Marketing Final Exam

Ideas for new product development the employees are

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Unformatted text preview: roduct ideas are customergeneration and competitive imitation. ANS: F The two techniques considered most useful for generating new-product ideas are brainstorming and focus group exercises. PTS: 1 REF: 174 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 8. Seven employees from a company are trying to come up with ideas for new-product development. The employees are all in a room together, shouting out potential ideas. The ideas are written down and evaluated as they are generated. This is an example of brainstorming. ANS: F Brainstorming does not involve evaluation of the ideas as they are generated; criticism of any kind is avoided. PTS: 1 REF: 174 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Application 9. Most new-product ideas are rejected at the idea generation stage. ANS: F Most are rejected at the idea screening stage. PTS: 1 REF: 174-175 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 10. It is considered inefficient to use concept tests during the idea screening stage of the new-product development process. ANS: F During the idea screening stage of the new-product development process, it is appropriate to use concept tests. PTS: 1 REF: 175 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 11. Concepts tests are considered fairly good predictors of success for line extensions and for products that do not require major changes in consumer behavior. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Comprehension REF: 175 OBJ: 11-2 KEY: CB&E Model Product 12. Andersen Electronics is currently engrossed in its first estimations of costs and revenues for a new amusement park video skill game. This firm is engaged in a new-product business analysis. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Application REF: 175 OBJ: 11-2 KEY: CB&E Model Product 13. Basically, all that happens in the development stage of the new-product process is that the first prototype of the product is developed. ANS: F Not only is a prototype developed, where appropriate, but also preliminary decisions on every aspect of the four Ps are developed at this stage. PTS: 1 REF: 175 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 14. A test market is one example of a laboratory test where consumers are encouraged to try a new product and provide feedback to the manufacturer. ANS: F A test market is not a laboratory test. PTS: 1 REF: 177 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Knowledge 15. One benefit of test marketing is that the marketing activity is shielded from competitors. ANS: F Test marketing may result in a serious problem if a firm’s competitors find out about the new product before it has been fully introduced. PTS: 1 REF: 177 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflec...
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