The Federal Trade Commission Act - 922 Words

ALJ On November 13, 2015, A Federal Trade Commission’s (FTC) Chief Administrative Law Judge (ALJ) held that LabMD did not violate Section 5(a)of the Federal Trade Commission Act (FTC Act) by failing to provide reasonable security for personal information on computer networks. This is the first decision that limits the authority of FTC to regulate businesses that fail to appropriately safeguard their consumers’ electronic personal information. FTC first became involved with consumer privacy issues in 1995, when it promoted industry self-regulation. After determining that self-regulation was not effective, FTC began taking legal action under Section 5 of the FTC Act. Section 5 limits practices considered to be unfair to instances where, among other things, 1) the practice causes or is likely to cause substantial injury to consumers; (2) the substantial injury is not reasonably avoidable by consumers; and (3) the substantial injury is not outweighed by countervailing benefits to consumers or to competition. Since 2002, the FTC has brought over 50 cases against companies that have engaged in unfair or deceptive practices that put consumers’ personal data at unreasonable risk. Most of these cases resulted in settlements and did not provide judicial decisions addressing the FTC’s authority to regulate the data security practices of companies which have suffered a data breach. The first case to test the authority of FTC was FTC v. Wyndham Worldwide Corp. After a data breachShow MoreRelatedTreating Information Privacy Flaws Of The Federal Trade Commission Act Essay874 Words   |  4 PagesDEFICIENCIES IN CYBERSPACE Introduction Scholars are divided on the fundamental question of the Federal Trade Commission’s (FTC) adjudicative capacity under the FTC Act. The FTC uses a reasonableness standard and considers each company’s data security practices on a case-by-case basis. For more than a decade, the FTC’s enforcement of data security actions invoked under  §5 of the Federal Trade Commission Act (FTC Act) resulted in consent decrees and settlements, subsequently scrutinized by practitioners asRead MoreFederal Trade Commission and the Act4078 Words   |  17 Pages| Federal Trade Commission and the Act | Prepared for ASCM630.9040, Professor Charles Carey | Candy Mott-Harris 3/26/2012 | Contents ABSTRACT 2 HISTORY OF THE FEDERAL TRADE COMMISSION ACT 2 FALSE AND DECEPTIVE ADVERTISING 5 BAIT AND SWITCH ADVERTISING/TACTICS 8 CONSUMER FRAUD 10 IDENTIFYING, VERIFYING AND PREVENTING DECEPTION 12 CLOSING STATEMENTS ABOUT THE FEDERAL TRADE COMMISSION 13 BIBLIOGRAPHY 14 ABSTRACT The paper will serve as a historical background overviewRead MoreThe Federal Trade Commission Act931 Words   |  4 PagesLaw, called the Sherman Act, in an attempt to combat anti trusts and as a â€Å"comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade.† (The Antitrust Laws). Twenty four years later in 1914, Congress passed two more Anti-Trust Laws: the Federal Trade Commission Act, which created the Federal Trade Commission whose aim is to protect American consumers, and the Clayton act, which fills in any loopholes in the Sherman Act. Ultimately, these threeRead MoreThe Antitrust Laws Of The Federal Trade Commission Act1221 Words   |  5 PagesSocio – Political Environment a) Antitrust Laws The first antitrust law passed by Congress was the Sherman Act, in 1890. In 1914, Congress passed two other antitrust laws: The Federal Trade Commission Act, which created the Federal Trade Commission, and the Clayton Act. With some revisions, these are the most important federal antitrust laws still in effect today. Section 7 of the Clayton Act prohibits mergers and acquisitions when the effect may be substantially to lessen competition, or to tendRead MoreThe Case Of Ftc V. Wyndham Worldwide Corp1403 Words   |  6 Pagesof their identity protection and have peace of mind when ordering online. So when online retailers do not take the proper precautions for safeguarding their customer’s confidential information, how should they be held accountable? Does the Federal Trade Commission have the authority to reprimand companies that expose themselves to a threatening data breach? These are the principle questions that are being considered in the case of FTC v. Wyndham Worldwide Corp. This case has greatly impacted the futureRead MoreConsumer Harm : High Bar931 Words   |  4 PagesConsumer Harm: High Bar in FTC Data Security Claims ALJ On November 13, 2015, A Federal Trade Commission’s (FTC) Chief Administrative Law Judge (ALJ) held that LabMD did not violate Section 5(a)of the Federal Trade Commission Act (FTC Act) by failing to provide reasonable security for personal information on computer networks. This is the first decision that limits the authority of FTC to regulate businesses that fail to appropriately safeguard their consumers’ electronic personal information. Read MoreAdvertising Is Protected By The First Amendment Of The United States Constitution1245 Words   |  5 Pagesprotected by the First Amendment of the United States constitution. Conversely, advertising requires less control from the First Amendment, but requires the majority of control from the government and most importantly, the Federal Trade Commission. The Federal Trade Commission controls the content and images that are being advertised to consumers that seem to be exaggerated or just plain over the top. With that being said, false advertising is one of the biggest rising issues amongst many companiesRead MoreAre United States Business Laws Effective at Promoting Fair Business Practices762 Words   |  4 Pagessell, trade and perform business transactions daily within a multitude of industries and professions. In order to preserve the trust and integrity of our financial systems, it is imperative that the United States implement, regulate, and enforce business practices to remain relevant and effective within the constantly changing global economic marketplace. The United States has a long history of ensuring fair and balanced business practices through legislation. The Interstate Commerce Act of 1887Read MoreFederal Trade Commission640 Words   |  3 PagesArtemiy Andreev Ms.Brown February 15, 2016 The Federal Trade Commission Research The Federal trade commission or called the FTC was created in 1914. The Federal Trade Commission Act is the act that started this commission and its purpose was to prevent unfair methods of competition in commerce as a part of the battle to â€Å"bust the trusts.† They also did this act to enhance the informed consumer choice and public understanding of this competitive process; and another reason was to accomplishRead MoreDeceptive Advertising1524 Words   |  7 Pagesare targeted by deceptive advertising it is just a matter of how consumer savvy you are. Almost all companies are guilty of this crime, including Phillip Morris Tobacco, weight loss programs and even grocery stores just to name a few. Under both Federal and State law, an ad is unlawful if it tends to mislead or deceive even if it doesnt actually fool anyone. If your ad is deceptive youll face legal problems whether you intended to mislead the customer or not. What counts is the overall impression

Goal 1 Effective Practice Of Communication - 888 Words

Goal 1: Effective Practice of Communication Description: My goals for the practicum, first are to develop the ministerial skills that will allow me the opportunity to practice effectively as a healthcare chaplain. Second my goal is to effectively communicate with my patients and their family members, or significant others. Third my desire is to experience and develop a professional collegiality which will enable me to undergo a spiritual transformation. Objective 1: Observation: January 11, 2017 at 8:30 am, I met with Dr. Montgomery my (preceptor/ Mentor) and the Director Rich, the head of pastoral service to discuss my participation in the practicum and what my goals were for the practicum. Both Dr. Montgomery and Director Rich†¦show more content†¦Goal 2: Effective Practice of Pastoral/Spiritual Care Description: I went on pastoral care rounds with my preceptor in the hospital. Objective 1: Observation: Dr. Montgomery and I made rounds on the cardiovascular unit, and I was able to observe him interact with several patients of different faith background. He offered prayer to some, however, one declined prayer, and most requested prayer. Dr. Montgomery allowed me to pray with him and the patient. He also washed his hands between each patient. 1. Debrief: We discussed the patient‘s status and their response to prayer. Objective 2: Participation: I Observed Dr. Montgomery practicing pastoral care; by being an effective listener, and providing compassion, support, and assurance to each patient that he interacted with. 1. Resources: Dr. Montgomery and the nursing staff 2. Completion: January 18, 2017. 3. Evaluation plan: Dr. Montgomery asked me questions, and gave me the opportunity to give feedback. He informed that as a health care chaplain Goal 3: Effective Practice of Leadership (Team Gathering and Building) Description: On January 25, 2017 the Pastoral Care Department had a team gathering. Objective 1: Observation: Director Rich cooked chill and invited all the members of pastoral care. His intent was to show his appreciation to the staff. All the pastoral care staff attended even the field chaplain. 2. Debrief: The staffShow MoreRelatedNursing Theory in Practice1092 Words   |  5 PagesNursing Theory In Practice Chamberlain College of Nursing NR 501: Theoretical Basis of Advance Practice September 25, 2011 Introduction Imogene King was the developer of both a Conceptual Framework and a Goal Attainment theory. The Goal Attainment theory is a middle-range theory that originated from the Conceptual System. The primary concepts of Goal Attainment theory are perception, communication, interaction, self role, grow and development, stress, and time and spaceRead MoreHealthcare Teams Essay1260 Words   |  6 PagesHealthcare Teams Paper â€Å"All health care disciplines share a common and primary commitment to serving the patient and working toward the ideal of health for all.† (American Association of Colleges of Nursing, 2014, p. 1) There are many different professional members in the healthcare system. Each of them, have a specific specialty and responsibility to the patient and play an important role in the patient’s overall plan of care. â€Å"The scope of health care mandates that health professionals work collaborativelyRead MoreFormation Of Communication Plan For An Organization Of Cross Country Leadership And Communication1386 Words   |  6 Pages(3) Definitions (4) 1. Expanding the Message 2. Purpose 3. Best Practices 4. Formation of Communication Plan/Overview 5. Company Promise INTRODUCTION Our mission statement for We Are One (WAO) is for all people from every diverse culture to work together, to laugh and build together to capture the best moments of ourselves and this company. We present to you We Are One (WAO) which is a multinational organization of cross-country leadership and communication with the goal to become widely regardedRead MoreThe Philosophy Of Shared Accountability Essay1505 Words   |  7 Pagesnext group because all share equal responsibility for achieving defined goals. When a stakeholder group is struggling or unable to fulfill assigned responsibilities, the whole team fails because they mutually share responsibility or accountability for helping each partner reach the plan objectives. In other words, each team is not only invested in their own success, they are invested in each other’s success to achieve the goal. Identified stakeholders involved with this strategic plan include patientsRead MoreStrategic Goals And Tactical Goals Essay 1293 Words   |  6 PagesTherefore, by setting strategic goals and tactical goals can organizations create strategic communication. Strategic goals within organizations, let leaders set goals for overall objectives for their organization; therefore, communication organization goals. While tactical goals achieve departmental objectives in the context of overall strategic goals. One of the utmost important direction is leadership to employee communication. Strategic Planning Tools Strategic goals should link into their organizationRead MoreStrategic Role Of Human Resource Management1550 Words   |  7 Pagesmeet company’s objectives with the flexible environment. Schuler (1992) defines strategic human resource management as â€Å"the integration and adaption to ensure (1) human resource management is fully with the strategy and the strategic needs of the firm (2) HR polices cohere both across policy areas and across hierarchies; and (3) HR practices are adjusted, accepted and used by the line managers and employees as part of their every day work† Strategic Human Resource Management By Rajib Lochan Dhar TheRead MoreEssay on Analyzing Communication Skills1740 Words   |  7 Pagesbeing an effective educator. We communicate with others both verbally and nonverbal by eye to eye contact, gestures, body languages, and posture. Many problems arise because of poor communication among leaders. Self-awareness builds a positive school environment through effective communication skills by sending direct messages, feedback, and what is being communicated nonverbally (Davies, 2001). The four communication skills that will be analyzed are; active listening, assertive communication, rapportRead MoreIdentify the stages of the Nursing Process and the skills essential to the Nursing Process1672 Words   |  7 Pagesstage systematic framework, and based on the problem solving approach; it forms the foundation for nursing practice to facilitate focussed, individualised care planning for patients (Yildirim and Ozkahraman 2011). This assignment will serve to identify the five stages of the nursing process: Assessment, Nursing Diagnosis, Planning, Implementation and Evaluation. The skills: Communication, Observation, Critical Thinking and Reflection involved within the nursing process in partnership with the patientRead MoreAutoliv Australia1314 Words   |  6 Pages Question 1 Schuler and Jackson (1987) propose the model of Human Resource Management as the business strategic policies and practices of the organization. This framework is to achieving competitive advantage in different industry condition. They argue for fit in different industry condition and business strategic. It includes innovation, quality enhancement and cost reduction. This business strategic associated with particular employee role behaviors and HRM policies and practices. Autoliv hasRead MoreThe Role Of Conflict And Conflict Management1342 Words   |  6 Pageswork, Major concepts in leaders and leadership are communication, competition, and conflict. Because of the direct emphasis that competition brings and why communication is the key factor of the solution, . The effects of conflict and conflict management in organizations and the value of highly skilled organizational leader and their leadership capabilities. In organizations, conflict is regarded as the existence of struggle that occurs when the goals, interests or values of different individuals or

Innovation, new product development and why do new products fail free essay sample

Product innovation is the creation and subsequent introduction of a good or service that is either new, or improved on previous goods or services. Product innovation is defined as: the development of new products, changes in design of established products, or use of new materials or components in the manufacture of established products[1] Thus product innovation can be divided into two categories of innovation: development of new products, and improvement of existing products. Systemmatic Innovation of Products includes: Technology strategy Design thinking skills Customer needs analysis Systematic creativity methods Market and pricing strategy Design for environmental sustainability Design of services Capturing value from innovation Development process design Product and service leadership RD organization and teams Managing complex technical projects The future of design process and culture The development and market introduction of a new, redesigned or substantially improved good or service.might include a new products invention; technical specification and quality improvements made to a product; or the inclusion of newcomponents, materials or desirable functions into an existing product. Meaning of New Product Development: Product development is a broad field of endeavor dealing with the design, creation, and marketing of new products. Sometimes referred to as new product development (NPD), the discipline is focused on developing systematic methods for guiding all the processes involved in getting a new product to market. New product development (NPD) is the complete process ofbringing a new product to market. A product is a set of benefits offered for exchange and can be tangible (that is, something physical you can touch) or intangible (like a service, experience, or belief). There are two parallel paths involved in the NPD process: one involves the idea generation,product design and detail engineering; the other involves market research and marketing analysis. Companies typically see new product development as the first stage in generating and commercializing new product within the overall strategic process of product life cycle management used to maintain or grow their market share. There are a number of organizations dedicated to supporting product development professionals, such as the Product Development and Management Association (PDMA) and the Product Development Institute (PDI). According to the PDMA, the organizations mission is to improve the effectiveness of people engaged in developing and managing new products both new manufactured goods and new services. This mission includes facilitating the generation of new information, helping convert this information into knowledge which is in a usable format, and making this new knowledge broadly available to those who might benefit from it. As we move into the 21st century, new challenges and opportunities are arising driven by global markets, global competition, the global dispersion of engineering talent, and the advent of new information and communication technologies such as electronic mail, the world-wide web, and increased electronic bandwidth. The new vision of product development is that of a highly disaggregated process with people and organizations spread throughout the world. In the late 1980s and early 1990s a marketing focus on product development stressed customer satisfaction. Researchers in marketing believed that the key to success was a better understanding of the voice of the customer and a better ability to link that voice to the engineering decisions that are made in launching a product. Important research during that period included new ways to understand the voice of the customer (Griffin and Hauser 1993), new ways to develop optimal product profiles in the context of competition (Green and Krieger 1989a, 1991), more efficient preference measurements (Srinivasan 1988), and the ability to handle larger, more complex customer information (Wind, Green, Shifflet, and Scarbrough 1989). At the same time the quality movement focused product development engineering on improved reliability through continuous improvement such as Kaizen methods (Imai 1986), statistical quality control (Deming 1986), modified experimental design (Taguchi 1987), and design for manufacturing (Boothroyd and Dewhurst 1Today, both industry and academia view successful product development as an integrated process that must overcome many tradeoffs994). Trade offs includes time to market, Production cost, Deliver customer benefits and Development costs. All else equal, a product will be more profitable if it delivers customer benefits better, is faster to market, costs less to produce, and costs less to develop trade offs puts research on product development tools and methods into perspective. Research should be directed to assure that: (1) the firm is operating on the efficient frontier with respect to each of these strategic goals, and (2) the firm is making the best tradeoffs among these goals. Research must recognize that there are tradeoffs along the efficient frontier. For example, if wefocus on just two of the many goals of product development, then the efficient frontier suggests that there are tradeoffs between customer satisfaction and platform reuse. A firm can becometoo committed to either. For example, the significant reuse of components in platforms, software, and designs may get the product to the market faster and reduce development costs1994), but the firm may sacrifice the ability to satisfy customer needs and may miss out on ways to reduce product costs. Similarly, quality function deployment (QFD) may be an effective means to deliver customer benefits by improving communication and coordinating the efforts of multiple players in the NPD process, but some applications are too cumbersome reducing time-to-market and increasing development cost. 8 Steps for New Product Development Every entrepreneur knows that productivity is one of the key ingredients for successful product development. One of the two key processes in Robert’s Rules of Innovation is the A formalized, NPD process – also referred to and best practice: the Stage Gate ® Process – is a must, from simple to sophisticated. The New Product Development process is often referred to as The Stage-Gate innovation process , developed by Dr. Robert G. Cooper as a result of comprehensive research on reasons why products succeed and why they fail. When teams collaborate in developing new innovations, having the following eight ingredients mixed into your team’s  new product developmental repertoire will ensure that it’s overall marketability will happen relatively quick, and accurately – making everyone productive across the board. Step 1: Generating Utilizing basic internal and external SWOT analyses, as well as current marketing trends, one can distance themselves from the competition by generating ideologies which take affordability, ROI, and widespread distribution costs into account. Lean, mean and scalable are the key points to keep in mi nd. During the NPD process, keep the system nimble and use flexible discretion over which activities are executed. You may want to develop multiple versions of your road map scaled to suit different types and risk levels of projects. Step 2: Screening The Idea Wichita, possessing more aviation industry than most other states, is seeing many new innovations stop with Step 2 – screening. Do you go/no go? Set specific criteria for ideas that should be continued or dropped. Stick to the agreed upon criteria so poor projects can be sent back to the idea-hopper early on. Because product development costs are being cut in areas like Wichita, â€Å"prescreening product ideas,† means taking your Top 3 competitors’ new innovations into account, how much market share they’re chomping up, what benefits end consumers could expect etc. An interesting industry fact: Aviation industrialists will often compare growth with metals markets; therefore, when Boeing is idle, never assume that all airplanes are grounded, per se. Step 3: Testing The Concept As Gaurav Akrani has said, â€Å"Concept testing is done after idea screening. And it is important to note, it is different from test marketing. Aside from patent research, design due diligence, and other legalities involved with new product development; knowing where the marketing messages will work best is often the biggest part of testing the concept. Does the consumer understand, need, or want the product or service? Step 4: Business Analytics During the New Product Development process, build a system of metrics to monitor progress. Include input metrics, such as average time in each stage, as well as output metrics that measure the value of launched products,  percentage of new product sales and other figures that provide valuable feedback. It is important for an organization to be in agreement for these criteria and metrics. Even if an idea doesn’t turn into product, keep it in the hopper because it can prove to be a valuable asset for future products and a basis for learning and growth. Step 5: Beta / Marketability Tests Arranging private tests groups, launching beta versions, and then forming test panels after the product or products have been tested will provide you with valuable information allowing last minute improvements and tweaks. Not to mention helping to generate a small amount of buzz. WordPress is becoming synonymous with beta testing, and it’s effective; Thousands of programmers contribute code, millions test it, and finally even more download the completed end-product. Step 6: Technicalities + Product Development Provided the technical aspects can be perfected without alterations to post-beta products, heading towards a smooth step 7 is imminent. According to Akrani, in this step, â€Å"The production department will make plans to produce the product. The marketing department will make plans to distribute the product. The finance department will provide the finance for introducing the new product†. As an example; In manufacturing, the process before sending technical specs to machinery involves printing MSDS sheets , a requirement for retaining an ISO 9001 certification (the organizational structure, procedures, processes and resources needed to implement quality management . ) In internet jargon, honing the technicalities after beta testing involves final database preparations, estimation of server resources, and planning automated logistics. Be sure to have your technicalities in line when moving forward. Step 7: Commercialize At this stage, your new product developments have gone mainstream, consumers are purchasing your good or service, and technical support is consistently monitoring progress. Keeping your distribution pipelines loaded with products is an integral part of this process too, as one prefers not to give physical (or perpetual) shelf space to competition. Refreshing advertisements during this stage will keep your product’s name firmly supplanted into the minds of those in the contemplation stages of purchase. Post Launch Review and Perfect Pricing Review the NPD process efficiency and look for continues improvements. Most new products are introduced with introductory pricing, in which final prices are nailed down after consumers have ‘gotten in’. In this final stage, you’ll gauge overall value relevant to COGS (cost of goods sold), making sure internal costs aren’t overshadowing new product profits. You continuously differentiate consumer needs as your products age, forecast profits and improve delivery process whether physical, or digital, products are being perpetuated. Remember: The Process Is Loose The entire new product development process is an ever evolving testing platform where errors will be made, designs will get trashed, and loss could be recorded. Having your entire team working in tight synchronicity will ensure the successful launch of goods or services, even if reinventing your own wheel. Productivity during product development can be achieved if, and only if, goals are clearly defined along the way and each process has contingencies clearly outlined on paper. Why do new products fail? Marketers know that they’ve got to keep a steady stream of new products and/or services flowing—if for no other reason than to keep up with the competition. As circumstances, needs, wants, and trends change, no one wants to get left behind. At the same time though, marketers also know that innovation these days is pretty risky business. Neglect market research Inaccurate market research Poor marketing after launch Poor distribution Product performance below expectation(poor product quality) Product too complex Unforeseen events Market not ready for the product Inadequate support for the product Lack of USP Target market too small In Winning at New Products, author Robert Cooper estimates that about half of all resources allocated to â€Å"product development and commercialization† in the U. S. goes to products that a firm cancels or produce an inadequate financial return. In packaged goods, for instance, IRI calculated that less than a quarter of the new products introduced in 2008 broke the $7. 5 million in sales mark their first year of availability and less than one-half of 1% earned more than $100 million in sales. Though estimates of new product and service failure rates vary widely by company, category, industry, and reporting agency, the best-case-scenario chances of introducing a successful new product or service don’t get much better than 50-50. About 10%-20% of new products and services succeed, which means they remain in the market generating profits for the company three years after introduction. Here’s our top 10 list of reasons new products and services fail: Marketers assess the marketing climate inadequately. The wrong group was targeted. A weak positioning strategy was used. A less-than-optimal configuration of attributes and benefits was selected. A questionable pricing strategy was implemented. The ad campaign generated an insufficient level of awareness. Cannibalization depressed corporate profits. Over-optimism about the marketing plan led to a unrealistic forecast. Poor implementation of the marketing plan in the real world. New product development is critical to the firm’s long term survival for several reasons: First, new product development recognizes that all products have life cycles. Eventually, all products enter a decline phase with respect to sales and profitability. At some point, these products must be removed from the market. New products must exist to take their place if the firm wishes to maintain existing levels of sales and profits. New products can provide firms with a competitive advantage in the market. Firms that continually try to improve existing products and or develop new products stay a step ahead of their competitors. This advantage can translate into greater sales and higher profitability. New products also can enhance the firm’s image in the market. Consumers are attracted to things that are new. Firms that continually strive to introduce new products will likely be at the forefront of attention and have their names continuously in the media. This media exposure certainly cannot hurt the firm’s image and reputation as an innovator. Finally, new products may help the firm reduce risk by diversification. Company’s with large portfolios of products often are more stable than firms with smaller portfolios. Types of Product Failures There are two common interpretations of what is meant by a new product failure. Each interpretation has implications for which product failure rates are more believable. The Absolute Failure The first type of failure is referred to as the absolute failure. This failure is one that does not generate sufficient revenue to allow the firm to break even on its new product investment. The Relative Failure The less severe relative product failure generates sufficient product revenues to break even. However, profit objectives are not achieved. In other words, this product makes money it just does not make as much money as management hoped. The instances of relative product failures probably are substantially higher than the numbers of absolute failures. I suspect that the higher failure rates that have been reported in the literature refer to relative product failures. The number of absolute product failures probably is substantially less. The Causes of New Product Failure An important question is why do new products fail? What are the causes of failure? Several factors contribute to the high failure rates for new products in today’s highly competitive marketplace Lack of Relative Advantage The first, and probably most important reason for failure, is simply that the new product does nothing really new or unique for the consumer. This essentially means that the new product possess little relative or differential advantage over existing products already on the market. Inadequate Planning Many products fail because the manufacturer did not do enough homework. This is to say that the new product planning process was somehow flawed. Generally, this means that the market opportunity analysis (or MOA) was not conducted or missed some important information. For example, Anheuser Buschs Dewey Stevens Wine Cooler failed due to poor planning. In the mid 1980’s, Anheuser Busch, the worlds leading beer manufacturer, launched Dewey Stevens Wine Cooler with a poorly conceived and implemented promotion program that never targeted the right audience for the product. In its promotional material, Dewey Stevens alternately tried to appeal to woman, calorie counter consumers, and more sophisticated upscale consumers. The varied positioning of Dewey Stevens created substantial confusion in the market concerning Dewey Stevens’ image. A second example is provided by the test market of Eli Cutter cigarettes discussed in an earlier topic. Eli Cutter probably would have failed if it had been commercialized due to its poorly conceived positioning strategy. The brand was positioned directly against Marlboro, the leading brand in the market with a strong customer following. Better attention to marketing research and new product planning would have prevented taking Eli Cutter to test market. Poor Execution of Introduction Poorly executed marketing programs, no matter how well they are conceived, also can result in product failure. Poor execution entails an improperly conceived and poorly implemented marketing mix. The product may have been promoted incorrectly, priced either too high or too low, or distributed in inappropriate outlets. This is primarily a marketing failure. Technical Problems During Introduction Technical problems can also plague new product introductions leading to their failure. These problems are problems with the basic functionality of the product that were not uncovered during earlier functional testing and/or test marketing. Poor Timing of Introduction Poor timing of introduction can lead to failure. Introducing products during economic down-turns or at about the same time as competitors are introducing similar products can severely limit sales. Procter and Gamble introduced Encaprin in the mid 1980’s as an extra strength pain reliever. At introduction, Encaprin faced very intense competition both from Advil and Nuprin, which also were recently introduced as arthritis pain relievers. Advil and Nuprin together had in excess of a hundred million dollars in advertising budgets. The net effect was that Encaprin could not break out of the promotional noise generated by these two brands Conclusion Modern innovation management requires integrated structures. Social community network structures can promote innovation management in the sense of open innovation. Only by cooperation it will be able to develop suitable innovations for the customer in future. Otherwise one will run the risk developing innovations not wanted by the customers. Next to once, it is particularly necessary to do everything for a systematic innovation management which refer among others to responsibilities, know-how and concepts. In the end, this examination shall give libraries and information providers the possibility of using the identified and described improvement potentials for their own innovation management. In the consequence changes of the organization principles possibly require also courageous decisions by e. g. conventional structures being put and broken open within a furnishing but and customer also between supplier in question. Increasing competition intensity and a high dynamics of information scientific services force service providers to develop solutions and services for the customer to build up a positive image to the customer. The collection of qualitative data gives a profound insight into the practice of innovation management in information science institutions. It were primarily enterprises such studies focused on. Libraries and (public) information service providers werent subject of such survey till now. It is the aim also to draw conclusions in this sector from the results for trainings and further education as well as to generate possible offers to promote the innovation management further. Since this study is part of an on-going research and it is not fully completed, conclusions should be taken with care. Nevertheless, some concluding points deserve attention. NPD integrates different perspectives of new product development process, considering the nature of the elements as the basis for its elaboration. Finally, even as a preliminary study, the conceptual model here proposed seems to contribute to the understanding of the dynamics of the product development process, given theseparation of the operational dimension of the other five that constitute the structure of the development project. This gives a clear notion that, although the methods and techniques that compose each dimension are very well understoodRigorous processes and a more effective platform for managing an open development environment can reduce the costs of new-product-development and increase the chances of delivering products. A more effective delivery platform can meet today’s need to reduce costs while also positioning a company for market dominance and high performance in long run.

Psychology Chapter 8 Essay Example

Psychology Chapter 8 Paper They infer mental processes from observable behaviors. How do cognitive psychologists study mental processes? (Answer on P.301) Those images required larger degrees of rotation. While participating in an image rotation study, you responded very slowly to some items that shared certain characteristics. What is the likely reason for these slow responses? (Answer on P.302) Visual imagery activates brain areas related to the sport. How do researchers explain the effectiveness of mental imagery as an adjunct to athletes preparation for competition? (Answer on P.303) Concepts. Don can tell Ray about his sports car because Ray understands common characteristics of sports cars and what makes them different from family cars. Thus Ray is using mental categories called: (Answer on P.303) More complicated and not as clearly defined. Compared to artificial concepts learned in the laboratory, natural concepts tend to be: (Answer on P.304) Prototypes. Most college students in the U.S. probably think of football or basketball when sports are mentioned, rather than soccer or luge. Thus, football and basketball would serve as ________ for sports. (Answer on P.304) Needed operations, final product, and starting point. What are the three characteristics of well-defined problems? (Answer on P.305) Algorithm. What term might a cognitive psychologist use to describe the formula for calculating the square yards of carpet needed to cover the bedroom floor? (Answer on P.305) Heuristics. What problem-solving strategies dont guarantee solutions but make efficient use of time? (Answer on P.306) Knowing how to collect and organize information. Compared to non-experts, psychologists have found that expert problem solvers are especially proficient at: (Answer on P.306) Setting Subgoals. You have a term paper due in a month. For the first week, you decide to find 10 references, read them in the second week, develop an outline in the third week, and write the paper during the fourth week. What problem-solving approach are you using? (Answer on P.306) Rigidity. What term do we use for the tendency to rely too heavily on past experience in solving problems? (Answer on P.306) Set Effect. You have worked at the same job for five years and always drive home using the same route. A new street is built that would shorten your trip but you continue to use the same route. What problem-solving block are you experiencing? (Answer on P.307) Confirmation Bias. John is trying to figure out what is wrong with his car. He thinks there is a problem with the fuel injection system so he hasnt checked if there might be another malfunction before he takes it to the dealer. Which error may John be committing? (Answer on P.310) They used the representativeness heuristic. Pat is a psychologist who works with defense attorneys in formulating questions during jury selection. Many prospective jurors think Pat is an attorney because he is male, dresses in a three-piece suit, writes on a legal pad, and has a good command of language. What decision-making process did the prospective jurors use? (Answer on P.310) Availability Heuristic. After hearing about a horrible airline crash that killed 250 people, Jim cancels his airplane reservations because he feels it is too risky to fly. Instead, he decides to drive across the country. What decision-making process was involved in Jims decision? (Answer on P.311) They will travel for a blender regularly selling for $55 but on sale for $50. A psychologist presents people with situations involving the purchase of a blender and a suit. He wants to know if they would be willing to drive 20 minutes in order to save some money. What decisions are people most likely to make in these situations? (Answer on P.312) They will make risk-averse decisions and select Procedure A. A surgeon is reviewing the chances of success for two surgical procedures and says that if Procedure A is used, the chances of survival are 35%. If Procedure B is used, the chances of failure are 65%. What will patients tend to do when faced with this type of information? (Answer on P.312) There is a low to moderate positive relation between the two. What is the relation between intelligence and creativity? (Answer pn P.312) Divergent. What type of thinking could be described as taking different directions in search of a variety of answers to a question? (Answer on P. 314) The effectiveness of different motivators varies with the individual and the degree to which it is task-focusing versus goal-focusing. The town council asked a sculptor to create a work in celebration of the towns 100th anniversary. Some members of the council want to offer a large monetary sum; others believe money will detract from the quality of the art. What advice might a psychologist offer members of the council? (Answer on P.315) Phonemes. You are learning Russian in preparation for a trip next summer. Although you are doing a good job recognizing the written signs, you are having trouble with the sounds of the Russian language. Which of the following aspects of language is giving you trouble? (Answer on P.319) Morphemes. What are the basic units of meaning in a language? (Answer on P.319) 2 Months. At what age do children engage in cooing? (Answer on P.319) Telegraphic Speech. A young child says Mommy go, signifying that her mother is going to the store. What does this example illustrate about language development? (Answer on P.319) Imitation and Reinforcement. How would B. F. Skinner account for the acquisition of language? (Answer on P.319) They use facial expressions and pantomimes of emotions. How do people who use American Sign Language place emphasis in their sentences? (Answer on P.322) Bart, who is deaf, was born to hearing parents who encouraged him to learn ASL. Which of the following describes the typical background and experience for a deaf person today? (Answer on P.322) Sarah, who is 12 years old. Which person would probably have the easiest time learning a second language? (Answer on P.321) Linguistic Relativity Hypothesis. What do we call the hypothesis that language influences what we think? (Answer on P.323) Doublespeak. What do we call language that is purposely designed to make the bad seem good, turn a negative into a positive, or avoid responsibility? (Answer on P.323) Euphemism. What term is used to describe an inoffensive word or phrase used in place of an unacceptable or offensive one? (Answer on P.324) The stories will not have many women. What effect will hearing a story in which all of the pronouns are he or him have on the stories children write immediately after hearing the story? (Answer on P.325) Objective measure of a sample of behavior collected using well-established procedures. Which of these is the best description of a psychological test? (Answer on P.327) The process of thinking. Compared to Americans, the descriptions of intelligence offered by the Japanese place greater emphasis on: (Answer on P.327) Facilitates harmonious group relations and participates in family life. You are reading written descriptions of definitions of intelligence from around the world. Which of the following might you think had come from people in African countries such as Kenya? (Answer on P.327) Francis Galton. I believe that differences in levels of intellectual ability are due to hereditary factors and that these differences can be measured. Who am I? (Answer on P.328) Intelligence. The ability to excel in a number of tasks, especially those related to success in schoolwork, is a common American definition of: (Answer on P.328) To select those children who could benefit from classes for slow learners. What was the original purpose of the first well-established test of intelligence? (Answer on P.328) The childs performance is similar to the average of eight-year-old children. What could we conclude if we know that a child obtained a mental age of eight on a standard test of intelligence? (Answer on P.329) 91. You test an 11-year-old child and find she has a mental age of 10. What is her IQ? (Answer on P.329) Performance and Verbal. What two categories of subtests make up the Wechsler intelligence tests? (Answer on P.330) Reliable. Psychological tests that yield relatively consistent results are said to be: (Answer on P.331) Valid. A psychological test that measures what we intend it to measure is said to be; (Answer on P.331) Content Validity. An academic test that reflects the material it intends to assess is said to have: (Answer on P.331) Predictive Validity. A test that estimates whether a person will succeed at a particular task is said to have: (Answer on P.331) Standardization. When you took your college entrance exam, students across the country took the same test at the same time with the same instructions. What characteristic of a good psychological test do these similarities reflect? (Answer on P.332) Norms. What are scores obtained by a relatively large sample of people on the same psychological test? (Answer on P.332) Normal Curve. Many human characteristics such as height are distributed so the majority of scores fall in the middle, with fewer extreme scores. What do we call this type of distribution? (Answer on P.333) Exceptional. What term designates children with learning disabilities, behavior and emotional disorders, sensory and physical handicaps, communication disorders, or intellectual differences? (Answer on P.333) She may be mentally retarded but further evaluation is needed. Ten-year-old Myra was evaluated by a psychologist at the State Hospital. She obtained an IQ of 62. What is the psychologist likely to conclude based on this testing? (Answer on P.333) Savant Syndrome. A psychologist tested Brian and found his overall IQ was 45. Yet Brian can add, subtract, multiply, and divide large numbers with lightning speed and consistent accuracy. What term is used for Brians exceptional ability? (Answer on P.334) Autism. Failure to respond to people in socially appropriate ways and serious deficits in language are characteristics of: (Answer on P.336) General intelligence and specific abilities. Charles Spearman believed that intelligence is composed of: (Answer on P.336) Analytical, Creative, and Practical. What three types of intelligence constitute Sternbergs triarchic theory of intelligence? (Answer on P.336) Standard tests do not assess the many facets of intelligence. Howard Gardner and Robert Sternberg agree to be interviewed together on the topic of intelligence. At the end of the interview, what would you conclude is their major point of agreement? (Answer on P.338) We can improve the intelligence of the nation if only the brightest people have children. Which of the following summarizes the eugenics movement? (Answer on P.338) 50 60% A group of psychologists reviews the literature on the heritability of intelligence. They conclude that most of the estimates are in what range? (Answer on P.339) Phenylketonuria. Damage from what genetic abnormality can be avoided by modification of diet beginning at birth? (Answer on P.340) The childrens IQ scores had increased. Howard Skeels placed slow and unresponsive children in a home for mentally retarded adolescents for several months. What did he find? (Answer on P.341) A slow but steady rise in performance. What has happened to IQ performance since the 1930s? (Answer on P.341) Confluence Model. What term did Robert Zajonc use to describe the idea that family structure can influence intelligence? (Answer on P.342) Parents with lower IQs tend to have more children than the national average. What finding from the National Longitudinal Survey of Youth seems critical in explaining past reports of a relation involving birth order, family size, and intelligence? (Answer on P.342) Heredity; Environment. When we consider intelligence, it is important to remember that although ________ sets limits on a childs potential, it is the ________ that permits that potential to be actualized. (Answer on P.344) African-American students who are told a test measures intelligence as opposed to problem solving obtain lower scores. What evidence does Claude Steele present in support of the stereotype vulnerability hypothesis as it relates to intelligence testing? (Answer on P.344) They failed to distinguish between correlation and causation. What is one criticism of the conclusions offered by Richard Herrnstein and Charles Murray in The Bell Curve? (Answer on P.345)