marketing topic 7 part 2

What is the importance of developing new products?

• To sustain growth and increase revenues

• To increase profits

• To replace obsolete items

• All of the above

Which of the following is not a category of new products?

• New-to-the-world products

• New-product lines

• Obsolete products

• Lower-priced products

What is the first filter in the product development process that eliminates ideas inconsistent with the organization's new-product strategy?

• Idea generation

• Idea screening

• Business analysis

• Development

What is the second stage of the screening process where preliminary figures for demand, cost, sales, and profitability are calculated?

• Development

• Business analysis

• Idea screening

• Idea generation

What is the stage in the product development process in which a prototype is developed and a marketing strategy is outlined?

• Idea generation

• Idea screening

• Development

• Business analysis

What is the limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation?

• Simulated market testing

• Commercialization

• Product modification

• Test marketing

What are the main players in the diffusion process of new products?

• Early adopters, early majority, late majority, laggards, skeptics

• Trendsetters, enthusiasts, followers, skeptics, traditionalists

• Pioneers, followers, latecomers, skeptics, traditionalists

• Innovators, early adopters, early majority, late majority, laggards

Which product characteristic refers to the degree to which the new product is consistent with existing values and product knowledge, past experiences, and current needs?

• Complexity

• Compatibility

• Relative advantage

• Observability

What is the concept that provides a way to trace the stages of a product's acceptance, from its introduction to its decline?

• Product Life Cycle

• Product Adoption Model

• Product Development Process

• Product Growth Model

What is the period during which sales increase at a slower rate and product lines are lengthened to appeal to additional market segments?

• Growth stage

• Maturity stage

• Decline stage

• Introductory stage