Operations Management
17th Edition
ISBN: 9781259142208
Author: CACHON, Gérard, Terwiesch, Christian
Publisher: Mcgraw-hill Education,
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Question
Chapter 20, Problem 5PA
Summary Introduction
To determine: The statement which gives correct idea of a minimum viable product.
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Students have asked these similar questions
Which of the following is a characteristic of products in the maturity stage of the product life cycle?
a. Laggards are a major focus of marketing efforts.
b. Price competition is minimal.
c. Manufacturing costs decrease because of streamlining production.
d. The market may become saturated because of developing competition.
e. Marketing costs increase as firms defend their market share.
This is also a good time to understand the customer's value proposition and their likely purchase behavior,
which will help the entrepreneur develop a more meaningful product or service.
What new product development process is mentioned?
Oa.
Testing the prototype
O b. Developing a product or service description
O c. Creating a prototype
O d. Validating the market
The following are examples of non-monetary benefits, except:
Oa.
maternity or paternity leave
O b. medical coverage
13th month pay
O d. flexibility in work schedule
Product differentiation refers to the:
a. Ability of the buyers of a product to negotiate a lower price. b. Response of incumbent firms to new entrants.
C. Customer perception that a product is unique.
d. Fact that as more of a product is produced the cheaper it becomes per unit.
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. 1CCh. 20 - Prob. 2CCh. 20 - Prob. 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
- What is the difference between primary needs and secondary needs?a. Primary needs are more important than secondary needs.b. Primary needs consist of multiple secondary needs.c. Primary needs are the needs that the product development team discovers first.arrow_forwardA new product may fail for many reasons. Which of the following is NOT one of them? O Rapid market acceptance O Poor product positioning O Poor product design Overestimated market sizearrow_forwardThis is the last step before launching a product or service. What new product development process is mentioned? O a. Developing a product or service description O b. Creating a prototype C. Validating the market O d. Testing the prototypearrow_forward
- What is the purpose of building a minimum viable product?a. To test the technical feasibility of the productb. To test whether or not the product can be produced economically at scalec. To test if consumers want to buy the productd. None of these options is correct.arrow_forwardWhich of the following statements is true of the product life cycle (PLC)? a. Changes in a product, its uses, its image, or its positioning do not affect its life cycle. b. A product spends the same amount of time in the different stages of the life cycle. c. The PLC for a product form is longer than the PLC for any one brand. d. The PLC dictates the marketing strategy to be used for a product.arrow_forwardWhich of the following statements best describes the idea of a minimum viable product?a. A prototype of a new product or service that tests the technical feasibility of the product.b. A prototype of the new production facility or service delivery organization that determines if the product or service can be produced economically at scale.c. A prototype of a new product or service that allows the team to collect the maximumamount of learning with the least amount of effort.d. None of these statements is correct.arrow_forward
- A weak product may be very costly to the firm, where hidden costs may fail the product's reputation and affect the overall company's image. ) True O Falsearrow_forwardWhich statement is true of product positioning? a. The quality of competing products does not influence product positioning. b. It is a process that influences potential customers' overall perception of a brand and product line. c. There are two positioning bases: application and price. d. It assumes that consumers compare products solely on the basis of price.arrow_forwardWhat is the third stage of new product development? a. Idea screening b. Concept development and testing c. Product development program d. Business analysisarrow_forward
- Scenario You are the senior software engineer at a start-up company developing exciting new product that will allow sales people to generate and email sales quotes and customer invoices from their smartphones. Your company's sales force has led a major corporation to believe your product will be available next week. Unfortunately, at this point the package still contains quite a few bugs. The leader of the tesling group has reported that all of the known bugs appear to be minor, but it will take another month of testing for his team to be confident the product contains no calastrophic errors, Because of the fierce competition in the smartphone software industry, it is critical that your company be the "first to market To the best of your knowledge, well-established company will release a similar product in a few weeks. If its product appears first, your start-up company will probably go of business. Questions 1. Should you recommend release of the product next week? 2. Who will…arrow_forwardWhen considering the new-product development process, which of the following statements is true of idea screening? a. It eliminates ideas that are inconsistent with an organization's new-product strategy. b. It calculates preliminary figures for demand, cost, sales, and profitability. c. It involves getting consumer reactions to visual representations of a proposed product. d. It involves making cosmetic or functional changes to existing products.arrow_forwardWhich of the following statements is true of product items? a. They are never made part of any product lines and are sold only in select outlets. b. They are the test products that are released by a company before starting a product line. c. They include all the products that an organization manufactures and sells to its consumers. d. They are distinguished by different container sizes and shapes such as cans or plastic bottles.arrow_forward
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