Exam 12: Developing and Managing Products

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called

The product development stage determines the technical feasibility of producing the new product.

New-product development does not include planning for advertising.

Breakeven analysis is a tool that marketers are likely to employ during the ____ stage of the new-product development process.

Discuss the advantages and problems associated with test marketing.

The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.

Bauman Flooring found a supplier of very inexpensive fibers that could be used to produce low-grade carpeting at a very low cost. Because Bauman had been facing stiff competition in the medium-grade carpet industry, it started using the new material in all of its carpeting and reducing its prices. This is an example of a(n)

A runout approach to product deletion lets the product decline without changing the marketing strategy.

A suggested approach to deleting products, in which each product is evaluated periodically to determine its impact on the overall effectiveness of the firm's product mix, is called a(n)

Karla tells Jeff that she likes his team's idea about a new three-lace running shoe but wants him to put together some figures regarding anticipated sales, costs, and resulting profits. She is asking Jeff to proceed to which stage of the new-product development process?

Discuss the major approaches that marketers use to differentiate their products.

The phase of the new-product development process when the organization determines the technological feasibility of producing the product at a cost that results in a reasonable selling price is

The phase-out approach to product deletion exploits any strengths left in the product.

Functional modifications usually require that the product be

Outback Steakhouse wants to expand its line of food products. The managers sent surveys to customers to determine which food items would appeal to them. Outback is currently in the ____ phase of new-product development.

Marketers at Starbucks have generated several ideas for new food products. Management has assessed whether these ideas are consistent with Starbucks' objectives and resources. Several product ideas were dropped after this analysis. The next stage of development for the remaining product ideas is

In product modification, the first issue to consider is whether

Estimates of sales are an important component of business analysis.

The concept of product quality is the same from consumer to consumer and from consumer markets to organizational markets.

Product managers are most useful in the development of new products.