Question 1

The purpose of the idea generation stage is to create a few ideas and the purpose of succeeding stages is to increase the number of new-product ideas.

Accepted Answer

A) True 
 B)False

Question 2

Although products that remain in the maturity stage of the PLC seem unchanged,the most successful ones actually evolve to meet changing consumer needs.

Accepted Answer

A) True 
 B)False

Question 3

The R-W-W framework is used in the second step of the new-product development process which involves ________.

Accepted Answer

A)  idea generation
B)  idea screening
C)  concept testing
D)  test marketing
E)  commercializationF) A) and E)
G) A) and B)

Question 4

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 consumers for participating in crowdsourcing activities
C)  determining the product's planned price, distribution, and marketing budget
D)  developing a prototype of the product
E)  identifying target marketsF) B) and E)
G) A) and D)

Question 5

Anita's DayCare plans to offer third-shift childcare,based upon the opening of two new manufacturing plants in the area.Together the plants will hire 423 employees and run all three shifts.Initial test marketing results look promising.To launch this new service,Anita must first decide on ________.

Accepted Answer

A)  timing
B)  employee schedules
C)  identifying suitable new employees
D)  local and state regulations
E)  menu offeringsF) C) and D)
G) A) and C)

Question 6

Habers and Mills had developed a new range of home appliances called Green Home.These appliances had a certification stating that they minimized CFC emissions and energy consumption.The company planned to release the Green Home appliances in 52 stores across 20 countries where Habers and Mills had its stores or franchisees.Though the test marketing process for the Green Home line of products had been completed well ahead of time and the new products were ready for commercialization,the company waited three months to release the final product line on the World Environment Day.Which of the following considerations explains the manner in which Habers and Mills released the Green Home line of appliances?

Accepted Answer

A)  whether to launch the product in a single location
B)  whether to launch the product in a region
C)  whether to launch the product into full national distribution
D)  when to time the new product introduction
E)  when to develop a planned market rolloutF) A) and D)
G) A) and C)

Question 7

A product concept is defined as ________.

Accepted Answer

A)  a product idea that is at the stage of brainstorming
B)  a detailed version of the idea stated in meaningful consumer terms
C)  the way consumers perceive an actual or potential product
D)  an idea for a possible product that the company can see itself offering to the market
E)  an idea for a possible product design that was implemented without screeningF) B) and E)
G) A) and D)

Question 8

Toby's specialized in producing a wide range of clothes and accessories for newborns and infants up to the age of 1 year.Pink is a market leader in the industry for clothes and accessories for toddlers and children up to age four.Recently,Pink and Toby's reached an agreement by the terms of which Pink will be able to sell all of Toby's products and thus target a larger market of children ranging from newborns to toddlers.Which of the following statements would explain this increase in Pink's product offerings?

Accepted Answer

A)  Pink and Toby's are competing in different market segments in the same industry.
B)  Pink acquired Toby's and thus has new products that it can sell in the market.
C)  Pink commercialized its existing products for children between the ages of two and four.
D)  Toby's purchased 51% of the shares of Pink and its holdings.
E)  Toby's and Pink have engaged in an internal marketing strategy in this scenario.F) A) and E)
G) B) and D)

Question 9

In the ________ stage,a product's sales growth slows or levels off.

Accepted Answer

A)  introduction
B)  growth
C)  maturity
D)  decline
E)  phase-inF) A) and E)
G) None of the above

Question 10

A firm can obtain new products in two ways: by acquisition or by new-product development.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following represents an external source of new-product ideas?

Accepted Answer

A)  executives
B)  salespeople
C)  engineers
D)  manufacturing staff
E)  suppliersF) All of the above
G) C) and D)

Question 12

Explain why so many new products fail and how a company can improve its odds of new product success.

Accepted Answer

Although an idea may be good,the market ...

Question 13

Team-based new-product development encourages employees of all departments to work within the roles and boundaries of their individual department and combine the results of their efforts at the commercialization stage.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A)  The first stage in the new-product development process is an idea-reducing step.
B)  When developing new-product ideas, firms restrict the process to internal sources of ideas.
C)  Intrapreneurial programs are an external source of new-product ideas.
D)  Crowdsourcing is an internal source of new-product ideas.
E)  The first stage in this process involves a systematic search for new-product ideas.F) D) and E)
G) A) and B)

Question 15

New products include original products that the firm develops through its own R&D efforts.

Accepted Answer

A) True 
 B)False

Question 16

Wayne Industries is building a new prototype riding lawnmower especially for women.The marketing strategy for the product has been developed and presented.The lawnmower is now being tested rigorously.This step will ensure that the product meets all the CPSC product specifications and leaves little chance for any product liability issues.Once the prototype of the lawnmower passes product tests,the next step is ________.

Accepted Answer

A)  test marketing
B)  portfolio analysis
C)  commercialization
D)  internal marketing
E)  business analysisF) C) and E)
G) None of the above

Question 17

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

Accepted Answer

A)  divisional teams
B)  traditional teams
C)  self-reference groups
D)  cross-functional teams
E)  departmental teamsF) A) and B)
G) B) and C)

Exam 8: Developing New Products and Managing the Product Life Cycle

Explain why so many new products fail and how a company can improve its odds of new product success.

Correct Answer
verified
Although an idea may be good,the market ...
View Answer

The purpose of the idea generation stage is to create a few ideas and the purpose of succeeding stages is to increase the number of new-product ideas.

Correct Answer
verified

Although products that remain in the maturity stage of the PLC seem unchanged,the most successful ones actually evolve to meet changing consumer needs.

Correct Answer
verified

Which of the following represents an external source of new-product ideas?

Correct Answer
verified

Correct Answer
verified

Team-based new-product development encourages employees of all departments to work within the roles and boundaries of their individual department and combine the results of their efforts at the commercialization stage.

Correct Answer
verified

Correct Answer
verified

Anita's DayCare plans to offer third-shift childcare,based upon the opening of two new manufacturing plants in the area.Together the plants will hire 423 employees and run all three shifts.Initial test marketing results look promising.To launch this new service,Anita must first decide on ________.

Correct Answer
verified

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

Correct Answer
verified

In the ________ stage,a product's sales growth slows or levels off.

Correct Answer
verified

A product concept is defined as ________.

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

The R-W-W framework is used in the second step of the new-product development process which involves ________.

Correct Answer
verified

New products include original products that the firm develops through its own R&D efforts.

Correct Answer
verified

A firm can obtain new products in two ways: by acquisition or by new-product development.

Correct Answer
verified

Exam 8: Developing New Products and Managing the Product Life Cycle

Explain why so many new products fail and how a company can improve its odds of new product success.

Correct AnswerverifiedAlthough an idea may be good,the market ...View AnswerShow Answer

The purpose of the idea generation stage is to create a few ideas and the purpose of succeeding stages is to increase the number of new-product ideas.

Correct AnswerverifiedShow Answer

Although products that remain in the maturity stage of the PLC seem unchanged,the most successful ones actually evolve to meet changing consumer needs.

Correct AnswerverifiedShow Answer

Which of the following represents an external source of new-product ideas?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Team-based new-product development encourages employees of all departments to work within the roles and boundaries of their individual department and combine the results of their efforts at the commercialization stage.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Anita's DayCare plans to offer third-shift childcare,based upon the opening of two new manufacturing plants in the area.Together the plants will hire 423 employees and run all three shifts.Initial test marketing results look promising.To launch this new service,Anita must first decide on ________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In the ________ stage,a product's sales growth slows or levels off.

Correct AnswerverifiedShow Answer

A product concept is defined as ________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The R-W-W framework is used in the second step of the new-product development process which involves ________.

Correct AnswerverifiedShow Answer

New products include original products that the firm develops through its own R&D efforts.

Correct AnswerverifiedShow Answer

A firm can obtain new products in two ways: by acquisition or by new-product development.

Correct AnswerverifiedShow Answer

Correct Answer
verified
Although an idea may be good,the market ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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