Exam 8: New Products: Developing and Managing Innovation

Your firm added three new products earlier this year to increase variety for customers.Two of them failed to reach even minimal sales.Which of the following is LEAST likely to have been the cause of their failure?

(Multiple Choice)

4.8/5

(44)

Question 41

Which of the following is NOT a potential reason for a new product to fail?

(Multiple Choice)

4.8/5

(32)

Question 42

The business analysis stage represents the first large jump in financial investment in the new-product development process.

(True/False)

4.7/5

(33)

Question 43

A review of the sales,costs and profit projections for a new product to find out whether they satisfy the company's objectives is called a ________.

(Multiple Choice)

4.8/5

(38)

Question 44

A company getting ready to launch a new product must make several decisions.The company must first decide on ________.

(Multiple Choice)

4.9/5

(35)

Question 45

Sales for the time-tried household cleansers made by Brite and New,Inc.have been declining for some time.If these products are typical,sales are declining because of technological advances,shifts in consumer tastes and lack of raw materials from foreign suppliers.

(True/False)

4.8/5

(45)

Question 46

Ferntree Lawn and Garden Products is engaged in a review of the sales,costs and profit projections for some new products to find out whether they satisfy the company's objectives.This activity is called business product development.

(True/False)

4.9/5

(38)

Question 47

In order to get their new products to market more quickly,many companies are adopting a faster,team-oriented approach called ________.

(Multiple Choice)

4.8/5

(31)

Question 48

A firm can obtain new products in two ways: acquisition or new-product development.

(True/False)

4.9/5

(34)

Question 49

Briefly describe the steps in the new-product development process.

(Essay)

4.9/5

(42)

Question 50

Some companies pass the cost of liability litigation on to consumers by raising prices.

(True/False)

4.7/5

(34)

Question 51

A product ________ is an idea for a possible product that a company can see itself offering to the market.

(Short Answer)

4.9/5

(35)

Question 52

If a firm can afford to retain its declining product until major competitors withdraw from the market,it may enjoy several more years of satisfactory profits.

(True/False)

4.8/5

(36)

Question 53

Packaging may also need to be ________ to meet the physical characteristics of consumers in various parts of the world

(Short Answer)

4.8/5

(34)

Question 54

Companies need to pay attention to their aging products.Management should regularly review sales,market shares,costs and profit trends,and then decide whether to maintain,harvest or drop these declining products.

(True/False)

4.9/5

(33)

Question 55

Which of the following would lead to greater competition in the maturity stage of the PLC?

(Multiple Choice)

4.8/5

(37)

Question 56

Which of the following is NOT a recommended method for companies to tap into their customers as sources for new-product ideas?

(Multiple Choice)

4.9/5

(35)

Question 57

In the concept testing stage of new-product development,a product concept in ________ form is presented to groups of target consumers.

(Multiple Choice)

4.8/5

(29)

Question 58

A product ________ is a detailed version of an idea stated in meaningful consumer terms.

(Short Answer)

4.9/5

(40)

Question 59

Distinguish between a product idea,a product concept and a product image.

(Essay)

4.8/5

(31)

Question 60

Showing 41 - 60 of 172

Your firm added three new products earlier this year to increase variety for customers.Two of them failed to reach even minimal sales.Which of the following is LEAST likely to have been the cause of their failure?

Which of the following is NOT a potential reason for a new product to fail?

The business analysis stage represents the first large jump in financial investment in the new-product development process.

A review of the sales,costs and profit projections for a new product to find out whether they satisfy the company's objectives is called a ________.

A company getting ready to launch a new product must make several decisions.The company must first decide on ________.

Sales for the time-tried household cleansers made by Brite and New,Inc.have been declining for some time.If these products are typical,sales are declining because of technological advances,shifts in consumer tastes and lack of raw materials from foreign suppliers.

Ferntree Lawn and Garden Products is engaged in a review of the sales,costs and profit projections for some new products to find out whether they satisfy the company's objectives.This activity is called business product development.

In order to get their new products to market more quickly,many companies are adopting a faster,team-oriented approach called ________.

A firm can obtain new products in two ways: acquisition or new-product development.

Briefly describe the steps in the new-product development process.

Some companies pass the cost of liability litigation on to consumers by raising prices.

A product ________ is an idea for a possible product that a company can see itself offering to the market.

If a firm can afford to retain its declining product until major competitors withdraw from the market,it may enjoy several more years of satisfactory profits.

Packaging may also need to be ________ to meet the physical characteristics of consumers in various parts of the world

Companies need to pay attention to their aging products.Management should regularly review sales,market shares,costs and profit trends,and then decide whether to maintain,harvest or drop these declining products.

Which of the following would lead to greater competition in the maturity stage of the PLC?

Which of the following is NOT a recommended method for companies to tap into their customers as sources for new-product ideas?

In the concept testing stage of new-product development,a product concept in ________ form is presented to groups of target consumers.

A product ________ is a detailed version of an idea stated in meaningful consumer terms.

Distinguish between a product idea,a product concept and a product image.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Engagement, value and Relationships

The Marketplace and Customers: Analysing the Environment

Marketing Analytics: Gaining Customer Insights

Buyer Behaviour: Understanding Consumer and Business Buyers

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, services and Brands: Offering Customer Value

Pricing: Capturing Customer Value

Placement: Customer Value Fulfilment

Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion: Creating Value in Relationships

Direct and Digital Marketing: Interactivity and Fulfilment

Sustainable Marketing: Social Responsibility, ethics and Legal Compliance

Filters