NPD Week 4 Review

Which of the following is a key challenge in the New Products Process?

• Lack of financial resources

• High product failure rates

• Overdependence on traditional marketing

• Strict government regulations

In the Three-Horizon Framework for innovation, what does Horizon 3 represent?

• Core Innovation

• Adjacent Innovation

• Transformational Innovation

• Incremental Innovation

According to the VRIO Framework, what factor determines whether a product provides a sustained competitive advantage?

• High advertising budget

• Resource rarity and inimitability

• A low-cost pricing strategy

• Extensive market segmentation

In the Diffusion of Innovation Theory by Everett M. Rogers, which group is the most resistant to adopting new products?

• Innovators

• Early Adopters

• Late Majority

• Laggards

Which factor is NOT part of the 4Ps of Innovation?

• Product Innovation

• Position Innovation

• Price Innovation

• Process Innovation

What is the main purpose of the Product Innovation Charter (PIC)?

• To analyze consumer behavior

• To set strategic direction for new product development

• To increase manufacturing efficiency

• To assess financial feasibility of projects

Which phase of the New Products Process involves testing prototypes and scaling up production?

• Opportunity Identification

• Concept/Project Evaluation

• Development

• Launch

What is the main reason why some new products fail during the Concept Evaluation phase?

• Poor team collaboration

• Unrealistic technology or production challenges

• Lack of financial investment

• Poor marketing strategies

What is an example of a "Must-Have" according to the Kano Model?

• Expected product quality

• Attractive packaging

• Sustainability features

• Unique flavors

What is the term for a “conditional Go” decision in the New Product Process that helps speed up innovation?

• Hollow Gates

• Fuzzy Gates

• Risk Gates

• Strategic Entry