chapter 8

chapter 8 - Chapter 8 New-Product Development and Product...

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Chapter 8 New-Product Development and Product Life-Cycle Strategies GENERAL CONTENT: Multiple-Choice Questions 1. Every product seems to go through a life cycle. Which of the following is not a major challenge presented by the PLC? a. All products eventually decline. b. A firm must be good at developing new products to replace aging ones. c. The firm must be good at adapting its marketing strategies. d. It is difficult to plot the stages as a product goes through the stages. e. C and D (Answer: d; p. 239; Moderate) 2. Products may fail because _____. a. the market size may have been overestimated b. the product’s design did not meet consumer expectations c. they were priced too high d. they were advertised poorly e. any of the above (Answer: e; p. 239; Easy) 3. A company can obtain new products through new product development. Which of the following define(s) new products? a. Original products. b. Product improvements. c. Product modification. d. All of the above. e. None of the above. (Answer: d; p. 239; Moderate) 4. New products fail at a disturbing rate. Research estimates that _____ of all new products fail within two years. a. 60 percent b. 70 percent c. 80 percent d. 90 percent e. 95 percent (Answer: d; p. 239; Easy) 224
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5. New product development starts with _____. a. idea generation b. idea screening c. concept development d. concept testing e. test marketing (Answer: a; p. 240; Easy) 6. Your company decides to use internal sources for developing new product ideas. Which of the following would not be a common internal source? a. Questioning executives and professionals. b. Company records and data. c. Encouraging intrapreneurism. d. Privileged information. e. Past sales numbers. (Answer: d; p. 240; Moderate) 7. A _____ is the way consumers perceive an actual or potential product. a. product idea b. product concept c. product image d. test market e. concept test (Answer: c; p. 242; Easy) 8. H. J. Heinz Company developed its successful new line of ketchup by observing and listening to its _____. a. employees b. sales force c. customers d. suppliers e. competitors (Answer: c; p. 241; Easy) 9. Some companies give customers the tools and resources to design their own _____. a. advertising campaigns b. products c. product modifications d. product applications e. shelves (Answer: b; p. 241; Moderate) 225
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10. At this point your firm wants to use external sources for new product ideas. After consulting with a friend you learn that all of the following are common sources except _____. a. customers b. suppliers c. competitors d. government agencies e. B and C (Answer: d; p. 241; Easy) 11. How could you use competitors as a choice of external new product ideas? a.
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chapter 8 - Chapter 8 New-Product Development and Product...

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