IMM 2021 - Sample exam questions PDF

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IMM Sample Exam Questions1. Innovation is a popular buzzword that is used for many different things. In the first lecture I gave a clear definition of ‘innovation’. Which of the following examples of innovation is not covered by that definition? a. A new car-sharing service developed by Ford b. A ne...

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IMM Sample Exam Questions

1. Innovation is a popular buzzword that is used for many different things. In the first lecture I gave a clear definition of ‘innovation’. Which of the following examples of innovation is not covered by that definition? a. A new car-sharing service developed by Ford b. A new process to develop biodegradable plastics developed by university researchers and sold through their spin-off company c. A new medical procedure to treat Alzheimer patients developed by a pharmaceutical company d. A new innovation process model developed by a consulting firm and used to improve their customers’ innovation processes

2. This course presented many innovation concepts and theories. This faculty delivers courses (like this one) to its students. Can this faculty use the innovation concepts and theories presented in this course? a. No, because this course is about products and the courses delivered by this faculty to students are services b. No, because education is a special type of product: students do not know what they need and the faculty must decide what to offer them c. Yes, because education is just another product and students can tell the faculty exactly what the faculty should offer them d. Yes, because the innovation concepts and theories presented in this course are very general and apply to all kinds of products and services

3.

Which of the following statements about prototype testing is not true? a. Real-life testing is to be preferred over virtual testing b. Alpha and beta tests have different objectives c. An alpha test should always be done before a beta test d. When the development process runs into delays, the beta test is most likely to get skipped

4.

Which of the following is NOT an example of a strategic launch decision? a. What objective do we want to achieve with the new product? b. Will we sell one version of the product or offer a range of related products? c. Are we going to launch the product globally or one geographical market at a time? d. Will we sell the new product to consumers or to companies?

5.

Robert Cooper carried out famous studies to identify the factors that determine the success of new products. Which factor, somewhat surprisingly, proved to have no impact on the success of a new product? a. The extent to which the company is familiar with the market on which the new product is launched b. The size of the target market c. The quality of the innovation team d. Whether or not the product was first to market

6.

The innovation funnel emphasizes that innovative companies need to generate many ideas for new products. Why do companies need to generate so many ideas for new products? a. Because many ideas make it possible for companies to combine several ideas into one new idea b. Because it is much cheaper to generate many ideas than to develop many prototypes c. Because this increases the chance of generating some really promising ideas d. Because firms use “gates with teeth” to select the idea that is most promising

7.

After having identified many new product ideas, the next step in the innovation process is idea selection. What is the key objective during the stage of idea selection? a. To select the most promising new product idea, which is then developed and launched b. To keep the costs as low as possible by eliminating as many new product ideas as possible c. To select several promising new product ideas, which are then developed into concepts d. To combine the different perspectives of different departments, such as marketing, R&D, and manufacturing

8.

How did I define customer value during the lecture about business models? a. The superior benefits offered by the product b. The superior benefits offered by the product, as they are perceived by the customer c. The benefits minus costs that a customer receives in exchange for the purchase price d. The benefits minus the costs that is created for the customer

9.

What are Zipcar, Office 365, Netflix and Spotify examples of? a. Customer value propositions b. Customers’ job to be done c. Services that have replaced products d. Products that, because of technological developments, have gradually changed into services

10. In their article, Interorganizational Collaboration and Innovation: Toward a Portfolio Approach, Faems et al. (2005) investigated the impact of collaboration with other organizations on innovation performance and found that: a. Collaboration with customers is more profitable than collaboration with suppliers b. The most effective collaboration depends on the type of collaboration partner c. Collaboration with a limited number of different partners leads to higher performance d. Collaboration with other organizations is a learning process

11. In one of the articles, the authors argue that companies should use business experiments during their innovation process. Why do they believe that it is so important to conduct business experiments? a. Because business experiments provide more objective information than the experience and gut feelings from managers b. Because customers in different countries may respond differently to the innovation and the only way to discover that is to use business experiments c. Because it helps to speed up the innovation process d. Because business experiments can easily be adapted to local conditions

Correct answers: 1D, 2D, 3A, 4B, 5D, 6C, 7C, 8C, 9C, 10B, 11A...