WorksheetsMKT101 ch9
Total questions: 25
Worksheet time: 6mins
What are the two ways that a company can obtain new products?
line extension and brand management
internal development and brand management
new-product development and acquisition
service development and product extension
market mix modification and research and development
Product improvements, product modifications, and original products can all be classified as
pioneer products
product concepts
product ideas
new products
test products
Which of the following is NOT a potential reason for a new product to fail?
an underestimated market size
a poorly designed product
an incorrectly positioned product
higher than anticipated costs of product development
ineffective advertising
Which of the following is NOT a challenge presented by the product life cycle that a firm must face?
All products eventually decline.
Changing tastes, technologies, and competition affect the marketing of the product as it passes through lifecycle stages
A firm must be good at developing new products to replace aging ones.
A firm must be good at adapting its marketing strategies.
It is difficult to plot the stages as a product goes through them.
The creation of a successful new product depends on a company's understanding of its ________ and its ability to deliver ________ to customers.
competitors, distributors, and employees; new styles
customers, brands, products; product images
customers, competitors, and markets; superior value
product, marketing mix, and marketing strategy; functional features
product life cycle, legal responsibilities, and social responsibilities; innovations
New product development starts with
idea generation
idea screening
concept development
concept testing
test marketing
Executives, manufacturing employees, and salespeople are all examples of ________.
external sources for new-product ideas
internal sources for new-product ideas
core members of innovation management systems
research and development team members
new-product committee members
Your company decides to use internal sources for developing new product ideas. Which of the following would NOT be consulted?
executives and professionals
company records and data
intrapreneurial programs
suppliers
salespeople
Which of the following is perhaps the most important external source of new-product ideas?
engineers
customers
competitors
trade magazines, shows, and seminars
distributors and suppliers
Which of the following is NOT a recommended method for companies to tap into their customers as sources for new-product ideas?
analyzing customer complaints and questions
relying heavily on customers to know what types of technical products they need
working alongside customers to get ideas and suggestions
turning customers into co-creators
putting customer-created products on the market
Your firm asks you to consult external sources for new product ideas. All of the following are common external sources EXCEPT ________.
customers
suppliers
competitors
trade shows and magazines
the firm's executives
The purpose of idea generation is to create a ________ number of ideas. The purpose of succeeding stages is to ________ that number.
small number; reduce
small number; increase
large number; increase
large number; reduce
limited number; sustain
GrayBerry Gifts has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage, called ________, to arrive at a realistic number to adopt.
business analysis
idea generation
concept testing
idea screening
concept development
In the concept testing stage of new-product development, a product concept in ________ form is presented to groups of target consumers.
physical or symbolic
prototype
final
market-tested
commercial
After concept testing, a firm would engage in which stage in developing and marketing a new product?
idea screening
marketing strategy development
business analysis
product development
test marketing
The second part of the marketing strategy statement outlines the product's planned price, distribution, and ________ for the first year.
advertising
promotion
marketing budget
positioning
target market
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 ________.
business feasibility plan
marketing strategy development
business analysis
product acceptance
proposal
During which stage of new-product development will management most likely estimate minimum and maximum sales to assess the range of risk in launching a new product?
test marketing
concept testing
marketing strategy development
business analysis
product development
Under what circumstances might it be wise for a company to do little or no test marketing?
when a new product requires a major investment
when management is not sure of the product
when management is not sure of the marketing program
when the product has no substitutes and is new in its category
when the costs of developing and introducing the product are low
A company getting ready to launch a new product must make several decisions. The company must first decide on
whether to launch the product in a single location
whether to launch the product in a region
whether to launch the product into full national distribution
when to time the new product introduction
when to develop a planned market rollout
The innovation management system approach yields two favorable outcomes: it helps create an innovation-oriented company culture, and it ________.
clearly assigns responsibility for the process
yields a larger number of new-product ideas
guarantees successful products
frees up senior management time
requires less budget support
________ is the product life cycle period when sales fall off and profits drop.
Introduction
Growth
Maturity
Decline
Development
All of the following are stages in the PLC EXCEPT ________.
introduction
adoption
growth
maturity
decline
Which stage of the typical consumer product life cycle is out of order below?
product development
introduction
maturity
growth
decline
Using the PLC concept to develop marketing strategy can be difficult because strategy is both a ________ and a(n) ________ of the product's life cycle.
mirror image; cause
cause; result
result; mirror image
beginning; end
purpose; effect
