Exam 13: Conceiving, Developing, and Managing Products

A firm trying to speed up the development and commercialization of new products should consider developing new products internally.

Describe each of these product life-cycle patterns and their implications for a marketer: boom (classic), extended fad, and seasonal (fashion).

During the early stages of commercialization, a firm's promotional efforts should stress

Which of these is an example of a laboratory-oriented source of new-product ideas?

The beginning of the maturity stage of the product life cycle is characterized by the highest industry profits.

Develop a ten-item concept test for a cloth impregnated with a wax applicator for use in polishing automobiles. The cloth enables a car owner to dust and wax one's car at the same time. The cloth can be used up to five times (depending on the size of the car and the degree of dirt on the car's finish). The cloth should retail at $10.

While firms require systematic new-product planning strategies, they also need a comprehensive product deletion strategy that specifies the criteria for deletion, a timetable, and a budget.

The test marketing stage requires a larger investment than any other new-product planning process stage.

The major distinction between a minor innovation and a major innovation is on the basis of

The Following Questions are linked to this scenario: A car wax company developed a new car wax that is particularly resistant to acid rain. The pollutants in acid rain can cause significant damage to a car's finish. -The car wax manufacturer conducted new-product research that determined that many car owners were either unaware of the dangers of acid rain, or did not believe the claims made. The technique used to obtain this conclusion is

Which of the following is NOT a major reason for the importance of new products to a company?

The new-product planning process involves a series of steps from

Which of these is NOT generally regarded as a major cause of either absolute or relative product failure?

a. Describe five appropriate objectives for test marketing a proposed new color fax machine that can be used to fax photographs, page proofs, advertisements, etc. b. What factors would have an impact on the length of test marketing for the color fax machine maker? Explain your answer.

Although major innovations are generally more risky to a firm, they generally have higher potential profitability than minor innovations.

Evaluation of a new product's patentability is first performed in which stage of the new-product planning process?

In which stage of the new-product planning process is brainstorming used?

A company generates ideas, evaluates them, weeds out poor ones, gets consumer feedback, devises the product, tests it, and brings it to the market in

A firm could earn a profit yet still characterize a product as an absolute product failure.

Which statement concerning product modifications is NOT correct?