Question 1

Which of the following is true about the introduction stage of a new product?

Accepted Answer

A)  Profits are typically high. 
B)  Promotion spending is relatively low. 
C)  Less money is needed to attract distributors. 
D)  Companies tend to avoid basic versions of the product. 
E)  Sales growth tends to be slow. 
A)  Profits are typically high. 
B)  Promotion spending is relatively low. 
C)  Less money is needed to attract distributors. 
D)  Companies tend to avoid basic versions of the product. 
E)  Sales growth tends to be slow.

Question 2

Manufacturers rely on distributors and suppliers as internal sources of new product ideas.

Accepted Answer

A) True 
 B)False

Question 3

What is crowdsourcing? How is crowdsourcing useful in new product development?

Accepted Answer

Crowdsourcing refers to throwing the inn

Question 4

Modifying a product is an ineffective strategy in the maturity period of the product life cycle because the product's decline is irreversible at this stage.

Accepted Answer

A) True 
 B)False

Question 5

Safari Unlimited recently conducted national research to generate ideas for a new line of fatigues geared to women. The company uncovered a number of ideas about clothing and accessory preferences as well as important benefits such as built-in sunblock and durability. The Safari Unlimited product development team will most likely use ________ next to arrive at a realistic number of products for the new fatigues line.

Accepted Answer

A)  crowdsourcing 
B)  idea screening 
C)  concept testing 
D)  concept development 
E)  business analysis 
A)  crowdsourcing 
B)  idea screening 
C)  concept testing 
D)  concept development 
E)  business analysis

Question 6

The amount of test marketing needed is the same for each new product.

Accepted Answer

A) True 
 B)False

Question 7

The stage in which product ideas are presented to groups of target consumers physically or symbolically is referred to as ________.

Accepted Answer

A)  concept testing 
B)  concept development 
C)  test marketing 
D)  marketing strategy development 
E)  crowdsourcing 
A)  concept testing 
B)  concept development 
C)  test marketing 
D)  marketing strategy development 
E)  crowdsourcing

Question 8

Which of the following is most likely true of a product in the maturity stage of the product life cycle?

Accepted Answer

A)  Sales are zero, and the company's investment costs mount. 
B)  New competitors enter the market. 
C)  A slowdown occurs in sales growth. 
D)  Sales increase with decreasing competition. 
E)  New distribution channels are acquired. 
A)  Sales are zero, and the company's investment costs mount. 
B)  New competitors enter the market. 
C)  A slowdown occurs in sales growth. 
D)  Sales increase with decreasing competition. 
E)  New distribution channels are acquired.

Question 9

The business analysis stage is the final step in the new product development process.

Accepted Answer

A) True 
 B)False

Question 10

Taco Bell test marketed Doritos Locos Tacos for three years and developed 45 prototypes. Once the decision was made to launch the new taco shell, it moved into the ________ stage of the new product development process.

Accepted Answer

A)  concept development 
B)  product development 
C)  test marketing 
D)  strategy development 
E)  commercialization 
A)  concept development 
B)  product development 
C)  test marketing 
D)  strategy development 
E)  commercialization

Question 11

Introducing a new product into the market is called ________.

Accepted Answer

A)  test marketing 
B)  segmentation 
C)  product development 
D)  commercialization 
E)  market penetration 
A)  test marketing 
B)  segmentation 
C)  product development 
D)  commercialization 
E)  market penetration

Question 12

Product modifications are an important source of new products for organizations.

Accepted Answer

A) True 
 B)False

Question 13

Briefly explain each step in a typical product life cycle.

Accepted Answer

Product development begins when a compan

Question 14

At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance departments work in cross-functional groups to save time and money in the new product development process. From this description, it can be inferred that Fantastic Flavors uses a(n)________ approach.

Accepted Answer

A)  intradepartmental new product development 
B)  sequential new product development 
C)  team-based new product development 
D)  simulated test market 
E)  controlled test market 
A)  intradepartmental new product development 
B)  sequential new product development 
C)  team-based new product development 
D)  simulated test market 
E)  controlled test market

Question 15

Briefly describe the maturity stage of the product life cycle.

Accepted Answer

At some point, a product's sales growth

Question 16

Some companies are now appointing ________, whose job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems.

Accepted Answer

A)  intradepartmental teams 
B)  idea generation teams 
C)  product audit committees 
D)  product stewards 
E)  listening officers 
A)  intradepartmental teams 
B)  idea generation teams 
C)  product audit committees 
D)  product stewards 
E)  listening officers

Question 17

During concept testing, a product is evaluated by management without any input from external sources.

Accepted Answer

A) True 
 B)False

Question 18

________ is the stage where a product and its proposed marketing program are introduced into realistic market settings.

Accepted Answer

A)  Market strategy development 
B)  Concept testing 
C)  Test marketing 
D)  Concept development 
E)  Business analysis 
A)  Market strategy development 
B)  Concept testing 
C)  Test marketing 
D)  Concept development 
E)  Business analysis

Question 19

The third part of a marketing strategy statement describes the ________ of a new product.

Accepted Answer

A)  sales, market share, and profit goals 
B)  distribution and pricing 
C)  marketing budget 
D)  planned value proposition 
E)  target market and sales goals 
A)  sales, market share, and profit goals 
B)  distribution and pricing 
C)  marketing budget 
D)  planned value proposition 
E)  target market and sales goals

Question 20

Briefly describe the steps in the new product development process.

Accepted Answer

The new product development process gene

Which of the following is true about the introduction stage of a new product?

Manufacturers rely on distributors and suppliers as internal sources of new product ideas.

What is crowdsourcing? How is crowdsourcing useful in new product development?

Modifying a product is an ineffective strategy in the maturity period of the product life cycle because the product's decline is irreversible at this stage.

The amount of test marketing needed is the same for each new product.

The stage in which product ideas are presented to groups of target consumers physically or symbolically is referred to as ________.

Which of the following is most likely true of a product in the maturity stage of the product life cycle?

The business analysis stage is the final step in the new product development process.

Taco Bell test marketed Doritos Locos Tacos for three years and developed 45 prototypes. Once the decision was made to launch the new taco shell, it moved into the ________ stage of the new product development process.

Introducing a new product into the market is called ________.

Product modifications are an important source of new products for organizations.

Briefly explain each step in a typical product life cycle.

Briefly describe the maturity stage of the product life cycle.

Some companies are now appointing ________, whose job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems.

During concept testing, a product is evaluated by management without any input from external sources.

________ is the stage where a product and its proposed marketing program are introduced into realistic market settings.

The third part of a marketing strategy statement describes the ________ of a new product.

Briefly describe the steps in the new product development process.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Social Responsibility and Ethics

Filters

Exam 8: New Product Development and Product Life-Cycle Strategies

Which of the following is true about the introduction stage of a new product?

Manufacturers rely on distributors and suppliers as internal sources of new product ideas.

What is crowdsourcing? How is crowdsourcing useful in new product development?

Modifying a product is an ineffective strategy in the maturity period of the product life cycle because the product's decline is irreversible at this stage.

The amount of test marketing needed is the same for each new product.

The stage in which product ideas are presented to groups of target consumers physically or symbolically is referred to as ________.

Which of the following is most likely true of a product in the maturity stage of the product life cycle?

The business analysis stage is the final step in the new product development process.

Taco Bell test marketed Doritos Locos Tacos for three years and developed 45 prototypes. Once the decision was made to launch the new taco shell, it moved into the ________ stage of the new product development process.

Introducing a new product into the market is called ________.

Product modifications are an important source of new products for organizations.

Briefly explain each step in a typical product life cycle.

Briefly describe the maturity stage of the product life cycle.

Some companies are now appointing ________, whose job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems.

During concept testing, a product is evaluated by management without any input from external sources.

________ is the stage where a product and its proposed marketing program are introduced into realistic market settings.

The third part of a marketing strategy statement describes the ________ of a new product.

Briefly describe the steps in the new product development process.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Social Responsibility and Ethics

Filters