Exam 9: New-Product Development and Product Life Cycle Strategies

Big Moose Toys is a market pioneer introducing a modern version of Bubble the Moose, a character from an animated television series originally broadcast in the '50s and '60s. The company's version of Sandy the Flying Squirrel, a character from the show targeted to baby boomers, was a strong success. Since the firm is a market pioneer, it needs to make the new launch strategy for Bubble consistent with the intended ________.

Executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the ________ stage.

A product idea is an idea for a possible product that a company can offer the market.

Each product will have a life cycle, although its exact shape and length is not known in advance. Briefly explain each phase of the product life cycle.

The international growth of many professional and business services such as accounting, consulting, and advertising led to the globalization of the client companies they served.

Which of the following best describes the role of a product steward?

A company launching a new product into the market must first decide where to launch the product.

The business analysis stage represents the first large jump in financial investment in the new-product development process.

Which of the following statements is true of the new-product development process?

Which of the following stages of the PLC is characterized with high promotional expenditures that result from an effort to create consumer awareness?

Which of the following would lead to greater competition in the maturity stage of the PLC?

Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be management's next step?

A ________ is the way consumers perceive an actual or potential product.

Yummy Peanut Butter created a new coconut-flavored peanut butter that it tested in a small number of representative cities. The company plans to use the results to forecast national sales and profits. Which of the following did the firm use?

Which of the following stages of the new-product development process occurs immediately after the completion of the business analysis for the product or service?

New-product development starts with ________.

Briefly describe the steps in the new-product development process.

Neutron Inc. is conducting a business analysis to determine which of the many newly developed apps should be released. To estimate sales, the company must ________.

Provide the major sources of external new-product ideas and explain why these sources offer advantages over internal sources.

Because of ________, a company cannot make its product illegally similar to a competitor's already established product.