BA 370 - Chapter 12 Exam Questions and
Answers with Verified Solutions | Latest
Updated 2026
_____ is the process by which are transformed into new products and
ideas services that
1
will help firms grow.
_____ of innovation is the process which the use of an innovation, whether a
by product
2 or a service, spreads throughout market group over time and over various
a categories
of adopters.
Adding new products is MOST to prompt consumers to purchase in which
likely of the
3
following industries?
_____ is the process by which Innovation
ideas are
transformed into new products and
services that will help firms grow.
What objectives do firms have in To keep customers from getting bored with
adding new products, services, existing products
and To satisfy the changing needs of
processes to their offerings? consumers
,What will happen to a firm if it It will eventually decline.
continues to produce the same
products in a saturated market?
One advantage of product Diversification
innovation is that a firm can
expand
into different product categories.
The point of the risk ______
strategy is
that if some products in one
category are competing poorly,
others in another category could
be
doing very well.
Adding new products is MOST Video games
likely
to prompt consumers to purchase
in
which of the following industries?
Without innovation, what options Continue to market current products to
would be available to firms? current
customers
Take current products to new markets
Firms need to continue to innovate Are constantly changing
because customer needs _____.
, New product and service Saturated
innovation
is important because the longer a
product or service exists in a given
marketplace, the more likely that
the
market will become _____.
Which of the following is a way by By creating a broader portfolio of products
which risk can be diversified? through innovation
A company that develops a new improve business relationships.
merchandise tracking technology
that automatically notifies
suppliers
when a new shipment is needed is
using its new product to:
Some markets demand a higher Video games
frequency of new product releases Books
than others. In which of the Movies
following
markets do sales come from new
products?
True or False: New products must False
be
targeted toward end consumers.
Answers with Verified Solutions | Latest
Updated 2026
_____ is the process by which are transformed into new products and
ideas services that
1
will help firms grow.
_____ of innovation is the process which the use of an innovation, whether a
by product
2 or a service, spreads throughout market group over time and over various
a categories
of adopters.
Adding new products is MOST to prompt consumers to purchase in which
likely of the
3
following industries?
_____ is the process by which Innovation
ideas are
transformed into new products and
services that will help firms grow.
What objectives do firms have in To keep customers from getting bored with
adding new products, services, existing products
and To satisfy the changing needs of
processes to their offerings? consumers
,What will happen to a firm if it It will eventually decline.
continues to produce the same
products in a saturated market?
One advantage of product Diversification
innovation is that a firm can
expand
into different product categories.
The point of the risk ______
strategy is
that if some products in one
category are competing poorly,
others in another category could
be
doing very well.
Adding new products is MOST Video games
likely
to prompt consumers to purchase
in
which of the following industries?
Without innovation, what options Continue to market current products to
would be available to firms? current
customers
Take current products to new markets
Firms need to continue to innovate Are constantly changing
because customer needs _____.
, New product and service Saturated
innovation
is important because the longer a
product or service exists in a given
marketplace, the more likely that
the
market will become _____.
Which of the following is a way by By creating a broader portfolio of products
which risk can be diversified? through innovation
A company that develops a new improve business relationships.
merchandise tracking technology
that automatically notifies
suppliers
when a new shipment is needed is
using its new product to:
Some markets demand a higher Video games
frequency of new product releases Books
than others. In which of the Movies
following
markets do sales come from new
products?
True or False: New products must False
be
targeted toward end consumers.
