Question 1

Which of the following relates to the performance criterion?

Accepted Answer

A)  How well does the product do what it is supposed to do? 
B)  Does the product have any unique features that are desirable? 
C)  Is the product likely to function well and not break down over a reasonable time period? 
D)  Does the product conform to established standards for such things as safety? 
A)  How well does the product do what it is supposed to do? 
B)  Does the product have any unique features that are desirable? 
C)  Is the product likely to function well and not break down over a reasonable time period? 
D)  Does the product conform to established standards for such things as safety?

Question 2

Pontiac introduces a new model of its Montana SUV that has better features than last year's model. The new model of the Montana SUV would fall into which of the following categories?

Accepted Answer

A)  New-to-the-world products 
B)  New category entries 
C)  Additions to product lines 
D)  Product improvements 
A)  New-to-the-world products 
B)  New category entries 
C)  Additions to product lines 
D)  Product improvements

Question 3

Which of the following refers to the elapsed time between product definition and product availability?

Accepted Answer

A)  Scalability 
B)  Time to market 
C)  Cycle Time 
D)  Information provision 
A)  Scalability 
B)  Time to market 
C)  Cycle Time 
D)  Information provision

Question 4

This involves placing employees in positions that require direct contact with customers, competitors, and other key outside groups.

Accepted Answer

A)  Out-rotation 
B)  Line extension 
C)  Outsider planning 
D)  Internal risk 
A)  Out-rotation 
B)  Line extension 
C)  Outsider planning 
D)  Internal risk

Question 5

The manufacturers of Waterford crystal have usually focused efforts of creating intricate artifacts, and other collectibles. However, in light of competition and demand, they are introducing their first line of dinnerware. In which of the new product categories would the dinnerware fall?

Accepted Answer

A)  New-to-the-world product 
B)  New category entry 
C)  Additions to product lines 
D)  Product improvements 
A)  New-to-the-world product 
B)  New category entry 
C)  Additions to product lines 
D)  Product improvements

Question 6

Policy-making criteria on new products should specify all of the following except

Accepted Answer

A)  a working definition of the profit concept acceptable to top management. 
B)  an exact level of profits. 
C)  the availability and cost of capital to develop a new product. 
D)  a specified time period in which the new product must recoup its operating costs and begin contributing to profits. 
A)  a working definition of the profit concept acceptable to top management. 
B)  an exact level of profits. 
C)  the availability and cost of capital to develop a new product. 
D)  a specified time period in which the new product must recoup its operating costs and begin contributing to profits.

Question 7

Identify the two methods commonly used for creating and managing project teams.

Accepted Answer

A)  Idea screening and observational research. 
B)  Test marketing and marketing applications. 
C)  Skunkworks and rugby approach. 
D)  Idea generation and consumer research. 
A)  Idea screening and observational research. 
B)  Test marketing and marketing applications. 
C)  Skunkworks and rugby approach. 
D)  Idea generation and consumer research.

Question 8

Consultants, academic journals, and periodicals are _____ sources of new product ideas.

Accepted Answer

A)  competing 
B)  internal 
C)  research 
D)  external 
A)  competing 
B)  internal 
C)  research 
D)  external

Question 9

Potential benefits to be gained from alliances include all of the following, except

Accepted Answer

A)  increased access to technology, funding, and information. 
B)  a guarantee that the product will meet a market need in a value-added, differentiated way. 
C)  market expansion and greater penetration of current markets. 
D)  de-escalated competitive rivalries. 
A)  increased access to technology, funding, and information. 
B)  a guarantee that the product will meet a market need in a value-added, differentiated way. 
C)  market expansion and greater penetration of current markets. 
D)  de-escalated competitive rivalries.

Question 10

Which of the following observations about new product policy is true?

Accepted Answer

A)  New product policy should specify a minimum level or floor of profits. 
B)  There should be no specific time period for the product to become operational as this disturbs the new-product development process. 
C)  When developing a new product policy, a company should focus more on consumer satisfaction levels than on the product's economic contribution. 
D)  A short-term focus is necessary for an effective new product policy in order to gain competitive advantage. 
A)  New product policy should specify a minimum level or floor of profits. 
B)  There should be no specific time period for the product to become operational as this disturbs the new-product development process. 
C)  When developing a new product policy, a company should focus more on consumer satisfaction levels than on the product's economic contribution. 
D)  A short-term focus is necessary for an effective new product policy in order to gain competitive advantage.

Question 11

The product-launch step where the firm commits to introducing the product into the marketplace is referred to as

Accepted Answer

A)  commercialization. 
B)  test marketing. 
C)  personal selling. 
D)  direct marketing. 
A)  commercialization. 
B)  test marketing. 
C)  personal selling. 
D)  direct marketing.

Question 12

Products that are inventions are called

Accepted Answer

A)  new-to-the-world products. 
B)  new category entries. 
C)  addition to product lines. 
D)  product improvements. 
A)  new-to-the-world products. 
B)  new category entries. 
C)  addition to product lines. 
D)  product improvements.

Question 13

For the last decade, Green Giant has sold frozen vegetables in various types of sauces. In 2002, the company changed its packaging and began offering frozen vegetables in re-sealable bags with separate frozen sauce pellets. In which of the new product categories would this new method of packaging frozen vegetables fall?

Accepted Answer

A)  New-to-the-world products 
B)  New category entries 
C)  Additions to product lines 
D)  Product improvements 
A)  New-to-the-world products 
B)  New category entries 
C)  Additions to product lines 
D)  Product improvements

Question 14

Identify the initiative that Procter & Gamble has taken to help managers speed up the new process development cycle.

Accepted Answer

A)  Laying increased importance on managers' interpersonal skills. 
B)  Continuous training programs aimed at updating the technical skills of managers. 
C)  Increased training to enhance the problem-solving skills of managers. 
D)  More decision-making power given to managers at the product class and brand family level. 
A)  Laying increased importance on managers' interpersonal skills. 
B)  Continuous training programs aimed at updating the technical skills of managers. 
C)  Increased training to enhance the problem-solving skills of managers. 
D)  More decision-making power given to managers at the product class and brand family level.

Question 15

In the development of new products, marketers have several important decisions to make about the characteristics of the product itself. These include all of the following except

Accepted Answer

A)  quality level. 
B)  product features. 
C)  geographic reach. 
D)  product design. 
A)  quality level. 
B)  product features. 
C)  geographic reach. 
D)  product design.

Question 16

Which of the following observations about idea generation is true?

Accepted Answer

A)  Top-management should be completely uninvolved in this stage of the new product development process. 
B)  Only ideas with a high potential for economic success should be considered during idea generation. 
C)  Ideas are the raw materials for product development, and the whole planning process depends on the quality of idea generation. 
D)  All new product ideas have an equal opportunity for success if the organization will invest enough resources in them. 
A)  Top-management should be completely uninvolved in this stage of the new product development process. 
B)  Only ideas with a high potential for economic success should be considered during idea generation. 
C)  Ideas are the raw materials for product development, and the whole planning process depends on the quality of idea generation. 
D)  All new product ideas have an equal opportunity for success if the organization will invest enough resources in them.

Question 17

Which of the following denotes a growth direction through the increase in market share for present product markets?

Accepted Answer

A)  Market penetration 
B)  Diversification 
C)  Product development 
D)  Benchmarking 
A)  Market penetration 
B)  Diversification 
C)  Product development 
D)  Benchmarking

Question 18

"Details" magazine was introduced to the market as a raw and bold "underground nightlife magazine." Sales were low, so the publisher of the magazine re-launched it as a fashion and lifestyle magazine for twenty something males. In which of the new product categories would this product fall?

Accepted Answer

A)  New-to-the-world products 
B)  New category entries 
C)  Product improvements 
D)  Repositioning 
A)  New-to-the-world products 
B)  New category entries 
C)  Product improvements 
D)  Repositioning

Question 19

Hallmark sells cards, gift-wrapping materials, and collectibles. However, in the summer of 2000, Hallmark added fresh-cut flower arrangements to its product offering. In which of the new product categories would the floral arrangements fall?

Accepted Answer

A)  New-to-the-world products 
B)  New category entries 
C)  Additions to product lines 
D)  Product improvements 
A)  New-to-the-world products 
B)  New category entries 
C)  Additions to product lines 
D)  Product improvements

Question 20

Which of the following is not a category of risk that the organization has to consider in the idea screening phase prior to reaching a decision?

Accepted Answer

A)  Strategic risk 
B)  Market risk 
C)  Credit risk 
D)  Internal risk 
A)  Strategic risk 
B)  Market risk 
C)  Credit risk 
D)  Internal risk

Which of the following relates to the performance criterion?

Pontiac introduces a new model of its Montana SUV that has better features than last year's model. The new model of the Montana SUV would fall into which of the following categories?

Which of the following refers to the elapsed time between product definition and product availability?

This involves placing employees in positions that require direct contact with customers, competitors, and other key outside groups.

The manufacturers of Waterford crystal have usually focused efforts of creating intricate artifacts, and other collectibles. However, in light of competition and demand, they are introducing their first line of dinnerware. In which of the new product categories would the dinnerware fall?

Policy-making criteria on new products should specify all of the following except

Identify the two methods commonly used for creating and managing project teams.

Consultants, academic journals, and periodicals are _____ sources of new product ideas.

Potential benefits to be gained from alliances include all of the following, except

Which of the following observations about new product policy is true?

The product-launch step where the firm commits to introducing the product into the marketplace is referred to as

Products that are inventions are called

Identify the initiative that Procter & Gamble has taken to help managers speed up the new process development cycle.

In the development of new products, marketers have several important decisions to make about the characteristics of the product itself. These include all of the following except

Which of the following observations about idea generation is true?

Which of the following denotes a growth direction through the increase in market share for present product markets?

"Details" magazine was introduced to the market as a raw and bold "underground nightlife magazine." Sales were low, so the publisher of the magazine re-launched it as a fashion and lifestyle magazine for twenty something males. In which of the new product categories would this product fall?

Hallmark sells cards, gift-wrapping materials, and collectibles. However, in the summer of 2000, Hallmark added fresh-cut flower arrangements to its product offering. In which of the new product categories would the floral arrangements fall?

Which of the following is not a category of risk that the organization has to consider in the idea screening phase prior to reaching a decision?

Strategic Planning and the Marketing Management Process

Marketing Research : Process and Systems for Decision Making

Consumer Behavior

Business, Government, and Institutional Buying

Market Segmentation

Product and Brand Strategy

Integrated Marketing Communications : Advertising, Sales Promotion, Public Relations, and Direct Marketing

Personal Selling, Relationship Building, and Sales Management

Distribution Strategy

Pricing Strategy

The Marketing of Services

Global Marketing

Filters

Exam 7: New Product Planning and Development

Which of the following relates to the performance criterion?

Pontiac introduces a new model of its Montana SUV that has better features than last year's model. The new model of the Montana SUV would fall into which of the following categories?

Which of the following refers to the elapsed time between product definition and product availability?

This involves placing employees in positions that require direct contact with customers, competitors, and other key outside groups.

The manufacturers of Waterford crystal have usually focused efforts of creating intricate artifacts, and other collectibles. However, in light of competition and demand, they are introducing their first line of dinnerware. In which of the new product categories would the dinnerware fall?

Policy-making criteria on new products should specify all of the following except

Identify the two methods commonly used for creating and managing project teams.

Consultants, academic journals, and periodicals are _____ sources of new product ideas.

Potential benefits to be gained from alliances include all of the following, except

Which of the following observations about new product policy is true?

The product-launch step where the firm commits to introducing the product into the marketplace is referred to as

Products that are inventions are called

Identify the initiative that Procter & Gamble has taken to help managers speed up the new process development cycle.

In the development of new products, marketers have several important decisions to make about the characteristics of the product itself. These include all of the following except

Which of the following observations about idea generation is true?

Which of the following denotes a growth direction through the increase in market share for present product markets?

"Details" magazine was introduced to the market as a raw and bold "underground nightlife magazine." Sales were low, so the publisher of the magazine re-launched it as a fashion and lifestyle magazine for twenty something males. In which of the new product categories would this product fall?

Hallmark sells cards, gift-wrapping materials, and collectibles. However, in the summer of 2000, Hallmark added fresh-cut flower arrangements to its product offering. In which of the new product categories would the floral arrangements fall?

Which of the following is not a category of risk that the organization has to consider in the idea screening phase prior to reaching a decision?

Strategic Planning and the Marketing Management Process

Marketing Research : Process and Systems for Decision Making

Consumer Behavior

Business, Government, and Institutional Buying

Market Segmentation

Product and Brand Strategy

Integrated Marketing Communications : Advertising, Sales Promotion, Public Relations, and Direct Marketing

Personal Selling, Relationship Building, and Sales Management

Distribution Strategy

Pricing Strategy

The Marketing of Services

Global Marketing

Filters