Question 1

New-product development begins with a systematic search for new product ideas through idea generation.

Accepted Answer

A) True 
 B)False

Question 2

Product improvements, product modifications, and original products can all be classified as ________.

Accepted Answer

A)  blueprints 
B)  new products 
C)  prototypes 
D)  product extensions 
E)  test products 
A)  blueprints 
B)  new products 
C)  prototypes 
D)  product extensions 
E)  test products

Question 3

A review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company's objectives is called a ________.

Accepted Answer

A)  business feasibility plan 
B)  marketing strategy development 
C)  business analysis 
D)  product acceptance 
E)  business proposal 
A)  business feasibility plan 
B)  marketing strategy development 
C)  business analysis 
D)  product acceptance 
E)  business proposal

Question 4

To avoid too few new-product ideas and the failure of many good ideas, management should install an innovation management system that collects, reviews, evaluates, and manages new-product ideas.

Accepted Answer

A) True 
 B)False

Question 5

John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new-product development process does this exemplify?

Accepted Answer

A)  idea screening 
B)  idea generation 
C)  concept testing 
D)  product development 
E)  product manufacturing 
A)  idea screening 
B)  idea generation 
C)  concept testing 
D)  product development 
E)  product manufacturing

Question 6

In the ________ stage of the new-product development process, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them.

Accepted Answer

A)  product design 
B)  idea generation 
C)  concept development and testing 
D)  product development 
E)  product activation 
A)  product design 
B)  idea generation 
C)  concept development and testing 
D)  product development 
E)  product activation

Question 7

Which stage in the PLC normally lasts longest and poses strong challenges to marketing managers?

Accepted Answer

A)  growth 
B)  decline 
C)  maturity 
D)  introduction 
E)  adoption 
A)  growth 
B)  decline 
C)  maturity 
D)  introduction 
E)  adoption

Question 8

A company can install a(n) ________ management system to collect, review, evaluate, and manage new-product ideas.

Accepted Answer

A)  quality 
B)  innovation 
C)  content 
D)  supply chain 
E)  customer relationship 
A)  quality 
B)  innovation 
C)  content 
D)  supply chain 
E)  customer relationship

Question 9

P&G introduced Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This illustrates ________.

Accepted Answer

A)  why many companies engage in crowdsourcing 
B)  one of the problems associated with test marketing 
C)  why prototypes are so important 
D)  how idea screening can make a product a commercial success 
E)  the importance of different sources for idea generation 
A)  why many companies engage in crowdsourcing 
B)  one of the problems associated with test marketing 
C)  why prototypes are so important 
D)  how idea screening can make a product a commercial success 
E)  the importance of different sources for idea generation

Question 10

Acquisition involves the purchase of a whole company, a patent, or a license to produce someone else's product.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following best characterizes the decline stage of product development?

Accepted Answer

A)  rapid market acceptance 
B)  slow sales growth 
C)  sales and profits decline 
D)  high investment costs 
E)  increasing profits 
A)  rapid market acceptance 
B)  slow sales growth 
C)  sales and profits decline 
D)  high investment costs 
E)  increasing profits

Question 12

Using the PLC concept to develop marketing strategy can be problematic because strategy is both a cause and a result of the product's life cycle.

Accepted Answer

A) True 
 B)False

Question 13

Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process.

Accepted Answer

A)  business transformation 
B)  test marketing 
C)  business analysis 
D)  business process reengineering 
E)  concept testing 
A)  business transformation 
B)  test marketing 
C)  business analysis 
D)  business process reengineering 
E)  concept testing

Question 14

A company getting ready to launch a new product must make several decisions. The company must first decide on ________.

Accepted Answer

A)  whether to launch the product in a single location 
B)  whether to launch the product in a region 
C)  whether to launch the product into full national distribution 
D)  when to introduce the product 
E)  when to develop a planned market rollout 
A)  whether to launch the product in a single location 
B)  whether to launch the product in a region 
C)  whether to launch the product into full national distribution 
D)  when to introduce the product 
E)  when to develop a planned market rollout

Question 15

Why are competitors considered a good external idea source?

Accepted Answer

Marketers can pay particular attention t

Question 16

Which of the following is included in the third part of the marketing strategy statement?

Accepted Answer

A)  the planned value proposition 
B)  distribution strategy 
C)  the product's planned price 
D)  marketing budget 
E)  the planned long-run sales 
A)  the planned value proposition 
B)  distribution strategy 
C)  the product's planned price 
D)  marketing budget 
E)  the planned long-run sales

Question 17

Concept testing works best with people who are familiar with the new idea and the new product's purpose. This generally includes top management, the sales force, and research and development.

Accepted Answer

A) True 
 B)False

Question 18

Many companies have developed ________ programs that encourage employees to develop new-product ideas.

Accepted Answer

A)  management 
B)  inshoring 
C)  entrepreneurial 
D)  intrapreneurial 
E)  offshoring 
A)  management 
B)  inshoring 
C)  entrepreneurial 
D)  intrapreneurial 
E)  offshoring

Question 19

Differentiate between controlled test markets and simulated test markets.

Accepted Answer

In controlled test markets new products

Question 20

Which of the following is the goal of the team-based new-product development approach when it uses cross-functional teams that overlap the steps in the process?

Accepted Answer

A)  gain a big competitive edge by getting the right new products to market 
B)  save time and increase effectiveness 
C)  increase production efficiency and customer satisfaction 
D)  speed product distribution to market and reduce costs 
E)  reduce organizational tension and confusion 
A)  gain a big competitive edge by getting the right new products to market 
B)  save time and increase effectiveness 
C)  increase production efficiency and customer satisfaction 
D)  speed product distribution to market and reduce costs 
E)  reduce organizational tension and confusion

New-product development begins with a systematic search for new product ideas through idea generation.

Product improvements, product modifications, and original products can all be classified as ________.

A review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company's objectives is called a ________.

To avoid too few new-product ideas and the failure of many good ideas, management should install an innovation management system that collects, reviews, evaluates, and manages new-product ideas.

John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new-product development process does this exemplify?

In the ________ stage of the new-product development process, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them.

Which stage in the PLC normally lasts longest and poses strong challenges to marketing managers?

A company can install a(n) ________ management system to collect, review, evaluate, and manage new-product ideas.

P&G introduced Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This illustrates ________.

Acquisition involves the purchase of a whole company, a patent, or a license to produce someone else's product.

Which of the following best characterizes the decline stage of product development?

Using the PLC concept to develop marketing strategy can be problematic because strategy is both a cause and a result of the product's life cycle.

Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process.

A company getting ready to launch a new product must make several decisions. The company must first decide on ________.

Why are competitors considered a good external idea source?

Which of the following is included in the third part of the marketing strategy statement?

Concept testing works best with people who are familiar with the new idea and the new product's purpose. This generally includes top management, the sales force, and research and development.

Many companies have developed ________ programs that encourage employees to develop new-product ideas.

Differentiate between controlled test markets and simulated test markets.

Which of the following is the goal of the team-based new-product development approach when it uses cross-functional teams that overlap the steps in the process?

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets 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

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

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

New-product development begins with a systematic search for new product ideas through idea generation.

Product improvements, product modifications, and original products can all be classified as ________.

A review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company's objectives is called a ________.

To avoid too few new-product ideas and the failure of many good ideas, management should install an innovation management system that collects, reviews, evaluates, and manages new-product ideas.

John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new-product development process does this exemplify?

In the ________ stage of the new-product development process, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them.

Which stage in the PLC normally lasts longest and poses strong challenges to marketing managers?

A company can install a(n) ________ management system to collect, review, evaluate, and manage new-product ideas.

P&G introduced Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This illustrates ________.

Acquisition involves the purchase of a whole company, a patent, or a license to produce someone else's product.

Which of the following best characterizes the decline stage of product development?

Using the PLC concept to develop marketing strategy can be problematic because strategy is both a cause and a result of the product's life cycle.

Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process.

A company getting ready to launch a new product must make several decisions. The company must first decide on ________.

Why are competitors considered a good external idea source?

Which of the following is included in the third part of the marketing strategy statement?

Concept testing works best with people who are familiar with the new idea and the new product's purpose. This generally includes top management, the sales force, and research and development.

Many companies have developed ________ programs that encourage employees to develop new-product ideas.

Differentiate between controlled test markets and simulated test markets.

Which of the following is the goal of the team-based new-product development approach when it uses cross-functional teams that overlap the steps in the process?

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets 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

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters