Question 1

Which statement reflects a way that companies can reduce the risk of new-product failure?

Accepted Answer

A) realize that failure is not an option 
B) understand current market trends to anticipate demand 
C) know that it is impossible to anticipate changes in the market 
D) skip steps in the development process to market a product sooner 
E) focus on the needs of the firm more than the needs of the customer 
A) realize that failure is not an option 
B) understand current market trends to anticipate demand 
C) know that it is impossible to anticipate changes in the market 
D) skip steps in the development process to market a product sooner 
E) focus on the needs of the firm more than the needs of the customer

Question 2

A company's time to ________ is the speed with which it launches a product.

Accepted Answer

The answer of A company's time to ________ is the...

Question 3

The group of adopters that make up the smallest percentage of product adopters is the laggard group.

Accepted Answer

A) True 
 B)False

Question 4

While the idea generation stage of the new-product development process generates a great number of potential ideas, in reality, very few of these ideas ever become marketed products.

Accepted Answer

A) True 
 B)False

Question 5

L'Oréal sells cosmetics, hair care products, skin care products and other consumer and professional products. The combination of all the products that L'Oréal sells is referred to as its

Accepted Answer

A) name brand. 
B) product mix. 
C) category line. 
D) product line. 
E) marketing mix. 
A) name brand. 
B) product mix. 
C) category line. 
D) product line. 
E) marketing mix.

Question 6

The process by which new products are likely to be adopted, the rate at which they will be adopted, and the process through which the products will spread into markets is called ________.

Accepted Answer

The answer of The process by which new products are...

Question 7

What considerations could a company implement if it is looking to design a product that is sustainable?

Accepted Answer

Sustainable product development is built

Question 8

It is during the idea generation stage of the new-product development process that the company often ends up rejecting most new goods and services for one reason or another.

Accepted Answer

A) True 
 B)False

Question 9

A local ice cream shop has introduced a new signature treat that none of its competitors presently offer. Based on the tenets of the product life cycle, what pricing strategies should this business use for this new treat through the various stages of the PLC?

Accepted Answer

In the introductory stage of the product

Question 10

In a ________ test, marketing professionals ask consumers for their reactions to verbal descriptions and rough visual models of a potential product.

Accepted Answer

The answer of In a ________ test, marketing professionals ask...

Question 11

The practice in which companies frequently come out with new models of a product that make existing models obsolete is an ethical issue related to new-product development and is termed

Accepted Answer

A) diffusion. 
B) bait-and-switch. 
C) time to market. 
D) planned obsolescence. 
E) diversion. 
A) diffusion. 
B) bait-and-switch. 
C) time to market. 
D) planned obsolescence. 
E) diversion.

Question 12

Among other things, the first stage in the new-product strategy development process helps to determine if the idea can be turned into a product that will prove to be profitable.

Accepted Answer

A) True 
 B)False

Question 13

FCA automobiles offers Chrysler, Fiat, Dodge, and Jeep as product brand categories. The extent to which a company offers different product categories and brands refers to its

Accepted Answer

A) product line. 
B) product-mix consistency. 
C) product depth. 
D) product width. 
A) product line. 
B) product-mix consistency. 
C) product depth. 
D) product width.

Question 14

The stages in the product life cycle are new-product development, introduction, growth, maturity, and

Accepted Answer

A) decline. 
B) obsolescence. 
C) stability. 
D) failure. 
E) rejuvenation. 
A) decline. 
B) obsolescence. 
C) stability. 
D) failure. 
E) rejuvenation.

Question 15

Consumers that purchase and use a product soon after it has been introduced, but only after product reviews on the item have been reviewed, are known as ________ ________.

Accepted Answer

The answer of Consumers that purchase and use a product...

Question 16

A company that is introducing a new product in its final form to a geographically limited market to see how well the product sells and to get reactions from potential users is engaged in

Accepted Answer

A) concept testing. 
B) test marketing. 
C) idea screening. 
D) product screening. 
E) concept marketing. 
A) concept testing. 
B) test marketing. 
C) idea screening. 
D) product screening. 
E) concept marketing.

Question 17

A product that uses less energy to operate or can be recycled when the consumer is finished using it, it said to have

Accepted Answer

A) a green design. 
B) a sustainable design. 
C) an organic design. 
D) an ethical design. 
E) an environmental design. 
A) a green design. 
B) a sustainable design. 
C) an organic design. 
D) an ethical design. 
E) an environmental design.

Question 18

During which stage of the product life cycle do customer service and repairs begin to take on significance as a way to differentiate a firm's products?

Accepted Answer

A) growth 
B) maturity 
C) introduction 
D) decline 
A) growth 
B) maturity 
C) introduction 
D) decline

Question 19

A ________ ________ entails identifying at what price the product will likely be sold, estimating costs, and estimating demand for the product.

Accepted Answer

The answer of A ________ ________ entails identifying at what...

Question 20

A firm is thinking about adding a product to its product line. What is the most likely outcome if the firm goes through with this plan?

Accepted Answer

A) It will be difficult to manufacture the product. 
B) The company will have to work hard to build up the brand. 
C) The new product is certain to be accepted by the market. 
D) The new product can be advertised alongside existing products. 
E) It will take a long time for customers to feel loyal to the product. 
A) It will be difficult to manufacture the product. 
B) The company will have to work hard to build up the brand. 
C) The new product is certain to be accepted by the market. 
D) The new product can be advertised alongside existing products. 
E) It will take a long time for customers to feel loyal to the product.

Which statement reflects a way that companies can reduce the risk of new-product failure?

A company's time to ________ is the speed with which it launches a product.

The group of adopters that make up the smallest percentage of product adopters is the laggard group.

While the idea generation stage of the new-product development process generates a great number of potential ideas, in reality, very few of these ideas ever become marketed products.

L'Oréal sells cosmetics, hair care products, skin care products and other consumer and professional products. The combination of all the products that L'Oréal sells is referred to as its

The process by which new products are likely to be adopted, the rate at which they will be adopted, and the process through which the products will spread into markets is called ________.

What considerations could a company implement if it is looking to design a product that is sustainable?

It is during the idea generation stage of the new-product development process that the company often ends up rejecting most new goods and services for one reason or another.

A local ice cream shop has introduced a new signature treat that none of its competitors presently offer. Based on the tenets of the product life cycle, what pricing strategies should this business use for this new treat through the various stages of the PLC?

In a ________ test, marketing professionals ask consumers for their reactions to verbal descriptions and rough visual models of a potential product.

The practice in which companies frequently come out with new models of a product that make existing models obsolete is an ethical issue related to new-product development and is termed

Among other things, the first stage in the new-product strategy development process helps to determine if the idea can be turned into a product that will prove to be profitable.

FCA automobiles offers Chrysler, Fiat, Dodge, and Jeep as product brand categories. The extent to which a company offers different product categories and brands refers to its

The stages in the product life cycle are new-product development, introduction, growth, maturity, and

Consumers that purchase and use a product soon after it has been introduced, but only after product reviews on the item have been reviewed, are known as .

A company that is introducing a new product in its final form to a geographically limited market to see how well the product sells and to get reactions from potential users is engaged in

A product that uses less energy to operate or can be recycled when the consumer is finished using it, it said to have

During which stage of the product life cycle do customer service and repairs begin to take on significance as a way to differentiate a firm's products?

A entails identifying at what price the product will likely be sold, estimating costs, and estimating demand for the product.

A firm is thinking about adding a product to its product line. What is the most likely outcome if the firm goes through with this plan?

Why Marketing Matters to You

Strategic Planning

The Global Environment

Consumer Behavior

Marketing Research

Segmentation, Targeting, and Positioning

Promotional Strategies

Personal Selling

Supply Chain and Logistics Management

Pricing

Retailing

Digital and Social Media Marketing

Branding

Customer Relationship Management

Social Responsibility and Sustainability

Filters

Exam 6: Product Development

Which statement reflects a way that companies can reduce the risk of new-product failure?

A company's time to ________ is the speed with which it launches a product.

The group of adopters that make up the smallest percentage of product adopters is the laggard group.

While the idea generation stage of the new-product development process generates a great number of potential ideas, in reality, very few of these ideas ever become marketed products.

L'Oréal sells cosmetics, hair care products, skin care products and other consumer and professional products. The combination of all the products that L'Oréal sells is referred to as its

The process by which new products are likely to be adopted, the rate at which they will be adopted, and the process through which the products will spread into markets is called ________.

What considerations could a company implement if it is looking to design a product that is sustainable?

It is during the idea generation stage of the new-product development process that the company often ends up rejecting most new goods and services for one reason or another.

A local ice cream shop has introduced a new signature treat that none of its competitors presently offer. Based on the tenets of the product life cycle, what pricing strategies should this business use for this new treat through the various stages of the PLC?

In a ________ test, marketing professionals ask consumers for their reactions to verbal descriptions and rough visual models of a potential product.

The practice in which companies frequently come out with new models of a product that make existing models obsolete is an ethical issue related to new-product development and is termed

Among other things, the first stage in the new-product strategy development process helps to determine if the idea can be turned into a product that will prove to be profitable.

FCA automobiles offers Chrysler, Fiat, Dodge, and Jeep as product brand categories. The extent to which a company offers different product categories and brands refers to its

The stages in the product life cycle are new-product development, introduction, growth, maturity, and

Consumers that purchase and use a product soon after it has been introduced, but only after product reviews on the item have been reviewed, are known as ________ ________.

A company that is introducing a new product in its final form to a geographically limited market to see how well the product sells and to get reactions from potential users is engaged in

A product that uses less energy to operate or can be recycled when the consumer is finished using it, it said to have

During which stage of the product life cycle do customer service and repairs begin to take on significance as a way to differentiate a firm's products?

A ________ ________ entails identifying at what price the product will likely be sold, estimating costs, and estimating demand for the product.

A firm is thinking about adding a product to its product line. What is the most likely outcome if the firm goes through with this plan?

Why Marketing Matters to You

Strategic Planning

The Global Environment

Consumer Behavior

Marketing Research

Segmentation, Targeting, and Positioning

Promotional Strategies

Personal Selling

Supply Chain and Logistics Management

Pricing

Retailing

Digital and Social Media Marketing

Branding

Customer Relationship Management

Social Responsibility and Sustainability

Filters

Consumers that purchase and use a product soon after it has been introduced, but only after product reviews on the item have been reviewed, are known as .

A entails identifying at what price the product will likely be sold, estimating costs, and estimating demand for the product.