Question 1

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 is an external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished product. Choice A refers to the overall process of developing a strategy for introducing a new product, Choice B refers to the initial step of generating ideas for a new product, Choice C refers to obtaining input from a large group of people (which may or may not include concept testing), and Choice D refers to testing the actual finished product before it is launched.

Question 2

New-product strategy development calls for INGenius Co. to develop a battery recycler for the business market. Which is the most likely stage of the new-product process in which manufacturing issues regarding the new product become an especially important element?

Accepted Answer

Manufacturing issues become an important element during the development stage of the new-product process as the product is being designed and produced. The development stage is focused on creating a prototype, testing the product, and ironing out any technical or manufacturing issues before it is brought to market.

Question 3

A general review of possible marketing and product synergies, economic analysis, and cannibalization potential would all take place during which stage of the new-product development process?

Accepted Answer

During the business analysis phase of the new-product development process, the company conducts a thorough analysis of the potential market, evaluates possible marketing and product synergies, performs an economic analysis, and assesses the cannibalization potential of the new product. These factors are crucial in determining the viability of the new product and whether it will be profitable in the market. Therefore, A) business analysis is the stage where these activities take place.

Question 4

At Mattel, Barbie is child-tested to be sure the doll cannot be broken apart and accidentally cause a child to choke on pieces. This type of consumer or safety test occurs during the ________ stage of the new-product development process.

Accepted Answer

The development stage involves the creation of a prototype or sample of the product. During this stage, product tests and trials take place to ensure that the product meets industry and regulatory standards for safety, quality, and reliability. In this case, the safety test of Barbie is conducted during the development stage to ensure it is safe for children to play with.

Question 5

Market testing the stage of the new-product development process that involves

Accepted Answer

Market testing involves exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy.

Question 6

The stage of the new-product process that exposes actual products to prospective consumers under realistic purchase conditions to see if they will buy is referred to as

Accepted Answer

Market testing involves exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy. This stage comes after development, screening and evaluation, and business analysis. Commercialization is the final stage of the new-product process.

Question 7

Google's driverless cars had completed over three million miles of autonomous driving with a Google engineer in the passenger seat. The Google driverless car initiative is at which stage of the new-product process?

Accepted Answer

The Google driverless car initiative is at the development stage of the new-product process. This is because the cars have been built and are being tested, but they are not yet available for sale to the public.

Question 8

Detailed financial projections and determination if a new product could be protected with patents or copyright are a part of which stage of the new-product development process?

Accepted Answer

Detailed financial projections and legal protection considerations are part of the business analysis stage of new-product development, which occurs after the initial idea generation stage and before market testing, development, and commercialization.

Question 9

Development is the stage of the new-product development process

Accepted Answer

The development stage of the new-product development process involves turning the idea on paper into a physical prototype. This stage focuses on engineering and testing the product to ensure it meets design specifications and is ready for further testing in subsequent stages.

Question 10

The stage of the new-product development process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections is referred to as

Accepted Answer

The stage that specifies the features of the product and the marketing strategy and financial projections needed to bring it to market is known as business analysis. During this stage, companies take a closer look at the potential market (size, growth rate, competition, etc.), the costs of producing and delivering the product, and the projected revenue and profit margins. Therefore, option B is the correct choice.

Question 11

The stage of the new-product development process that turns an idea on paper into a prototype is referred to as

Accepted Answer

The stage that turns an idea on paper into a prototype is referred to as development. Choice A (idea generation) is the stage where ideas are generated, Choice B (screening and evaluation) involves evaluating ideas to identify those with the best potential, Choice C (business analysis) evaluates the financial viability of the product, and Choice D (commercialization) involves bringing the product to the market.

Question 12

An assessment of the "business fit" of the proposed new product, from whether it can be economically produced to the marketing strategy needed to have it succeed, takes place during which stage of the new-product development process?

Accepted Answer

This stage specifically involves evaluating the market potential of the new product and conducting an assessment of whether it fits with the company's overall business strategy. This includes analyzing the feasibility of producing the product and determining its profitability, as well as identifying potential marketing challenges and developing a plan to overcome them. Therefore, it is the stage where the business fit of the new product is assessed.

Question 13

A prototype is a

Accepted Answer

The answer of A prototype is a
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Question 14

All of the following actions occur during the business analysis stage of the new-product development process except which?

Accepted Answer

The action of turning the idea on paper into a prototype occurs during the product development stage, not the business analysis stage.

Question 15

A concept test is an

Accepted Answer

A concept test is a type of market research that involves presenting a new-product idea to a sample of target consumers to measure their attitudes and intentions regarding the product. This is done before the actual finished product is developed, in order to gauge the market's interest in the idea and identify potential problems or issues. Therefore, choice B - external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished product - is the best answer.

Question 16

In the new-product process, product ideas that survive the business analysis stage proceed to the ________ stage.

Accepted Answer

The answer of In the new-product process, product ideas that...

Question 17

You may have seen automobile ads that show a controlled crash of a car containing crash test dummies and the resultant vehicular damage. In the new-product development process, this safety test would occur during the ________ stage.

Accepted Answer

The safety test of a car would occur during the development stage of the new-product development process. During this stage, the product prototype is tested and refined until it meets safety and performance standards before it goes to market testing.

Question 18

Concept tests are part of which stage in the new-product development process?

Accepted Answer

Concept tests are a tool used in the screening and evaluation stage of the new-product development process to determine if a new product concept has the potential to be successful in the market.

Question 19

A full-scale operating model of the product or service under development is referred to as a

Accepted Answer

A prototype is a full-scale operating model of the product or service under development. It is used as a test version for testing purposes before releasing the final product or service to the market. Samples are smaller versions of a product used for demonstration purposes. Frameworks and templates are used as structures or guides for creating a product or service. Blueprints refer to technical drawings or plans used in construction or manufacturing.

Question 20

Business analysis is the stage of the new-product development process

Accepted Answer

Business analysis is the stage of the new-product development process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections. During this stage, the potential financial return of the new product is also evaluated to determine whether it is worth pursuing. This stage involves conducting market research, analyzing competition, and developing a detailed plan for the launch of the new product.

Quiz 9: Developing New Products and Services