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Ans: In: in Class Assessment Two Innovation Management Dr. Ioseb Gabelaia

This document contains an in-class assessment for an innovation management course. It includes 7 multiple choice or short answer questions that assess topics like the role of marketing in product innovation, factors that affect adoption of innovative products, how market vision and patterns of consumption influence new product success or failure, the role of entrepreneurship in innovation, and whether firms should introduce highly innovative or similar products.

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Bharath.v kumar
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72 views2 pages

Ans: In: in Class Assessment Two Innovation Management Dr. Ioseb Gabelaia

This document contains an in-class assessment for an innovation management course. It includes 7 multiple choice or short answer questions that assess topics like the role of marketing in product innovation, factors that affect adoption of innovative products, how market vision and patterns of consumption influence new product success or failure, the role of entrepreneurship in innovation, and whether firms should introduce highly innovative or similar products.

Uploaded by

Bharath.v kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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In Class Assessment Two

Innovation Management
Dr. Ioseb Gabelaia

1. What role should marketing play in the early stages of product innovation? (1 Point)
Ans: in product innovation, marketing contributes to the identification of future and new
market opportunities and research into customer needs like Research into customer
requirements in specific market segments or product categories.

2. List some of the factors that affect the adoption of highly innovative products. (1 Point)
Ans: Relative advantage, compatibility, complexity, trialability, and observability

3. Explain how market vision can help the innovation process. (1 Point)
Ans: The vision of the point of interaction between potential customer and potential
product that is, enables the firm to develop new products that are likely to meet customer
needs and wants, especially those of major users.

4. How does the pattern of consumption influence the likely success or failure of a new
product? (1 Point)
Ans: To success or failure a new product those factors are involved in new product
development are Knowledge Management, Market Orientation, New Product
Development Teams, Technology and Top Management Support.

5. Explain the role played by entrepreneurship in innovation. (1 Point)


Ans: In order to create an outstanding product, strong brand and to build your customer
network.

6. Given that the internet, and now mobile banking, has been available for over 20 years, do
you think internet banking has crossed the gap? Is it always just a matter of time and, so
long as you are patient, products will always eventually succeed? (2.5 Points)
Ans: The Internet is a piece of everyday existence of by far most of the total populace,
another type of collaboration and correspondence is increasing in more noticeable
quality. Online informal communities have turned into a road where organizations can
expand their advertising methodologies, straightforwardly associating their brands to the
clients, and where buyers can share their insight, assessments and encounters with one
another. The point of this exploration paper is to look at the impact of interpersonal
organizations on shopper conduct. It explores the dimension of effect on each progression
of acquiring basic leadership procedure and endeavors to build up a model of the impact
of trust, saw handiness, comfort and network on purchaser's aim to purchase. It
additionally uncovers the relationship between the hours spent on the Internet ,
effectively partaking on the obtaining choice.
In Class Assessment Two
Innovation Management
Dr. Ioseb Gabelaia

7. If consumers are unwilling to embrace new products that impose a high degree of change
in the consumption pattern for consumers, does this mean that firms should introduce
only products that are similar to existing products? (2.5 Points)
Ans: Similar to the evaluation of how the new feature will be upgraded by customers, if
customer’s existing product will need to be changed to support with the new features.

Example: Company ABC might need to add photo classifications to each photo in the
system. This will mean that the customer’s existing photos will have to be updated

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