Exam 6: Product Development

Which stage of the product life cycle is characterized by low or negative profits and the possible need of companies to offer incentives to stores to get them to carry the product?

Due to the high cost of developing, advertising, manufacturing, and distributing a new product, profits are often low in the ________ stage of the product life cycle.

People who are similar to one another usually have many of the same needs, likes, and dislikes, and this similarity helps products to be adopted more readily. This refers to which characteristic regarding product adoption?

The extent to which a country is connected to other cultures is referred to as

The ________ ________ stage of the new-product development process is usually the most expensive stage for new products.

A product labeled "new and improved" would fall within the category of a

In which stage of the product life cycle is there an increase in promotion to resellers to entice them to continue to buy the company's product rather than a competitor's?

The superior position a product enjoys over competing products if consumers believe it has more value than other products in its class is referred to as ________ ________.

The first step to idea generation using the design thinking process is to

The consumer adoption process consists of five steps that begins with _________ and ends with _________.

The procedure in which marketing professionals ask consumers for their reactions to verbal descriptions and rough visual models of a potential product is called

As firms introduce new products at a faster rate, what tends to happen to existing products in the product mix?

Which group would be considered an internal source of idea generation?

Which is not a key question that should be asked in the idea screening stage?

What is the name of the process that encourages organizations to focus on the people they're creating products for?

Your company manufactures video games. How could it utilize cloudsourcing to come up with new product ideas?

In what stage of the new-product development process would a company make a prototype of the product?

Beena cannot wait to be the first of her friends to purchase the latest technology. She immediately purchased an iPhone, an e-reader, and a Blu-Ray disc player as soon as they hit the market. Beena would most likely be the type of adopter known as a(n)_________.

Electronics companies often come out with new products that require new chargers. The companies' old chargers are then hard to find and buy. This is making older products become obsolete due to replacement charger issues. This is an ethical issue called

Services are intangible products that cannot be touched, weighed, or measured.