Chapter 9 New-Product Development and Product Life-Cycle Strategies
1) What are the two ways that a company can obtain new products?
A) line extension and brand management
B) internal development and brand management
C) new-product development and acquisition
D) service development and product extension
E) market mix modification and research and development
Answer: C
Diff:
2Page Ref: 258
Skill: Concept
Objective: 9-1
2) Product improvements, product modifications, and original products can all be classified as
________.
A) pioneer products
B) new products
C) product concepts
D) product ideas
E) test products
Answer: B
Diff: 1Page Ref: 258
Skill: Concept
Objective: 9-1
3) Which of the following is NOT a potential reason for a
new product to fail?
A) an underestimated market size
B) a poorly designed product
C) an incorrectly positioned product
D) higher than anticipated costs of product development
E) ineffective advertising
Answer: A
Diff: 2Page Ref: 258
Skill: Concept
Objective: 9-1
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0 Exact answers 0 Text answers 36 Multiple-choice answers
What are the two ways that a company can obtain new products?
new-product development and acquisition
market mix modification and research and development
internal development and merger
service development and product extension
line extension and brand management
Which of the following is
not
a potential cause of the failure of a new product?
an underestimated market size
higher than anticipated costs of product development
ineffective advertising
a poorly designed product
an incorrectly positioned product
The creation of a successful new product depends on a company's understanding of its ________ and its ability to deliver ________ to customers.
product life cycle, legal responsibilities, and social responsibilities; innovations
competitors, distributors, and employees; new styles
product, marketing
mix, and marketing strategy; functional features
customers, brands, products; product images
customers, competitors, and markets; superior value
Executives, manufacturing employees, and salespeople are all examples of ________.
new-product committee members
core members of innovation management systems
research and development team members
external sources for new-product ideas
internal sources for new-product ideas
Which of the following is perhaps the most important external source of new-product ideas?
trade magazines, shows, and seminars
customers
competitors
engineers
distributors and suppliers
Your firm wants to use external sources for new product ideas. After consulting with a friend you learn that all of the following are common external sources
except
________.
the firm's executives
competitors
customers
trade shows and magazines
suppliers
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.
idea generation
idea screening
concept development
idea dissemination
product concept
A detailed version of a new idea stated in meaningful
customer terms is called a ________.
product idea
product image
product movement
product concept
product proposal
What are the external sources for new product ideas?
External Sources for Ideas and new Products.
1) Information from Customers..
2) Information from Distributor..
3) Competitor Analysis..
4) Exhibition..
5) Publications, Journal..
6) Universities, private Institutions..
7) Patents..
Which of the following are a major sources of new product ideas?
*Major sources of new product ideas include internal sources and external sources such as customers, competitors, distributors, and suppliers. A company can pick the brains of its own people - from executives to salespeople to scientists, engineers, and manufacturing staff.
Which one is the external source of generation of idea?
Sources of Idea Generation
Whereas, external sources are also very helpful. These are customers, suppliers, competitors, distribution channels, government, educational institutions, and focus groups.
What are two major sources of new product ideas quizlet?
Customers, competitors, and suppliers are major sources of new product ideas.
Where do companies get ideas for new products?
Firms seek product ideas from people inside the organization, including those in marketing, sales, research, and manufacturing, as well as from customers and others outside the organization.