Question 1

Which of the following statements is true of the idea generation stage in the new product development process?

Accepted Answer

A)  The purpose of idea generation is to reduce the number of ideas to the least possible number. 
B)  Truly innovative companies rely exclusively on a single source for new product ideas. 
C)  Customers are the least important sources of new product ideas. 
D)  Truly innovative companies develop extensive innovation networks that capture ideas and inspiration from every possible source. 
E)  Truly innovative companies seldom rely on customers and the general public for ideas. 
A)  The purpose of idea generation is to reduce the number of ideas to the least possible number. 
B)  Truly innovative companies rely exclusively on a single source for new product ideas. 
C)  Customers are the least important sources of new product ideas. 
D)  Truly innovative companies develop extensive innovation networks that capture ideas and inspiration from every possible source. 
E)  Truly innovative companies seldom rely on customers and the general public for ideas. D

Question 2

Which of the following is the goal of the team-based new product development approach when it uses cross-functional teams that overlap the steps in the process?

Accepted Answer

A)  gain a big competitive edge by getting the right new products to market 
B)  save time and increase effectiveness 
C)  increase production efficiency and customer satisfaction 
D)  speed product distribution to market and reduce costs 
E)  reduce organizational tension and confusion 
A)  gain a big competitive edge by getting the right new products to market 
B)  save time and increase effectiveness 
C)  increase production efficiency and customer satisfaction 
D)  speed product distribution to market and reduce costs 
E)  reduce organizational tension and confusion B

Question 3

Which of the following statements characterizes the introduction stage of the PLC?

Accepted Answer

A)  There are increased marketing outlays. 
B)  Profits are nonexistent. 
C)  The company incurs minimal expenses. 
D)  The product achieves acceptance by most potential buyers. 
E)  Promotional expenditures are zero. 
A)  There are increased marketing outlays. 
B)  Profits are nonexistent. 
C)  The company incurs minimal expenses. 
D)  The product achieves acceptance by most potential buyers. 
E)  Promotional expenditures are zero. B

Question 4

At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance work in cross-functional groups to save time and money in the new product development process. Fantastic Flavors uses a ________ approach.

Accepted Answer

A)  customer-centered new product development 
B)  sequential product development 
C)  team-based new product development 
D)  heuristic 
E)  functional 
A)  customer-centered new product development 
B)  sequential product development 
C)  team-based new product development 
D)  heuristic 
E)  functional

Question 5

Why are competitors considered a good external idea source?

Accepted Answer

Marketers can pay particular attention t

Question 6

JoAnn Fabrics Inc. has created a new combination of colors and fabric types. The firm wants to know how consumers will perceive the new product. The firm is concerned with the product ________.

Accepted Answer

A)  idea 
B)  displacement 
C)  image 
D)  activation 
E)  placement 
A)  idea 
B)  displacement 
C)  image 
D)  activation 
E)  placement

Question 7

Over the past few years, Binney and Smith's Crayola crayons has expanded to more than 80 countries around the world. Crayola crayons are in the ________ stage of the PLC.

Accepted Answer

A)  introduction 
B)  laggard 
C)  maturity 
D)  decline 
E)  incubation 
A)  introduction 
B)  laggard 
C)  maturity 
D)  decline 
E)  incubation

Question 8

Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new product development process.

Accepted Answer

A)  business transformation 
B)  test marketing 
C)  business analysis 
D)  business process reengineering 
E)  concept testing 
A)  business transformation 
B)  test marketing 
C)  business analysis 
D)  business process reengineering 
E)  concept testing

Question 9

A product idea is ________.

Accepted Answer

A)  the way consumers perceive an actual or potential product 
B)  the knowledge and awareness of a product among consumers 
C)  a possible product that the company can see itself offering to the market 
D)  a detailed version of the new product idea stated in meaningful consumer terms 
E)  the testing of new product concepts with groups of target consumers 
A)  the way consumers perceive an actual or potential product 
B)  the knowledge and awareness of a product among consumers 
C)  a possible product that the company can see itself offering to the market 
D)  a detailed version of the new product idea stated in meaningful consumer terms 
E)  the testing of new product concepts with groups of target consumers

Question 10

What causes a specific brand's life cycle to change quickly?

Accepted Answer

A)  costs of raw materials 
B)  changing demographics 
C)  shift in company strategy 
D)  competitive attacks and responses 
E)  new technology 
A)  costs of raw materials 
B)  changing demographics 
C)  shift in company strategy 
D)  competitive attacks and responses 
E)  new technology

Question 11

Each product will have a life cycle, although its exact shape and length is not known in advance. Briefly explain each phase of the product life cycle.

Accepted Answer

-Product development begins when the com

Question 12

Due to dropping sales, a company that manufactures soaps begins to sell them to restaurants and hotels to extend their product's life. The soap manufacturer is in the ________ stage of PLC.

Accepted Answer

A)  introduction 
B)  growth 
C)  maturity 
D)  decline 
E)  development 
A)  introduction 
B)  growth 
C)  maturity 
D)  decline 
E)  development

Question 13

At which stage in the PLC do profits increase as promotion costs are spread over a large volume, and as the firm enters new market segments?

Accepted Answer

A)  maturity 
B)  introduction 
C)  decline 
D)  growth 
E)  harvest 
A)  maturity 
B)  introduction 
C)  decline 
D)  growth 
E)  harvest

Question 14

To avoid too few new product ideas and the failure of many good ideas, management should implement an innovation management system that collects, reviews, evaluates, and manages new product ideas.

Accepted Answer

A) True 
 B)False

Question 15

Explain why the PLC can be applied to more than just brands.

Accepted Answer

The PLC can be applied to new products a

Question 16

The potential sales, costs, and profit projections are being determined for a new product idea at Art for Kids. Which of the following stages of the new product development process does this illustrate?

Accepted Answer

The projections for potential

Question 17

Which of the following stages of the new product development process occurs immediately after the completion of the business analysis for the product or service?

Accepted Answer

A)  idea screening 
B)  product development 
C)  product activation 
D)  marketing strategy development 
E)  product design 
A)  idea screening 
B)  product development 
C)  product activation 
D)  marketing strategy development 
E)  product design

Question 18

New product success requires all of the following EXCEPT ________.

Accepted Answer

A)  a whole-company commitment 
B)  a holistic approach for finding new ways to create valued customer experiences 
C)  thinking up a few good ideas 
D)  introducing products that will satisfy a want or need for customers 
E)  efficient engineering and manufacturing 
A)  a whole-company commitment 
B)  a holistic approach for finding new ways to create valued customer experiences 
C)  thinking up a few good ideas 
D)  introducing products that will satisfy a want or need for customers 
E)  efficient engineering and manufacturing

Question 19

The product life cycle presents challenges. Which of the following is LEAST likely to require a company to adapt its marketing strategies?

Accepted Answer

A)  developments in technology 
B)  decreased manufacturing costs 
C)  competition 
D)  changing tastes of consumers 
E)  aging of products 
A)  developments in technology 
B)  decreased manufacturing costs 
C)  competition 
D)  changing tastes of consumers 
E)  aging of products

Question 20

A product idea is an idea for a possible product that a company can offer the market.

Accepted Answer

A) True 
 B)False

Which of the following statements is true of the idea generation stage in the new product development process?

Which of the following is the goal of the team-based new product development approach when it uses cross-functional teams that overlap the steps in the process?

Which of the following statements characterizes the introduction stage of the PLC?

At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance work in cross-functional groups to save time and money in the new product development process. Fantastic Flavors uses a ________ approach.

Why are competitors considered a good external idea source?

JoAnn Fabrics Inc. has created a new combination of colors and fabric types. The firm wants to know how consumers will perceive the new product. The firm is concerned with the product ________.

Over the past few years, Binney and Smith's Crayola crayons has expanded to more than 80 countries around the world. Crayola crayons are in the ________ stage of the PLC.

Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new product development process.

A product idea is ________.

What causes a specific brand's life cycle to change quickly?

Each product will have a life cycle, although its exact shape and length is not known in advance. Briefly explain each phase of the product life cycle.

Due to dropping sales, a company that manufactures soaps begins to sell them to restaurants and hotels to extend their product's life. The soap manufacturer is in the ________ stage of PLC.

At which stage in the PLC do profits increase as promotion costs are spread over a large volume, and as the firm enters new market segments?

To avoid too few new product ideas and the failure of many good ideas, management should implement an innovation management system that collects, reviews, evaluates, and manages new product ideas.

Explain why the PLC can be applied to more than just brands.

The potential sales, costs, and profit projections are being determined for a new product idea at Art for Kids. Which of the following stages of the new product development process does this illustrate?

Which of the following stages of the new product development process occurs immediately after the completion of the business analysis for the product or service?

New product success requires all of the following EXCEPT ________.

The product life cycle presents challenges. Which of the following is LEAST likely to require a company to adapt its marketing strategies?

A product idea is an idea for a possible product that a company can offer the market.

Marketing: Creating Customer Value and Engagement

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

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

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Exam 9: Developing New Products and Managing the Product Life Cycle

Which of the following statements is true of the idea generation stage in the new product development process?

Which of the following is the goal of the team-based new product development approach when it uses cross-functional teams that overlap the steps in the process?

Which of the following statements characterizes the introduction stage of the PLC?

At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance work in cross-functional groups to save time and money in the new product development process. Fantastic Flavors uses a ________ approach.

Why are competitors considered a good external idea source?

JoAnn Fabrics Inc. has created a new combination of colors and fabric types. The firm wants to know how consumers will perceive the new product. The firm is concerned with the product ________.

Over the past few years, Binney and Smith's Crayola crayons has expanded to more than 80 countries around the world. Crayola crayons are in the ________ stage of the PLC.

Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new product development process.

A product idea is ________.

What causes a specific brand's life cycle to change quickly?

Each product will have a life cycle, although its exact shape and length is not known in advance. Briefly explain each phase of the product life cycle.

Due to dropping sales, a company that manufactures soaps begins to sell them to restaurants and hotels to extend their product's life. The soap manufacturer is in the ________ stage of PLC.

At which stage in the PLC do profits increase as promotion costs are spread over a large volume, and as the firm enters new market segments?

To avoid too few new product ideas and the failure of many good ideas, management should implement an innovation management system that collects, reviews, evaluates, and manages new product ideas.

Explain why the PLC can be applied to more than just brands.

The potential sales, costs, and profit projections are being determined for a new product idea at Art for Kids. Which of the following stages of the new product development process does this illustrate?

Which of the following stages of the new product development process occurs immediately after the completion of the business analysis for the product or service?

New product success requires all of the following EXCEPT ________.

The product life cycle presents challenges. Which of the following is LEAST likely to require a company to adapt its marketing strategies?

A product idea is an idea for a possible product that a company can offer the market.

Marketing: Creating Customer Value and Engagement

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

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters