Question 1

Research has shown that at least 40 percent of firms assign a marketing manager whose job it is to manage the phased new products process.

Accepted Answer

A) True 
 B)False

Question 2

When a current product of a company has been enhanced to better serve consumer needs, the product will fall into the new product category of _____.

Accepted Answer

A)  new-to-the-world products 
B)  repositionings 
C)  line extensions 
D)  product improvements 
A)  new-to-the-world products 
B)  repositionings 
C)  line extensions 
D)  product improvements

Question 3

_____ refer to those products that are retargeted for a new use or application.

Accepted Answer

A)  "Flanker" brands 
B)  Line extensions 
C)  Repositionings 
D)  New-to-the-world products 
A)  "Flanker" brands 
B)  Line extensions 
C)  Repositionings 
D)  New-to-the-world products

Question 4

New-to-the-firm products revolutionize existing product categories or define wholly new ones.

Accepted Answer

A) True 
 B)False

Question 5

Luminos Co., a popular manufacturer of kitchen appliances, decides to enter the manufacturing sector of crockery and dinnerware. It markets a line of dinnerware, Illuminia, for the first time in its history. Its dinnerware will most likely fall into which of the following new product categories?

Accepted Answer

A)  New-to-the-world products 
B)  New-to-the-firm products 
C)  Line extensions 
D)  Product improvements 
A)  New-to-the-world products 
B)  New-to-the-firm products 
C)  Line extensions 
D)  Product improvements

Question 6

Between the phases of the new products process, there are points when:

Accepted Answer

A)  the actual developmental tasks of the phases need to be carried out. 
B)  the hard Go/No Go decisions need to be made. 
C)  the process is stalled, and no work is done. 
D)  the process enters into buffer phases. 
A)  the actual developmental tasks of the phases need to be carried out. 
B)  the hard Go/No Go decisions need to be made. 
C)  the process is stalled, and no work is done. 
D)  the process enters into buffer phases.

Question 7

In a new product process, an evaluation task that includes conditional "Go" decisions is sometimes called a fuzzy gate.

Accepted Answer

A) True 
 B)False

Question 8

Firms with a global innovation culture:

Accepted Answer

A)  have a disadvantage in implementing global launches. 
B)  are unwary of the differences in customer needs and preferences. 
C)  can better manage the R&D tasks associated with the new products process. 
D)  are only open to domestic markets. 
A)  have a disadvantage in implementing global launches. 
B)  are unwary of the differences in customer needs and preferences. 
C)  can better manage the R&D tasks associated with the new products process. 
D)  are only open to domestic markets.

Question 9

Describe the various categories of new products.

Accepted Answer

The various categories of new products a

Question 10

A firm's global presence is no guarantee that it will automatically know how to efficiently manage its global operations.

Accepted Answer

A) True 
 B)False

Question 11

Discuss the terms "product innovation" and "process innovation."

Accepted Answer

The term "process innovation" usually ap

Question 12

New-to-the-firm products are:

Accepted Answer

A)  inventions that create a whole new market. 
B)  products that take a firm into a category new to it. 
C)  products that are new to the world, but are not new to the firm. 
D)  products that are retargeted for a new use or application. 
A)  inventions that create a whole new market. 
B)  products that take a firm into a category new to it. 
C)  products that are new to the world, but are not new to the firm. 
D)  products that are retargeted for a new use or application.

Question 13

Which of the following firms will have the most effective worldwide new product programs?

Accepted Answer

A)  Firms that have implemented total quality management 
B)  Firms that use quality circles 
C)  Firms that follow a global innovation culture 
D)  Firms that are leaders in their respective industries 
A)  Firms that have implemented total quality management 
B)  Firms that use quality circles 
C)  Firms that follow a global innovation culture 
D)  Firms that are leaders in their respective industries

Question 14

Which of the following categories of new products would present higher risks and uncertainties as well as associated costs of development and launch?

Accepted Answer

A)  Line extensions 
B)  New-to-the-world products 
C)  Improvised products 
D)  Repositionings 
A)  Line extensions 
B)  New-to-the-world products 
C)  Improvised products 
D)  Repositionings

Question 15

New products can be tangible goods or services.

Accepted Answer

A) True 
 B)False

Question 16

Well-known business writer, Gary Hamel, has described _____ as "the most important business issue of our time."

Accepted Answer

A)  product distribution 
B)  the creation of radical innovation 
C)  advertising and marketing of services 
D)  product line extensions 
A)  product distribution 
B)  the creation of radical innovation 
C)  advertising and marketing of services 
D)  product line extensions

Question 17

Which of the following is true of new product categories?

Accepted Answer

A)  If a product is new-to-the-world, the risks and uncertainties faced by the firm are higher. 
B)  If a product is new-to-the-firm, the associated costs of development and launch tend to be lower. 
C)  Generally, all the new product categories are innovations. 
D)  New product categories have to be managed in a similar fashion. 
A)  If a product is new-to-the-world, the risks and uncertainties faced by the firm are higher. 
B)  If a product is new-to-the-firm, the associated costs of development and launch tend to be lower. 
C)  Generally, all the new product categories are innovations. 
D)  New product categories have to be managed in a similar fashion.

Question 18

Which of the following statements is true of the importance of new products?

Accepted Answer

A)  The failure rate for new products is estimated to be around 90 percent. 
B)  The new products process is exceedingly difficult. 
C)  Radical innovation is detrimental to the survival of a firm. 
D)  All the individuals involved in the creation of a new product generally belong to the same department. 
A)  The failure rate for new products is estimated to be around 90 percent. 
B)  The new products process is exceedingly difficult. 
C)  Radical innovation is detrimental to the survival of a firm. 
D)  All the individuals involved in the creation of a new product generally belong to the same department.

Question 19

Designethic Co. is known for selling cards, gift-wrapping materials, and collectibles. In a bid to compete with its counterparts, Designethic added fresh-cut flower arrangements to its range of product offerings in the year 2015. Into which of the following new product categories would the floral arrangements fall?

Accepted Answer

A)  New-to-the-world products 
B)  New-to-the-firm products 
C)  Line extensions 
D)  Repositionings 
A)  New-to-the-world products 
B)  New-to-the-firm products 
C)  Line extensions 
D)  Repositionings

Question 20

Briefly explain the terms: new products process, product innovation charter, and product portfolio management.

Accepted Answer

The new products process is the procedur

Research has shown that at least 40 percent of firms assign a marketing manager whose job it is to manage the phased new products process.

When a current product of a company has been enhanced to better serve consumer needs, the product will fall into the new product category of _____.

_____ refer to those products that are retargeted for a new use or application.

New-to-the-firm products revolutionize existing product categories or define wholly new ones.

Luminos Co., a popular manufacturer of kitchen appliances, decides to enter the manufacturing sector of crockery and dinnerware. It markets a line of dinnerware, Illuminia, for the first time in its history. Its dinnerware will most likely fall into which of the following new product categories?

Between the phases of the new products process, there are points when:

In a new product process, an evaluation task that includes conditional "Go" decisions is sometimes called a fuzzy gate.

Firms with a global innovation culture:

Describe the various categories of new products.

A firm's global presence is no guarantee that it will automatically know how to efficiently manage its global operations.

Discuss the terms "product innovation" and "process innovation."

New-to-the-firm products are:

Which of the following firms will have the most effective worldwide new product programs?

Which of the following categories of new products would present higher risks and uncertainties as well as associated costs of development and launch?

New products can be tangible goods or services.

Well-known business writer, Gary Hamel, has described _____ as "the most important business issue of our time."

Which of the following is true of new product categories?

Which of the following statements is true of the importance of new products?

Briefly explain the terms: new products process, product innovation charter, and product portfolio management.

The New Products Process

Opportunity Identification and Selection: Strategic Planning for New Products

The Product Concept and Ready-Made New Product Ideas

New Product Ideas: the Problem Find-Solve Approach

New Product Ideas: Analytical Attribute Approaches

Concept Evaluation and Testing

The Full Screen

Sales Forecasting and Financial Analysis

Product Protocol

Design

Development Team Management

Product Use Testing

Strategic Launch Planning

Implementation of the Strategic Plan

Market Testing

Launch Management

Public Policy Issues

Filters

Exam 1: The Strategic Elements of Product Development

Research has shown that at least 40 percent of firms assign a marketing manager whose job it is to manage the phased new products process.

When a current product of a company has been enhanced to better serve consumer needs, the product will fall into the new product category of _____.

_____ refer to those products that are retargeted for a new use or application.

New-to-the-firm products revolutionize existing product categories or define wholly new ones.

Luminos Co., a popular manufacturer of kitchen appliances, decides to enter the manufacturing sector of crockery and dinnerware. It markets a line of dinnerware, Illuminia, for the first time in its history. Its dinnerware will most likely fall into which of the following new product categories?

Between the phases of the new products process, there are points when:

In a new product process, an evaluation task that includes conditional "Go" decisions is sometimes called a fuzzy gate.

Firms with a global innovation culture:

Describe the various categories of new products.

A firm's global presence is no guarantee that it will automatically know how to efficiently manage its global operations.

Discuss the terms "product innovation" and "process innovation."

New-to-the-firm products are:

Which of the following firms will have the most effective worldwide new product programs?

Which of the following categories of new products would present higher risks and uncertainties as well as associated costs of development and launch?

New products can be tangible goods or services.

Well-known business writer, Gary Hamel, has described _____ as "the most important business issue of our time."

Which of the following is true of new product categories?

Which of the following statements is true of the importance of new products?

Briefly explain the terms: new products process, product innovation charter, and product portfolio management.

The New Products Process

Opportunity Identification and Selection: Strategic Planning for New Products

The Product Concept and Ready-Made New Product Ideas

New Product Ideas: the Problem Find-Solve Approach

New Product Ideas: Analytical Attribute Approaches

Concept Evaluation and Testing

The Full Screen

Sales Forecasting and Financial Analysis

Product Protocol

Design

Development Team Management

Product Use Testing

Strategic Launch Planning

Implementation of the Strategic Plan

Market Testing

Launch Management

Public Policy Issues

Filters