Exam 10: Developing New Products and Services

Detailed financial projections and determination if a new product could be protected with patents or copyright are a part of which stage of the new-product development process?

A product can be classified as new if it ________ from existing products.

The tendency for some product developers to add additional features or functionality to a product that are not of any benefit to most consumers and unnecessarily add to the cost of the product is referred to as

The Vermont Teddy Bear Co. sells handmade teddy bears designed to be given as gifts for almost every occasion imaginable. The Love Bandit Bear is designed for people to give on Valentine's Day. The unique identification number that the Vermont Teddy Bear Co. uses to distinguish this teddy bear from the others in order to track it in the warehouse is called

In terms of brand loyalty, consumers prefer specific brands but will accept substitutes for which type of consumer product?

Open innovation may enhance the ________ stage of the new-product development process.

Developing a pool of concepts to serve as candidates for new products is the ________ stage of the new-product development process.

At Mattel, Barbie is child-tested to be sure the doll cannot be broken apart, creating pieces that could accidentally choke a child. This type of consumer or safety test occurs during the ________ stage of the new-product development process.

If a firm contracts with IRI, a leading test market company, to track sales of a new product made to a panel of consumers and to assess the effectiveness of advertising and other promotion tactics, what type of test market is this?

You greatly admire a set of Waterford crystal serving bowls you see at a dinner party and decide to buy two despite their cost of $250 each. They are only available in your area in a Waterford shop 40 miles from campus. Into which classification of consumer products would the Waterford crystal serving bowls fall?

In terms of promotion, which of the following consumer product types stresses product differentiation from competitors but not status?

To save time and money, companies often turn to ________, a technique that somewhat replicates a full-scale test market.

IDEO is a company that

During which stage of the new-product development process are audiences allowed to preview actual movies like Aquaman or Spider-Man: Into the Spider-Verse (a sneak preview) so that changes might be made before they are released to the general public?

How can a firm use a test market in its new-product development process?

A good, as opposed to a service or an idea, has tangible attributes that a consumer's ________ can perceive.

Explain the differences in promotion between convenience, shopping, specialty, and unsought products.

Which of these is considered a service?

With respect to price and availability, shopping products are likely to be

The promotion for which product type would stress price, availability, and awareness?