CHAPTER 12 CONNECTING INNOVATION TO CONSUMER BEHAVIOR

You are a marketing manager for a technology company looking to launch a new product. How can you ensure demand-first innovation and growth?

• A. Conduct extensive market research to know more about customers

• B. Focus on understanding the consumer's unmet needs and passions

• C. Focusing on company's current product offerings

• D. Focusing on consumer feedback

Why is research alone not enough to drive real innovation according to the text?

• A. Research is time-consuming

• B. Research only focuses on the company's products and services

• C. Research does not address consumer purchase decisions and needs

• D. Research is expensive considering primary and secondary researches and all the resources we have to use

What is the main goal of demand-first innovation and growth?

• A. To increase company profits and sales by implementing customer focus strategies

• B. To understand the consumer perspective and develop game-changing innovations

• C. To focus on product offerings and competencies

• D. To ignore consumer feedback

According to the text, how should marketers view their company's products and services?

• A. From the inside perspective

• B. From the consumers' perspective

• C. From the perspective of the competition

• D. From a financial perspective

What are the three core sets of activities outlined in the text for marketers to focus on in demand-first innovation and growth?

• A. Goal setting, product development, and sales strategies

• B. Understanding consumers as individuals, positively influencing their world, and seeing the company as consumers do

• C. Conducting market research, analyzing data, and creating advertisements

• D. Staying within the company's current product offerings and competencies

How can companies ensure they are driving value for customers through demand-first innovation?

• A. By following a three-part framework

• B. By avoiding innovation altogether

• C. By focusing on increasing profits

• D. By focusing on incremental changes

What are the three steps of the demand-first innovation framework laid out by Erich Joachimsthaler?

• A. Create a demand landscape, analyze competition, and increase marketing budget

• B. Reframe the opportunity space, focus on global expansion, and increase pricing

• C. Create a demand landscape, reframe the opportunity space, and formulate a strategic blueprint

• D. Increase product offerings, focus on technology, and ignore consumer feedback

What do marketers try to understand as they create a demand landscape according to the text?

• A. Goals, priorities, and consumer demographics

• B. Goals, activities, and priorities

• C. Product features, pricing, and promotion

• D. Company profits and market share

How can marketers understand the experience consumers have when taking action according to the text?

• A. By ignoring consumer feedback

• B. By focusing only on frustrations

• C. By drilling down to understand passions and pain points

• D. By conducting market research Primary and Secndary and get the customer feedbacks

What are the main components of creating a successful demand landscape according to the text?

• A. Analyzing competition, focusing on technology, and increasing pricing

• B. Goals, activities, and priorities

• C. Focusing on current product offerings, ignoring consumer feedback, and avoiding risks

• D. Analyzing data, conducting surveys, and making assumptions