Exam 8: New Products: Developing and Managing Innovation

Which of the following is most likely to be included in an executive's write up of a new-product idea to be presented to a new-product committee?

A potential marketer of new Teflon coated shower enclosures asks consumers,'Do you understand how the addition of Teflon will benefit you?' and 'Would this type of shower closure solve a cleaning problem for you?' This marketer is in the ________ stage of new-product development.

What are the two ways that a company can obtain new products?

According to your text,which of the following is perhaps the most important external source of new-product ideas?

________ calls for testing new-product concepts with groups of target consumers.

A product which falls in and out of favour with customers quickly is called a ________.

The team-based new-product development approach uses cross-functional teams that overlap the steps in the process to achieve which of the following goals?

When a product enters the maturity stage,the company should consider ________.

An international marketer will NOT need to tailor a product's packaging to meet the physical characteristics of consumers in various parts of the world.

________ are temporary periods of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity.

The purpose of idea generation is to create a ________ of ideas.The purpose of succeeding stages is to ________ that number.

A(n)________ is a currently accepted or popular style in a given field and is characterised by a product life-cycle showing slow growth,a period of popularity and then a slow decline.

By some estimate,60 per cent of all new products launched by established companies fail.

Under what circumstances might it be wise for a company to do little or no test marketing?

Which stage of the new-product development process focuses on finding new ways to solve customer problems and to create more customer-satisfying experiences?

When a company decides to maintain a product in the decline stage,it will reduce costs and hope that sales hold up to increase the profits in the short run.

A manufacturer with a product in the decline stage of the product life-cycle might decide to ________ if it has reason to hope that competitors will leave the industry.

Ferntree Lawn and Garden Products is engaged in marketing strategy development.Management should first create a statement outlining the product's planned price,distribution and marketing budget for the first year.

In the growth stage of the product life-cycle,the firm faces a trade-off between high ________ ________ and high ________ ________.

The creation of a successful new product depends on a company's understanding of its ________ and its ability to deliver ________ to customers.