CHAPTER 2 quiz

What is R&D?

• •Investigating activities that leads to the discovery of new technology (research)

• 4 phases

• •Speed and frequency of bringing new products on-line

Why R&D is important?

• •The utilization of resources: nature, forces, energy, material, knowledge.

• •Each product has a life cycle

  •Customers constantly demand better products and services

  •Helps improve the standard of living in the nation

  •Helps increase market share and profitability

  •Advance the technical capability in product design

  •Helps organization to respond effectively to the global market

• •Has served as an advocate for licensed professional engineers across the nation and assists them in upholding the duty of protecting the health, safety, and welfare of the public. 

• An exercise in optimizing economic cost. 

List all the objectives of R&D in Organizations

According to The National Science Foundation there are three different types of R&D?

What is the product life cycle?

• The cycle of how many times a product is copied in the market

• The entire existence of a product from its origins to its death

• The estimation of how long it will take a product to falter in the market

• The length of time it takes for a product to enter the market

Which stage of the product life cycle is represented by a concentrated effort on promotional activities?

What is market saturation?

Determine the Benefits of Product Life Cycle

What phase of the product life cycle is the most difficult and explain why?

How do you measure product life cycle?