Purpose of this Assignment:
To study and apply the concepts of Developing and Managing Products
Assignment Instructions:
- READ and STUDY the Chapter to prepare for this assignment.
- READ the Case Study associated for this assignment.
- YOU are required to type your responses using THIS WORD Typing Template – Do Not delete anything from the template.
- TYPE your Name at the TOP of the assignment.
- After you read and study the chapter, type up detailed quality answers to the following questions. College level writing is expected and required.
- Make sure the Line Spacing is at least 1.5 before you save it.
- TURN in by the DUE DATE and Time.
Questions:
- List and Explain each of the 7 steps in the new-product development process. Number them 1-7.
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- List 3 advantages of simultaneous product development. Number them 1-3.
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- Explain the importance of developing new products.
- List and Describe the 6 categories of new products. Number the 1-6.
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- What are some of the global issues in new-product development?
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- What is the diffusion process through which new products are adopted and HOW is it spread?
- Using the chart below List each of the 5 categories of adopters who participate in the diffusion of innovation process.
Include the percent (%) who adopt in each category and the characteristics of each.
Adopter Category | Percent (%) who adopt products | Characteristics of Adopters |
1) | ||
2) | ||
3) | ||
4) | ||
5) |
- What type of adopter behavior do you typically follow? Explain with a personal example or two.
- What are the 7 characteristics of Successful Product Introductions that companies practice? Number them 1-7.
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- List and define the 5 Product Characteristics used to predict and explain the rate of acceptance and diffusion for a new product.
Product Characteristic | Definition |
1) | |
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4) | |
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Watch the following video to help you understand Product Life Cycle – PLC:
- Traditional Product Life Cycle, 10:53 min, Jason Richea
(Note: You do NOT need to do the requested activity at the end of the video.)
http://www.youtube.com/watch?=wYeXCeBZhjE
- Using the chart below list the 4 stages of the Product Life Cyle and the characteristics of each stage.
PLC Stage | Characteristics of PLC Stage |
1) | |
2) | |
3) | |
4) |
- What is Cheerios doing to compete successfully in the maturity stage?
Go to its Web site, http://www.cheerios.com, to find out. You gotta check out the “It’s All Family” video (1 min) too cute!
Refer to the Chapter Case and Videos for the following questions:
- (2012) Tesla Motors Spotlight: Brand Strategy & Marketing, 5 min.
https://www.youtube.com/watch?v=xLOpuXNrBmI
- (2017) Three Ways Tesla’s Marketing Strategy is Leading the Way, 1.54 min.
https://www.youtube.com/watch?v=B4lkWO1TC5c
- Tesla Vehicle Engineering – Part 1, 3.26 min.
https://www.youtube.com/watch?v=TrbOLHW8Pec
- The Tesla Roadster – In Their Own Words, Part 1 (2010), 2.32 min.
https://www.youtube.com/watch?v=VQfHOqJtVZ8
Tesla, Published on Jul 13, 2010
- Model 3 Surprise, 1.53 min.
https://www.youtube.com/watch?v=e_Wnwb_cC3g
- TESLA – Check out their Website!
- Telsa’s new products have been successful, in part, because they have a well-defined new product strategy at their core and are driven by the corporate objectives and strategies of using electricity over gasoline when designing automobiles. True or False? Explain.
- TRUE or FALSE –
- Explain –
- Tesla employed simultaneous product development by having their hardware and their software design teams work together on the autonomous automobile initiative. True or False? Explain.
- TRUE or FALSE –
- Explain –
- New products are important because they do all of the following EXCEPT which of the following? Explain your response. BOLD the correct response.
- sustain growth
- increase revenues and profits
- extend resources
- replace obsolete items
- Answer –
- Explain –
- The Tesla Model 3 is what category of new product? Explain your response. BOLD the correct response.
- improvement/revision to existing product
- new-to-the-world product
- new product line
- repositioned product
- lower-priced product
- Answer –
- Explain –
- New product ideas can come from all of the following sources EXCEPT: BOLD the correct response.
- employees
- customers
- distributors
- competitors
- New product ideas can come from all of these.
- Answer –
- Explain –
- The addition of the self-driving hardware to Tesla cars in considered a(n) __________. Explain your response. BOLD the correct response.
- diffusion
- experiment
- commercialization
- innovation
- Answer –
- Explain –
- Which of the following characteristics will NOT have an impact on decisions for early adopters of the Tesla Model 3? Explain your response. BOLD the correct response.
- compatibility
- observability
- complexity
- relative advantage
- Answer –
- Explain –
- What have you personally learned and taken away from studying the concepts in this unit of study?
- How do you turn in assignments?
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