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DMS 301m Full Test Bank | Verified with 100% Correct Answers Innovation is viewed as a critical element in the success of a product's development. According to the lecture video, which firm's innovation strategy is different from the others? Apple Coca-Cola Google Netflix Coca-Cola uses increment...
Innovation is viewed as a critical element in the success of a product's development.
According to the lecture video, which firm's innovation strategy is different from the
others?
Apple
Coca-Cola
Google
Netflix
Coca-Cola uses incremental innovation. Coke has been very successful in introducing a
number of extensions to its cola line through such products as Diet Coke (or Coke
Light), Coke Zero, and Cherry Coke.
Strong brands have which of the following benefits?
Charge higher prices
Enjoy greater loyalty
Experience higher profitability
All of the above
When firms engage in co-creation, they face the challenge of having to reject customer
submissions and risk creating bad will with some of their most highly engaged
customers.
True
False
Which of the following are practical recommendations regarding co-creation?
The Rule of 1
Authenticity is critical
Patches & badges
All of the above
Which of the following are characteristics of sharing economy firms?
Two-sided platform
Crowdsourced supply
Access not ownership
All of the above
,The individuals who provide crowdsourced resources are often called "Prosumers".
True
False
What are the two key steps in the co-creation process?
Stimulation and financial reward
Financial reward and social recognition
Contribution and social recognition
Contribution and selection
Which of the following are key concepts for the Product portion of the marketing mix?
Product quality
Managing a firm's product line
Product service support
All of the above
In my research on the topic of customer co-creation, my colleague Matt O'Hern and I
identified four different types of customer co-creations as illustrated by a 2x2 matrix.
Which of the following types of co-creation are NOT included in this matrix:
Submitting
Collaborating
Fixing
Co-designing
In addition to giving rides to passengers, which of the following additional offerings are
provided by Uber:
Food delivery service
Transportation by motorcycle in a number of countries such as India, Indonesia, and
Pakistan
Subsidiary that allows individuals to rent bicycles
All of the above
The sharing economy is defined as "technology-enabled platforms that provide users
with temporary access to resources that may be crowdsourced." This definition has
which of the following key components:
Inherently digital in nature
Temporary access rather than permanent ownership
Resources that are accessed are often (but not always) owned by external individuals.
All of the above
,The Chicago-based t-shirt manufacturer, Threadless, has no design staff. All of its t-
shirts are designed and selected by its customers using a web-based platform. What
approach does Threadless use for both product development and branding decisions?
Firm-centered approach
Brand managers decide themselves
Customer co-creation approach
None of the above
Which of the following statements is TRUE about the concept of co-creation?
Most successful co-creation efforts reward successful co-creators just financially.
Customers usually care about your products and have incentive to spend their valuable
time giving your ideas.
Contributions made by customers assist a firm in the design and development of a new
product offering.
To successfully employ co-creation, firms need to enhance some controls and be more
secretive about their product development activities.
What is the meaning of prosumer?
Producer & summary
Program & consumer
Producer & consumer
Production & summary
What type of co-creation does Lego use in its Ideas.Lego platform?
Submitting
Collaborating
Tinkering
Designing
In the reading, Eckhardt, G. M., & Bardhi, F. (2015, January 28). The sharing economy
isn't about sharing at all. Harvard Business Review, Sharing is described as a form of
social exchange that takes place among people known to each other, without any profit.
True
False
Promotion is defined as the methods of communication that a marketer uses to provide
information about its product.
True
False
, According to the lecture video, what is the second most recognized word in the world?
Fine
OK
Coke
Good
Which of the following is a characteristic of User-Generated Content (UGC)?
The contribution is by users of a product rather than the firm that sells this product.
It is creative in nature and the user adds something new
It is posted online and generally accessible.
All of the above.
User-Generated Content (or UGC) is non-commercial in nature and doesn't make any
direct promotional appeals.
True
False
A Doppelganger Brand Image or DBI is a collection of disparaging images and stories
about a brand circulated in popular culture by a loosely organized network of anti-brand
activists, bloggers, and opinion leaders.
True
False
Doppelganger brand images are usually focused on well-known brands that are viewed
as lacking authenticity and trying to create false or misleading emotional appeals
through their promotional activities.
False
True
Promotion entails which of the following activities?
Personal selling
Sales promotion
Word of mouth
All of the above
Which of the following is NOT mentioned in the videos as a company that utilizes User
Generated Content (or UGC)?
GoPro
Camelbak
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