PRODUCT/SERVICE MANAGEMENT

Which step in the new-product development process involves seeking feedback from consumers in order to know what response they would give to a proposed product?

• Idea generation

• Product screening

• Concept testing

• Feasibility analysis

What is one question that a company needs to answer about a product that is in the introductory stage of its life cycle?

• Should we regionalize the product?

• Does the product need to be modernized?

• Should we take the product off the market?

• How can we make the public aware of our product?

Many businesses are using the technology developed by the space program to create

• advanced new products.

• marketing strategies.

• updated brand names.

• advertising techniques.

The Underwriters Laboratory seal on an electrical product indicates

• quality and safety backed by a testing organization.

• a guarantee by the manufacturer.

• the product can be returned.

• standard grades established by the federal government

A warranty that covers the entire product is known as a(n) __________ warranty.

• full

• limited

• express

• implied