Exam 11: Product Management and New-Product Development

If you are seeking new product ideas for your business,your ______ are a good source.

Product liability means the legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products.

The product life-cycle concept tells a manager how long each stage of the cycle will last.

A manager shouldn't worry about making a financial return from money spent on a quality program as long as customers recognize that the quality is high.

Competition for a product or product category begins to increase rapidly during the ______ stage of the product life cycle.

In the idea generation stage of the new-product development process,______.

A new product idea is more likely to move quickly through the early stages of the product life cycle when the product ______.

Health Care Products Company has noticed that in one of its product-markets industry sales have leveled off and competition has been tougher than ever.This product-market appears to be in the ______ stage of the product life cycle.

Which of the following gives the correct order of the steps in the new-product development process?

When assessing a firm's quality from the customer's perspective,marketing managers must take account of all instances where customers have contact with the firm and its products.These instances are called ______.

When building quality into services,managers should ______.

As a product moves through its product life cycle ______.

Regarding product life cycles,good marketing managers know that ______.

During the development step of new product development,a firm could develop a ______,an early sample or model built to test a concept.

New products that are minor variations on existing products,and which require no change to consumer behavior,are called _____.

Over the past several years,like other auto manufacturers,General Motors (GM)has introduced many new models of sport utility vehicles (SUVs)in all of its major divisions.This proliferation of SUVs and an increase in gasoline prices have caused sales to level off.In response,General Motors offered rebates of up to $5,000,or no-interest financing,on selected models of SUVs.The largest rebates went to current owners of GM vehicles,so that they would replace their current vehicles with a GM model instead of switching to another brand.The rebates have been heavily advertised on national television.Profit margins per vehicle have shrunk as a result of these costly promotions.In what stage of the product life cycle is GM currently operating?

According to the Federal Trade Commission (FTC),a new product is ______.

Cargill,Inc.is finally earning a profit on the unique product it introduced six months ago.Cargill's advertising is both informative and persuasive.Much money is being spent on Place development.There is little price competition,although several competitors have come out with reasonable imitations.Total industry sales and profits are both rising.In which stage of the product life cycle is Cargill operating?

In the market growth stage of the product life cycle,______.

Successful companies should ______.