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

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.

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

Company A introduces a new product ABC and Company B rushes to market its own product XYZ,which eclipses product ABC in terms of sales.This act illustrates ________.

The potential market strengths and weaknesses are being determined for a new-product idea at Art for Kids.In what stage of the new-product development process does this occur?

New World Releases is conducting a business analysis to determine which of the many new songs available to management should be released.Sales must be estimated before costs can be estimated.Which of the following did your text recommend for forecasting sales?

Companies often do not test-market simple line extensions or ________________ products.

Why might ad expenditures be high for products in the introduction stage of the PLC?

Atlas Asia Pte Ltd lacks the confidence,capital,and capacity to launch its new product into full national or international distribution.Test market results look promising,so what should be management's next step?

How might competitors be a good external idea source?

Following the decision to "time" the introduction of the new product,a company must decide ________ to launch the new product.

Low-carb diets fell in and out of favorability with customers quickly.This is an example of a ________.

A product idea is an idea for a possible product a company can offer the market,while a product concept is a detailed version of the idea stated in meaningful consumer terms.

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

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

The government may prevent a company from adding products through acquisitions if acquisition threatens to lessen competition.

In a ________,new products and marketing tactics are tested among specifically identified groups of customers and stores.

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

Which of the following statements best explains why idea screening may be the most important step of new-product development?

In which stage of the PLC will promotional expenditures be high in an attempt to respond to increasing competition?

When a company decides to maintain a product in the decline stage,it will reduce costs and hope that sales hold up to increase the profits in the short run.