Exam 6: Product Development

A risk associated with product-line extensions is that the new product may take away from sales of existing products in the product line. This is referred to as

There are four classifications of products: new-to-the-market products, new-category entries, product line extensions, and ________ products.

An experience is a product with characteristics that are difficult to observe in advance, but that are realized after consumption.

How long can a company advertise a product as "new and improved" after it hits store shelves?

Every stage of the NPD process must be followed for the process to work correctly.

During which stage of the product life cycle does a company have to promote the differences between its brand and that of the competition, and attempt to portray its competitive advantage?

A company that uses social media, especially online communities, to generate product ideas is using design thinking.

In marketing terms, the care you receive when you visit the local car wash to get your car washed and vacuumed is an example of

Which sequence accurately represents the steps in the consumer adoption process?

Chevrolet produces the Cruze, Impala, and the Malibu. As a group, these cars represent a

Less-expensive forms of test marketing include simulated test markets and online test marketing.

A firm's product ________ comprises all of the products that it sells.

A local technology firm is developing a new travel app that identifies antique shops and art galleries in the cities that you plan to visit. How can this tech firm reduce the risks involved in developing this new travel app?

The process of getting ideas by asking for input from a large group of people, especially online communities, rather than getting them from employees is referred to as ________.

A company can advertise a product as new and improved for only one year after it hits store shelves.

If a company is using coupons or buy-one-get-one-free promotions to reduce the existing inventory of a product, that product is most likely in what stage of the product life cycle?

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 referred to as

The most common ethical issue in new-product development involves the Federal Trade Commission's definition of the term ________.

Product-mix ________ pertains to how closely related product lines are to one another-in terms of use, production, and distribution.

Which stage of the new-product development process is usually the most expensive for new products?