IT Management and Marketing Quiz-3 1. Relying on customer feedback is: (9%) Name: ____________ Student ID:__________ a. always important b. most important when developing radical innovations c. most important in turbulent markets d. most important when developing incremental innovations e. most important when competitive intensity is low 2. Firms that focus too narrowly on their established customers to the extent that they may be constrained in the strategies and technologies they choose to pursue are said to suffer from: (9%) a. marketing myopia b. core rigidities c. tyranny of the served market d. a competency trap d. market misery 3. ___________ is the process of creating, transferring, assembling, integrating, and exploiting informational assets. (9%) a. customer orientation b. market-driven management c. knowledge management d. innovation management e. organizational learning 4. What does the advice “ignore the customer” really mean? (9%) a. pay more attention to what people do rather than to what they say b. be technology driven rather than customer driven c. marketing research is useless when developing high-tech products d. engineers should go on customer visits e. marketers should try to lead customers to purchase products 5. The strategy of merging the interests of R&D and marketing is: (9%) a. consolidation b. co-optation c. collaboration d. consistency e. coercion 6. Which of the following is most useful for developing information that might lead to breakthrough products? a. survey research b. focus groups c. conjoint studies d. customer visit programs e. concept tests 7. Empathic design is a research technique based on the idea that: (9%) a. intuition is not an effective guide for decision-making b. standard research tools provide the most useful information c. customers should be able to quantify their needs d. users may not be able to articulate their needs clearly e. customers can envision the way new technology might be used 8. Conjoint analysis: (9%) a. is particularly useful for developing breakthrough products b. enables the analyst to assess how potential customers make trade-offs among different product attributes c. is useful when there is only one attribute under consideration d. should not be used for making pricing decisions e. both a. and b. 9. Please brief the properties of so-called “lead user”, and explain the contribution of the “lead user” concept to the technological innovation. (14%) 10. Why do some researches caution the firm not to become a “feedback fantastic?” (14%) 1 2 Answer: d Answer: c/a Page: 116 Page: 116 3 Answer: c Page: 112 4 Answer: a Page: 116 5 Answer: b Page: 122 6 Answer: d Page: 134 7 Answer: d Page: 138 8. Answer: b Page: 136 9. The lead users are customers that may face needs months or years before the bulk of the marketplace and, as such, are positioned to benefit significantly by obtaining solutions to those needs now and struggle with the inadequacies of existing products tend to innovate their own solutions to their needs. According to the von Hippel’s researches, most critical innovations originate from the users side, especially, the lead users, rather than the manufacturers. So, if the firms could seek and focus their products’ lead users, they may obtain important innovations faster and effectively. 10. A “feedback fantastic” firm means that listening too closely to customers can inhibit innovativeness. Customers may be inaccurate both in their positive endorsement of new products as well as in their rejection of new ideas. They may reveal bad information in order to resist switching to new models of product because of habitation and sunk cost. They also may be the latent users, so they are not aware of new idea, nor able to articulate the immediate demands. The firms should be careful to what the customers said.