Consumers who are interested in new products will be more attentive in comparing from competition during the diffusion part of the product offering
27 Product adaptation is concerned with how customers learn about the new product for the first time and make decisions to become its first time users.
28 Trial can be stimulated by marketing activities. Free samples and coupons are quite effective at stimulating trial as they effectively reduce the potential risk surrounding trial for many consumer non-durable products, particularly convenience goods.
29 Reducing the risk of trial is most critical for consumer durable products because these products are typically more expensive. Marketers reduce the perceived risk of trial for such products by offering generous warranties and return policies.
30 The speed with which a new product diffuses through a social group is a function of the fact that different people adopt new products at different frequency.
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