Question 1

In late 2016,the Google team announced its fleet of driverless cars had completed over one million miles of accident-free,"autonomous driving." The Google driverless car is at which stage of the new-product process?

Accepted Answer

The answer of In late 2016,the Google team announced its...

Question 2

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 determination of intellectual property protection are part of the business analysis stage, which occurs after the idea generation and development stages but before market testing and commercialization.

Question 3

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

Accepted Answer

The development stage is where the idea on paper is turned into a physical prototype.

Question 4

A concept test is an

Accepted Answer

A concept test is an external evaluation with consumers that tests a new-product idea before the actual finished product is produced. It aims to determine customer feedback, interest, and demand for the product, as well as identify any potential issues or improvements before launch.

Question 5

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

Accepted Answer

Prototype is the correct choice as it refers to a fully functioning model of the product or service being developed. A sample may only show a subset of features or functionality, a framework is a general structure for development but lacks specific details, a template is a pre-designed format that can be modified but does not function as a full product, and a blueprint is a detailed plan but does not function as a full product.

Question 6

A prototype is a

Accepted Answer

The answer of A prototype is a
...

Question 7

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

The business analysis stage in the new-product development process involves evaluating the potential success of the proposed new product from a business standpoint. This includes assessing whether the product can be produced economically, what the potential market size and profitability are, and what marketing strategy will be needed to reach the target audience and succeed. Therefore, this is the stage where the "business fit" of the new product is assessed.

Question 8

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

Accepted Answer

Business analysis refers to the stage of new-product development process where the features of the product are specified and a marketing strategy is developed to bring it to market. Financial projections are also made during this stage to determine the potential profitability of the new product. Option A is incorrect because resources are allocated during the development stage. Option B is incorrect because some segments with lower potential may still be targeted depending on the overall strategy. Option D is incorrect because ROI analysis is typically done during the commercialization stage. Option E is incorrect because idea generation and screening occur in the earlier stages of the new-product development process.

Question 9

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 stage of the new-product development process, a general review of possible marketing and product synergies, economic analysis, and cannibalization potential is conducted. This helps determine the potential profitability and market success of the new product. In this stage, the company analyzes the data collected during the screening and evaluation stage to determine the financial viability of the new product. Therefore, the correct choice is A) business analysis.

Question 10

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 survive...

Question 11

If you watch much television,you have seen the 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 product, in this case a car, would occur during the development stage of the new-product development process. This is when the product is being designed and engineered to meet certain specifications and requirements, including safety standards. The crash test is a crucial step in ensuring that the product meets these requirements and is safe for use by consumers.

Question 12

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

Accepted Answer

Concept tests are conducted during the screening and evaluation stage of the new-product development process to determine the viability of the product concept and gather feedback from potential customers.

Question 13

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

The manufacturing issues regarding the battery recycler become an especially important element during the development stage of the new-product process. This is the stage where the product design is finalized and a working prototype is developed, making it crucial to address any potential manufacturing challenges that may arise.

Question 14

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

Accepted Answer

The development stage involves turning the idea into a prototype, so this is the correct answer. Idea generation is the stage where ideas are generated, screening and evaluation is the stage where the ideas are evaluated to determine their feasibility, business analysis is the stage where the costs and benefits are evaluated, and commercialization is the stage where the product is launched into the market.

Question 15

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

Consumer or safety tests occur during the development stage of the new-product development process when the product is being tested and refined before it is launched in the market. Safety tests ensure that the product complies with the industry and government safety standards and does not pose any risk or harm to the consumers. Therefore, the best choice for the question is B) development.

Question 16

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

Business analysis is the stage in the new-product development process where financial projections are made, and the marketing strategy is specified, keeping the product features in mind. Idea generation is the first stage where ideas are brainstormed for the new product. In marketing analysis, the target market is identified, and the needs of the customers are assessed. In product development, the product is made to come to life, and in commercialization, the final product is introduced to the market.

Question 17

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 obtaining feedback from a group of target consumers about a new-product idea. It is used to assess consumer reactions to a product idea and whether it meets their needs and preferences before investing in the development of the actual product.

Question 18

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

Accepted Answer

Turning the idea on paper into a prototype typically occurs during the product design and development stage, which follows the business analysis stage. The other actions, such as assessing marketing and product synergies, determining patent/copyright protection, and evaluating fit with company mission and objectives, are all part of the business analysis stage. Using capacity management to match service availability with demand is also a possible action during this stage.

Question 19

Customer experience management (CEM)is

Accepted Answer

Customer experience management (CEM) refers to the process of managing the entire customer experience within the company. This includes all interactions between the customer and the company, including before-sale and after-sale service, as well as interactions with employees, products, and services. CEM aims to create positive experiences for customers that ultimately lead to loyalty, repeat business, and positive word-of-mouth advertising.

Question 20

__________ 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 ensuring that employees deliver consistent, differentiated, and valuable experiences to customers. This requires considering employee interactions with customers and aligning them with the target market's needs and preferences. Capacity management (A) involves managing the organization's resources to match customer demand, derived demand (C) refers to the demand for an organization's services based on the demand for its customers' products, internal marketing (D) involves promoting a service culture within the organization, and the key service factor (E) refers to the most important factor that determines a customer's satisfaction with a service.

Quiz 9: Developing New Products and Services