Question 1

Test marketing gives management the information needed to make a final decision about whether to launch a new product.

Accepted Answer

A) True 
 B)False

Question 2

Product development usually costs the least among all the steps of the new product development process.

Accepted Answer

A) True 
 B)False

Question 3

In the ________ stage,a firm most likely faces a trade-off between high market share and high current profit.

Accepted Answer

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

Question 4

List and explain some of the reasons why new products fail.

Accepted Answer

There are several reasons why a new prod

Question 5

Using ________,researchers measure consumer responses to new products and marketing tactics in laboratory stores or virtual online shopping environments.

Accepted Answer

A)  simulated test markets 
B)  controlled test markets 
C)  business analysis 
D)  standard test markets 
E)  concept development 
A)  simulated test markets 
B)  controlled test markets 
C)  business analysis 
D)  standard test markets 
E)  concept development

Question 6

Which of the following statements is most likely true about the new product development process?

Accepted Answer

A)  The first step in developing a new product involves determining any budgetary or distribution limitations. 
B)  Most firms discourage employees from contributing new product ideas because of legal concerns. 
C)  In most cases, concept testing is followed by concept development. 
D)  A product concept should be developed for each idea before it goes through idea screening. 
E)  Customers, competitors, and suppliers are major sources of new product ideas. 
A)  The first step in developing a new product involves determining any budgetary or distribution limitations. 
B)  Most firms discourage employees from contributing new product ideas because of legal concerns. 
C)  In most cases, concept testing is followed by concept development. 
D)  A product concept should be developed for each idea before it goes through idea screening. 
E)  Customers, competitors, and suppliers are major sources of new product ideas.

Question 7

Kallton is a multinational communications and information technology corporation.Its principal products are mobile telephones and tablets.It recently announced on its Web site that customers can suggest ideas for its upcoming product model.Contributors of short-listed ideas will be adequately rewarded.In this case,Kallton is using ________ to generate new product ideas.

Accepted Answer

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

Question 8

In the new product development process,the purpose of idea generation is to create a large number of ideas,and the purpose of the stages following it is to reduce that number.

Accepted Answer

A) True 
 B)False

Question 9

Briefly describe the steps in the new product development process.

Accepted Answer

The new product development process gene

Question 10

When developing a new product,concept testing should ideally be followed by marketing strategy development.

Accepted Answer

A) True 
 B)False

Question 11

Evans and Hills,a beverages manufacturing company,has developed a new line of specialty teas and is seeking regular input from the test marketing process.To facilitate this process,the firm uses BuyerScan,a software that generates store-by-store,week-by-week reports on the actual sales of tested products and the impact of in-store and in-home marketing efforts.Which of the following approaches does this scenario illustrate?

Accepted Answer

A)  standard test markets 
B)  inventory tracking 
C)  controlled test markets 
D)  simulated test markets 
E)  direct commercialization 
A)  standard test markets 
B)  inventory tracking 
C)  controlled test markets 
D)  simulated test markets 
E)  direct commercialization

Question 12

Hollingsworth is a retail company that is planning to release a new line of luxury personal care products.Its managers are now reviewing the sales history of similar products and conducting marketing surveys to estimate minimum and maximum sales for the product.In which of the following stages of the new product development process is the product?

Accepted Answer

A)  test marketing 
B)  idea screening 
C)  business analysis 
D)  marketing strategy development 
E)  concept testing 
A)  test marketing 
B)  idea screening 
C)  business analysis 
D)  marketing strategy development 
E)  concept testing

Question 13

If a product passes both the concept test and the product test,the next step is most likely to be ________.

Accepted Answer

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

Question 14

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

Accepted Answer

A)  business analysis 
B)  idea generation 
C)  concept screening 
D)  product development 
E)  test marketing 
A)  business analysis 
B)  idea generation 
C)  concept screening 
D)  product development 
E)  test marketing

Question 15

Which of the following steps of the new product development process would most likely use an R-W-W framework?

Accepted Answer

A)  idea generation 
B)  idea screening 
C)  concept testing 
D)  test marketing 
E)  commercialization 
A)  idea generation 
B)  idea screening 
C)  concept testing 
D)  test marketing 
E)  commercialization

Question 16

A product has hit the ________ stage when sales plunge to zero,or they drop to a low level where they continue for many years.

Accepted Answer

A)  decline 
B)  growth 
C)  maturity 
D)  ideation 
E)  analysis 
A)  decline 
B)  growth 
C)  maturity 
D)  ideation 
E)  analysis

Question 17

In which of the following cases is little or no test marketing most likely recommended for a new product?

Accepted Answer

A)  when the product requires a major investment 
B)  when management is unsure of the projected demand for the product 
C)  when the risks associated with introducing the product are high 
D)  when management is unsure of the marketing program for the product 
E)  when the costs of developing and introducing the product are low 
A)  when the product requires a major investment 
B)  when management is unsure of the projected demand for the product 
C)  when the risks associated with introducing the product are high 
D)  when management is unsure of the marketing program for the product 
E)  when the costs of developing and introducing the product are low

Question 18

The Consumer Product Safety Act of 1972 established the Consumer Product Safety Commission,which has the authority to ban or seize potentially harmful products and set severe penalties for violation of the law.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A)  product audit 
B)  product feature 
C)  product image 
D)  product framework 
E)  product concept 
A)  product audit 
B)  product feature 
C)  product image 
D)  product framework 
E)  product concept

Question 20

Briefly describe the maturity stage of the product life cycle.

Accepted Answer

At some point,a product's sales growth w

Test marketing gives management the information needed to make a final decision about whether to launch a new product.

Product development usually costs the least among all the steps of the new product development process.

In the ________ stage,a firm most likely faces a trade-off between high market share and high current profit.

List and explain some of the reasons why new products fail.

Using ________,researchers measure consumer responses to new products and marketing tactics in laboratory stores or virtual online shopping environments.

Which of the following statements is most likely true about the new product development process?

In the new product development process,the purpose of idea generation is to create a large number of ideas,and the purpose of the stages following it is to reduce that number.

Briefly describe the steps in the new product development process.

When developing a new product,concept testing should ideally be followed by marketing strategy development.

If a product passes both the concept test and the product test,the next step is most likely to be ________.

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

Which of the following steps of the new product development process would most likely use an R-W-W framework?

A product has hit the ________ stage when sales plunge to zero,or they drop to a low level where they continue for many years.

In which of the following cases is little or no test marketing most likely recommended for a new product?

The Consumer Product Safety Act of 1972 established the Consumer Product Safety Commission,which has the authority to ban or seize potentially harmful products and set severe penalties for violation of the law.

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

Briefly describe the maturity stage of the product life cycle.

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

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

Test marketing gives management the information needed to make a final decision about whether to launch a new product.

Product development usually costs the least among all the steps of the new product development process.

In the ________ stage,a firm most likely faces a trade-off between high market share and high current profit.

List and explain some of the reasons why new products fail.

Using ________,researchers measure consumer responses to new products and marketing tactics in laboratory stores or virtual online shopping environments.

Which of the following statements is most likely true about the new product development process?

In the new product development process,the purpose of idea generation is to create a large number of ideas,and the purpose of the stages following it is to reduce that number.

Briefly describe the steps in the new product development process.

When developing a new product,concept testing should ideally be followed by marketing strategy development.

If a product passes both the concept test and the product test,the next step is most likely to be ________.

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

Which of the following steps of the new product development process would most likely use an R-W-W framework?

A product has hit the ________ stage when sales plunge to zero,or they drop to a low level where they continue for many years.

In which of the following cases is little or no test marketing most likely recommended for a new product?

The Consumer Product Safety Act of 1972 established the Consumer Product Safety Commission,which has the authority to ban or seize potentially harmful products and set severe penalties for violation of the law.

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

Briefly describe the maturity stage of the product life cycle.

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

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