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
A)new-product strategy development.
B)idea generation.
C)crowdsourcing.
D)market testing.
E)a concept test.

Accepted Answer

A concept test is a type of market research method that evaluates consumers' responses to a new product idea before it is developed or launched. This type of research helps the company understand the potential demand for the new product and make necessary adjustments before investing in the development and launch.

Question 2

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?
A)business analysis
B)screening and evaluation
C)new-product strategy development
D)development
E)These activities are addressed at every stage except new-product strategy development.

Accepted Answer

During the business analysis stage, a company conducts a thorough analysis of the new product, including marketing and product synergies, economic analysis, and cannibalization potential. The focus of this stage is to evaluate whether the new product is feasible from a business perspective, including assessing its financial viability and potential impact on the company's existing products. Therefore, the business analysis stage is the best choice for this question.

Question 3

A full-scale operating model of the product or service under development is referred to as a
A)sample.
B)framework.
C)template.
D)prototype.
E)blueprint.

Accepted Answer

A prototype is a full-scale operating model of the product or service under development. It allows the designers to test and refine the product before releasing it to the market. A prototype can be physical or digital and helps to validate the design and functionality of the product.

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.
A)new-product strategy development
B)development
C)business analysis
D)screening and evaluation
E)market testing

Accepted Answer

The development stage of the new-product development process is where the product is actually created and produced. This is when safety tests, such as consumer tests, are conducted to ensure the product is safe for use.

Question 5

Factors such as specifying product features, marketing strategy, and financial projections are a part of which stage of the new-product process?
A)idea generation
B)market testing
C)development
D)commercialization
E)business analysis

Accepted Answer

Business analysis is the stage in which factors such as specifying product features, marketing strategy, and financial projections are analyzed to determine the feasibility and profitability of a new product offering.

Question 6

The stage of the new-product development process that turns an idea on paper into a prototype is referred to as
A)idea generation.
B)screening and evaluation.
C)business analysis.
D)commercialization.
E)development.

Accepted Answer

The development stage is when the idea is transformed into a prototype, which can be tested and refined. This stage typically involves creating a physical product or service, as well as detailed planning for marketing, manufacturing, and distribution, among other things.

Question 7

A concept test is an
A)internal evaluation among members of the entire cross-functional new-product development team that consists of preliminary testing of a new-product idea rather than the actual product.
B)external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished product.
C)internal evaluation that consists of preliminary testing of a new-product idea using a mock-up or prototype of the new item.
D)in-house computer simulation of the new product that closely resembles the actual product to forecast sales.
E)in-depth questionnaire filled out both by internal marketing personnel and external customers to ensure that the final product meets all the needs expressed in the original product plan.

Accepted Answer

A concept test is a type of market research that involves presenting a new product idea to a target audience to gauge their reactions and get feedback. This is typically done through external evaluation with consumers, which is why option B is the correct answer. Option A describes an internal evaluation among team members, while option C refers to testing a mock-up or prototype of the new product. Option D describes a simulation, which is not the same as a concept test. Option E refers to a questionnaire, which can be part of a concept test but is not the only component.

Question 8

All of the following actions occur during the business analysis stage of the new-product development process except
A)using capacity management to find ways to match the availability of the service offering to when it is needed.
B)assessing the marketing and product synergies related to the company's existing operations.
C)turning the idea on paper into a prototype.
D)determining whether the new product can be protected with a patent or copyright.
E)assessing whether the proposed new product fits with the company's mission and objectives.

Accepted Answer

Turning the idea on paper into a prototype is part of the product design and development stage, not the business analysis stage.

Question 9

Development refers to the stage of the new-product development process
A)where initial ideas are generated and discussed.
B)that turns an idea on paper into a prototype.
C)where product characteristics and product benefits are selected.
D)where cross-functional team members and leaders are selected and initial tasks are assigned.
E)where the first version of a product enters the marketplace.

Accepted Answer

Development is the stage where the idea is turned into a tangible product through the creation of a prototype.

Question 10

Detailed financial projections and assessments of marketing and product synergies are a part of which stage of the new-product development process?
A)idea generation
B)market testing
C)business analysis
D)development
E)commercialization

Accepted Answer

Financial projections and assessments of marketing and product synergies are a part of the business analysis stage of the new-product development process. This stage involves evaluating the financial feasibility of the new product and determining whether it will be profitable for the company to pursue it. It also involves assessing the market demand and competition for the new product and developing a marketing plan to promote it.

Question 11

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
A)idea generation.
B)business analysis.
C)marketing analysis.
D)product development.
E)commercialization.

Accepted Answer

The business analysis stage of the new-product development process involves examining the potential profitability of the product and determining the marketing strategy needed to bring it to market. Financial projections are also made during this stage.

Question 12

__________ 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.
A)Capacity management
B)Customer experience management
C)Derived demand
D)Internal marketing
E)The key service factor

Accepted Answer

The specific aspect mentioned, considering employee interactions with customers, falls under the domain of customer experience management. The other options do not directly relate to this concept.

Question 13

Business analysis refers to the stage of the new-product development process
A)where the target markets are selected and resources are allocated to reach them.
B)where the target market segments that show potential are selected and those that do not are eliminated.
C)that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.
D)where there is a formal accounting of all monies spent on R&D to determine the return on investment (ROI) that the new product will give back to the firm.
E)that internally and externally evaluates new-product ideas to eliminate those warranting no further effort.

Accepted Answer

Business analysis specifies the features of the product, the marketing strategy needed to bring it to market, and makes financial projections. It is a key stage in the new-product development process. Choices A, B, D, and E do not accurately describe the business analysis stage.

Question 14

After the new owner purchased a fully equipped yogurt factory, it took a yogurt master a year and a half to come up with the perfect formulation for Chobani Greek Yogurt. The most likely stage of the new-product process during which this time was spent is
A)development.
B)market testing.
C)idea generation.
D)screening and evaluation.
E)business analysis.

Accepted Answer

The time spent by the yogurt master to come up with the perfect formulation for Chobani Greek Yogurt indicates the development stage, which involves creating and refining the product idea or concept. Market testing, idea generation, screening and evaluation, and business analysis are all earlier stages of the new-product process that occur before the development stage.

Question 15

A prototype is a
A)miniature version of an actual new product used in concept testing to identify any changes that need to be made prior to its commercialization.
B)full-scale operating model of the product or service under development.
C)sample of a new product given to prospective customers and opinion leaders used to generate awareness prior to the product's commercial release.
D)simulated operating model of the product given to consumers to use in full-scale field testing.
E)digital version of a product produced in multiple shapes, colors, and sizes to determine which version of the product customers like best.

Accepted Answer

The answer of A prototype is a
A)miniature version of an...

Question 16

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?
A)business analysis
B)screening and evaluation
C)new-product strategy development
D)development
E)These activities are addressed at every stage with the exception of new-product strategy development.

Accepted Answer

The business analysis stage involves analyzing whether the proposed new product can be produced economically, as well as assessing the marketing strategy needed for the product to succeed in the market. Therefore, A is the correct choice.

Question 17

Concept tests are part of which stage in the new-product development process?
A)development
B)screening and evaluation
C)idea generation
D)new-product strategy development
E)business analysis

Accepted Answer

Concept tests are done in the screening and evaluation stage of the new-product development process, which is focused on evaluating the potential feasibility and success of new product ideas generated in the previous stage (idea generation). The purpose of concept testing is to gather feedback from potential customers about the new product idea and determine if there is enough interest and demand for it to move forward in the development process.

Question 18

A 3M researcher worked with university students to develop the Post-it
A)idea generation
B)screening and evaluation
C)business analysis
D)new-product strategy development
E)concept testing

Accepted Answer

The answer of A 3M researcher worked with university students...

Question 19

In the new-product process, product ideas that survive the business analysis stage proceed to the __________ stage.
A)market testing
B)screening and evaluation
C)business analysis
D)development
E)commercialization

Accepted Answer

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

Question 20

Customer experience management (CEM) is
A)the integration of the service component of the marketing mix with efforts to influence consumer demand.
B)the unique combination of benefits received by targeted buyers that include quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
C)the process of managing the entire customer experience within the company.
D)a cluster of benefits that an organization promises customers to satisfy their needs.
E)the ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience.

Accepted Answer

Customer experience management (CEM) is the process of managing the entire customer experience within the company. It involves understanding and responding to customer feedback, designing and implementing effective customer service processes, and fostering a customer-centric culture within the organization. Option A is describing service marketing; Option B is the definition of value proposition; Option D is referring to customer benefits; Option E is describing logistics management's ability to meet user needs.

Quiz 10: Developing New Products and Services

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

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?

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

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.

Factors such as specifying product features, marketing strategy, and financial projections are a part of which stage of the new-product process?

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

A concept test is an

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

Development refers to the stage of the new-product development process

Detailed financial projections and assessments of marketing and product synergies are a part of which stage of the new-product development process?

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

__________ 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.

Business analysis refers to the stage of the new-product development process

After the new owner purchased a fully equipped yogurt factory, it took a yogurt master a year and a half to come up with the perfect formulation for Chobani Greek Yogurt. The most likely stage of the new-product process during which this time was spent is

A prototype is a

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?

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

A 3M researcher worked with university students to develop the Post-it

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

Customer experience management (CEM) is