Exam 9: Developing New Products and Services

In which stage in the new-product process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats?

Advertising Age named its CEO Marketer of the Decade, Fortune rated it as the world's most admired company and Bloomberg Businessweek perennially identifies it as the most innovative company in the world. This firm is

Compared with people-based services, equipment-based services do not have the marketing concern of

In a gap analysis, a person can establish expectations for a service he or she has not yet experienced through word-of-mouth communications, personal needs, past experiences, and promotional activities. However, the actual experiences are determined by

Services contribute how much to the U.S. gross domestic product as compared with goods?

X-1 performs all of the following activities during the development stage of its new-product process EXCEPT:

Development refers to the stage of the new-product process

In terms of price, which of the following types of consumer product would be relatively inexpensive?

Among business products, support products include installations such as

Using an existing brand name to introduce a product that is new to the company into a totally new, unfamiliar market seems like a good idea. Several years ago, Cosmopolitan magazine introduced Cosmopolitan-branded yogurt, and it failed quickly. This innovation strategy is known as a

Advertising is most important for which of the following products?

The categories for equipment-based services include __________.

The stage of the new-product process that positions and launches a new product in full-scale production and sales is referred to as __________.

Business researchers emphasize that firms must actively involve customers and suppliers in the new-product development process. This means that the focus should be on what the new product will __________ rather than simply what they want.

With respect to price and availability, shopping products are likely to be

Breyer's introduced a new line of ice cream flavors for sale in elegant black containers. This was done on a limited scale to determine consumer reactions before national distribution of the product. Breyer's new product was in the __________ stage of the new-product process.

Which type of consumer product is purchased relatively infrequently and the purchase decision takes some time because the consumer compares offerings during the shopping experience?

-Consider Figure 9-3 above. Services can be classified by their method of delivery. Box A represents

Equipment-based services like ATMs, online brokerage firms, and automated car washes, do not have the marketing concern of

The stage of the new product process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections is referred to as