Question 1

The last stage of the new product development process is:

Accepted Answer

A)   market strategy development.
B)   product development.
C)   business analysis.
D)   test marketing.
E)   commercialisation.F) A) and E)
G) B) and E)

Question 2

The majority of all products sold today are in ________stage of the product life cycle.

Accepted Answer

A)   introduction
B)   growth
C)   maturity
D)   decline
E)   demiseF) A) and C)
G) C) and D)

Question 3

According to your text, the most important source of new product ideas is which of the following?

Accepted Answer

A)   seminars and exhibitions
B)   market research consultancies
C)   crowdsourcing
D)   customers
E)   commercial laboratories and inventorsF) All of the above
G) A) and B)

Question 4

The stage of the product adoption process in which consumers sample the product on a limited scale to improve their understanding of product value is known as:

Accepted Answer

A)   awareness.
B)   interest.
C)   evaluation.
D)   trial.
E)   adoption.F) C) and D)
G) A) and C)

Question 5

A test market in which researchers measure consumer responses to new products and marketing tactics in laboratory stores or simulated shopping environments is known as:

Accepted Answer

A)   standard test marketing.
B)   simulated test markets.
C)   geographic environment.
D)   experimental environment.
E)   consumer panels.F) B) and C)
G) All of the above

Question 6

In attempting to estimate the likely sales and costs of several potential new products, a firm engages in business analysis.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is NOT one of the stages in the new product development process?

Accepted Answer

A)   concept development
B)   new product launch
C)   product development
D)   idea generation and screening
E)   business analysis and marketing strategy developmentF) C) and D)
G) B) and D)

Question 8

New product should undergo testing is to ensure that they:

Accepted Answer

A)   perform efficiently.
B)   deliver customer value.
C)   perform safely.
D)   all of the above
E)   none of the aboveF) C) and D)
G) A) and B)

Question 9

The stage of the product life cycle that typically lasts longer and poses more marketing challenges is:

Accepted Answer

A)   introduction.
B)   growth.
C)   maturity.
D)   decline.
E)   demise.F) B) and E)
G) A) and D)

Question 10

As Williams Skincare company continued with the task of developing a new product, a spray- on hair removal cream, a group was assigned the task of estimating preliminary demand for the product, costs, sales and future profitability. The company is MOST likely in which stage of the new product development process?

Accepted Answer

A)   commercialisation
B)   test marketing
C)   idea screening
D)   concept development
E)   business analysisF) C) and E)
G) A) and E) E

Question 11

Identify and briefly characterise the five stages of the product life cycle (PLC).

Accepted Answer

(a) Product development—begins when the company finds and develops a new product idea. During product development, sales are zero and the company's investment costs mount.
(b)	Introduction—a period of slow sales growth as the product is introduced in the market. Profits are non- existent in this stage because of the heavy expenses of product introduction.
(c)	Growth—a period of rapid market acceptance and increasing profits.
(d)	Maturity—a period of slowdown in sales growth because the product has achieved acceptance by most potential buyers. Profits level off or decline because of increased marketing outlays to defend the product against competition.
(e)	Decline—the period when sales fall off and profits drop.

Question 12

The Kappa Corporation is preparing to roll out a new product and is currently deciding whether it should enter the market at the same time it knows a competitor's new product is coming out. The firm is in which stage of the new product development process?

Accepted Answer

A)   test marketing
B)   market strategy development
C)   product development
D)   business analysis
E)   commercialisationF) A) and D)
G) A) and E)

Question 13

An industrial marketer produces a limited supply of new products and asks the sales team to sell it in a limited number of geographic markets. This type of test marketing is known as a:

Accepted Answer

A)   controlled test market.
B)   product- use test.
C)   trade show test.
D)   dealer display.E) B) and C)
F) None of the above

Question 14

The adopter category that is most suspicious of new product ideas is:

Accepted Answer

A)   innovators.
B)   early adopters.
C)   laggards.
D)   early majority.
E)   late majority.F) B) and C)
G) All of the above

Question 15

A marketer wanting to test a business product is likely to use which of the following test market methods?

Accepted Answer

A)   New products displayed in distributor and dealer display rooms where the marketer can observe how customers respond to both the new product and competitors' products.
B)   A controlled test market in which a limited supply of new products is produced and sold in defined geographic areas.
C)   A product- use test in which a select group of potential customers agree to use the new product for a limited time.
D)   Marketer observes and assesses buyer interest by presenting the new product at a trade show.
E)   all of the aboveF) A) and E)
G) A) and B)

Question 16

The yo- yo is a product that makes a rapid market appearance, quickly becomes a "must- have" accessory for many young people, disappears from the market with almost the same speed that it appeared and then seems to lie dormant for a decade or more before a new incarnation of the yo- yo appears and the cycle repeats. The yo- yo is a great example of a:

Accepted Answer

A)   fashion.
B)   style.
C)   mode.
D)   fad.
E)   genre.F) A) and B)
G) B) and D) D

Question 17

Management at Greville Street Lingerie Company considered making embroidered pillow slip covers, but then decided slip covers were not within the company's corporate mission. Which stage of the new product development process did they reach?

Accepted Answer

A)   idea generation
B)   concept testing
C)   concept development
D)   idea screening
E)   business analysisF) D) and E)
G) C) and D)

Question 18

Standard test markets allow marketers to evaluate the success potential of new products in realistic market situations while "hiding" their activities from competitors.

Accepted Answer

A) True 
 B)False

Question 19

A particular type of consumer that has been found to be critical in the successful adoption of new products is known as:

Accepted Answer

A)   early adopter.
B)   opinion leader.
C)   influencer.
D)   lead user.
E)   all of the aboveF) B) and D)
G) C) and D)

Question 20

The stage of the product life cycle where a company is MOST likely to consider modifying its product is:

Accepted Answer

A)   introduction.
B)   growth.
C)   maturity.
D)   decline.
E)   demise.F) B) and E)
G) C) and D)

Exam 11: New Products

The last stage of the new product development process is:

Correct Answer
verified

The majority of all products sold today are in ________stage of the product life cycle.

Correct Answer
verified

According to your text, the most important source of new product ideas is which of the following?

Correct Answer
verified

The stage of the product adoption process in which consumers sample the product on a limited scale to improve their understanding of product value is known as:

Correct Answer
verified

A test market in which researchers measure consumer responses to new products and marketing tactics in laboratory stores or simulated shopping environments is known as:

Correct Answer
verified

In attempting to estimate the likely sales and costs of several potential new products, a firm engages in business analysis.

Correct Answer
verified

Which of the following is NOT one of the stages in the new product development process?

Correct Answer
verified

New product should undergo testing is to ensure that they:

Correct Answer
verified

The stage of the product life cycle that typically lasts longer and poses more marketing challenges is:

Correct Answer
verified

Correct Answer
verified
E

Identify and briefly characterise the five stages of the product life cycle (PLC).

The Kappa Corporation is preparing to roll out a new product and is currently deciding whether it should enter the market at the same time it knows a competitor's new product is coming out. The firm is in which stage of the new product development process?

Correct Answer
verified

An industrial marketer produces a limited supply of new products and asks the sales team to sell it in a limited number of geographic markets. This type of test marketing is known as a:

Correct Answer
verified

The adopter category that is most suspicious of new product ideas is:

Correct Answer
verified

A marketer wanting to test a business product is likely to use which of the following test market methods?

Correct Answer
verified

Correct Answer
verified
D

Management at Greville Street Lingerie Company considered making embroidered pillow slip covers, but then decided slip covers were not within the company's corporate mission. Which stage of the new product development process did they reach?

Correct Answer
verified

Standard test markets allow marketers to evaluate the success potential of new products in realistic market situations while "hiding" their activities from competitors.

Correct Answer
verified

A particular type of consumer that has been found to be critical in the successful adoption of new products is known as:

Correct Answer
verified

The stage of the product life cycle where a company is MOST likely to consider modifying its product is:

Correct Answer
verified

Exam 11: New Products

The last stage of the new product development process is:

Correct AnswerverifiedShow Answer

The majority of all products sold today are in ________stage of the product life cycle.

Correct AnswerverifiedShow Answer

According to your text, the most important source of new product ideas is which of the following?

Correct AnswerverifiedShow Answer

The stage of the product adoption process in which consumers sample the product on a limited scale to improve their understanding of product value is known as:

Correct AnswerverifiedShow Answer

A test market in which researchers measure consumer responses to new products and marketing tactics in laboratory stores or simulated shopping environments is known as:

Correct AnswerverifiedShow Answer

In attempting to estimate the likely sales and costs of several potential new products, a firm engages in business analysis.

Correct AnswerverifiedShow Answer

Which of the following is NOT one of the stages in the new product development process?

Correct AnswerverifiedShow Answer

New product should undergo testing is to ensure that they:

Correct AnswerverifiedShow Answer

The stage of the product life cycle that typically lasts longer and poses more marketing challenges is:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedE

Identify and briefly characterise the five stages of the product life cycle (PLC).

The Kappa Corporation is preparing to roll out a new product and is currently deciding whether it should enter the market at the same time it knows a competitor's new product is coming out. The firm is in which stage of the new product development process?

Correct AnswerverifiedShow Answer

An industrial marketer produces a limited supply of new products and asks the sales team to sell it in a limited number of geographic markets. This type of test marketing is known as a:

Correct AnswerverifiedShow Answer

The adopter category that is most suspicious of new product ideas is:

Correct AnswerverifiedShow Answer

A marketer wanting to test a business product is likely to use which of the following test market methods?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedD

Management at Greville Street Lingerie Company considered making embroidered pillow slip covers, but then decided slip covers were not within the company's corporate mission. Which stage of the new product development process did they reach?

Correct AnswerverifiedShow Answer

Standard test markets allow marketers to evaluate the success potential of new products in realistic market situations while "hiding" their activities from competitors.

Correct AnswerverifiedShow Answer

A particular type of consumer that has been found to be critical in the successful adoption of new products is known as:

Correct AnswerverifiedShow Answer

The stage of the product life cycle where a company is MOST likely to consider modifying its product is:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
E

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
D

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified