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

Neutron Inc. is conducting a business analysis to determine which of the many newly developed apps should be released. To estimate sales, the company must ________.

A company can install a(n) ________ management system to collect, review, evaluate, and manage new product ideas.

Which of the following is an external source for ideas?

Which of the following statements is true of 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 ________.

For concept test, companies will frequently present customers with ________ of the concept for a reliable concept test.

The PLC concept can be applied by marketers as a useful framework for describing how ________.

P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. General Foods was able to enter the ________ stage of the new product development process before P&G could.

Why has the cost of product liability insurance risen so dramatically?

Manufacturers must comply with specific laws regarding ________.

How might a firm benefit from implementing an "intrapreneurial" program?

Differentiate between controlled test markets and simulated test markets.

Which of the following stages in the new product development would a firm engage in immediately after the completion of concept testing?

Which of the following stages of the PLC is characterized with high promotional expenditures that result from an effort to create consumer awareness?

What factors are assessed in test marketing?

Acquisition refers to ________.

Which of the following statements is true of test marketing?

Which of the following focuses on finding new ways to solve customer problems and create more customer-satisfying experiences?

P&G has sold off a number of lesser or declining brands such as Folgers coffee and Cover Girl cosmetics. In these examples, management decided to ________ the products.

Explain common reasons for the failure of new products. What must be the goals for a company to create successful new products?