Question 1

Generating insights leading to actions based on massive numbers of peoples' ideas is called __________.

Accepted Answer

Crowdsourcing involves gathering ideas or opinions from a large group of people, and then using that input to inform decision-making or problem-solving. It is often used in business, marketing, and product development contexts, among others. Braining storming and group think typically refer to more focused or structured forms of ideation, whereas outsourcing generally involves hiring an external company or individual to perform a task or service. Field sourcing is not a commonly used term in this context.

Question 2

FIGURE 10-7 
-Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "A" represents the __________ stage.

Accepted Answer

Cubicle "A" represents the new-product strategy development stage, which is the initial stage in the new-product development process where the company defines the role for a new product in terms of the firm's overall objectives.

Question 3

FIGURE 10-7 
-Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "G" represents the __________ stage.

Accepted Answer

Cubicle "G" represents the commercialization stage, which is the final stage in the new-product development process where the product is launched into the market.

Question 4

FIGURE 10-7 
-Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "E" represents the __________ stage.

Accepted Answer

Cubicle "E" represents the development stage, which is the stage where the product concept is turned into a physical product.

Question 5

Business researchers emphasize that firms must actively involve customers and suppliers in the new-product development process.This means the focus should be on what the new product will __________ rather than simply what they want.

Accepted Answer

Active involvement of customers and suppliers in the new-product development process means understanding what the new product will do for them, in terms of meeting their needs and solving their problems. It goes beyond just the physical appearance or cost of the product.

Question 6

Idea generation is the stage in the new product process that

Accepted Answer

Idea generation is the stage in the new product process that develops a pool of concepts as candidates for new-products screening and evaluation. This means that during this stage, the organization is focused on generating a wide range of ideas for potential new products. These ideas are typically gathered from various sources such as customer feedback, brainstorming sessions, market research, competitor analysis, and internal R&D efforts. The goal is to generate a large quantity of potential ideas that can be evaluated and narrowed down to a smaller set of viable concepts for further development.

Question 7

New-product strategy development refers to

Accepted Answer

New-product strategy development is the stage of the new-product process that defines the role for a new product in terms of the firm's overall objectives. It involves determining the target market, product positioning, and key benefits and features that will differentiate the product from competitors.

Question 8

FIGURE 10-7 
-Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "B" represents the __________ stage.

Accepted Answer

The answer of FIGURE 10-7 
-Figure 10-7 above represents the...

Question 9

Developing a pool of concepts as candidates for new-products is the __________ stage of the new-product process.

Accepted Answer

Idea generation is the stage where a pool of concepts is developed as candidates for new-products. During this stage, new product ideas are generated through various sources like brainstorming sessions, customer feedback, market research, and internal suggestion programs. It is the first stage of the new-product development process.

Question 10

FIGURE 10-7 
-Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "D" represents the __________ stage.

Accepted Answer

The answer of FIGURE 10-7 
-Figure 10-7 above represents the...

Question 11

The first stage in the new-product process is

Accepted Answer

The first stage in the new-product process is new-product strategy development, where a company defines its role for a new product in terms of the firm's overall objectives.

Question 12

The stage of the new-product process that involves developing a pool of concepts to serve as candidates for new-products is referred to as __________.

Accepted Answer

The stage referred to in the question is idea generation, which involves developing a pool of ideas or concepts for new products. The other options listed are different stages in the new-product process.

Question 13

Imagine you work for a production company that has been approached by one of the networks to develop a concept for a new reality show.These seem to be the years of the reality television shows-just like not too long ago there were several new shows modeled after Friends.Where are you and your co-workers most likely to look first for a concept?

Accepted Answer

Observing what's on television allows you to see current trends and successful formats, which can inspire new concepts.

Question 14

The stage of the new-product process that defines the role for a new product in terms of the firm's overall objectives is referred to as __________.

Accepted Answer

The stage referred to as "new-product strategy development" involves defining the role and objectives for a new product within the context of the firm's overall strategy and goals. This includes identifying target markets, positioning, and differentiation strategies. The other options do not accurately describe this stage of the process.

Question 15

FIGURE 10-7 
-Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "F" represents the __________ stage.

Accepted Answer

The answer of FIGURE 10-7 
-Figure 10-7 above represents the...

Question 16

Many forward-looking companies have discovered that their own organization is not generating enough useful new-product ideas.This has led to finding and executing creative new product ideas by developing strategic relationships with outside individuals and organizations referred to as __________.

Accepted Answer

Open innovation refers to the practice of using external sources as well as internal sources to generate and execute new product ideas. This approach allows companies to tap into a wider pool of expertise and resources that can contribute to their product development process. It involves working with partners such as customers, suppliers, universities, and startups to co-create products and services. Open innovation can lead to faster and more cost-effective innovation, as well as a higher likelihood of creating breakthrough products.

Question 17

Which stage in the new-product process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats?

Accepted Answer

In the new-product strategy development stage, a firm uses SWOT analysis and environmental scanning to assess its internal strengths and weaknesses and external opportunities and threats, which helps in aligning the new product with the company's strategic objectives.

Question 18

FIGURE 10-7 
-Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "C" represents the __________ stage.

Accepted Answer

Cubicle "C" represents the screening and evaluation stage of the new-product development process, where potential ideas are evaluated and selected based on their feasibility, market potential, and alignment with the company's overall strategy.

Question 19

During the first stage of the new-product process, two important activities take place.They are

Accepted Answer

The first stage of the new-product process is the new-product strategy development, which involves SWOT analysis and environmental scanning to assess the company's strengths, weaknesses, opportunities, and threats, and to understand the external environment.

Question 20

Idea generation refers to

Accepted Answer

Idea generation is the stage of the new-product process that develops a pool of concepts as candidates for new-products. It involves generating a large number of ideas, evaluating them and then selecting the most promising ones to move onto the next stage.

Quiz 10: Developing New Products and Services

Generating insights leading to actions based on massive numbers of peoples' ideas is called __________.

FIGURE 10-7 -Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "A" represents the __________ stage.

FIGURE 10-7 -Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "G" represents the __________ stage.

FIGURE 10-7 -Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "E" represents the __________ stage.

Business researchers emphasize that firms must actively involve customers and suppliers in the new-product development process.This means the focus should be on what the new product will __________ rather than simply what they want.

Idea generation is the stage in the new product process that

New-product strategy development refers to

FIGURE 10-7 -Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "B" represents the __________ stage.

Developing a pool of concepts as candidates for new-products is the __________ stage of the new-product process.

FIGURE 10-7 -Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "D" represents the __________ stage.

The first stage in the new-product process is

The stage of the new-product process that involves developing a pool of concepts to serve as candidates for new-products is referred to as __________.

The stage of the new-product process that defines the role for a new product in terms of the firm's overall objectives is referred to as __________.

FIGURE 10-7 -Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "F" represents the __________ stage.

Many forward-looking companies have discovered that their own organization is not generating enough useful new-product ideas.This has led to finding and executing creative new product ideas by developing strategic relationships with outside individuals and organizations referred to as __________.

Which stage in the new-product process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats?

FIGURE 10-7 -Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "C" represents the __________ stage.

During the first stage of the new-product process, two important activities take place.They are

Idea generation refers to