Question 1

The more formal "business attire" look of corporate dress of the 1980s and 1990s gave way to the "business casual" look of the 2000s and 2010s. This is an example of a ________.

Accepted Answer

A)   style
B)   fashion
C)   fad
D)   subculture
E)   norm

Question 2

Marketers often involve actual customers in product testing.

Accepted Answer

A) True 
 B)False

Question 3

John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new product development process does this exemplify?

Accepted Answer

A)   idea screening
B)   idea generation
C)   concept testing
D)   product development
E)   product manufacturing

Question 4

Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits?

Accepted Answer

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

Question 5

Apple's iPod has been called "one of the greatest consumer electronics hits of all time." iPods have been sold in huge numbers, and Apple captures a large share of the music player market. This success has attracted many large, resourceful competitors. The iPod is in the ________ stage of the product life cycle.

Accepted Answer

A)   introduction
B)   growth
C)   maturity
D)   decline
E)   adoption

Question 6

Companies seldom solicit ideas from customers during the idea generation stage of product development.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following would most likely be included in an executive's write up of a new product idea to be presented to a new product committee?

Accepted Answer

A)   the proposed customer value proposition
B)   the product image
C)   the marketing strategy
D)   the business analysis
E)   the pricing strategy

Question 8

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 the Moose consistent with the intended ________.

Accepted Answer

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

Question 9

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 10

Which of the following involves costs that most likely occur during the commercialization stage of new product development?

Accepted Answer

A)   building or renting a manufacturing facility
B)   paying target customers for product feedback
C)   determining the product's planned distribution
D)   developing a prototype of the product
E)   identifying target markets

Question 11

Under a team-based new product development approach, ________.

Accepted Answer

A)   a single departmental team works to complete different stages of the process before passing the new product along to the next department and stage
B)   the organizational tension and confusion is less than under the sequential approach
C)   company departments work closely together in cross-functional teams
D)   a bottleneck at one phase can seriously delay an entire project
E)   the new product passes from one department to another before finalizing

Question 12

A style is best defined as a ________.

Accepted Answer

A)   currently popular trend in retail goods
B)   popular consumer taste at a given time
C)   temporary period of unusually high sales
D)   short-term component of the marketing mix
E)   basic and distinctive mode of expression

Question 13

Which of the following is an internal source for new product ideas?

Accepted Answer

A)   competitors
B)   company employees
C)   marketing research firms
D)   trade magazines
E)   government agencies

Question 14

Sequential product development has the advantage of not only being a team-oriented approach, but also of being faster in bringing products to market.

Accepted Answer

A) True 
 B)False

Question 15

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 16

The product development stage requires ________.

Accepted Answer

A)   a huge jump in investment
B)   salespeople to contact potential customers
C)   financial analysis
D)   a few hours
E)   management approval

Question 17

Which of the following is included in the second part of the marketing strategy statement?

Accepted Answer

A)   advertising tagline
B)   promotional mix
C)   planned price
D)   customer segmentation
E)   operational excellence

Question 18

A(n)  ________ chooses a strategy consistent with the intended product positioning. To gain market leadership requires correct decisions from the beginning.

Accepted Answer

A)   brand evangelist
B)   market pioneer
C)   early adopter
D)   laggard
E)   harvester

Question 19

In the ________ stage of the new product development process, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them.

Accepted Answer

A)   product design
B)   idea generation
C)   concept development and testing
D)   product development
E)   product activation

Exam 9: Developing New Products and Managing the Product Life Cycle

Correct Answer
verified

John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new product development process does this exemplify?

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

Which of the following is included in the second part of the marketing strategy statement?

Correct Answer
verified

In the ________ stage of the new product development process, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them.

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Under a team-based new product development approach, ________.

Correct Answer
verified

Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits?

Correct Answer
verified

Marketers often involve actual customers in product testing.

Correct Answer
verified

A(n) ________ chooses a strategy consistent with the intended product positioning. To gain market leadership requires correct decisions from the beginning.

Correct Answer
verified

Companies seldom solicit ideas from customers during the idea generation stage of product development.

Correct Answer
verified

Which of the following involves costs that most likely occur during the commercialization stage of new product development?

Correct Answer
verified

Sequential product development has the advantage of not only being a team-oriented approach, but also of being faster in bringing products to market.

Correct Answer
verified

The more formal "business attire" look of corporate dress of the 1980s and 1990s gave way to the "business casual" look of the 2000s and 2010s. This is an example of a ________.

Correct Answer
verified

The product development stage requires ________.

Correct Answer
verified

Which of the following is an internal source for new product ideas?

Correct Answer
verified

Which of the following would most likely be included in an executive's write up of a new product idea to be presented to a new product committee?

Correct Answer
verified

A style is best defined as a ________.

Correct Answer
verified

Exam 9: Developing New Products and Managing the Product Life Cycle

Correct AnswerverifiedShow Answer

John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new product development process does this exemplify?

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

Which of the following is included in the second part of the marketing strategy statement?

Correct AnswerverifiedShow Answer

In the ________ stage of the new product development process, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Under a team-based new product development approach, ________.

Correct AnswerverifiedShow Answer

Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits?

Correct AnswerverifiedShow Answer

Marketers often involve actual customers in product testing.

Correct AnswerverifiedShow Answer

A(n) ________ chooses a strategy consistent with the intended product positioning. To gain market leadership requires correct decisions from the beginning.

Correct AnswerverifiedShow Answer

Companies seldom solicit ideas from customers during the idea generation stage of product development.

Correct AnswerverifiedShow Answer

Which of the following involves costs that most likely occur during the commercialization stage of new product development?

Correct AnswerverifiedShow Answer

Sequential product development has the advantage of not only being a team-oriented approach, but also of being faster in bringing products to market.

Correct AnswerverifiedShow Answer

The more formal "business attire" look of corporate dress of the 1980s and 1990s gave way to the "business casual" look of the 2000s and 2010s. This is an example of a ________.

Correct AnswerverifiedShow Answer

The product development stage requires ________.

Correct AnswerverifiedShow Answer

Which of the following is an internal source for new product ideas?

Correct AnswerverifiedShow Answer

Which of the following would most likely be included in an executive's write up of a new product idea to be presented to a new product committee?

Correct AnswerverifiedShow Answer

A style is best defined as a ________.

Correct AnswerverifiedShow Answer

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