Acquisition refers to ________.

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

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

Which of the following is a common reason for new product failure?

A particular firm added three new products earlier this year to increase variety for customers. Two of the products failed to reach the minimal sales quota. Which of the following is LEAST likely to have been the cause of their failure?

The product life cycle presents challenges. Which of the following is LEAST likely to require a company to adapt its marketing strategies?

A firm can obtain new products through 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.

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

New product development starts with ________.

John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new product development process does this exemplify?

Which of the following is an internal source for new product ideas?

Many companies have developed ________ programs that encourage employees to develop new product ideas.

Why are customers often considered the most important sources of new product ideas?

Which of the following is an external source for ideas?

Who can pass along information about new concepts or techniques to use in new products?

Which of the following is the practice of inviting broad communities of customers, employees, independent researchers, and members of the public into the new product innovation process?

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

In the new product development process, the first idea-reducing stage is ________.

Executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the ________ stage.

Which of the following would most likely be included in an executive's write up of a new product idea to be presented to a new product committee?

Which of the following is NOT likely to be a question asked in the new product screening process?

Which of the following statements best explains why idea screening may be the most important step of new product development?

A product idea is ________.

A detailed version of a new idea stated in meaningful customer terms is called a product ________.

An attractive product idea must be developed into a ________.

A ________ is the way consumers perceive an actual or potential product.

JoAnn Fabrics Inc. has created a new combination of colors and fabric types. The firm wants to know how consumers will perceive the new product. The firm is concerned with the product ________.

Which of the following groups do marketers involve for the process of concept testing new products?

For concept test, companies will frequently present customers with ________ of the concept for a reliable concept test

Which of the following stages in the new product development would a firm engage in immediately after the completion of concept testing?

What is included in the first part of a marketing strategy statement?

Which of the following is included in the second part of the marketing strategy statement?

Which of the following is included in the third part of the marketing strategy statement?

A review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company's objectives is called a ________.

Which stage of new product development requires management to estimate minimum and maximum sales to assess the range of risk in launching a new product?

Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new product development process.

Which of the following statements is true of the new product development process?

Neutron Inc. is conducting a business analysis to determine which of the many newly developed apps should be released. To estimate sales, the company must ________.

Which figures does the company use to analyze the new product's financial attractiveness?

Which of the following stages of the new product development process occurs immediately after the completion of the business analysis for the product or service?

The product development stage requires ________.

In the ________ stage of the new product development process, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them

A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way to approach this problem proactively. They came up with an idea for a pair of blurry goggles. They believed looking through the goggles would simulate what the world looks like when someone is seriously intoxicated. They developed a crude pair of blurry goggles to show prospective customers. This crude pair of goggles is known as a ________.

Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes product tests, the next step is ________.

In a ________, new products and marketing tactics are tested online in a virtual shopping environment.

Starbucks introduced a less-than-perfect mobile payments app, then worked out the flaws after the launch. The company chose speed to market over a perfect app at introduction. This illustrates ________.

Yummy Peanut Butter created a new coconut-flavored peanut butter that it tested in a small number of representative cities. The company plans to use the results to forecast national sales and profits. Which of the following did the firm use?

In a(n) ________, consumers interact with new products and marketing tactics in laboratory stores or virtual online shopping environments.

In a(n) ________, new products and marketing tactics are tested among specifically identified groups of customers and stores.

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

Which of the following is the most likely circumstance for a company to decide to do little or no test marketing?

Which of the following statements is true of test marketing?

The major purpose of test marketing is to provide management with the information needed to make a final decision about ________.

Introducing a new product into the market is called ________.

P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. General Foods was able to enter the ________ stage of the new product development process before P&G could.

Which of the following involves costs that most likely occur during the commercialization stage of new product development?

A company getting ready to launch a new product must make several decisions. The company must first decide on ________.

According to the commercialization stage of the new product development process, following the decision to introduce the new product at a particular time, a company must next decide ________.

Steelz Inc. has designed a process that manufactures an improved version of steel more efficiently, which will save the firm both money and resources. In considering the launch of this new steel in the market, the firm must first decide on ________.

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

Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be management's next step?

________ is a new product development approach in which one company department works to complete its stage of the process before passing the new product along to the next department and stage.

Under a team-based new product development approach, ________.

At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance work in cross-functional groups to save time and money in the new product development process. Fantastic Flavors uses a ________ approach.

Which of the following is the goal of the team-based new product development approach when it uses cross-functional teams that overlap the steps in the process?

Which of the following is a disadvantage of a team-based approach to new product development?

According to the text, the search for new product ideas should most likely be ________.

A company can install a(n) ________ management system to collect, review, evaluate, and manage new product ideas.

The innovation management system approach yields two favorable outcomes: it helps create an innovation-oriented company culture, and it ________.

New product success requires all of the following EXCEPT ________.

Evelyn's ________ is the practical use of solar power in a vacuum cleaner that is designed to effortlessly vacuum clean the floors of on-the-go and elderly consumers.

Which of the following stages of new product development was Evelyn involved in when she set up a demonstration booth to learn about consumers' feelings toward her vacuum cleaner?

New product development begins with a systematic search for new product ideas through idea generation.

Companies seldom solicit ideas from customers during the idea generation stage of product development.

A product idea is an idea for a possible product that a company can offer the market.

Blair Housewares wants to add new products to its existing line of products. Managers are correct in believing that the purpose of idea generation is to create a few ideas, and the purpose of succeeding stages is to increase that number.

In the concept development stage, a firm will create a single product concept to test.

Concept testing works best with people who are familiar with the new idea and the new product's purpose. This generally includes top management, the sales force, and research and development.

GreenTree Lawn and Garden Products is engaged in marketing strategy development. The first part of the marketing strategy statement created by management should outline the product's planned price, distribution, and marketing budget for the first year

The business analysis stage represents the first large jump in financial investment in the new product development process.

GreenTree Lawn and Garden Products is engaged in a review of the sales, costs, and profit projections for some new products to find out whether they satisfy the company's objectives. This activity is called business product development.

Marketers often involve actual customers in product testing.

A company introducing a product that is similar to its competitors' product will do a complete test market to gain maximum information before product introduction.

A company launching a new product into the market must first decide where to launch the product.

JumBo Games is in the commercialization stage. The first decision that the firm should make while introducing the product in the market is introduction timing.

Sequential product development has the advantage of not only being a team-oriented approach, but also of being faster in bringing products to market.

To avoid too few new product ideas and the failure of many good ideas, management should implement an innovation management system that collects, reviews, evaluates, and manages new product ideas.

Which of the following refers to the course that a product's sales and profits take over its lifetime?

Which of the following best characterizes the decline stage of product development?

Which of the following statements characterizes the introduction stage of the PLC?

Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits?

________ is the product life cycle period when sales fall off and profits drop.

________ is the product life cycle period when sales growth slows because the product has achieved acceptance. Profits level off because marketing costs increase in the face of competition.

Some products that have entered the decline stage have been cycled back to the growth stage through ________.

What causes a specific brand's life cycle to change quickly?

A style is best defined as a ________.

The more formal "business attire" look of corporate dress of the 1980s and 1990s gave way to the "business casual" look of the 2000s and 2010s. This is an example of a ________.

Apple's iPod has been called "one of the greatest consumer electronics hits of all time." iPods have been sold in huge numbers, and Apple captures a large share of the music player market. This success has attracted many large, resourceful competitors. The iPod is in the ________ stage of the product life cycle.

Flurrbies, a brand of unique winter accessories that quickly fell in and out of favor with customers, is an example of a ________.

The PLC concept can be applied by marketers as a useful framework for describing how ________.

According to the PLC, the ________ stage is reached when sales plunge to zero, or when they drop to a low level where they continue for many years.

Which of the following stages of the PLC is characterized with high promotional expenditures that result from an effort to create consumer awareness?

A(n) ________ chooses a strategy consistent with the intended product positioning. To gain market leadership requires correct decisions from the beginning.

Which of the following stages of the PLC is characterized with the same level or slightly higher level of promotional expenditures in an attempt to respond to increasing competition?

Kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. After the cereal begins to appear in these new markets, the company increases its promotion expenditure to counteract competitive responses. Kellogg's is in the ________ stage of the product life cycle.

Big Moose Toys is a market pioneer introducing a modern version of Bubble the Moose, a character from an animated television series originally broadcast in the '50s and '60s. The company's version of Sandy the Flying Squirrel, a character from the show targeted to baby boomers, was a strong success. Since the firm is a market pioneer, it needs to make the new launch strategy for Bubble the Moose consistent with the intended ________.

Which stage in the PLC normally lasts longest and poses strong challenges to marketing managers?

At which stage in the PLC do profits increase as promotion costs are spread over a large volume, and as the firm enters new market segments?

Which of the following would lead to greater competition in the maturity stage of the PLC?

Most products in the marketplace are in the ________ stage of the product life cycle.

Over the past few years, Binney and Smith's Crayola crayons has expanded to more than 80 countries around the world. Crayola crayons are in the ________ stage of the PLC.

When a product is in the maturity stage, the company should most likely consider ________.

When Heinz introduced EZ Squirt packaging and new colors such as Blastin' Green and Awesome Orange to revitalize consumer buying, the company was modifying the ________.

P&G has sold off a number of lesser or declining brands such as Folgers coffee and Cover Girl cosmetics. In these examples, management decided to ________ the products.

Due to dropping sales, a company that manufactures soaps begins to sell them to restaurants and hotels to extend their product's life. The soap manufacturer is in the ________ stage of PLC.

When Kraft focused on cost cutting with its older, established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products.

Evelyn's vacuum is at the ________ stage of the product life cycle.

Using the PLC concept to develop marketing strategy can be problematic because strategy is both a cause and a result of the product's life cycle.

Most successful products are immediately accepted, and quickly move to the growth stage of the PLC.

Profits drop during the growth stage of the PLC because per customer promotion costs are high.

Although products that remain in the maturity stage of the PLC seem unchanged, the most successful ones actually evolve to meet changing consumer needs.

When sales of a product drop during the decline stage of the PLC, a company typically modifies the marketing mix, the product, or the market.

Sales of products decline because of technological advances, shifts in consumer tastes, and increased competition.

Harvesting the product involves reducing various costs such as maintenance, R&D, and advertising to increase profits.

The distribution strategy during the decline stage of PLC involves building more intensive distribution networks.

Manufacturers must comply with specific laws regarding ________.

Because of ________, a company cannot make its product illegally similar to a competitor's already established product.

CellTones, a new company selling several types of cellular phones, has closely modeled its products after successful products that are already in the marketplace. As it prepares to enter the market with its new products and services, which of the following should concern CellTones the most?

Which of the following best describes the role of a product steward?

Which of the following is a consequence of standardizing an international product?

The federal government may prevent a company from adding products through acquisitions if acquisition threatens to lessen competition.

As long as a product is not identical to a competitor's product offering, a company can introduce, market and sell it without penalty.

The international growth of many professional and business services such as accounting, consulting, and advertising led to the globalization of the client companies they served.