Exam 12: Developing New Products

Many car manufacturers have developed prototypes of alternative energy vehicles like hydrogen-fueled cars. When developing their marketing strategies, how can these firms use the diffusion of innovation curve in the early stages of product development?

Companies that develop customized business software often work closely with their users when installing their products. This close contact often creates new product ideas through

To determine if a new product is commercially viable, a firm can conduct premarket testing.

The most challenging part of applying the product life cycle concept is that managers do not know exactly what shape each product's life cycle will take.

All of the following are reasons for the high failure rate of new products except

Carmen is ready to launch her company's new product, a line of chocolate for diabetics, based on her instincts and knowledge from 30 years of marketing. Her staff is encouraging her to delay the launch until test marketing can be done. What are the advantages and disadvantages of each approach?

When a product is successful in the introductory stage of the product life cycle,

All of the following are characteristics of products in the maturity stage of the product life cycle except

Jennifer has just taken over a line of organic teas for her company. She looks at the company records and sees sales have peaked, profit margins are declining, and there are many new competitors in that category. Which stage of the product life cycle are her teas in?

One reason auto companies spend millions on racing cars is that they offer the opportunity to test new designs and technology under extreme conditions. Using the cars in a real-use setting provides an opportunity for ________ the product.