Question 1

The number one reason for new product success is a unique superior product.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is a reason for product failure in a firm?

Accepted Answer

A)  Resorting to radical innovation with the new products process 
B)  Avoiding the use of the ready-fire-aim approach in the product development process 
C)  Chasing a moving target 
D)  Paying too much attention to customer needs 
A)  Resorting to radical innovation with the new products process 
B)  Avoiding the use of the ready-fire-aim approach in the product development process 
C)  Chasing a moving target 
D)  Paying too much attention to customer needs

Question 3

Products that are inventions and create a whole new market are called:

Accepted Answer

A)  new-to-the-world products. 
B)  new-to-the-firm products. 
C)  "flanker" brands. 
D)  improvised products. 
A)  new-to-the-world products. 
B)  new-to-the-firm products. 
C)  "flanker" brands. 
D)  improvised products.

Question 4

Ace Corporation is a manufacturer of powder and liquid dishwashing detergents. Owing to popular demand, the company introduces a single-load, scented, gel detergent encased in water-soluble bags designed to fit dishwasher detergent trays. The firm's new product is best described as a(n):

Accepted Answer

A)  new-to-the-world product. 
B)  line extension. 
C)  repositioned product. 
D)  improvised product. 
A)  new-to-the-world product. 
B)  line extension. 
C)  repositioned product. 
D)  improvised product.

Question 5

An ideal new products team is essentially self-directed with limited or no cross-functionality.

Accepted Answer

A) True 
 B)False

Question 6

Radical innovation that displaces or obsoletes current products and creates totally new product categories is critical to the future growth and survival of a firm.

Accepted Answer

A) True 
 B)False

Question 7

The job of a _____ in the field of new product management is to help project managers develop and use good new product processes.

Accepted Answer

A)  team executive 
B)  process manager 
C)  functional representative 
D)  technical specialist 
A)  team executive 
B)  process manager 
C)  functional representative 
D)  technical specialist

Question 8

Which of the following is the least innovative among the given set of new product categories?

Accepted Answer

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

Question 9

Which of the following is considered to be the least innovative among the categories of new products?

Accepted Answer

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

Question 10

With reference to the new products process, a firm adopts the ready-fire-aim approach when it:

Accepted Answer

A)  lacks senior management support. 
B)  does not pay enough attention to quality. 
C)  chases a moving target. 
D)  does not do the required homework before beginning development. 
A)  lacks senior management support. 
B)  does not pay enough attention to quality. 
C)  chases a moving target. 
D)  does not do the required homework before beginning development.

Question 11

By definition, new products are limited to significant technological innovations.

Accepted Answer

A) True 
 B)False

Question 12

_____ helps a firm assess which new products would be the best additions to existing product lines, given both financial and strategic objectives.

Accepted Answer

A)  A product finances charter 
B)  Product portfolio management 
C)  A product assessment matrix 
D)  Product value-add assessment 
A)  A product finances charter 
B)  Product portfolio management 
C)  A product assessment matrix 
D)  Product value-add assessment

Question 13

The term "product innovation" usually applies to functions, especially those of manufacturing or distribution.

Accepted Answer

A) True 
 B)False

Question 14

Rules of thumb that firms have found that work for them can be referred to as:

Accepted Answer

A)  heuristics. 
B)  syntaxes. 
C)  synergies. 
D)  charters. 
A)  heuristics. 
B)  syntaxes. 
C)  synergies. 
D)  charters.

Question 15

Business firms expect, and get, a high percentage of their sales and profits from new products.

Accepted Answer

A) True 
 B)False

The number one reason for new product success is a unique superior product.

Which of the following is a reason for product failure in a firm?

Products that are inventions and create a whole new market are called:

Ace Corporation is a manufacturer of powder and liquid dishwashing detergents. Owing to popular demand, the company introduces a single-load, scented, gel detergent encased in water-soluble bags designed to fit dishwasher detergent trays. The firm's new product is best described as a(n):

An ideal new products team is essentially self-directed with limited or no cross-functionality.

Radical innovation that displaces or obsoletes current products and creates totally new product categories is critical to the future growth and survival of a firm.

The job of a _____ in the field of new product management is to help project managers develop and use good new product processes.

Which of the following is the least innovative among the given set of new product categories?

Which of the following is considered to be the least innovative among the categories of new products?

With reference to the new products process, a firm adopts the ready-fire-aim approach when it:

By definition, new products are limited to significant technological innovations.

_____ helps a firm assess which new products would be the best additions to existing product lines, given both financial and strategic objectives.

The term "product innovation" usually applies to functions, especially those of manufacturing or distribution.

Rules of thumb that firms have found that work for them can be referred to as:

Business firms expect, and get, a high percentage of their sales and profits from new products.

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

The number one reason for new product success is a unique superior product.

Which of the following is a reason for product failure in a firm?

Products that are inventions and create a whole new market are called:

Ace Corporation is a manufacturer of powder and liquid dishwashing detergents. Owing to popular demand, the company introduces a single-load, scented, gel detergent encased in water-soluble bags designed to fit dishwasher detergent trays. The firm's new product is best described as a(n):

An ideal new products team is essentially self-directed with limited or no cross-functionality.

Radical innovation that displaces or obsoletes current products and creates totally new product categories is critical to the future growth and survival of a firm.

The job of a _____ in the field of new product management is to help project managers develop and use good new product processes.

Which of the following is the least innovative among the given set of new product categories?

Which of the following is considered to be the least innovative among the categories of new products?

With reference to the new products process, a firm adopts the ready-fire-aim approach when it:

By definition, new products are limited to significant technological innovations.

_____ helps a firm assess which new products would be the best additions to existing product lines, given both financial and strategic objectives.

The term "product innovation" usually applies to functions, especially those of manufacturing or distribution.

Rules of thumb that firms have found that work for them can be referred to as:

Business firms expect, and get, a high percentage of their sales and profits from new products.

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