Question 1

A ________ is the way consumers perceive an actual or potential product.

Accepted Answer

A) product idea 
B) product concept 
C) product image 
D) test market 
E) concept test 
A) product idea 
B) product concept 
C) product image 
D) test market 
E) concept test

Question 2

The team-based new-product development approach is faster because departments work closely together through ________.

Accepted Answer

A) sequential efforts 
B) a step-by-step process 
C) the help of a consultant 
D) cross-functional teams 
E) departmentalisation 
A) sequential efforts 
B) a step-by-step process 
C) the help of a consultant 
D) cross-functional teams 
E) departmentalisation

Question 3

Companies rarely solicit ideas from customers during the idea generation stage of product development.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following statements best explains why idea screening may be the most import step of new product development?

Accepted Answer

A) It increases the number of ideas generated. 
B) Some potentially profitable ideas may be ill perceived by the idea screeners. 
C) Some ideas that will become market disasters may be originally viewed favourably by the idea screeners. 
D) It gives research and development team members an opportunity to gather consumer feedback. 
E) It saves the company money in product development costs by giving the green light to only the product ideas that are likely to be profitable. 
A) It increases the number of ideas generated. 
B) Some potentially profitable ideas may be ill perceived by the idea screeners. 
C) Some ideas that will become market disasters may be originally viewed favourably by the idea screeners. 
D) It gives research and development team members an opportunity to gather consumer feedback. 
E) It saves the company money in product development costs by giving the green light to only the product ideas that are likely to be profitable.

Question 5

Market modification involves the search for new users and market segments and / or the attempt to increase usage among present customers.

Accepted Answer

A) True 
 B)False

Question 6

When a product reaches the decline phase of its life-cycle,death is inevitable and the product should be automatically dropped.

Accepted Answer

A) True 
 B)False

Question 7

A large regional chain of candy stores transfers employees from marketing,design,production and finance to work in a cross-functional group to save time and money in the new-product development process.It is using a(n)________ approach.

Accepted Answer

A) customer-centred new-product development 
B) sequential new-product development 
C) team-based new-product development 
D) innovation management system 
E) consumer composite 
A) customer-centred new-product development 
B) sequential new-product development 
C) team-based new-product development 
D) innovation management system 
E) consumer composite

Question 8

Sequential product development has the advantage of not only being a team-oriented approach,but also of being faster in bringing products to market.

Accepted Answer

A) True 
 B)False

Question 9

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

Accepted Answer

A) product development 
B) introduction 
C) growth 
D) maturity 
E) adoption 
A) product development 
B) introduction 
C) growth 
D) maturity 
E) adoption

Question 10

Carrying a weak product during the decline stage of the PLC can be very costly to a firm,and not just in profit terms.Which one of these is NOT likely to be one of those costs?

Accepted Answer

A) takes up much of management's time 
B) frequent price and inventory adjustment 
C) requires advertising and salesforce attention 
D) few customer concerns about company image 
E) requires additional financial analysis 
A) takes up much of management's time 
B) frequent price and inventory adjustment 
C) requires advertising and salesforce attention 
D) few customer concerns about company image 
E) requires additional financial analysis

Question 11

A manufacturer with a product in the decline stage of the product life-cycle might decide to ________ if it has major customers that buy the product in conjunction with their other products.

Accepted Answer

A) harvest the product 
B) maintain the product without change 
C) drop the product 
D) search for replacements 
E) delay planning 
A) harvest the product 
B) maintain the product without change 
C) drop the product 
D) search for replacements 
E) delay planning

Question 12

Although products that remain in the maturity stage of the PLC seem unchanged,the most successful ones actually evolve to meet changing consumer needs.

Accepted Answer

A) True 
 B)False

A ________ is the way consumers perceive an actual or potential product.

The team-based new-product development approach is faster because departments work closely together through ________.

Companies rarely solicit ideas from customers during the idea generation stage of product development.

Which of the following statements best explains why idea screening may be the most import step of new product development?

Market modification involves the search for new users and market segments and / or the attempt to increase usage among present customers.

When a product reaches the decline phase of its life-cycle,death is inevitable and the product should be automatically dropped.

A large regional chain of candy stores transfers employees from marketing,design,production and finance to work in a cross-functional group to save time and money in the new-product development process.It is using a(n)________ approach.

Sequential product development has the advantage of not only being a team-oriented approach,but also of being faster in bringing products to market.

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

Carrying a weak product during the decline stage of the PLC can be very costly to a firm,and not just in profit terms.Which one of these is NOT likely to be one of those costs?

A manufacturer with a product in the decline stage of the product life-cycle might decide to ________ if it has major customers that buy the product in conjunction with their other products.

Although products that remain in the maturity stage of the PLC seem unchanged,the most successful ones actually evolve to meet changing consumer needs.

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

Exam 8: New Products: Developing and Managing Innovation

A ________ is the way consumers perceive an actual or potential product.

The team-based new-product development approach is faster because departments work closely together through ________.

Companies rarely solicit ideas from customers during the idea generation stage of product development.

Which of the following statements best explains why idea screening may be the most import step of new product development?

Market modification involves the search for new users and market segments and / or the attempt to increase usage among present customers.

When a product reaches the decline phase of its life-cycle,death is inevitable and the product should be automatically dropped.

A large regional chain of candy stores transfers employees from marketing,design,production and finance to work in a cross-functional group to save time and money in the new-product development process.It is using a(n)________ approach.

Sequential product development has the advantage of not only being a team-oriented approach,but also of being faster in bringing products to market.

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

Carrying a weak product during the decline stage of the PLC can be very costly to a firm,and not just in profit terms.Which one of these is NOT likely to be one of those costs?

A manufacturer with a product in the decline stage of the product life-cycle might decide to ________ if it has major customers that buy the product in conjunction with their other products.

Although products that remain in the maturity stage of the PLC seem unchanged,the most successful ones actually evolve to meet changing consumer needs.

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