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

Introducing a new product into the market is called ________.

Acquisition refers to ________.

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

As long as a product is not identical to a competitor's product offering, a company can introduce, market and sell it without penalty.

Which of the following stages of the PLC is characterized with the same level or slightly higher level of promotional expenditures in an attempt to respond to increasing competition?

Blair Housewares wants to add new products to its existing line of products. Managers are correct in believing that the purpose of idea generation is to create a few ideas, and the purpose of succeeding stages is to increase that number.

JumBo Games is in the commercialization stage. The first decision that the firm should make while introducing the product in the market is introduction timing.

Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes product tests, the next step is ________.

Which of the following focuses on finding new ways to solve customer problems and create more customer-satisfying experiences?

When Heinz introduced EZ Squirt packaging and new colors such as Blastin' Green and Awesome Orange to revitalize consumer buying, the company was modifying the ________.

According to the text, the search for new product ideas should most likely be ________.

Explain concept testing.

A product idea is ________.

CellTones, a new company selling several types of cellular phones, has closely modeled its products after successful products that are already in the marketplace. As it prepares to enter the market with its new products and services, which of the following should concern CellTones the most?

Apple's iPod has been called "one of the greatest consumer electronics hits of all time." iPods have been sold in huge numbers, and Apple captures a large share of the music player market. This success has attracted many large, resourceful competitors. The iPod is in the ________ stage of the product life cycle.

Define commercialization. Explain two important decisions the company must make during this stage.

Which of the following would most likely be included in an executive's write up of a new product idea to be presented to a new product committee?

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

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

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 the Moose consistent with the intended ________.