Question 1

Relatively few product ideas are put into the product development stage.

Accepted Answer

A) True 
 B)False  True

Question 2

Test marketing is used by companies of all sizes, primarily because of the perceived risk of product failure on the open market and the associated consequences.

Accepted Answer

A) True 
 B)False

Question 3

Why is a product mix portfolio important?

Accepted Answer

A company often has to modify existing p...

Question 4

New-product development does not include planning for advertising.

Accepted Answer

A) True 
 B)False  False

Question 5

Systematic reviews of a company's product mix aid in determining when product deletion is necessary.

Accepted Answer

A) True 
 B)False

Question 6

Why are line extensions more common than new products?

Accepted Answer

A)   They are higher risk and more expensive.
B)   They are guaranteed to succeed in the marketplace.
C)   They are less expensive and lower-risk.
D)   They require no market research.
E)   Modifications to existing products are very easy.F) C) and D)
G) B) and E)

Question 7

A complex product development process, including an extensive business analysis to determine the possibility of success, are hallmarks of a:

Accepted Answer

A)   genuinely new product.
B)   radically new product.
C)   new product failure.
D)   controlled new product.
E)   market share advance.F) A) and E)
G) B) and C)

Question 8

Concept testing gives reliable feedback, but at a relatively high cost.

Accepted Answer

A) True 
 B)False

Question 9

Marketers begin to make decisions about labelling, packaging, branding, pricing, and promotion during:

Accepted Answer

A)   commercialization.
B)   screening.
C)   concept testing.
D)   product development.
E)   test marketing.F) B) and D)
G) A) and B)

Question 10

In product modification, the first issue to consider is whether:

Accepted Answer

A)   existing customers can perceive that a product modification has been made.
B)   the product is modifiable.
C)   quality is modified.
D)   modification will make the product more consistent with customers' desires.
E)   modification will provide greater satisfaction to the consumer.F) A) and E)
G) A) and D)

Question 11

Test marketing is a sample launching of the entire marketing mix.

Accepted Answer

A) True 
 B)False

Question 12

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called:

Accepted Answer

A)   concept testing.
B)   customer response testing.
C)   idea analysis.
D)   test marketing.
E)   screening.F) C) and E)
G) A) and C)

Question 13

What is commercialization?

Accepted Answer

During the commercialization phase, plan...

Question 14

The ability of a product to provide the same level of quality over time is called:

Accepted Answer

A)   consistency.
B)   longevity.
C)   variability.
D)   status.
E)   image.F) A) and B)
G) B) and C)

Question 15

All of the following are major steps in developing new products except:

Accepted Answer

A)   test marketing.
B)   evaluation of competitors' efforts.
C)   screening.
D)   business analysis.
E)   idea generation.F) None of the above
G) A) and B)

Question 16

The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.

Accepted Answer

A)   idea generation
B)   screening
C)   product development
D)   test marketing
E)   business analysisF) D) and E)
G) A) and E)

Question 17

An important question in the business analysis stage of new-product development is, "Will this product meet our profit goal?"

Accepted Answer

A) True 
 B)False

Question 18

Identify and explain the dimensions of product quality.

Accepted Answer

Changes concerning a product's dependability and durability are called quality modifications. Usually, they are executed by altering the materials or the production process. Reducing a product's quality may allow a company to lower its price and direct the item at a larger target market. Higher quality may enable a company to charge a higher price by creating customer loyalty and by lowering customer sensitivity to price. However, higher quality may require the use of more expensive components, less standardized production processes, and other manufacturing and management techniques that force a company to charge higher prices.

Question 19

Compare and contrast line extensions and product modifications and give examples of each.

Accepted Answer

A line extension is the development of a...

Question 20

The test-marketing stage:

Accepted Answer

A)   is an extension of the screening stage.
B)   should come immediately after business analysis.
C)   ensures that the product will not fail.
D)   is a sample launching of the entire marketing mix.
E)   prevents competitors from copying the product.F) A) and B)
G) None of the above

Exam 9: Developing Products and Managing Product Portfolios

Relatively few product ideas are put into the product development stage.

Correct Answer
verified
True

Test marketing is used by companies of all sizes, primarily because of the perceived risk of product failure on the open market and the associated consequences.

Correct Answer
verified

Why is a product mix portfolio important?

Correct Answer
verified
A company often has to modify existing p...
View Answer

New-product development does not include planning for advertising.

Correct Answer
verified
False

Systematic reviews of a company's product mix aid in determining when product deletion is necessary.

Correct Answer
verified

Why are line extensions more common than new products?

Correct Answer
verified

A complex product development process, including an extensive business analysis to determine the possibility of success, are hallmarks of a:

Correct Answer
verified

Concept testing gives reliable feedback, but at a relatively high cost.

Correct Answer
verified

Marketers begin to make decisions about labelling, packaging, branding, pricing, and promotion during:

Correct Answer
verified

In product modification, the first issue to consider is whether:

Correct Answer
verified

Test marketing is a sample launching of the entire marketing mix.

Correct Answer
verified

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called:

Correct Answer
verified

What is commercialization?

Correct Answer
verified
During the commercialization phase, plan...
View Answer

The ability of a product to provide the same level of quality over time is called:

Correct Answer
verified

All of the following are major steps in developing new products except:

Correct Answer
verified

The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.

Correct Answer
verified

An important question in the business analysis stage of new-product development is, "Will this product meet our profit goal?"

Correct Answer
verified

Identify and explain the dimensions of product quality.

Compare and contrast line extensions and product modifications and give examples of each.

Correct Answer
verified
A line extension is the development of a...
View Answer

The test-marketing stage:

Correct Answer
verified

Exam 9: Developing Products and Managing Product Portfolios

Relatively few product ideas are put into the product development stage.

Correct AnswerverifiedTrue

Test marketing is used by companies of all sizes, primarily because of the perceived risk of product failure on the open market and the associated consequences.

Correct AnswerverifiedShow Answer

Why is a product mix portfolio important?

Correct AnswerverifiedA company often has to modify existing p...View AnswerShow Answer

New-product development does not include planning for advertising.

Correct AnswerverifiedFalse

Systematic reviews of a company's product mix aid in determining when product deletion is necessary.

Correct AnswerverifiedShow Answer

Why are line extensions more common than new products?

Correct AnswerverifiedShow Answer

A complex product development process, including an extensive business analysis to determine the possibility of success, are hallmarks of a:

Correct AnswerverifiedShow Answer

Concept testing gives reliable feedback, but at a relatively high cost.

Correct AnswerverifiedShow Answer

Marketers begin to make decisions about labelling, packaging, branding, pricing, and promotion during:

Correct AnswerverifiedShow Answer

In product modification, the first issue to consider is whether:

Correct AnswerverifiedShow Answer

Test marketing is a sample launching of the entire marketing mix.

Correct AnswerverifiedShow Answer

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called:

Correct AnswerverifiedShow Answer

What is commercialization?

Correct AnswerverifiedDuring the commercialization phase, plan...View AnswerShow Answer

The ability of a product to provide the same level of quality over time is called:

Correct AnswerverifiedShow Answer

All of the following are major steps in developing new products except:

Correct AnswerverifiedShow Answer

The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.

Correct AnswerverifiedShow Answer

An important question in the business analysis stage of new-product development is, "Will this product meet our profit goal?"

Correct AnswerverifiedShow Answer

Identify and explain the dimensions of product quality.

Compare and contrast line extensions and product modifications and give examples of each.

Correct AnswerverifiedA line extension is the development of a...View AnswerShow Answer

The test-marketing stage:

Correct AnswerverifiedShow Answer

Correct Answer
verified
True

Correct Answer
verified

Correct Answer
verified
A company often has to modify existing p...
View Answer

Correct Answer
verified
False

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
During the commercialization phase, plan...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A line extension is the development of a...
View Answer

Correct Answer
verified