Innovation and New Product Strategy QUIZIZ

Type of Innovations for new product, except :

• Transformational Innovation

• Substantial Innovation

• Incremental Innovation

• Elimintal Innovation

If a company develops a new product, method, strategy, or process, it is known as a(n)

• Innovation

• Creative Output

Asia’s company comes up with a new method to manufacture its product that saves time, money, and effort. This is known as __________ innovation.

• positioning

• process

A company decides to start marketing its health food bar as a candy bar. Which type of innovation is taking place?

• paradigm

• positioning

Innovation does not include:

• introduction of a new product;

• 
  creation of a new market for goods;

• reorganization of the management structure of the organization;

• invention.

The planning function in innovation management is aimed at:

• 
  approval of the activities of all chains of the management system, the apparatus of research units and individual specialists;

• 
  development of prospects for scientific and technical development;

• substantiation of the main directions of innovative activity in accordance with the developed forecasts and goals of the enterprise's development;

• execution of planned tasks and unification of people who together carry out innovative plans, programs and projects.

Which is the starting point for starting the new product launch :

• availability of capital

• 
  idea

• self confidence

Price strategies become more mixed during the ________ stage of the product life cycle.

• growth

• maturity

• decline

• introduction

• late introduction

A group of closely related product items that are related because of marketing, technical or end-use considerations is a product:

• category.

• dimension.

• extension.

• line.

• 
  mix.

An innovation must differentiate itself from the competition and be distinguished by at least one unique feature.

• 
  TRUE

• FALSE