Question 1

Which of the following is a key component that contributes to the success of new product development efforts?

Accepted Answer

A)  Assigning the task of new product development exclusively to top management 
B)  Limiting the budget in order to reduce losses in case the product fails 
C)  Creating a cross-functional team early in the development process 
D)  Assigning a group of marketers the task of developing new products 
A)  Assigning the task of new product development exclusively to top management 
B)  Limiting the budget in order to reduce losses in case the product fails 
C)  Creating a cross-functional team early in the development process 
D)  Assigning a group of marketers the task of developing new products

Question 2

Which of the following is an example of a technology push activity?

Accepted Answer

A)  Conducting basic and applied research for new ideas 
B)  Identifying market needs that current products are not satisfying 
C)  Screening ideas from unusual and unprecedented sources 
D)  Disseminating information gained from customers and other contacts 
A)  Conducting basic and applied research for new ideas 
B)  Identifying market needs that current products are not satisfying 
C)  Screening ideas from unusual and unprecedented sources 
D)  Disseminating information gained from customers and other contacts

Question 3

Dexo Inc. plans to launch a new version of its beverage, Lime n' Lemon. The new variant will be similar to the current Lime n' Lemon in terms of taste and packaging, but it will be fortified with vitamins and minerals. The company decides to market the new drink as Lime n' Lemon Extreme. Which of the following new product categories does this new beverage fall into?

Accepted Answer

A)  New-to-the-world products 
B)  New-to-the-firm products 
C)  Improvements and revisions of existing products 
D)  Product repositionings 
A)  New-to-the-world products 
B)  New-to-the-firm products 
C)  Improvements and revisions of existing products 
D)  Product repositionings

Question 4

_____ refers to a method used for creating and managing project teams, where a project team can work in relative privacy away from the rest of the organization.

Accepted Answer

A)  Skunkworks 
B)  Relay approach 
C)  Six sigma 
D)  Rugby approach 
A)  Skunkworks 
B)  Relay approach 
C)  Six sigma 
D)  Rugby approach

Question 5

In the context of new product development, the inability of a firm to satisfy customer needs can be attributed to:

Accepted Answer

A)  upfront intelligence efforts that prevent further development. 
B)  failure on the part of the firm to stick close to its core competencies. 
C)  excessive competition from inappropriate quarters. 
D)  decline in the sales of old products compared to the sales of new products. 
A)  upfront intelligence efforts that prevent further development. 
B)  failure on the part of the firm to stick close to its core competencies. 
C)  excessive competition from inappropriate quarters. 
D)  decline in the sales of old products compared to the sales of new products.

Question 6

Marked Technologies Inc. had an idea for a new airplane rudder. When it could not gain access to the resources it needed to develop the new product, it entered into a long-term partnership with Z-High Airlines. Today Z-High Airlines uses this rudder on its commercial passenger jets. The relationship between Marked Technologies and Z-High Airlines is an example of a(n)_____.

Accepted Answer

A)  intrapreneurial venture 
B)  franchise 
C)  acquisition 
D)  strategic alliance 
A)  intrapreneurial venture 
B)  franchise 
C)  acquisition 
D)  strategic alliance

Question 7

Which of the following strategies is used when an automobile manufacturing company introduces a new car model to replace an existing one and advertises it in its present market?

Accepted Answer

A)  Market development 
B)  Product development 
C)  Product diversification 
D)  Market penetration 
A)  Market development 
B)  Product development 
C)  Product diversification 
D)  Market penetration

Question 8

_____ are products that extend current product lines to current markets.

Accepted Answer

A)  New-to-the-world products 
B)  New-to-the-firm products 
C)  Additions to existing product lines 
D)  Improvements and revisions of existing products 
A)  New-to-the-world products 
B)  New-to-the-firm products 
C)  Additions to existing product lines 
D)  Improvements and revisions of existing products

Question 9

Fun Time Games Inc. develops and markets mobile entertainment software. The company's application portfolio includes single and multiplayer games, ring tones, and other entertainment content. Its most popular mobile game is the Lightz200. Recently, it released a new, upgraded version compatible with all major mobile handsets called the Lightz201 series. Which of the following product categories would best describe the Lightz201 series?

Accepted Answer

A)  New-to-the-world products 
B)  Additions to existing product lines 
C)  Product repositionings 
D)  Improvements and revisions of existing products 
A)  New-to-the-world products 
B)  Additions to existing product lines 
C)  Product repositionings 
D)  Improvements and revisions of existing products

Question 10

In order to compete with its counterpart, Fine Snacks, Kasey's Pretzels Corp. introduced honey-mustard pretzels to its product line. This is an example of _____.

Accepted Answer

A)  new-to-the-world products 
B)  new-to-the-firm products 
C)  additions to existing product lines 
D)  product repositioning 
A)  new-to-the-world products 
B)  new-to-the-firm products 
C)  additions to existing product lines 
D)  product repositioning

Question 11

Light Eats is a buffet-style salad bar with locations in the South, West, and Midwest United States. It serves a variety of salads, soups, and fresh farm products for the health conscious. Recently, it has introduced a new unit called Frozen Fruits, which serves ice creams and sorbets made from fresh fruits and vegetables. Which of the following new product categories does the Frozen Fruits unit fall into?

Accepted Answer

A)  New-to-the-world products 
B)  Revisions of existing products 
C)  Product repositionings 
D)  Additions to existing product lines 
A)  New-to-the-world products 
B)  Revisions of existing products 
C)  Product repositionings 
D)  Additions to existing product lines

Question 12

A popular television channel ropes in a celebrity to make a guest appearance in one of the episodes of a popular talk show. The intention of this initiative is to attract new viewers toward watching the talk show. The talk show's producer believes that it also helps in increasing the market share of the network that airs the show. This scenario is an example of _____ strategy.

Accepted Answer

A)  market development 
B)  product development 
C)  market saturation 
D)  diversification 
A)  market development 
B)  product development 
C)  market saturation 
D)  diversification

Question 13

HeadStart, an automobile manufacturer, has found that sales of its RockStart SUV has fallen over the last few years. Consequently, HeadStart introduces a new, revamped version of the SUV with additional features such as a latest GPS technology device and padded dashboards. The company stops production of the old model in order to invest all of its resources into marketing this new model in its present market. In this scenario, which of the following growth strategies is HeadStart employing?

Accepted Answer

A)  Market development 
B)  Market penetration 
C)  Product development 
D)  Product penetration 
A)  Market development 
B)  Market penetration 
C)  Product development 
D)  Product penetration

Question 14

The producers of a new television show are certain that their new show will be a success due to its gripping storyline and the star-studded cast. However, they are concerned about exceeding their production budget due to shoots that are set in exotic locations and the high pay that some of the stars are demanding. This cost overrun would be an example of a(n) _____ risk.

Accepted Answer

A)  functional 
B)  hierarchical 
C)  market 
D)  internal 
A)  functional 
B)  hierarchical 
C)  market 
D)  internal

Question 15

Which of the following indicates the direction in which an organization is moving with respect to its current products and markets?

Accepted Answer

A)  Growth vector matrix 
B)  Line extension graph 
C)  Market segmentation index 
D)  Market diversification grid 
A)  Growth vector matrix 
B)  Line extension graph 
C)  Market segmentation index 
D)  Market diversification grid

Question 16

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

Accepted Answer

A)  surety 
B)  warranty 
C)  insurance 
D)  liability 
A)  surety 
B)  warranty 
C)  insurance 
D)  liability

Question 17

Classics Corp. has been focusing their production efforts entirely on creating intricate artifacts and other collectibles. However, in light of stiff competition and demand, they decide to expand their product class by introducing their first line of dinnerware. In which of the following new product categories would the dinnerware fall?

Accepted Answer

A)  New-to-the-world products 
B)  New-to-the-firm products 
C)  Additions to existing product lines 
D)  Product improvements 
A)  New-to-the-world products 
B)  New-to-the-firm products 
C)  Additions to existing product lines 
D)  Product improvements

Question 18

Identify the stage of new product development process where emphasis is given to following up on elements that include bugs in design, production costs, quality control, and inventory requirements.

Accepted Answer

A)  Commercialization 
B)  Test marketing 
C)  Personal selling 
D)  Direct marketing 
A)  Commercialization 
B)  Test marketing 
C)  Personal selling 
D)  Direct marketing

Question 19

Which of the following best corresponds to repositioning of products?

Accepted Answer

A)  Products that are retargeted for new use 
B)  Products that are line extensions 
C)  Current products that are recovered from sales dips 
D)  Products that are novel inventions 
A)  Products that are retargeted for new use 
B)  Products that are line extensions 
C)  Current products that are recovered from sales dips 
D)  Products that are novel inventions

Question 20

Which of the following is a reason why new products have failed once they reach the marketplace?

Accepted Answer

A)  Anticipated reactions from competitors 
B)  Competitive point of difference 
C)  Improper channels of distribution selected 
D)  Extensive use of advertisements to position brand differences 
A)  Anticipated reactions from competitors 
B)  Competitive point of difference 
C)  Improper channels of distribution selected 
D)  Extensive use of advertisements to position brand differences

Which of the following is a key component that contributes to the success of new product development efforts?

Which of the following is an example of a technology push activity?

_____ refers to a method used for creating and managing project teams, where a project team can work in relative privacy away from the rest of the organization.

In the context of new product development, the inability of a firm to satisfy customer needs can be attributed to:

Which of the following strategies is used when an automobile manufacturing company introduces a new car model to replace an existing one and advertises it in its present market?

_____ are products that extend current product lines to current markets.

In order to compete with its counterpart, Fine Snacks, Kasey's Pretzels Corp. introduced honey-mustard pretzels to its product line. This is an example of _____.

Which of the following indicates the direction in which an organization is moving with respect to its current products and markets?

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

Identify the stage of new product development process where emphasis is given to following up on elements that include bugs in design, production costs, quality control, and inventory requirements.

Which of the following best corresponds to repositioning of products?

Which of the following is a reason why new products have failed once they reach the marketplace?

Strategic Planning and the Marketing Management Process

Marketing Research: Process and Systems for Decision Making

Consumer Behavior

Business, Government, and Institutional Buying

Market Segmentation

Product and Brand Strategy

Integrated Marketing Communications

Personal Selling, Relationship Building, and Sales Management

Distribution Strategy

Pricing Strategy

The Marketing of Services

Global Marketing

Portfolio Models

Filters

Exam 7: New Product Planning and Development

Which of the following is a key component that contributes to the success of new product development efforts?

Which of the following is an example of a technology push activity?

_____ refers to a method used for creating and managing project teams, where a project team can work in relative privacy away from the rest of the organization.

In the context of new product development, the inability of a firm to satisfy customer needs can be attributed to:

Which of the following strategies is used when an automobile manufacturing company introduces a new car model to replace an existing one and advertises it in its present market?

_____ are products that extend current product lines to current markets.

In order to compete with its counterpart, Fine Snacks, Kasey's Pretzels Corp. introduced honey-mustard pretzels to its product line. This is an example of _____.

Which of the following indicates the direction in which an organization is moving with respect to its current products and markets?

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

Identify the stage of new product development process where emphasis is given to following up on elements that include bugs in design, production costs, quality control, and inventory requirements.

Which of the following best corresponds to repositioning of products?

Which of the following is a reason why new products have failed once they reach the marketplace?

Strategic Planning and the Marketing Management Process

Marketing Research: Process and Systems for Decision Making

Consumer Behavior

Business, Government, and Institutional Buying

Market Segmentation

Product and Brand Strategy

Integrated Marketing Communications

Personal Selling, Relationship Building, and Sales Management

Distribution Strategy

Pricing Strategy

The Marketing of Services

Global Marketing

Portfolio Models

Filters