Exam 7: New Product Planning and Development

A producer's statement of what it will do to compensate buyers if the sold products are defective or do not work properly is known as a(n)_____.

Fred is a marketing consultant working in tandem with members from other functional areas that include engineering,production,and administrative staff.While evaluating a new product proposal,Fred and his team members from other functional areas work simultaneously toward reaching a conclusion.Which of the following methods is illustrated in this scenario?

In the _____ stage of the new product development process,management goes outside the company and submits a product candidate for customer approval.

Marked Technologies Inc.has an idea for a new airplane rudder.After extensive research,it realizes that it lacks the resources needed to develop the rudder and enters into a long-term partnership with Z-High Airlines.Z-High Airlines was on the lookout for a new rudder design to be used in its commercial passenger jets.In this scenario,the relationship between Marked Technologies and Z-High Airlines is an example of a(n)_____.

Which of the following methods are commonly used for creating and managing project teams?

Which of the following is essential to the generation of new product ideas?

In an organization,which of the following will most likely result in a well-designed new product that pleases customers and is also economical?

Which of the following organizational growth strategies seeks to find new customers for existing products?

Members of a business development team work together to create a new hardware installation device.The team is worried that by the time the finished product hits the market,customers' needs might change and the device would become a failure.Which of the following risks does this scenario best exemplify?

Which of the following organizational growth strategies deals with present products in present markets?

Which of the following statements is true of new product planning and development?

Which of the following is an example of a product development strategy?

In the _____ stage of the new product development process,emphasis is given to following up on elements such as bugs in design,production costs,quality control,and inventory requirements.

Which of the following is true of the idea generation stage of the new product development process?

In the context of new product planning and development,_____ costs refer not only to the alternative uses of funds spent on product failures but also to the time spent in unprofitable product development.

Joe and his team have been given a fixed budget and a time frame for the development of a new product.The team's key concern is that the development is likely to overshoot the given budget and time frame.Which of the following categories of risk is likely to be faced by Joe and his team?

The primary goal of a test market is to:

Anchor Investments Inc. ,an investment bank,acts as a financial advisory body to many independent asset owners.The bank acquires a high-stakes project that requires the exclusive involvement of senior project managers.They therefore work in relative privacy away from the rest of the organization.In this scenario,Anchor Investments is most likely using the _____ approach.

A key component that contributes to the success of many companies' product development efforts relates to the emphasis placed on:

Wardetox Inc. ,a wardrobe manufacturing company,has a huge clientele base in the southern region of a country named Berlinia.Based on excellent customer feedback,it wants to expand its base to the other regions of the country.In this scenario,Wardetox is most likely using the _____ growth strategy.