Question 1

A firm can obtain new products in two ways: by acquisition or by new-product development.

Accepted Answer

A) True 
 B)False

Question 2

The purpose of the idea generation stage is to create a few ideas and the purpose of succeeding stages is to increase the number of new-product ideas.

Accepted Answer

A) True 
 B)False

Question 3

The R-W-W framework is used in the second step of the new-product development process which involves ________.

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 4

Team-based new-product development encourages employees of all departments to work within the roles and boundaries of their individual department and combine the results of their efforts at the commercialization stage.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following represents an external source of new-product ideas?

Accepted Answer

A) executives 
B) salespeople 
C) engineers 
D) manufacturing staff 
E) suppliers 
A) executives 
B) salespeople 
C) engineers 
D) manufacturing staff 
E) suppliers

Question 6

Although products that remain in the maturity stage of the PLC seem unchanged,the most successful ones actually evolve to meet changing consumer needs.

Accepted Answer

A) True 
 B)False

Question 7

Toby's specialized in producing a wide range of clothes and accessories for newborns and infants up to the age of 1 year.Pink is a market leader in the industry for clothes and accessories for toddlers and children up to age four.Recently,Pink and Toby's reached an agreement by the terms of which Pink will be able to sell all of Toby's products and thus target a larger market of children ranging from newborns to toddlers.Which of the following statements would explain this increase in Pink's product offerings?

Accepted Answer

A) Pink and Toby's are competing in different market segments in the same industry. 
B) Pink acquired Toby's and thus has new products that it can sell in the market. 
C) Pink commercialized its existing products for children between the ages of two and four. 
D) Toby's purchased 51% of the shares of Pink and its holdings. 
E) Toby's and Pink have engaged in an internal marketing strategy in this scenario. 
A) Pink and Toby's are competing in different market segments in the same industry. 
B) Pink acquired Toby's and thus has new products that it can sell in the market. 
C) Pink commercialized its existing products for children between the ages of two and four. 
D) Toby's purchased 51% of the shares of Pink and its holdings. 
E) Toby's and Pink have engaged in an internal marketing strategy in this scenario.

Question 8

The team-based new-product development approach is faster because departments work closely together through ________.

Accepted Answer

A) divisional teams 
B) traditional teams 
C) self-reference groups 
D) cross-functional teams 
E) departmental teams 
A) divisional teams 
B) traditional teams 
C) self-reference groups 
D) cross-functional teams 
E) departmental teams

Question 9

New products include original products that the firm develops through its own R&D efforts.

Accepted Answer

A) True 
 B)False

Question 10

Wayne Industries is building a new prototype riding lawnmower especially for women.The marketing strategy for the product has been developed and presented.The lawnmower is now being tested rigorously.This step will ensure that the product meets all the CPSC product specifications and leaves little chance for any product liability issues.Once the prototype of the lawnmower passes product tests,the next step is ________.

Accepted Answer

A) test marketing 
B) portfolio analysis 
C) commercialization 
D) internal marketing 
E) business analysis 
A) test marketing 
B) portfolio analysis 
C) commercialization 
D) internal marketing 
E) business analysis

Question 11

Which of the following costs is most likely associated with the commercialization stage of new-product development?

Accepted Answer

A) building or renting a manufacturing facility 
B) paying groups of consumers for participating in crowdsourcing activities 
C) determining the product's planned price, distribution, and marketing budget 
D) developing a prototype of the product 
E) identifying target markets 
A) building or renting a manufacturing facility 
B) paying groups of consumers for participating in crowdsourcing activities 
C) determining the product's planned price, distribution, and marketing budget 
D) developing a prototype of the product 
E) identifying target markets

Question 12

Which of the following statements is true with regard to the new-product development process?

Accepted Answer

A) The first stage in the new-product development process is an idea-reducing step. 
B) When developing new-product ideas, firms restrict the process to internal sources of ideas. 
C) Intrapreneurial programs are an external source of new-product ideas. 
D) Crowdsourcing is an internal source of new-product ideas. 
E) The first stage in this process involves a systematic search for new-product ideas. 
A) The first stage in the new-product development process is an idea-reducing step. 
B) When developing new-product ideas, firms restrict the process to internal sources of ideas. 
C) Intrapreneurial programs are an external source of new-product ideas. 
D) Crowdsourcing is an internal source of new-product ideas. 
E) The first stage in this process involves a systematic search for new-product ideas.

Question 13

In the ________ stage,a product's sales growth slows or levels off.

Accepted Answer

A) introduction 
B) growth 
C) maturity 
D) decline 
E) phase-in 
A) introduction 
B) growth 
C) maturity 
D) decline 
E) phase-in

Question 14

A product concept is defined as ________.

Accepted Answer

A) a product idea that is at the stage of brainstorming 
B) a detailed version of the idea stated in meaningful consumer terms 
C) the way consumers perceive an actual or potential product 
D) an idea for a possible product that the company can see itself offering to the market 
E) an idea for a possible product design that was implemented without screening 
A) a product idea that is at the stage of brainstorming 
B) a detailed version of the idea stated in meaningful consumer terms 
C) the way consumers perceive an actual or potential product 
D) an idea for a possible product that the company can see itself offering to the market 
E) an idea for a possible product design that was implemented without screening

Question 15

Habers and Mills had developed a new range of home appliances called Green Home.These appliances had a certification stating that they minimized CFC emissions and energy consumption.The company planned to release the Green Home appliances in 52 stores across 20 countries where Habers and Mills had its stores or franchisees.Though the test marketing process for the Green Home line of products had been completed well ahead of time and the new products were ready for commercialization,the company waited three months to release the final product line on the World Environment Day.Which of the following considerations explains the manner in which Habers and Mills released the Green Home line of appliances?

Accepted Answer

A) whether to launch the product in a single location 
B) whether to launch the product in a region 
C) whether to launch the product into full national distribution 
D) when to time the new product introduction 
E) when to develop a planned market rollout 
A) whether to launch the product in a single location 
B) whether to launch the product in a region 
C) whether to launch the product into full national distribution 
D) when to time the new product introduction 
E) when to develop a planned market rollout

Question 16

Anita's DayCare plans to offer third-shift childcare,based upon the opening of two new manufacturing plants in the area.Together the plants will hire 423 employees and run all three shifts.Initial test marketing results look promising.To launch this new service,Anita must first decide on ________.

Accepted Answer

A) timing 
B) employee schedules 
C) identifying suitable new employees 
D) local and state regulations 
E) menu offerings 
A) timing 
B) employee schedules 
C) identifying suitable new employees 
D) local and state regulations 
E) menu offerings

Question 17

Explain why so many new products fail and how a company can improve its odds of new product success.

Accepted Answer

Although an idea may be good,the market

A firm can obtain new products in two ways: by acquisition or by new-product development.

The purpose of the idea generation stage is to create a few ideas and the purpose of succeeding stages is to increase the number of new-product ideas.

The R-W-W framework is used in the second step of the new-product development process which involves ________.

Team-based new-product development encourages employees of all departments to work within the roles and boundaries of their individual department and combine the results of their efforts at the commercialization stage.

Which of the following represents an external source of new-product ideas?

Although products that remain in the maturity stage of the PLC seem unchanged,the most successful ones actually evolve to meet changing consumer needs.

The team-based new-product development approach is faster because departments work closely together through ________.

New products include original products that the firm develops through its own R&D efforts.

Which of the following costs is most likely associated with the commercialization stage of new-product development?

Which of the following statements is true with regard to the new-product development process?

In the ________ stage,a product's sales growth slows or levels off.

A product concept is defined as ________.

Anita's DayCare plans to offer third-shift childcare,based upon the opening of two new manufacturing plants in the area.Together the plants will hire 423 employees and run all three shifts.Initial test marketing results look promising.To launch this new service,Anita must first decide on ________.

Explain why so many new products fail and how a company can improve its odds of new product success.

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

Product,Services,and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 8: Developing New Products and Managing the Product Life Cycle

A firm can obtain new products in two ways: by acquisition or by new-product development.

The purpose of the idea generation stage is to create a few ideas and the purpose of succeeding stages is to increase the number of new-product ideas.

The R-W-W framework is used in the second step of the new-product development process which involves ________.

Team-based new-product development encourages employees of all departments to work within the roles and boundaries of their individual department and combine the results of their efforts at the commercialization stage.

Which of the following represents an external source of new-product ideas?

Although products that remain in the maturity stage of the PLC seem unchanged,the most successful ones actually evolve to meet changing consumer needs.

The team-based new-product development approach is faster because departments work closely together through ________.

New products include original products that the firm develops through its own R&D efforts.

Which of the following costs is most likely associated with the commercialization stage of new-product development?

Which of the following statements is true with regard to the new-product development process?

In the ________ stage,a product's sales growth slows or levels off.

A product concept is defined as ________.

Anita's DayCare plans to offer third-shift childcare,based upon the opening of two new manufacturing plants in the area.Together the plants will hire 423 employees and run all three shifts.Initial test marketing results look promising.To launch this new service,Anita must first decide on ________.

Explain why so many new products fail and how a company can improve its odds of new product success.

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

Product,Services,and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters