Online Quiz 1_ Fall 2022 Semester New Product Management (MKTG-671-001, MKTG-671-002)

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Fordham University *

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Course

ITEC154

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Industrial Engineering

Date

Apr 3, 2024

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pdf

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3

Uploaded by MagistrateSparrow2595

Online Quiz 1 Due Sep 9 at 9am Points 50 Questions 5 Available Sep 6 at 9am - Sep 9 at 9am Time Limit None Allowed Attempts 2 Attempt History Attempt Time Score KEPT Attempt 2 1 minute 50 out of 50 LATEST Attempt 2 1 minute 50 out of 50 Attempt 1 15 minutes 37.5 out of 50 Correct answers will be available on Sep 9 at 9am. Score for this attempt: 50 out of 50 Submitted Sep 7 at 8:04pm This attempt took 1 minute. 10 / 10 pts Question 1 A successful new product is one that : (Choose all that might apply) Generates profits Can be a radical innovation or an incremental innovation Uncovers and serves a latent need Satisfies an existing need better 10 / 10 pts Question 2
As illustrated by the case of Crystal Pepsi the success of a new product is measured by: (Choose the "best" answer) Approval during focus groups Positive response to test marketing Trial rate Both the trial rate and repeat purchases 10 / 10 pts Question 3 The probability of success of a new product is 0.4. If successful , the company launching the product will make a profit of $5 million. If the product fails, the company will incur a loss of $ 2 million. If the company were to make the decision to launch based on the concept of "Expected Value", should the company launch the product? (Assume only two possible outcomes: success or failure) Do not launch Launch 10 / 10 pts Question 4 Read the article "The Half-Truth of First-Mover Advantage" . Answer the question: Hoover is an example that fits into which of the four quadrants in the exhibit:The Combined Effects of Market and Technological Change ?
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