Exam 7: New Product Planning and Development

Xapple Inc., a manufacturer of bottled lemonade and other beverages, has released a new, zero-calorie drink called Diet Lemonade. This is an example of _____.

_____ is a method of creating and managing the project teams, where groups in different areas of the company simultaneously work on the project.

Which of the following best defines a product feature?

In an ideal selling situation, products that generate a maximum dollar profit with a minimum amount of risk should be:

Which of the following is the least costly stage in the new product development process?

A problem during the idea generation stage of the new product development process within an organization is:

_____ risk is the risk that a new product will not be developed within the desired time and budget.

In which of the following stages of the new product development process is a development budget established and some preliminary marketing and technical research undertaken?

Which of the following statements is true of time to market?

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

Products that are inventions and create a whole new market are called _____.

To its line of canned tomato products, Value Foods introduces cans of readymade diced-and-spiced tomatoes. In which of the following new product categories would diced-and-spiced canned tomatoes fall?

HealthPlus Corp., a popular manufacturer of processed food products, recently introduced specialty infant food under the brand name of Nutrababy. Which of the following new product categories does this product fall into?

Which of the following growth strategies aims at either increasing frequency of consumption or increasing the number of customers using a firm's product(s)?

Product development and diversification can be characterized as _____.

When evaluating risks in the idea screening phase, if a firm is found to lack the necessary resources or expertise, it should:

In the _____ stage of the new product development process, procedures and responsibility for evaluating the success of a new product by comparison with projections are finalized.

Anchor Investments Inc. is an investment bank that 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. This alternative approach to project management is called _____.

Wallflower Inc. sells cards, gift-wrapping materials, and collectibles. To boost sales of its existing products, Wallflower added fresh cut flower arrangements as part of its product offering. In which of the new product categories would the floral arrangements fall?

Fred is a marketing manager 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 Fred's project team following?