wpc 480 final exam (Questions with correct answers)

Lillypad Toys is a manufacturer of educational toys for children. Six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. Three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. What should Lillypad's managers prepare for next? a) a prolonged period of uncontested success b) a difficult struggle to move from invention to innovation c) increased competition from imitators d) a sharp decline in demand for the product correct answers c) increased competition from imitators steps in the innovation process correct answers idea, invention, innovation, imitation A(n) ______ leverages new technologies to attack existing markets a) radical innovation b) architectural innovation c) incremental innovation d) disruptive innovation correct answers d) disruptive innovation which of the following is a feature of the shakeout phase of the industry life cycle? a) market demand in this stage primarily consists of first-time adopters b) the mode of competition shifts from price to non-price in this stage c) there is a rapid industry growth during this stage d) competitive intensity within the industry increases correct answers d) competitive intensity within the industry increases which of the following statements accurately brings out the difference between technology enthusiasts and early adopters? a) firms need to communicate products' potential applications in a more direct way when attracting technology enthusiasts rather than early adopters b) while the customer segment in the introduction stage consists of early adopters, the customers entering the market in the growth stage are technology enthusiasts c) while early adopters make up the smallest market segment, technology enthusiasts make up the mass market d) unlike technology enthusiasts early adopters' demand is fueled more by intuition and vision rather than technology concerns correct answers d) unlike technology enthusiasts, early adopters' demand is dueled more by intuition and vision rather than technology concerns Although Mountaintop Electronics still sells its DVD players, a product in its decline stage, the investments made by the company on improving or marketing the product are very low. The company has allocated the least amount of human and financial capital to this department. Which of the following strategies has Mountaintop Electronics adopted in this scenario? a) consolidation strategy