Test BBC1043-B

Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of a(n) ________.

• Bankruptcy
• Liquidation
• Acquisition
• Merger

A firm can obtain new products through acquisition or new product development efforts.

• Merger or divestment strategies
• Outsourcing or offshoring initiatives
• Supply chain optimization or cost reduction measures
• Acquisition or new product development efforts

Acquisition involves the purchase of a whole company, a patent, or a license to produce someone else's product.

• Leasing a whole company
• Selling a whole company
• Purchase of a whole company, a patent, or a license to produce someone else's product.
• Manufacturing a whole company

Adapting marketing strategies is not a challenge faced in the product lifecycle.

• False
• Always easy
• Not applicable
• True

Which of the following statements is true of the idea generation stage in the new product development process?

• Idea generation involves finalizing product designs
• Idea generation is not necessary in the new product development process
• Idea generation is a quick and straightforward process
• Idea generation involves brainstorming and evaluating new product ideas.

All of the following are disadvantages of test marketing EXCEPT that test marketing ________.

• Test marketing is expensive
• None
• Test marketing is always accurate
• Test marketing is time-consuming

Which of the following statements is true of test marketing?

• Test marketing involves introducing a product to a limited market to gauge its potential success before a full launch.
• Test marketing is not useful in predicting consumer behavior.
• Test marketing is only done after a product has been fully launched.
• Test marketing involves introducing a product to all markets simultaneously.

Which of the following focuses on finding new ways to solve customer problems and create more customer-satisfying experiences?

• Conservation
• Innovation
• Tradition
• Revolution

Which of the following is a significant challenge presented by the product lifecycle?

• increased expenses

• increased competition

• new product development

• evaluation of results

• recognizing the stages as a product goes through them

Product improvements, product modifications, and original products can all be classified as ________.

• blueprints

• new products

• prototypes

• product extensions

• test products