Operations Management
2nd Edition
ISBN: 9781260484687
Author: CACHON, Gerard
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 20, Problem 16CQ
Summary Introduction
To Determine: The purpose of building a minimum viable product.
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Creative Homework/Short Projecr As a member of anevv product team with your company, you are working to develop an electric car jack that would makechanging car tires easier. You are considering conducting a test market for this nevv product. Outline thepros and cons for test marketing this product. Whatare your recommendations?
With regard to the various stages of the new product development process:
Group of answer choices:
A) screening involves evaluating the idea in terms of a new-product checklist.
B) new product ideas are generated during the test marketing stage.
C) from a marketing perspective, scientists are the ideal source of ideas.
D) a product's profit potential is estimated in the idea generation stage.
Chapter 20 Solutions
Operations Management
Ch. 20 - Prob. 1CQCh. 20 - Prob. 2CQCh. 20 - Prob. 3CQCh. 20 - Prob. 4CQCh. 20 - Prob. 5CQCh. 20 - The Kano model classifies needs into three...Ch. 20 - Prob. 7CQCh. 20 - Prob. 8CQCh. 20 - Prob. 9CQCh. 20 - Prob. 10CQ
Ch. 20 - Prob. 11CQCh. 20 - Prob. 12CQCh. 20 - Prob. 13CQCh. 20 - Prob. 14CQCh. 20 - Prob. 15CQCh. 20 - Prob. 16CQCh. 20 - Prob. 17CQCh. 20 - Prob. 18CQCh. 20 - Prob. 19CQCh. 20 - Prob. 1PACh. 20 - Prob. 2PACh. 20 - Prob. 3PACh. 20 - Prob. 4PACh. 20 - Prob. 5PACh. 20 - Prob. 6PACh. 20 - Prob. 7PACh. 20 - Prob. 2.1CCh. 20 - Prob. 2.2CCh. 20 - Prob. 2.3C
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- Which one of the below is not step in Product development program? a. Cost-benefit analysis b. Branding c. Consumer testing of the model d. Packaging and labeling.arrow_forwardx. Test marketing is a strategy used by companies to asssess the customer views about their new product or a marketing campaign before a new product is launched in the market on a large scale. It is used across the business world to find out what consumers want and need in their everyday lives. Describe the steps that a shoe manufacturing company can follow in test marketing their product.arrow_forwardA. Being a consumer of cookies, what are the qualities do you consider before buying the cookies at hypermarket? B. What will be the role of quality control inspector in this production process of cookies? Briefly explain. C. A small percentage of cookies is stored temporarily in the company’s warehouse, but they must be shipped shortly because of their limited shelf life due to not using preservatives. Based on this statement, what are the advantages and limitations associated with not using preservatives in cookies by Lew-Mark?arrow_forward
- Q4: Diagrammatically explain the stages of new product development. Which of these can be associated with creating the market myopia? Q5: Which sampling techniques can be used to gain consumer insights regarding innovative products? Explain. Q6: Draft a marketing research plan of launching a telecommunication brand.arrow_forward4. Happy Toy Company's R&D The Happy Toy Company's R&D department is always looking for great ideas for new toys. On average, the R&D department generates about 10 new toy ideas a week. To go from idea to approved product, the idea must go through 5 stages: Pr(Fail) = 40% Pr(Fail) = 50% Pr(Fail) = 65% Pr(Fail) = 80% Initial Safety testing Focus Final decision Mockup screening group In initial screening a staff member spends 2 hours considering the idea. In mock-up, the idea is sent to one of many suppliers to produce a physical mock-up of the toy. There is essentially unlimited capacity at this stage, but it takes 4 days to get the mockup built even though multiple mockups can be built simultaneously. In safety testing each idea requires 2 days from a staff member to have the idea checked for safety. In focus groups each idea requires 3 hours from a staff member to have the idea test marketed. Finally, the management team meets for 4 hours per idea to decide if the toy should be added…arrow_forwardCompliance with nondiscrimination rules can be achieved by way of two methods. Which are the two methods? Select one: a. Safe harbor and voluntary annual DOL audit b. Safe harbor and nondiscrimination testing c. Voluntary annual DOL audit and nondiscrimination testing d. Nondiscrimination testing and matching contributions to all participantsarrow_forward
- Assume that a draft specification is “a comfortable weight.” Brian wants to wait until aprototype is designed, built, and tested with a customer. Fernando wants to use a target of 650gand adjust it later. Who is right? Why?arrow_forwardThe correct implementation of new product development process helps minimize the risk of product failure. In a stage of that process, products undergo rigorous tests to makesure that they perform safely and effectively, or that consumers will find value in them.1. Identify that stage of the new product development process.2. Define the stagearrow_forwardChoose the best ANSWER 1- What is the best need/benefit-oriented approach to defining a car? Descriptions of a car's engine size and features Outlining the warranty that comes with the car Describing how it provides more efficient and reliable transportation Showing the beautiful color and styling 2- What is the best way for TWU to define their "market" in a marketing sense? the location of their buildings current and potential students the faculty and staff delivering the product the mix of programs they offer 3- Which of the following is not recommended for a marketing plan? Communicate the plan to appropriate managers. Once you have a good plan in place, do not change it for at least a year. Marketing plans should be creative. Use common sense. 4- Which of the following is not a current trend (described in book/class)? Increasing consumer demands Decreasing price sensitivity among consumers Overall decrease in brand loyalty Increasing…arrow_forward
- e-Test uitiple Choice. Select the letter of your answer. 1. The income statement is a statement that shows the result of the operation of the business. In the first quarter of its operation the business has a revenue of Php155,000 and cost and expense amounting to Php80,000. How much is the net income of the business? C. Php75.00 d. Php235,000 a. Php155,000 b. Php80,000 INFINIX HOT 9 PLAY Al CAMERA ntatement are nominal or temporaryarrow_forwardLetz Products has two decisions to make, with the second decision dependent on the outcome of the first. The company intends to build a new plant. Letz has the option of conducting its own marketing research survey for which the results will either be positive or negative. The information from this survey could help it decide whether to build a large plant, to build a small plant, or not to build at all. Letz recognizes that although such a survey will not provide it with perfect information, it may be extremely helpful. Using figure 1 – explain to your client (Letz) what the above decision tree shows. You are required to show all working.arrow_forwardYou have 10 identical cartons each holding 10 water bottles. All bottles weigh 10 oz. each, except for one defective carton in which each of the 10 bottles weighs on 9 oz. only. A scale is available for weighing. (a) Suggest a method for locating the defective carton. *(b) What is the smallest number of times the scale is used that guarantees finding the defective carton? (Hint: You will need to be creative in deciding what to weigh.)arrow_forward
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