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

JoAnn Fabrics Inc. has created a new combination of colors and fabric types. The firm wants to know how consumers will perceive the new product. The firm is concerned with the product ________.

Who can pass along information about new concepts or techniques to use in new products?

Executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the ________ stage.

The international growth of many professional and business services such as accounting, consulting, and advertising led to the globalization of the client companies they served.

The product life cycle presents challenges. Which of the following is LEAST likely to require a company to adapt its marketing strategies?

Which of the following statements is true of the idea generation stage in the new product development process?

Why are customers often considered the most important sources of new product ideas?

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

The product development stage requires ________.

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

Kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. After the cereal begins to appear in these new markets, the company increases its promotion expenditure to counteract competitive responses. Kellogg's is in the ________ stage of the product life cycle.

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

Most successful products are immediately accepted, and quickly move to the growth stage of the PLC.

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

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

At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance work in cross-functional groups to save time and money in the new product development process. Fantastic Flavors uses a ________ approach.

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

Because of ________, a company cannot make its product illegally similar to a competitor's already established product.

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