Question 1

The screening and evaluation stage of the new-product development process involves

Accepted Answer

The screening and evaluation stage involves assessing new-product ideas through internal and external appraisals to determine their feasibility and potential success.

Question 2

A concept test is an

Accepted Answer

A concept test is an external evaluation with consumers that involves preliminary testing of a new-product idea rather than the actual finished product.

Question 3

Customer experience management (CEM) is

Accepted Answer

Customer experience management (CEM) focuses on managing the entire customer experience within the company to enhance customer satisfaction and loyalty.

Question 4

A 3M researcher worked with university students to develop the Post-it®Flag Highlighter. When his team evaluated the technical feasibility of the proposed design and determined whether the idea met the firm's objectives set earlier, at which stage of the new-product development process was this product?

Accepted Answer

The stage described is "screening and evaluation," where the technical feasibility of the design is assessed and alignment with the firm's objectives is determined.

Question 5

Generating insights leading to marketing actions based on ideas from massive numbers of people is called

Accepted Answer

Crowdsourcing involves gathering ideas, insights, or contributions from a large group of people, typically via the internet, to inform marketing actions or other business decisions.

Question 6

Because early-stage financing is almost always a problem for those starting a new business, ________ is a way to gather an online community of supporters to financially rally around a specific project that is unlikely to get resources from traditional sources.

Accepted Answer

Crowdfunding is a method of raising capital through the collective effort of friends, family, customers, and individual investors, typically via online platforms, to support a specific project or business venture.

Question 7

Idea generation is the stage in the new-product development process in which the firm

Accepted Answer

Idea generation involves developing a pool of concepts to serve as candidates for new products, which is the initial step in the new-product development process.

Question 8

IDEO is a company that

Accepted Answer

IDEO is known for using "design thinking" to develop new products and solutions for other organizations, focusing on human-centered design and innovation.

Question 9

Dell used ________ to generate 13,464 ideas online for new products as well as website and marketing improvements.

Accepted Answer

Dell used crowdsourcing to gather ideas from a large group of people online, which is a method of obtaining input or ideas from a large, often undefined, group of people, typically via the internet.

Question 10

Which of the following firms uses crowdfunding to raise capital for products that are unlikely to get resources from traditional sources?

Accepted Answer

Kickstarter.com is a well-known crowdfunding platform that helps individuals and companies raise capital for creative projects that may not attract traditional funding sources.

Question 11

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 focus should be on what the new product will do for customers and suppliers, emphasizing the benefits and solutions it provides rather than just its appearance, cost, feel, or features.

Question 12

In addition to seeking ideas from more well-known sources, organizations also get ideas from universities, inventors, and smaller, nontraditional firms. For example, General Mills partnered with Brigham Young University to license its patent for

Accepted Answer

General Mills partnered with Brigham Young University to license its patent for a carbonated yogurt called Go-Gurt Fizzix.

Question 13

Screening and evaluation is the stage of the new-product development process

Accepted Answer

Screening and evaluation is the stage where new-product ideas are assessed internally and externally to eliminate those that do not warrant further effort.

Question 14

All of these are sources for new-product ideas except which?

Accepted Answer

Regulators are typically not a source for new-product ideas; they are more involved in setting rules and guidelines for product compliance and safety.

Question 15

The ________ stage of the new-product development process includes an examination of the technical feasibility for the product, such as 3M determining that the firm's micro-replication technology (the 3,000 tiny gripping fingers per square inch) could be used to improve the gripping power of both batting and work gloves.

Accepted Answer

The answer of The ________ stage of the new-product development...

Question 16

________ includes considering employee interactions with customers to ensure they are consistently delivered and experienced, clearly differentiated from other offerings, and relevant and valuable to the target market.

Accepted Answer

Customer experience management involves overseeing and optimizing all interactions between a company and its customers to ensure they are positive, consistent, and aligned with the brand's values and goals.

Question 17

Which of the following is an IDEO design?

Accepted Answer

IDEO is known for designing the Crest Neat Squeeze toothpaste dispenser.

Question 18

The stage of the new-product development process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort is referred to as

Accepted Answer

Screening and evaluation is the stage where new-product ideas are assessed to determine their potential and feasibility, eliminating those that do not meet the necessary criteria for further development.

Question 19

An external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished product is referred to as

Accepted Answer

A concept test involves presenting consumers with a new-product idea to gauge their reactions and gather feedback before the product is fully developed.

Question 20

Open innovation may enhance the ________ stage of the new-product development process.

Accepted Answer

Open innovation is particularly beneficial in the idea generation stage as it involves sourcing ideas from external sources, which can lead to a wider range of innovative concepts.

Quiz 10: Developing New Products and Services