Question 1

Many new product ideas are necessary to produce one successful new product.

Accepted Answer

A) True 
 B)False  True

Question 2

In the context of the product life cycle,a long-run drop in a product's sales signals the beginning of the _____.

Accepted Answer

A)  ​introductory stage
B)  growth stage
C)  maturity stage​
D)  ​decline stageE) A) and B)
F) All of the above

Question 3

Which of the following is the most important factor in successful new-product introduction?

Accepted Answer

A)  ​The features of the new product should be similar to its substitutes in the market.
B)  The product should not be developed using crowdsourcing.
C)  The new product should be priced lower than other products in the same category.
D)  ​The new product should deliver a meaningful and perceivable benefit to a sizable number of people.E) A) and B)
F) None of the above

Question 4

Roger,an affluent graduate,buys gadgets on the first day of their launch in the market.He reads expert reviews on the Internet,and he is not influenced by the opinions of his family and friends while choosing products.Roger would fall under the category of _____ in the diffusion process.

Accepted Answer

A)  ​the late majority
B)  innovators
C)  the early majority
D)  ​early adoptersE) A) and B)
F) All of the above

Question 5

Concept tests are used at the screening stage to rate concept or product alternatives.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following statements best describes simultaneous product development?

Accepted Answer

A)  ​It is a strategy that provides general guidelines for generating, screening, and evaluating new-product ideas.
B)  It is used to determine the reactions of potential customers in a market situation.
C)  It is the process where all the involved areas work together rather than sequentially during a product's development.
D)  ​It is a strategy that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation.E) B) and D)
F) B) and C) C

Question 7

Marketing costs are high in the introductory stage of the product life cycle because:

Accepted Answer

A)  ​product design changes become stylistic rather than functional.
B)  high dealer margins are often needed to obtain adequate distribution.
C)  manufacturers scramble to sign up dealers and distributors.
D)  ​emphasis is given to communication of the differences between brands in the market.E) A) and B)
F) None of the above

Question 8

Identify a true statement about the maturity stage of the product life cycle (PLC) .

Accepted Answer

A)  ​The beginning of this stage is signaled by increased sales.
B)  Niche marketers that target the underserved segments of a market emerge during this stage.
C)  It is the shortest stage of the PLC.
D)  ​Product design changes tend to become functional rather than stylistic.E) All of the above
F) A) and B)

Question 9

In the early stage of development,the research and development or engineering department may develop a prototype of the product.

Accepted Answer

A) True 
 B)False

Question 10

In the context of the new-product development process,the decision to market a product is made during _____.

Accepted Answer

A)  ​commercialization
B)  test marketing
C)  the development stage
D)  ​the business analysis stageE) B) and D)
F) All of the above

Question 11

The objective of test marketing is:

Accepted Answer

A)  ​to implement simultaneous product development.
B)  to shorten the development process of a product and reduce costs.
C)  to evaluate alternative marketing strategies.
D)  ​to create three-dimensional prototypes quickly and at a relatively low cost.E) None of the above
F) All of the above

Question 12

The growth stage of the product life cycle represents the full-scale launch of a new product into the marketplace.

Accepted Answer

A) True 
 B)False

Question 13

Magnira Corp.is an apparel manufacturing company.After an initial slow start,it saw a steep rise in its clientele and a remarkable increase in its profits.However,with the launch of other apparel manufacturers in the market,the profits of Magnira Corp.are declining now.In order to sustain its growth in the market,the managers of Magnira Corp.should:

Accepted Answer

A)  ​focus on primary demand stimulation rather than advertising the brand.
B)  shift to aggressive brand advertising and open new branches.
C)  suggest the management to reduce the number of employees in the company.
D)  ​distribute the company's products at limited outlets.E) B) and C)
F) B) and D)

Question 14

A firm that starts with a global strategy is better able to develop products that are marketable worldwide.

Accepted Answer

A) True 
 B)False

Question 15

Fresnas Inc.manufactures and sells electronic equipment.The research and development team has generated ideas for new products,and the ideas pass through the screening stage.In this case,the goal of screening will be to:

Accepted Answer

A)  ​calculate preliminary figures for demand, cost, sales, and profitability.
B)  eliminate ideas that are inconsistent with the organization's new-product strategy.
C)  filter various prototypes of the products and select the most efficient one.
D)  ​set a limit on the number of members allowed to evaluate the new-product ideas.E) C) and D)
F) None of the above

Question 16

Which of the following is an objective of focus group interviews?

Accepted Answer

A)  ​To stimulate insightful comments through group interaction
B)  To directly involve customers in test marketing
C)  To get recommendations of product ideas from outside consultants
D)  ​To eliminate ideas that are inconsistent with the organization's new-product strategyE) A) and B)
F) A) and D)

Question 17

How does a multinational corporation meet the needs of the global market?

Accepted Answer

Answers will vary.Increasing globalizati...

Question 18

Which of the following statements is true of opinion leaders?

Accepted Answer

A)  ​They most likely belong to the late majority category of adopters.
B)  They speed up the diffusion process through word-of-mouth communication.
C)  They are distinguished by demographics.
D)  ​They have the longest adoption time and the lowest socioeconomic status.E) None of the above
F) B) and D) B

Question 19

How is the Internet important for implementing simultaneous product development?

Accepted Answer

Answers will vary.The Internet is a usef...

Question 20

In the context of the rate of adoption,relative advantage is defined as the degree to which:

Accepted Answer

A)  ​a product is perceived as superior to existing substitutes.
B)  a new product is consistent with existing values and product knowledge, past experiences, and current needs.
C)  the benefits of using a product can be communicated to target customers.
D)  ​a product can be tried on a limited basis.E) C) and D)
F) A) and B)

Exam 11: Developing and Managing Products

Many new product ideas are necessary to produce one successful new product.

Correct Answer
verified
True

In the context of the product life cycle,a long-run drop in a product's sales signals the beginning of the _____.

Correct Answer
verified

Which of the following is the most important factor in successful new-product introduction?

Correct Answer
verified

Roger,an affluent graduate,buys gadgets on the first day of their launch in the market.He reads expert reviews on the Internet,and he is not influenced by the opinions of his family and friends while choosing products.Roger would fall under the category of _____ in the diffusion process.

Correct Answer
verified

Concept tests are used at the screening stage to rate concept or product alternatives.

Correct Answer
verified

Which of the following statements best describes simultaneous product development?

Correct Answer
verified
C

Marketing costs are high in the introductory stage of the product life cycle because:

Correct Answer
verified

Identify a true statement about the maturity stage of the product life cycle (PLC) .

Correct Answer
verified

In the early stage of development,the research and development or engineering department may develop a prototype of the product.

Correct Answer
verified

In the context of the new-product development process,the decision to market a product is made during _____.

Correct Answer
verified

The objective of test marketing is:

Correct Answer
verified

The growth stage of the product life cycle represents the full-scale launch of a new product into the marketplace.

Correct Answer
verified

Correct Answer
verified

A firm that starts with a global strategy is better able to develop products that are marketable worldwide.

Correct Answer
verified

Fresnas Inc.manufactures and sells electronic equipment.The research and development team has generated ideas for new products,and the ideas pass through the screening stage.In this case,the goal of screening will be to:

Correct Answer
verified

Which of the following is an objective of focus group interviews?

Correct Answer
verified

How does a multinational corporation meet the needs of the global market?

Correct Answer
verified
Answers will vary.Increasing globalizati...
View Answer

Which of the following statements is true of opinion leaders?

Correct Answer
verified
B

How is the Internet important for implementing simultaneous product development?

Correct Answer
verified
Answers will vary.The Internet is a usef...
View Answer

In the context of the rate of adoption,relative advantage is defined as the degree to which:

Correct Answer
verified

Exam 11: Developing and Managing Products

Many new product ideas are necessary to produce one successful new product.

Correct AnswerverifiedTrue

In the context of the product life cycle,a long-run drop in a product's sales signals the beginning of the _____.

Correct AnswerverifiedShow Answer

Which of the following is the most important factor in successful new-product introduction?

Correct AnswerverifiedShow Answer

Roger,an affluent graduate,buys gadgets on the first day of their launch in the market.He reads expert reviews on the Internet,and he is not influenced by the opinions of his family and friends while choosing products.Roger would fall under the category of _____ in the diffusion process.

Correct AnswerverifiedShow Answer

Concept tests are used at the screening stage to rate concept or product alternatives.

Correct AnswerverifiedShow Answer

Which of the following statements best describes simultaneous product development?

Correct AnswerverifiedC

Marketing costs are high in the introductory stage of the product life cycle because:

Correct AnswerverifiedShow Answer

Identify a true statement about the maturity stage of the product life cycle (PLC) .

Correct AnswerverifiedShow Answer

In the early stage of development,the research and development or engineering department may develop a prototype of the product.

Correct AnswerverifiedShow Answer

In the context of the new-product development process,the decision to market a product is made during _____.

Correct AnswerverifiedShow Answer

The objective of test marketing is:

Correct AnswerverifiedShow Answer

The growth stage of the product life cycle represents the full-scale launch of a new product into the marketplace.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A firm that starts with a global strategy is better able to develop products that are marketable worldwide.

Correct AnswerverifiedShow Answer

Fresnas Inc.manufactures and sells electronic equipment.The research and development team has generated ideas for new products,and the ideas pass through the screening stage.In this case,the goal of screening will be to:

Correct AnswerverifiedShow Answer

Which of the following is an objective of focus group interviews?

Correct AnswerverifiedShow Answer

How does a multinational corporation meet the needs of the global market?

Correct AnswerverifiedAnswers will vary.Increasing globalizati...View AnswerShow Answer

Which of the following statements is true of opinion leaders?

Correct AnswerverifiedB

How is the Internet important for implementing simultaneous product development?

Correct AnswerverifiedAnswers will vary.The Internet is a usef...View AnswerShow Answer

In the context of the rate of adoption,relative advantage is defined as the degree to which:

Correct AnswerverifiedShow Answer

Correct Answer
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True

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C

Correct Answer
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Answers will vary.Increasing globalizati...
View Answer

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B

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Answers will vary.The Internet is a usef...
View Answer

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