A The stage of new product development in which the product and its proposed

A the stage of new product development in which the

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A. The stage of new product development in which the product and its proposed marketing are tested in realistic market settings 36. What happens during the growth stage of the PLC? A. A product's sales start climbing quickly. 37. What is concept testing? A. The process of testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal 38. What is idea screening? A. The process of filtering new product ideas to spot good ideas and drop poor ones as soon as possible 39. What is team-based new product development? A. New product development in which various company departments work closely together, overlapping the steps in the product development process to save time and increase effectiveness 40. What is the definition of a fad? A. A temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity 41. What is the name for the introduction of a new product into the market? A. Commercialization 42. Which of the following describes customer-centered new product development? A. New product development that focuses on finding new ways to solve customer problems and create more customer-satisfying experiences 43. Which of the following is a product strategy in the maturity stage of the PLC? A. Diversifying the brand and models 44. Which term refers to a currently accepted or popular mode of expression in a given field? A. Fashion 45. With regard to the PLC stages, which of the following describes the decline stage? A. A product's sales fade away 46. Business analysis : a review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company's objectives. (if yes, move to product development) 47. Concept testing : testing new-product concepts with a group of target consumers to find out if the concepts have strong consumer appeal. 48. Commercialization : introducing a new product into the market. 49. Crowdsourcing: inviting broad communities of people- the customers, employees, independent scientists and researchers, and the public at large-into the new-product innovation process 50. Customer-centered new-product development: new product development that focuses on finding new ways to
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  • Spring '19
  • Marketing, Product life cycle management, new product development, A. Customer

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