Innovation Business Models and Entrepreneurship

Solution for Week - 5

1. American Marketing Association offers formal definition, “ Marketing is the

activity, set of institutions and process of ____, ____,____, and _____that have
value for customers, client, partners and society at large”.
a) pricing, packaging, delivering, exchanging
b) planning, communicating, promoting, exchanging
c) creating, communicating, delivering, exchanging
d) creating, packaging, delivering, exchanging

2. Which one of the following is correct in reference of Technological

Innovation?

a) Development of new idea

b) Converting invention into a socially usable product
c) Generating investments in idea
d) All of the above

3. Changes in marketing plans been made during COVID-19 pandemic are

a) Customer communication
b) New product released
c) Operation hours
d) All of the above

4. Which of the following process is correct?

a) Science Engineering Technology
b) Technology Engineering Science
c) Science Technology Engineering
d) None of the above

5. “Synthesis of existing knowledge and techniques to provide theoretical basis

for technical concept.” What technique is appropriate for such synthesis
a) Prototype
b) Proliferation
c) Trial and error
d) None of the above
6. Three important characteristics of technological innovation includes
a) Complex process, short time horizon, financial investment
b) Simple process, long time horizon, financial investment
c) Complex process, long time horizon, financial investment
d) None of the above

7. Identify axis of “S” curve of technological life cycle

a) Performance Index and Cost
b) Sales Index and Cost
c) Performance Index and Time
d) Sales Index and Time

8. Which of the following statements are true for strategy?

a) Technology timing strategies are normally discrete strategies rather than
continuum strategies
b) Offensive strategy initiated new industry life cycle
c) There cannot be multiple strategies at the same time in an organization
d) Imitative strategy is research intensive strategy

9. Technological forecasting approach is a/an

a) Relative approach
b) Interdisciplinary approach
c) Absolute approach
d) None of the above

10. The success factor for Pearl function for technological forecasting depends
on value of
a) a and b parameter
b) Time
c) Upper limit to growth
d) None of the above

Answer Key: 1-c, 2-b, 3-d, 4-a, 5-c, 6-c, 7-c, 8-b, 9-b, 10-c