Question 1

Explain why sometimes the follower and not the first mover of a new technology is more successful in the market place.

Accepted Answer

The answer of Explain why sometimes the follower and not...

Question 2

When S.C.Johnson Company came up with a new hair care product that repaired split ends,it spent money on market education and provided incentives to wholesalers and retailers to sell the product.This strategy will _____ the early adoption of this innovative product.

Accepted Answer

By spending money on market education and providing incentives to wholesalers and retailers to sell the product, S.C. Johnson Company is trying to accelerate the early adoption of the innovative product.

Question 3

Lee Peterson has invented a new product that detects water leaks due to broken pipes and sends out an alarm similar to a smoke alarm.However,Lee has very little personal money to invest in this new product.He finally raised enough money to enter the market and began to experience some success.The product was not patentable because it was too similar to other existing technologies.Major corporations saw his success and have now entered the market with competing products.What will be the probable destiny of Lee Peterson's company?

Accepted Answer

The answer of Lee Peterson has invented a new product...

Question 4

In the past,Apex Systems had successfully released 10 new products in the shoe gliding market.Today it is recognized as the market leader.It has just released a new shoe glider called SmoothShoe.How difficult will it be for Apex to get distributors to take on this new product?

Accepted Answer

Apex Systems has a proven track record of successfully releasing 10 new products in the shoe gliding market and has become the market leader. Distributors are likely to trust in this past record and be willing to take on the new product.

Question 5

Since SmoothShoe Inc.is the market leader in the gliding shoe industry,it enjoys an excellent reputation.It was the pioneer of this new market and currently holds 40 percent market share.Now SmoothShoe wants to introduce a new gliding shoe.Discuss how its reputation will affect its acceptance among distributors and consumers.

Accepted Answer

The answer of Since SmoothShoe Inc.is the market leader in...

Question 6

The text talks about the timing of entry strategies into the market for new products.What assumptions underlie the use of such strategies?

Accepted Answer

The answer of The text talks about the timing of...

Question 7

Jackson Laboratories has come up with a new diabetic blood sugar monitoring device that does not require patients to prick their fingers.It has determined that this new technology will quickly become the dominant method used by diabetics and will replace the old blood sugar monitoring devices Jackson currently sells.However,competitors might be able to easily imitate the device.Jackson should enter the market

Accepted Answer

Jackson should enter the market early in order to establish itself as the primary provider of this new technology before competitors have a chance to imitate the device. This can help build brand loyalty and market share, making it difficult for competitors to catch up.

Question 8

Apex is the leader in the shoe glider market while Summit is a new startup company.Both have just released new generation shoe gliders.Which entry is likely to be adopted more quickly?

Accepted Answer

Apex has an established reputation and is already the market leader, therefore consumers are more likely to trust and be familiar with their brand. Additionally, their new generation shoe gliders may be seen as an improvement on their already successful product, which could lead to a quicker adoption rate. Summit, on the other hand, is a new company without an established reputation, and may face challenges with gaining consumer trust and breaking into the market.

Question 9

Lee Peterson has invented a new product that detects water leaks due to broken pipes and sends out an alarm similar to a smoke alarm.However,Lee has very little personal money to invest in improving this new product.Seeing his initial technical success,major corporations have now entered the market with competing products.What will be the probable destiny of Lee Peterson's company?

Accepted Answer

Lee Peterson's lack of personal funds to invest in the product and the entry of major corporations with competing products make it highly likely that his company will be overtaken by a larger company or go out of business. The competition will make it difficult for his company to maintain its market share, especially if the larger companies have better resources to improve and market their products.

Question 10

Acme Products was late to enter the desk height adjuster market.However,Acme has vast financial resources compared to the 2 other small companies in this new market.Which of the following best represents Acme's chances of success?

Accepted Answer

Acme's vast financial resources give them a competitive advantage in the market, allowing them to outspend and invest more in the development and marketing of the product. This can increase their chances of success even though they were late entrants into the market.

Question 11

A firm with fast cycle development processes

Accepted Answer

A firm with fast cycle development processes can introduce a refined version of a competitor's technology because they can quickly identify and respond to market needs and improve existing technology. They may also be able to introduce new products and services faster than their competitors. However, they may also be more susceptible to quality problems if they prioritize speed over quality assurance. The fact that they can exit the market sooner is not necessarily an advantage, and having a first mover advantage is a separate concept from fast cycle development processes.

Question 12

Explain the reasons why more efficient keyboards were not able to replace the QWERTY keyboard.Which principle is illustrated in this scenario?

Accepted Answer

The answer of Explain the reasons why more efficient keyboards...

Quiz 5: Timing of Entry Part Two Formulating Technological Innovation Strategy