Question 1

Figure 10-3
-Figure 10-3 above represents the seven stages of the new-product development process.Stage 4 is the __________ stage.

Accepted Answer

Stage 4 is the business analysis stage, where a detailed analysis of the potential profitability of the product is conducted through a thorough examination of production, costs, and potential revenue.

Question 2

Figure 10-3
-Figure 10-3 above represents the seven stages of the new-product development process.Stage 6 is the __________ stage.

Accepted Answer

The answer of  Figure 10-3
-Figure 10-3 above represents the...

Question 3

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

Accepted Answer

Idea generation is the stage in the new-product process that involves developing a pool of concepts as candidates for new products. This stage typically involves brainstorming, market research, and other methods to generate a wide range of potential product ideas.

Question 4

Figure 10-3
-Figure 10-3 above represents the seven stages of the new-product development process.Stage 3 is the __________ stage.

Accepted Answer

According to the figure, Stage 3 is "Screening and Evaluation," which involves evaluating new product ideas to determine which ones are worth pursuing further. Therefore, the best choice is B.

Question 5

reason new products fail is that although most major corporations use a formal decision making process,occasionally they will "skip" a stage of the new-product process,often with disastrous results.This is why many firms have a __________ to ensure that problems are corrected before proceeding to the next stage.

Accepted Answer

The term "gate" fits the context of the sentence as it refers to a stage in the new-product process where a decision is made about whether to proceed to the next stage or not. Many firms have gatekeeping mechanisms in place to ensure that any problems or issues are identified and resolved before moving forward with the new-product process. The other options, protocol, task force, barrier, and turnstile, do not accurately convey the meaning of the sentence.

Question 6

generation is the stage in the new-product process that

Accepted Answer

Generation is the stage in the new-product process where a pool of concepts is developed as candidates for new products.

Question 7

Which stage in the new-product process has as its purpose to identify the strategic role the new product might serve in the firm's overall objectives?

Accepted Answer

The new-product strategy development stage is where the strategic role of the new product is identified and aligned with the overall objectives of the firm. Idea generation is focused on generating ideas for new products, while screening and evaluation involves assessing the feasibility and potential of these ideas. Business analysis is concerned with analyzing the financial and market impact of the proposed new product. Development is where the actual product is created and tested.

Question 8

Volvo's YCC opens its doors with a press of a button on the car key,will parallel park the car with a self-steering system,and has customized seat covers that can be removed and washed.Many of these new product features were added because Volvo sought ideas from

Accepted Answer

Volvo sought ideas from women employees for the development of YCC (Your Concept Car). They conducted research to understand the needs and preferences of female drivers and incorporated the findings into the design of the car, including features like the easily removed and washable seat covers.

Question 9

first stage of the new-product process is

Accepted Answer

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

Question 10

Figure 10-3
-Figure 10-3 above represents the seven stages of the new-product development process.Stage 5 is the __________ stage.

Accepted Answer

The answer of  Figure 10-3
-Figure 10-3 above represents the...

Question 11

generation refers to

Accepted Answer

Generation refers to the stage of the new-product process that develops a pool of concepts as candidates for new-products. It involves generating ideas and concepts from various sources and selecting the most promising ones for further development.

Question 12

forward-looking companies have discovered that their own organization does not generate enough useful new-product ideas.This has caused them to find new product ideas by developing strategic relationships with outside individuals and organizations.This practice is referred to as __________.

Accepted Answer

Open innovation is the practice of involving external individuals and organizations in the innovation process to find new product ideas. It involves partnerships, collaborations, and sharing of ideas and knowledge to generate innovation. The other options are not accurate or commonly used terminology for this practice.

Question 13

New-product strategy development refers to

Accepted Answer

New-product strategy development is the stage of the new-product process that defines the strategic role for a new product in terms of the firm's overall objectives. This stage involves identifying target market segments, product positioning, and the marketing mix that will be used to support the product.

Question 14

of the following are sources for new product ideas EXCEPT:

Accepted Answer

Regulators are not typically a source for new product ideas. Competitors, universities, suppliers, and employees can all provide inspiration and insights for new product development.

Question 15

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

Accepted Answer

The answer of During the first stage of the new-product...

Question 16

Figure 10-3
-Figure 10-3 above represents the seven stages of the new-product development process.Stage 7 is the __________ stage.

Accepted Answer

Stage 7 is the commercialization stage, where the product is launched into the market and made available for purchase by consumers.

Question 17

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

Accepted Answer

The sentence emphasizes that the focus of involving customers and suppliers in new-product development should be on what the product will do for them, i.e., the benefits it will provide. The other options (e.g., look like, cost them, feel like, consist of in terms of new features) may also be important considerations, but they are not the primary focus of involving customers and suppliers in the new-product development process.

Question 18

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

Accepted Answer

The stage of the new-product process that defines the strategic role for a new product in terms of the firm's overall objectives is referred to as new-product strategy development. This involves identifying the target market, determining the product's position within that market, setting sales and profit goals, and defining the budget for the new product launch.

Question 19

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 evaluates its internal strengths and weaknesses through a SWOT analysis and assesses external opportunities and threats through environmental scanning. The goal is to develop a strategy that takes advantage of opportunities and minimizes threats while leveraging internal strengths and addressing weaknesses. Therefore, option C is the most appropriate answer.

Question 20

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 in the new-product process where a pool of concepts as candidates for new products is developed. The other stages include new-product strategy development, screening and evaluation, product development, and commercialization.

Quiz 10: Developing New Products and Services

Figure 10-3 -Figure 10-3 above represents the seven stages of the new-product development process.Stage 4 is the __________ stage.

Figure 10-3 -Figure 10-3 above represents the seven stages of the new-product development process.Stage 6 is the __________ stage.