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Exam 10: Innovative Strategies That Change the Nature of Competition

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Question 31

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Groups of people who share similar needs and thus are likely to desire the same features in a product are called ___.

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verified

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Question 32

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A radical innovative strategy in which companies in the same industry find the innovation so destructive that they can no longer do business as usual is called a(n)___.

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disruptive...

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Question 33

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Gem Inc. a clothing manufacturer, creates a new strategy to increase its customer base. Maya, a marketing student, observes that Gem engages in disintermediation, while Nate, her friend, believes that this observation is incorrect. Which of the following statements is likely to support Maya's observation?

Flytech Inc. is an online store where people and businesses buy and sell a broad variety of goods and services. Various brands pay Flytech to advertise and sell their products online. Which of the following is being exemplified in this case?

Identify a true statement about bundling strategy.

Inks Corp. is a manufacturer of pens. It creates a new product called HYPERLINK "http://en.wikipedia.org/wiki/Quink" \o "Quink" Quink, a quick-drying ink pen that does not require the use of blotting paper. It creates this product by building on its established knowledge of the properties of ink and the mechanisms of a pen. Which of the following innovations is being exemplified in this case?

Which of the following statements refers to incremental innovation?

Radical innovation strategies are sometimes referred to as disruptive innovation because ________.

A clothing manufacturer produces some basic models on a large scale. The customers can then choose print, color, embellishments, and size and place a specific order. Which of the following is being exemplified in this case?

A cell phone manufacturing company gives away a free case with a purchase of any product higher than $50. Which of the following is being exemplified in this case?

Prints Inc., offers visiting cards, brochures, business cards, and personalized greeting cards. It allows customers to choose from a set of modules and create their own designs. Which of the following is being exemplified in this case?

A salon that specializes in haircuts comes up with a new service that sets it apart from those of its rivals. Clients are requested to send in their photographs; the stylists then create a set of digital images with various looks. Once the client chooses a desired look, a stylist goes to the client's home to deliver the service. The strategy of creating digital images, which requires a unique set of resources and skills, is an example of a(n) ___________.

A telecommunications service provider, Chrome Inc., creates a new application for its users. The application allows users to make free calls through the Internet. While this increased the number of paid subscribers of Chrome, its competitors who levied a fee for their telecommunication services lost their customers. This is an example of a ___________.

J.J. Inc., a software company, was the first to create a customized messenger application. The subscribers can choose the features they wish to install. The value offered by J.J. is different from its competitors in the market. Which of the following is being exemplified in this case?

Strategies that draw on more radical innovations ________.

Stars Corp. decides to eliminate activities associated with collecting and storing the products by directly distributing the finished goods to its customers. This enabled Stars to reduce the total cost. Which of the following is being exemplified in this case?

Which of the following statements is true of a firm that creates a radical innovation?

Which of the following is a characteristic of products created through top-down disruptive innovation?

Which of the following statements is true of a high-end disruptive innovation?

Crimson Inc. initially introduced a new gadget to the niche market. Eventually, other organizations provided the same product at a lower price. Hence, Crimson had to reduce the price of the gadget to the market price. This is an example of a ___________.