Question 1

For concept test, companies will frequently present customers with ________ of the concept for a reliable concept test.

Accepted Answer

A)  a verbal description 
B)  a PowerPoint slide 
C)  a picture 
D)  a physical presentation 
E)  a printed paragraph 
A)  a verbal description 
B)  a PowerPoint slide 
C)  a picture 
D)  a physical presentation 
E)  a printed paragraph

Question 2

The more formal "business attire" look of corporate dress of the 1980s and 1990s gave way to the "business casual" look of the 2000s and 2010s. This is an example of a ________.

Accepted Answer

A)  style 
B)  fashion 
C)  fad 
D)  subculture 
E)  norm 
A)  style 
B)  fashion 
C)  fad 
D)  subculture 
E)  norm

Question 3

Acquisition refers to ________.

Accepted Answer

A)  the buying of a whole company, a patent, or a license to produce someone else's product 
B)  an agreement between two or more commercial companies to produce a common product 
C)  a partnership between two companies to produce a product in different countries by sharing risks 
D)  investments made in a country's businesses by foreign citizens, often in the form of stocks 
E)  the development of original products, product improvements, product modifications, and new brands through the firm's own product development strategies 
A)  the buying of a whole company, a patent, or a license to produce someone else's product 
B)  an agreement between two or more commercial companies to produce a common product 
C)  a partnership between two companies to produce a product in different countries by sharing risks 
D)  investments made in a country's businesses by foreign citizens, often in the form of stocks 
E)  the development of original products, product improvements, product modifications, and new brands through the firm's own product development strategies

Question 4

Which of the following is a disadvantage of a team-based approach to new product development?

Accepted Answer

A)  It takes longer for the development of a new product. 
B)  The development effort is not as effective because of employee inexperience. 
C)  It decreases the efficiency of the new product development process. 
D)  It can result in organizational confusion and tension. 
E)  The process does not work with the shorter life cycles of many of today's products. 
A)  It takes longer for the development of a new product. 
B)  The development effort is not as effective because of employee inexperience. 
C)  It decreases the efficiency of the new product development process. 
D)  It can result in organizational confusion and tension. 
E)  The process does not work with the shorter life cycles of many of today's products.

Question 5

Marketers can prolong the lives of many products in the maturity or decline stages of the PLC, sometimes even moving these products back into the growth stage. How is this undertaken?

Accepted Answer

Marketers can change any element of the

Question 6

P&G introduced its 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. General Foods was able to enter the ________ stage of the new product development process before P&G could.

Accepted Answer

A)  commercialization 
B)  co-marketing 
C)  idea generation 
D)  idea screening 
E)  simulation 
A)  commercialization 
B)  co-marketing 
C)  idea generation 
D)  idea screening 
E)  simulation

Question 7

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

Accepted Answer

A)  to protect employees and laborers from harm 
B)  to evaluate new product ideas against a set of general criteria 
C)  to develop a new product concept into a physical product 
D)  to protect consumers from harm and the company from liability 
E)  to decide whether to maintain, harvest, or drop the product in the decline stage of the PLC 
A)  to protect employees and laborers from harm 
B)  to evaluate new product ideas against a set of general criteria 
C)  to develop a new product concept into a physical product 
D)  to protect consumers from harm and the company from liability 
E)  to decide whether to maintain, harvest, or drop the product in the decline stage of the PLC

Question 8

Differentiate between a product idea, a product concept, and a product image.

Accepted Answer

A product idea is an idea for a product

Question 9

Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of a(n) ________.

Accepted Answer

A)  new product development 
B)  acquisition 
C)  joint venture 
D)  licensing contract 
E)  divestment 
A)  new product development 
B)  acquisition 
C)  joint venture 
D)  licensing contract 
E)  divestment

Question 10

Why are competitors considered a good external idea source?

Accepted Answer

Marketers can pay particular attention t

Question 11

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.

Accepted Answer

-Product development begins when the com

Question 12

Which of the following is a common reason for new product failure?

Accepted Answer

A)  incorrect estimation of the market size 
B)  low product development costs 
C)  ineffective social marketing campaigns 
D)  low selling prices of products 
E)  patent ownership exclusively held by the company 
A)  incorrect estimation of the market size 
B)  low product development costs 
C)  ineffective social marketing campaigns 
D)  low selling prices of products 
E)  patent ownership exclusively held by the company

Question 13

Which of the following groups do marketers involve for the process of concept testing new products?

Accepted Answer

A)  suppliers 
B)  employees 
C)  target consumers 
D)  manufacturers 
E)  competitors 
A)  suppliers 
B)  employees 
C)  target consumers 
D)  manufacturers 
E)  competitors

Question 14

In a(n) ________, consumers interact with new products and marketing tactics in laboratory stores or virtual online shopping environments.

Accepted Answer

A)  standard test market 
B)  focus group 
C)  controlled test market 
D)  simulated test market 
E)  individual survey 
A)  standard test market 
B)  focus group 
C)  controlled test market 
D)  simulated test market 
E)  individual survey

Question 15

________ is the product life cycle period when sales fall off and profits drop.

Accepted Answer

A)  Introduction 
B)  Growth 
C)  Maturity 
D)  Decline 
E)  Product development 
A)  Introduction 
B)  Growth 
C)  Maturity 
D)  Decline 
E)  Product development

Question 16

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

Accepted Answer

A)  overcapacity 
B)  market pioneers 
C)  poor management 
D)  inadequate promotion 
E)  diminishing budgets 
A)  overcapacity 
B)  market pioneers 
C)  poor management 
D)  inadequate promotion 
E)  diminishing budgets

Question 17

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 18

Over the past few years, Binney and Smith's Crayola crayons has expanded to more than 80 countries around the world. Crayola crayons are in the ________ stage of the PLC.

Accepted Answer

A)  introduction 
B)  laggard 
C)  maturity 
D)  decline 
E)  incubation 
A)  introduction 
B)  laggard 
C)  maturity 
D)  decline 
E)  incubation

Question 19

Most products in the marketplace are in the ________ stage of the product life cycle.

Accepted Answer

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

Question 20

Explain common reasons for the failure of new products. What must be the goals for a company to create successful new products?

Accepted Answer

Although an idea may be good, the market

For concept test, companies will frequently present customers with ________ of the concept for a reliable concept test.

The more formal "business attire" look of corporate dress of the 1980s and 1990s gave way to the "business casual" look of the 2000s and 2010s. This is an example of a ________.

Acquisition refers to ________.

Which of the following is a disadvantage of a team-based approach to new product development?

Marketers can prolong the lives of many products in the maturity or decline stages of the PLC, sometimes even moving these products back into the growth stage. How is this undertaken?

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

Differentiate between a product idea, a product concept, and a product image.

Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of a(n) ________.

Why are competitors considered a good external idea source?

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.

Which of the following is a common reason for new product failure?

Which of the following groups do marketers involve for the process of concept testing new products?

In a(n) ________, consumers interact with new products and marketing tactics in laboratory stores or virtual online shopping environments.

________ is the product life cycle period when sales fall off and profits drop.

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

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?

Over the past few years, Binney and Smith's Crayola crayons has expanded to more than 80 countries around the world. Crayola crayons are in the ________ stage of the PLC.

Most products in the marketplace are in the ________ stage of the product life cycle.

Explain common reasons for the failure of new products. What must be the goals for a company to create successful new products?

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

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-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

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 9: Developing New Products and Managing the Product Life Cycle

For concept test, companies will frequently present customers with ________ of the concept for a reliable concept test.

The more formal "business attire" look of corporate dress of the 1980s and 1990s gave way to the "business casual" look of the 2000s and 2010s. This is an example of a ________.

Acquisition refers to ________.

Which of the following is a disadvantage of a team-based approach to new product development?

Marketers can prolong the lives of many products in the maturity or decline stages of the PLC, sometimes even moving these products back into the growth stage. How is this undertaken?

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

Differentiate between a product idea, a product concept, and a product image.

Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of a(n) ________.

Why are competitors considered a good external idea source?

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.

Which of the following is a common reason for new product failure?

Which of the following groups do marketers involve for the process of concept testing new products?

In a(n) ________, consumers interact with new products and marketing tactics in laboratory stores or virtual online shopping environments.

________ is the product life cycle period when sales fall off and profits drop.

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

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?

Over the past few years, Binney and Smith's Crayola crayons has expanded to more than 80 countries around the world. Crayola crayons are in the ________ stage of the PLC.

Most products in the marketplace are in the ________ stage of the product life cycle.

Explain common reasons for the failure of new products. What must be the goals for a company to create successful new products?

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

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-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

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters