Exam 10: Developing New Products and Services

A __________ is a group of product or service items that are closely related because they satisfy a class of needs,are used together,are sold to the same customer group,are distributed through the same type of outlets,or fall within a given price range.

The stage of the new-product process that develops a pool of concepts to serve as candidates for new products is referred to as __________.

A failure fee is a penalty payment

Among consumer products,advertising and wide distribution are especially important for

Business products refer to

Concept tests are part of which stage in the new-product process?

For services,business analysis must consider __________,which finds ways to match the availability of the service to when it is needed.

Among business products,which of the following would most likely be considered an installation?

The relationship between a product line and product mix is

Using an existing brand name to introduce a product that is new to the company into a totally new,unfamiliar market seems like a good idea.Several years ago,Harley-Davidson introduced perfume under the Harley-Davidson brand name-and it failed quickly.This innovation strategy is known as a

The Little Remedies products photo shown above BEST describes which of the following?

__________ often speeds up software development by using a "do it,try it,fix it" approach that encourages continuous improvement even after the initial design.

The screening and evaluation stage of the new-product process involves

Open innovation helps organization overcome __________,one of the inertias common in new-product failures.

Sara Burns is the owner of a company called TropicalSpice and was looking for a new product to go with her company's line of food condiments when a friend suggested combining spices from India with tea.In the __________ stage of the new-product process,the spices and tea mixtures were exposed to prospective consumers under realistic purchase conditions.

Among business products,supplies usually consist of

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable.The Love Bandit Bear is designed for people to give to each other on Valentine's Day.The unique identification number that the Vermont Teddy Bear Company uses to distinguish this Teddy bear from the others in its product line for ordering and inventory purposes is called a(n)

Consumer products refer to

Ideally,before a new product or service is developed,a firm should have a precise protocol,which is a statement that identifies: (1)__________; (2)specific customers' needs,wants,and preferences;and (3)what the product or service will be and do to satisfy consumers.

New-product strategy development calls for INGenius Co.to develop a battery recycler for the business market.Which is the most likely stage of the new-product process in which manufacturing issues regarding the new product become an especially important element?