Exam (elaborations)

DMS 301m Full Test Bank | Verified with 100% Correct Answers

0 purchase

Course
DMS 301m

Institution
DMS 301m

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...

[Show more]

Preview 4 out of 52 pages

View example

Uploaded on August 28, 2024
Number of pages 52
Written in 2024/2025
Type Exam (elaborations)
Contains Questions & answers

Institution DMS 301m
Course DMS 301m

Bri254 Member since 4 year 831 documents sold

100

$26.49

Add to cart

Add to wishlist

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

DMS 301m Full Test Bank

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

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Bri254. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $26.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69052 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling

Exam (elaborations)

DMS 301m Full Test Bank | Verified with 100% Correct Answers

Document information

Subjects

Written for

Seller

Reviews received

Content preview