MGMT 4700 Capstone: Ch 7 Quiz

In the United States, the time period for the right to exclude others from the use of a patented technology is ________ from the filing date of a patent application. A) 20 years B) 25 months C) 15 months D) 25 years

20 years

Which of the following is a feature of the growth stage of the industry life cycle? A) The consumer demand increases. B) The prices of goods begin to rise. C) The basis of competition moves away from processterm-12 innovation. D) The number of competitors decreases.

The consumer demand increases.

Which of the following is a feature of the maturity stage of the industry life cycle? A) The competitive intensity within the industry is at its peak. B) The market reaches its maximum size. C) The industry structure is more monopolistically competitive. D) The focus on product innovation is higher than that on process innovation.

The market reaches its maximum size.

The strategic objective of a first mover during the introduction stage of the industry life cycle is to A) pursue a harvest strategy. B) survive by drawing on deep pockets. C) achieve market acceptance. D) lower entry barriers.

achieve market acceptance

When firms innovate by leveraging existing technologies into new markets, they are said to be involved in A) incremental innovations. B) radical innovations. C) architectural innovations. D) disruptive innovations.

architectural innovations.

When a firm pursues a maintain strategy, it A) exits a declining industry to maintain the goodwill of its overall brand name. B) reduces investments in product support and allocates only a minimum of human and other resources. C) continues to support marketing efforts even if the demand for the product is declining. D) chooses to consolidate the industry by buying rival firms, those who plan to exit.

continues to support marketing efforts even if the demand for the product is declining.

New technology, in existing markets A) incremental innovations. B) radical innovations. C) architectural innovations. D) disruptive innovations.

disruptive innovations.

The customers entering the market in the growth stage are primarily A) technology enthusiasts. B) laggards. C) early adopters. D) late majority.

early adopters.

Builds on existing knowledge A) incremental innovations. B) radical innovations. C) architectural innovations. D) disruptive innovations.

incremental innovations.

In a radical innovation, a firm targets A) existing markets by using new technologies. B) new markets by using existing technologies. C) new markets by using new technologies. D) existing markets by using existing technologies.

new markets by using new technologies.

A firm's resistance to changes in the status quo is referred to as A) organizational parity. B) organizational liquidity. C) organizational inertia. D) organizational efficacy.

organizational inertia.

What is an invention? A) the transformation of an idea into a new product or process B) a unique idea that has not been thought of before C) the transformation of an idea into a successful product D) a unique idea that has been patented

the transformation of an idea into a new product or process