Question 1

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?
concept testing
marketing strategy development
business analysis
product development
test marketing

Accepted Answer

The answer of During which stage of new-product development will...

Question 2

________ calls for testing new-product concepts with groups of target consumers.
Concept development
Concept testing
Idea generation
Idea screening
Test marketing

Accepted Answer

The answer of ________ calls for testing new-product concepts with...

Question 3

According to your text, 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

Accepted Answer

The answer of According to your text, which of the...

Question 4

An attractive idea must be developed into a ________.
product idea
product concept
product image
test market
product strategy

Accepted Answer

The answer of An attractive idea must be developed into...

Question 5

The purpose of idea generation is to create a ________ 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

Accepted Answer

The answer of The purpose of idea generation is to...

Question 6

According to the authors, the marketing strategy for a new product typically includes all of the following except ___________.
identification of the target market
positioning of the new product relative to competing products
promotions and advertising expenditures
information on dealing with defective products
sales goals

Accepted Answer

The answer of According to the authors, the marketing strategy...

Question 7

A _________ is a detailed description, drawing, or prototype of that idea that can be shown to potential customers.
concept test
product concept
marketing strategy
product development
business analysis

Accepted Answer

The answer of A _________ is a detailed description, drawing,...

Question 8

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
market strategy development
business analysis
product acceptance
proposal

Accepted Answer

The answer of A review of the sales, costs, and...

Question 9

The first part of the marketing strategy statement describes the target market; the planned product positioning; and goals for sales, profits, and ________.
market share
competition
secondary market
competition's anticipated reaction
life-cycle duration

Accepted Answer

The answer of The first part of the marketing strategy...

Question 10

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 testing
concept development
business analysis

Accepted Answer

The answer of GrayBerry Gifts has just brainstormed a large...

Question 11

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

Accepted Answer

The answer of The second part of the marketing strategy...

Question 12

The R-W-W framework asks three questions: Is it real? Can we win? Is it worth doing? Marketers should ask these questions during the ________ stage of the new-product development process.
idea generation
idea screening
concept testing
product development
commercialization

Accepted Answer

The answer of The R-W-W framework asks three questions: Is...

Question 13

Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process.
business feasibility
feasibility study
business analysis
product acceptance
concept testing

Accepted Answer

The answer of Once managers of The Grecian Urn have...

Question 14

A detailed version of a new idea stated in meaningful customer terms is called a ________.
product idea
product concept
product image
product proposal
product movement

Accepted Answer

The answer of A detailed version of a new idea...

Question 15

Your firm asks you to consult internal sources for new product ideas.All of the following are common external sources.
customers
suppliers
competitors
trade shows and magazines
the firm's managers

Accepted Answer

The answer of Your firm asks you to consult internal...

Question 16

In the concept testing stage of new-product development, a _________ form of the product concept is presented to groups of target consumers.
physical
conceptual
final
market-tested
commercial

Accepted Answer

The answer of In the concept testing stage of new-product...

Question 17

Which of the following is most likely to be included in an executive's write up of a new-product idea to be presented to a new-product committee?
the proposed customer value proposition
the product image
the marketing strategy
the business analysis
the planned market rollout

Accepted Answer

The answer of Which of the following is most likely...

Question 18

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

Accepted Answer

The answer of After concept testing, a firm would engage...

Question 19

With what groups do firms conduct concept testing for new products?
suppliers
employees
target consumers
manufacturers
competitors

Accepted Answer

The answer of With what groups do firms conduct concept...

Question 20

Your company decides to use external sources for developing new product ideas.Which of the following would be consulted?
company executives and professionals
company records and data
intrapreneurial programs
suppliers
salespeople

Accepted Answer

The answer of Your company decides to use external sources...

Quiz 8: Developing and Managing Products and Services

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? concept testing marketing strategy development business analysis product development test marketing

________ calls for testing new-product concepts with groups of target consumers. Concept development Concept testing Idea generation Idea screening Test marketing

According to your text, 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

An attractive idea must be developed into a ________. product idea product concept product image test market product strategy

The purpose of idea generation is to create a 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

A _________ is a detailed description, drawing, or prototype of that idea that can be shown to potential customers. concept test product concept marketing strategy product development business analysis

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 market strategy development business analysis product acceptance proposal

The first part of the marketing strategy statement describes the target market; the planned product positioning; and goals for sales, profits, and ________. market share competition secondary market competition's anticipated reaction life-cycle duration

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

The R-W-W framework asks three questions: Is it real? Can we win? Is it worth doing? Marketers should ask these questions during the ________ stage of the new-product development process. idea generation idea screening concept testing product development commercialization

A detailed version of a new idea stated in meaningful customer terms is called a ________. product idea product concept product image product proposal product movement

Your firm asks you to consult internal sources for new product ideas.All of the following are common external sources. customers suppliers competitors trade shows and magazines the firm's managers

In the concept testing stage of new-product development, a _________ form of the product concept is presented to groups of target consumers. physical conceptual final market-tested commercial

Which of the following is most likely to be included in an executive's write up of a new-product idea to be presented to a new-product committee? the proposed customer value proposition the product image the marketing strategy the business analysis the planned market rollout

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

With what groups do firms conduct concept testing for new products? suppliers employees target consumers manufacturers competitors

Your company decides to use external sources for developing new product ideas.Which of the following would be consulted? company executives and professionals company records and data intrapreneurial programs suppliers salespeople