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Chap011 - Chapter 11 Developing New Products Chapter 11...

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Chapter 11 - Developing New Products Chapter 11 Developing New Products True / False Questions 1. Scientific research transforms ideas into interesting and useful services. True False 2. New product development adds value to a firm's products and services through innovation. True False 3. Although innovation strategies may not work in the long run, overriding short-term reasons compel firms to introduce new products and services. True False 4. New-to-the-world products that create new markets, can add tremendous value to firms. True False 5. The majority of new products are failures. True False 6. Even if they succeed, new-to-the-world products are not adopted by everyone at the same time. True False 7. Compatibility is important for rapid diffusion of new products because products that are consistent with consumers' past behavior will be more readily accepted. True False 11-1
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Chapter 11 - Developing New Products 8. One of the key characteristics of brainstorming sessions is bad ideas should be immediately rejected so the group can focus its attention to good ideas. True False 9. Test marketers are customers who modify existing products according to their own ideas to suit their specific needs. True False 10. When Glenn asked a few of his regular customers to test his prototype surf board, he was engaging in alpha testing. True False 11. To determine if a new product is commercially viable, a firm can conduct premarket testing. True False 12. A product will likely remain in the mature stage of the product life cycle until a superior product comes along to replace it. True False 13. The maturity phase of the product life cycle is characterized by greatly reduced competition. True False 14. The most challenging part of applying the product life cycle concept is that managers do not know exactly how long each stage of the cycle will last. True False 11-2
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Chapter 11 - Developing New Products Multiple Choice Questions 15. Chicago-based Inventibles demonstrates that innovation came from many areas. Which of the following is NOT one of the areas of expertise? A. materials B. mechanisms C. state and federal regulations D. processes E. electronics 16. When pharmaceutical companies take new products through the Food and Drug Administration's approval process, they are hoping their technological research will:
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