Chapter 19 Review Bus. Mgmt

Which term refers to the production process where goods are produced based on customer specifications?

• Mass production

• Custom manufacturing

• Continuous production

• Intermittent processing

Which production type involves manufacturing products in large quantities without customization?

• Custom manufacturing

• Intermittent processing

• Mass customization

• Mass production

What is product development?

• The process of eliminating a product or service

• The process of marketing and selling a product or service

• The process of creating or improving a product or service

• The process of pricing a product or service

What characterizes pure research in product development?

• Research focused on consumer needs

• Research done with a specific product in mind

• Research done without a specific product in mind

• Research based on competitor analysis

What is the focus of applied research in product development?

• Developing entirely new theories

• Studying existing product problems or possible design improvements for current products

• Analyzing market trends for future predictions

• Creating advertisements for new products

What is the first step in developing a new product?

• Build and test models of the product.

• Develop an idea for a new product that customers want to buy.

• Purchase raw materials.

• Promote, distribute, and sell the product.

Which of the following is NOT a part of turning an idea into a workable product design?

• Conduct product research.

• Build and test models of the product.

• Purchase raw materials.

• Determine what resources will be needed to produce large quantities of the product.

What is the first step a business must take to offer new products to consumers?

• Analyze the market demand

• Develop an idea for a new product that consumers want

• Create a marketing strategy

• Conduct a feasibility study

What is the second step in the process of offering new products to consumers?

• Design a business plan

• Turn the idea into a workable product design

• Test the product with potential users

• Launch the product in a test market

What is the final step mentioned for a business to successfully offer new products to consumers?

• Ensure the product is profitable

• Be able to produce the product and make it available

• Receive regulatory approvals

• Gather customer feedback