Marketing Management - New Product Development

In which stage of New product development it is decided whether the product idea compatible with company objectives, strategies, and resources?

• Idea screening

• Concept development and testing

• Idea generation

• Product development

A detailed version of the new product idea started in meaningful consumer form is known as

___________________.

• Idea Generation

• Product Concept

• Concept testing

• Strategy Development

In which stage of New product development Management needs to prepare sales, cost, and profit projections to determine whether they satisfy company objectives?

• Idea screening

• Concept development and testing

• Business Analysis

• Product development

In which testing the company with the new product specifies the number of stores and geographic locations it wants to test?

• Controlled Test Marketing

• Test Markets

• Simulated Test Marketing

• Sales-Wave Research

In which testing thirty to 40 qualified shoppers are asked about brand familiarity and preferences in a specific product category and attend a brief screening of both well-known and new TV or print ads?

• Controlled Test Marketing

• Test Markets

• Simulated Test Marketing

• Sales-Wave Research

___________ process refers to original products, product improvements, product modifications, and new brands developed from the firm’s own research and development capabilities.

• New Product Development

• Acquisition

• Market Share Development

• Market Segmentation

Inviting broad communities of people, customers, employees, independent scientists and researchers and even the public at large into the new product innovation process is known as

___________________________.

• Crowd Funding

• Crowdsourcing

• Venture Capital

• Brainstorming