Question 1

New-product development starts with ________.

Accepted Answer

A)   idea generation
B)   idea screening
C)   concept development
D)   concept testing
E)   test marketing

Question 2

Because of ________, a company cannot make its product illegally similar to a competitor's already established product.

Accepted Answer

A)   anti-monopoly laws
B)   patent laws
C)   the Consumer Product Safety Act
D)   product warranties
E)   product liability

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

Big Moose Toys is a market pioneer introducing a modern version of Bubble the Moose, a character from an animated television series originally broadcast in the '50s and '60s. The company's version of Sandy the Flying Squirrel, a character from the show targeted to baby boomers, was a strong success. Since the firm is a market pioneer, it needs to make the new launch strategy for Bubble consistent with the intended ________.

Accepted Answer

A)   pricing
B)   product positioning
C)   brand extension
D)   prototype
E)   fad

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Neutron Inc. is conducting a business analysis to determine which of the many newly developed apps should be released. To estimate sales, the company must ________.

Accepted Answer

A)   conduct surveys of competitors
B)   exclusively consider the government's opinions
C)   consider the sales history of similar products
D)   apply the PLC concept to industry sales
E)   opt for business process reengineering

Question 7

Which of the following stages of the PLC is characterized with high promotional expenditures that result from an effort to create consumer awareness?

Accepted Answer

A)   growth
B)   product development
C)   maturity
D)   introduction
E)   decline

Question 8

The business analysis stage represents the first large jump in financial investment in the new-product development process.

Accepted Answer

A) True 
 B)False

Question 9

Each product will have a life cycle, although its exact shape and length is not known in advance. Briefly explain each phase of the product life cycle.

Accepted Answer

Product development begins when the comp...

Question 10

Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be management's next step?

Accepted Answer

A)   retest the product in additional markets
B)   develop a planned market rollout over time
C)   liquidate its assets to gain capital and capacity
D)   seek the help of a nationally known consultant
E)   develop a prototype

Question 11

Executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the ________ stage.

Accepted Answer

A)   business analysis
B)   idea generation
C)   concept testing
D)   idea screening
E)   concept development

Question 12

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

Accepted Answer

The major external sources of new-produc...

Question 13

A ________ is the way consumers perceive an actual or potential product.

Accepted Answer

A)   product idea
B)   product concept
C)   product image
D)   brand personality
E)   concept test

Question 14

Briefly describe the steps in the new-product development process.

Accepted Answer

New-product development starts with idea...

Question 15

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 16

Yummy Peanut Butter created a new coconut-flavored peanut butter that it tested in a small number of representative cities. The company plans to use the results to forecast national sales and profits. Which of the following did the firm use?

Accepted Answer

A)   controlled test markets
B)   simulated test markets
C)   standard test markets
D)   ambush marketing
E)   affinity marketing

Question 17

Which of the following statements is true of the new-product development process?

Accepted Answer

A)   The purpose of the idea screening stage is to create a large number of ideas.
B)   Under the business analysis stage, if the new product satisfies the company's objectives, the product then moves to the product development stage.
C)   A product concept is the way consumers perceive an actual or potential product.
D)   The concept testing stage is the stage at which the product and its proposed marketing program are introduced into realistic market settings.
E)   Commercialization is the process of inviting broad communities of people such as customers, employees, and scientists into the new-product innovation process.

Question 18

Which of the following stages of the new-product development process occurs immediately after the completion of the business analysis for the product or service?

Accepted Answer

A)   idea screening
B)   product development
C)   product activation
D)   marketing strategy development
E)   product design

Question 19

A product idea is an idea for a possible product that a company can offer the market.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following best describes the role of a product steward?

Accepted Answer

A)   to protect employees and laborers from harm
B)   to evaluate new-product ideas against a set of general criteria
C)   to develop a new-product concept into a physical product
D)   to protect the company from liability by proactively ferreting out potential product problems
E)   to decide whether to maintain, harvest, or drop the product in the decline stage of the PLC

Exam 9: New-Product Development and Product Life Cycle Strategies

Neutron Inc. is conducting a business analysis to determine which of the many newly developed apps should be released. To estimate sales, the company must ________.

Correct Answer
verified

The business analysis stage represents the first large jump in financial investment in the new-product development process.

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the ________ stage.

Correct Answer
verified

Which of the following stages of the PLC is characterized with high promotional expenditures that result from an effort to create consumer awareness?

Correct Answer
verified

Briefly describe the steps in the new-product development process.

Correct Answer
verified
New-product development starts with idea...
View Answer

Which of the following statements is true of the new-product development process?

Correct Answer
verified

Which of the following stages of the new-product development process occurs immediately after the completion of the business analysis for the product or service?

Correct Answer
verified

Each product will have a life cycle, although its exact shape and length is not known in advance. Briefly explain each phase of the product life cycle.

Correct Answer
verified
Product development begins when the comp...
View Answer

A product idea is an idea for a possible product that a company can offer the market.

Correct Answer
verified

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

Correct Answer
verified

Yummy Peanut Butter created a new coconut-flavored peanut butter that it tested in a small number of representative cities. The company plans to use the results to forecast national sales and profits. Which of the following did the firm use?

Correct Answer
verified

New-product development starts with ________.

Correct Answer
verified

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

Correct Answer
verified
The major external sources of new-produc...
View Answer

Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be management's next step?

Correct Answer
verified

Because of ________, a company cannot make its product illegally similar to a competitor's already established product.

Correct Answer
verified

Which of the following best describes the role of a product steward?

Correct Answer
verified

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

Correct Answer
verified

A ________ is the way consumers perceive an actual or potential product.

Correct Answer
verified

Exam 9: New-Product Development and Product Life Cycle Strategies

Neutron Inc. is conducting a business analysis to determine which of the many newly developed apps should be released. To estimate sales, the company must ________.

Correct AnswerverifiedShow Answer

The business analysis stage represents the first large jump in financial investment in the new-product development process.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the ________ stage.

Correct AnswerverifiedShow Answer

Which of the following stages of the PLC is characterized with high promotional expenditures that result from an effort to create consumer awareness?

Correct AnswerverifiedShow Answer

Briefly describe the steps in the new-product development process.

Correct AnswerverifiedNew-product development starts with idea...View AnswerShow Answer

Which of the following statements is true of the new-product development process?

Correct AnswerverifiedShow Answer

Which of the following stages of the new-product development process occurs immediately after the completion of the business analysis for the product or service?

Correct AnswerverifiedShow Answer

Each product will have a life cycle, although its exact shape and length is not known in advance. Briefly explain each phase of the product life cycle.

Correct AnswerverifiedProduct development begins when the comp...View AnswerShow Answer

A product idea is an idea for a possible product that a company can offer the market.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Yummy Peanut Butter created a new coconut-flavored peanut butter that it tested in a small number of representative cities. The company plans to use the results to forecast national sales and profits. Which of the following did the firm use?

Correct AnswerverifiedShow Answer

New-product development starts with ________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedThe major external sources of new-produc...View AnswerShow Answer

Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be management's next step?

Correct AnswerverifiedShow Answer

Because of ________, a company cannot make its product illegally similar to a competitor's already established product.

Correct AnswerverifiedShow Answer

Which of the following best describes the role of a product steward?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A ________ is the way consumers perceive an actual or potential product.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
New-product development starts with idea...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
verified
Product development begins when the comp...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The major external sources of new-produc...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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