Exam 7: New Product Planning and Development

According to the growth vector matrix,which of the following products usually require the firm to make significant investments in research and development and make significant changes in its organizational structure?

A major obstacle to effectively predicting new product demand is _____.

John and his team are working to develop a new product.The company has given them a fixed budget and a rough estimate of the time left until the product must hit the market.The team's key concern is that the product they have developed would be too costly and time-consuming to produce.Which of the following best describes this risk that John and his team are most concerned with?

HealthPlus Company,a manufacturer of processed food products,recently introduced infant food under the brand name of Nutrababy.Which of the following new product categories does this product fall into?

After spending years developing and testing a new MP3 player,Musique,Inc.has finally launched its new product in the market.The company has assigned its best marketing managers to handle the launch.It has also employed an extensive marketing campaign with ads in television,newspapers,and billboards.Which of the following stages of the product development process is Musique currently in?

What is a guarantee?

Devon,Inc.first marketed Silky Soft as a brand of body lotion to compete with other similar body lotions.Today Devon promotes its Silky Soft lotion as an insect repellant that is also good for your skin.Which of the new product categories does Silky Soft lotion fall into?

Establishing progress goals that facilitate the "proceed" or "do not proceed" decisions regarding continuation of projects is an integral part of managing the _____ risk of new product development.

What is a strategic alliance?

What is the main goal of a test market?

Which of the following is a reason for eliminating new product ideas?

Xapple,Inc.,a manufacturer of bottled lemonade and other soft drinks,has released a new,zero-calorie drink called Diet Lemonade.This is an example of _____.

Del Monte Foods added tomatoes that were already diced and spiced to its line of canned tomato products.In which of the new product categories would diced and spiced canned tomatoes fall?

Which of the following will most likely result in a well-designed product that is also economical?

What is a product feature?

Pizzas n' Pies has entered into a deal with Templeton Hotels to have their brand of specialty pizzas offered on the hotel's room service menu.Which of the following growth strategies is Pizzas n' Pies using?

Which of the following denotes a growth direction through the increase in market share for present product markets?

Healthfood Inc.manufactures jelly,made out of gelatin (a colorless,edible protein)in various fruit flavors.However,the sale of its current line of flavored jelly has significantly fallen.The company discovers that women used powdered gelatin dissolved in acetylene (a liquid,organic compound)to strengthen their fingernails.It introduces a flavorless jelly as a nail-building agent in an attempt to boost profits.Identify the product category involved.

Product development and diversification can be characterized as _____.

Which of the following statements about the importance of time to market is true?