Question 1

Which of the following costs is most likely associated with the commercialization stage of new-product development?

Accepted Answer

A) 	Building or renting a manufacturing facility 
B) 	Paying groups of target customers for product feedback 
C) 	Determining the product's planned price, distribution, and marketing budget 
D) 	Developing a prototype of the product 
E) 	Identifying target markets

Question 2

The planned product positioning,goals for sales,profits,and ________are all described in the first part of the marketing strategy statement

Accepted Answer

The answer of The planned product positioning,goals for sales,profits,and ________are...

Question 3

What may be learned in a test market?

Accepted Answer

The answer of What may be learned in a test...

Question 4

CellTones,a new company selling several lines of cellular phones,has closely modelled its products after successful products that are already in the marketplace.As it prepares to enter the market with its new products and services,which of the following should concern CellTones the most?

Accepted Answer

A) 	Legal obligations to suppliers and dealers 
B) 	Patent laws 
C) 	The Federal Food, Drug, and Cosmetic Act 
D) 	Product liability suits 
E) 	Limited warranties

Question 5

JoAnn Fabrics has just created a new combination of colours and fabric types.The firm wants to be sure of the way consumers perceive its new product.The firm is concerned with the product ________.

Accepted Answer

The answer of JoAnn Fabrics has just created a new...

Question 6

A ___________ is used to develop an attractive idea.

Accepted Answer

The answer of A ___________ is used to develop an...

Question 7

The PLC concept can be applied by marketers as a useful framework for describing how ________.

Accepted Answer

The answer of The PLC concept can be applied by...

Question 8

Which of the following is a challenge presented by the product life cycle that a firm must face?

Accepted Answer

A) 	Not all products eventually decline. 
B) 	Customer tastes, technologies, and competition do not affect the marketing of the product as it passes through lifecycle stages. 
C) 	A firm must be good at delivering its original product. 
D) 	A firm must be good at adapting its marketing strategies. 
E) 	It is easy to plot the stages as a product goes through them.

Question 9

Increasing profits will most likely occur at which stage of the PLC?

Accepted Answer

A) 	Introduction 
B) 	Maturity 
C) 	Growth 
D) 	Decline 
E) 	Product development

Question 10

The international growth of many professional and business services,such as accounting,consulting,and advertising,led to the globalization of the client companies they serve.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following would lead to greater competition in the maturity stage of the PLC?

Accepted Answer

A) 	Overcapacity 
B) 	Market pioneers 
C) 	Poor management 
D) 	Inadequate promotion 
E) 	Diminishing budgets

Question 12

The team-based new-product development approach is faster because departments work closely together through ________.

Accepted Answer

The answer of The team-based new-product development approach is faster...

Question 13

New product development begins with a systematic search for new product ideas through idea generation.

Accepted Answer

A) True 
 B)False

Question 14

Using the PLC concept to develop marketing strategy can be difficult because strategy is both a ________ and a(n)________ of the product's life cycle.

Accepted Answer

The answer of Using the PLC concept to develop marketing...

Question 15

GreenTree Lawn and Garden Products is engaged in a review of the sales,costs,and profit projections for some new products to find out whether they satisfy the company's objectives.This activity is called business product development.

Accepted Answer

A) True 
 B)False

Question 16

The major purpose of test marketing is to provide management with the information needed to make a final decision about ________.

Accepted Answer

The answer of The major purpose of test marketing is...

Question 17

Skippy Peanut Butter has a new peanut butter and bacon product and finds a small number of representative test cities.It plans to use the results to forecast national sales and profits.Skippy is using ________.

Accepted Answer

The answer of Skippy Peanut Butter has a new peanut...

Question 18

A company launching a new product into the market must first decide on when to launch the product.

Accepted Answer

A) True 
 B)False

Question 19

Atlas Steel Corporation lacks the confidence,capital,and capacity to launch its new steel product into full national or international distribution.Even though test market results look promising,what will be management's next step?

Accepted Answer

A) 	Retest the product in additional markets 
B) 	Develop a planned market rollout over time 
C) 	Secure a loan to provide confidence, capital, and capacity 
D) 	Seek the help of a nationally known consultant 
E) 	Develop a prototype

Question 20

Provide the major sources of external new product ideas and explain why these sources offer advantages over internal sources.

Accepted Answer

The answer of Provide the major sources of external new...

Exam 10: New-Product Development and Product Life-Cycle Strategies

Which of the following costs is most likely associated with the commercialization stage of new-product development?

The planned product positioning,goals for sales,profits,and ________are all described in the first part of the marketing strategy statement

What may be learned in a test market?

CellTones,a new company selling several lines of cellular phones,has closely modelled its products after successful products that are already in the marketplace.As it prepares to enter the market with its new products and services,which of the following should concern CellTones the most?

JoAnn Fabrics has just created a new combination of colours and fabric types.The firm wants to be sure of the way consumers perceive its new product.The firm is concerned with the product ________.

A ___________ is used to develop an attractive idea.

The PLC concept can be applied by marketers as a useful framework for describing how ________.

Which of the following is a challenge presented by the product life cycle that a firm must face?

Increasing profits will most likely occur at which stage of the PLC?

The international growth of many professional and business services,such as accounting,consulting,and advertising,led to the globalization of the client companies they serve.

Which of the following would lead to greater competition in the maturity stage of the PLC?

The team-based new-product development approach is faster because departments work closely together through ________.

New product development begins with a systematic search for new product ideas through idea generation.

Using the PLC concept to develop marketing strategy can be difficult because strategy is both a and a(n) of the product's life cycle.

GreenTree Lawn and Garden Products is engaged in a review of the sales,costs,and profit projections for some new products to find out whether they satisfy the company's objectives.This activity is called business product development.

The major purpose of test marketing is to provide management with the information needed to make a final decision about ________.

Skippy Peanut Butter has a new peanut butter and bacon product and finds a small number of representative test cities.It plans to use the results to forecast national sales and profits.Skippy is using ________.

A company launching a new product into the market must first decide on when to launch the product.

Atlas Steel Corporation lacks the confidence,capital,and capacity to launch its new steel product into full national or international distribution.Even though test market results look promising,what will be management's next step?

Provide the major sources of external new product ideas and explain why these sources offer advantages over internal sources.