Exam 10: New-Product Development and Product Life-Cycle Strategies

The team-based new-product development approach uses cross-functional teams that overlap the steps in the process to achieve which of the following goals?

How might competitors be a good external idea source?

When sales of a product falter during the PLC,a company can take several approaches.The more common ones are to modify the marketing mix,modify the product,or modify the market.

Which of the following is necessary for successful new-product development?

During which stage of new-product development will management most likely estimate minimum and maximum sales to assess the range of risk in launching a new product?

JumBo Games is launching a new set of game toys in the commercialization stage.The first decision to make is introduction timing and the second is where to launch the new product.

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 ________.

How does the use of controlled test markets differ from the use of standard test markets?

Google is known for its product innovation.A company like Google has likely installed a(an)________ to collect,review,evaluate,and manage new-product ideas.

Which of the following is the most likely reason that employees at your firm regularly attend trade shows and seminars?

If terms that are meaningful to customers are used to describe a new idea it is often called a _____________.

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

Superior Luggage Company has undertaken the task of identifying its products in the decline stage of the PLC.Which of the following should be done in the identification process?

Malibu Beach Parties finds that the tastes and preferences of its customers change more rapidly than in the past.The manager should constantly look for external ideas from customers,suppliers,and the competition.

Your firm asks you to consult internal sources for new product ideas.Which of the following are common internal sources?

The federal government may prevent a company from adding products through acquisitions if acquisition threatens to lessen competition.

Which of the following is a product concept?

Because names,labels,and colours may not easily translate from one country to another,international marketers must carefully assess ________.

Growth is a period of slowdown in sales growth because the product has achieved acceptance by most potential buyers.

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