5.6 Research and Development

Which term describes the adaption of existing ideas and products to create commercially viable products?

• Research

• Development

• Research and Development

• Extension strategy

_________ - The sole right to the owner to use a particular sign or symbol that belongs to the organization, such as brand names and business logos.

(no caps needed)

What occurs when customers turn away from rival brands due to a more innovative and appealing product being made available?

• Brand loyalty

• Brand recognition

• Brand rivalry

• Brand switching

Apple’s “slide to unlock” technology on its iPhones (smartphones) and iPads (tablet computers) is an example of what?

• Copyright

• Brand

• Logo

• Patent

Which type of innovation is aimed at changing customer perceptions about a brand or a business?

• Position innovation

• Paradigm innovation

• Process innovation

• Incremental innovation

Major and disruptive innovations that tend to involve high risks.

• Incremental innovation

• Radical innovation

Minor improvements to products or work processes

• Incremental innovation

• Radical innovation

The sharing economy (Uber, Airbnb) is an example of

• Position innovation

• Paradigm innovation

• Process innovation

• Product innovation

A sunrise industry indicates one that has

• many small businesses

• rate of growth is slowing

• rapid growth potential

• low barriers to entry

Adaptive creativity is most likely applied at which stage of a product life cycle?

• Introduction

• Growth

• Maturity

• Decline