Exam 7: New Product Planning and Development

Creswell Farms produces and sells clover honey. Its owners identify the need to expand the company's product line. A brainstorming session results in 40 different product suggestions, some of which include honey-based salad dressing, honey-flavored sandwich spreads, honey-coated peanuts, a fruit dip, a honey-flavored yogurt, and a ham glaze. Which of the following stages of the new product development process does this indicate?

With regard to new product development, the success of a new product:

Which of the following best describes a strategic alliance?

A project team that comprises of members from different departments who work together toward jointly establishing new product development goals and priorities is known as a _____ team.

M's Pizzas decides to explore the service industry and therefore signs a partnership with the Silverline Chain of Hotels to have its brand of specialty pizzas offered on the hotel's room-service menu. In this scenario, which of the following growth strategies is M's Pizzas using?

Which of the following observations is true of new product policy?

Devon Inc. first marketed Silky Soft as a brand of body lotion to compete with other similar body lotions in the market. Owing to mixed responses to the product, Devon promotes its Silky Soft lotion as an insect repellant that is also good for the skin. Into which of the new product categories does Silky Soft lotion fall?

Which of the following is critical to providing an atmosphere that stimulates new product activity at the idea generation stage of the new product development process?

Establishing progress goals that facilitate the go or no-go decisions regarding continuation of projects is an integral part of managing the _____ risk of new product development.

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

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

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

In the idea screening phase of a new product development process, a firm finds that it lacks the resources and expertise necessary to produce the product. Which of the following is the best course of action for the firm?

It is important to design a new product with both ease of use and aesthetic appeal because it:

Which of the following refers to developing new products and cultivating new markets?

Which of the following strategies refers to creating new products to replace existing ones?

Which of the following best defines guarantee?

Which of the following should be specified by the policy-making criteria on new products?

A new magazine, Valence, was introduced to the market as a raw and bold "underground nightlife magazine." The magazine was not received well by the audience and sales hit an all-time low. Since sales were low, the publisher of the magazine relaunched it as a fashion and lifestyle magazine for 20-something males. In which of the following new product categories would this product fall?

Which of the following is a typical reason for eliminating new product ideas during the idea screening stage?