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Practice Quiz 3 (Chapter 10)

6 concept testing a takes place during the screening

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6. Concept testing: A. takes place during the screening step of the new-product development process. B. involves usage tests by potential customers. C. seeks potential customers' reactions and attitudes toward new product ideas--before actual models are developed. D. is the last step before commercialization of a new product idea. E. Both A and D. 7. Pfizer Corp. is introducing a really new product idea. Pfizer is spending a lot of money to inform potential customers and middlemen about the availability and advantages of the new product. Although sales are rising slowly, Pfizer doesn't expect the product to become profitable for at least another year. Pfizer's new product is in which stage of the product life cycle? A. Market introduction B. Sales decline C. Market development D. Market growth E. Market maturity 8. Persuasive promotion is especially important in which of the following product life cycle stages? 9. "Fashion" is the currently accepted or popular ______________:
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Practice Quiz #3 (Chapter 10) 10. When moving into the market maturity stage of the product life cycle, a firm might be able to obtain a competitive advantage:
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