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Terms in this set (20)Atwood Furnishers is experiencing a period when their sales are increasing at a slower rate. The company realizes that new users cannot be added indefinitely and that, sooner or later, its market will approach saturation. Which stage is the company now entering? Beginning of the maturity stage The rate of the decline of sales during the product life cycle is governed by how rapidly consumer tastes change or substitute products are adopted. True When developing new product, which is true of a new-product development strategy? a. It must be compatible with the objectives of the marketing department, the business unit, and the corporation. It must be compatible with the objectives of the marketing department, the business unit, and the corporation Which of the following is a goal of brainstorming? a. To get a group to arrive at a solution
within set parameters To discuss ideas while avoiding criticism of them Compared to innovators, early adopters ______. a. are more likely to be opinion leaders are more likely to be opinion leaders What do programs like Google X do to promote innovative thinking among its employees? a. They eliminate the fear of coming up with bad ideas by rewarding failure. They eliminate the fear of coming up with bad ideas by rewarding failure. Which of the following describes laggards? a. They have the longest adoption time and the highest socioeconomic status. They have the longest adoption time and the lowest socioeconomic status. Which of the following is a disadvantage of test marketing? a. It inaccurately predicts the success of a product that creates new consumption patterns. It exposes the new product and its marketing mix to its competitors before its introduction. Which of the following is a characteristic of products produced by multinational corporations? a. Products are developed for global distribution and then tweaked to meet unique market requirements whenever possible. Products are developed for global distribution and then tweaked to meet unique market requirements whenever possible. A new-product strategy links the new-product development process with the objectives of the marketing department, the business unit, and the corporation. True NutriOats, an oatmeal cookie product, has been in the market for more than seven years and is now in its decline stage. In this case, which of the following strategies would be successful in marketing NutriOats? a. Eliminate all nonessential marketing expenses and let sales decline. Eliminate all nonessential marketing expenses and let sales decline. To rate concept (or product) alternatives, concept tests are often used at the ______ stage. a. developmental screening Samsung is best known for its smartphones, tablets, and televisions. Years ago when it decided to expand its business activities and operations into ship building and military hardware, it was gearing to offer ______. a. new-to-the-world products new product lines Marketing costs are high in the introductory stage of the product life cycle because a. emphasis is given to communicating the differences among brands in the market. high dealer margins are often needed to obtain adequate distribution. Test marketing is very expensive. As a result which of the following is true of some companies? a. They mandatorily test market line extensions of well-known brands. They do not test market line extensions of well-known brands to save costs. Both demographics and behavior distinguish early adopters. False At the product development stage, it is premature to explore the feasibility of manufacturing the product at an acceptable. False A concept test evaluates an existing product idea, after the creation of a prototype. False, evaluates a new product idea Daily Farm, a food and beverage manufacturing firm, is known for its unique variety of table sauces. To offer more variations to its customers, Daily Farm recently launched an olive and pepper sauce. According to new product development, this new sauce would be categorized as an improved product False At which stage in the new-product development process is the decision to market a product made? Commercialization Sets with similar termsMARK CH 1139 terms dalvarez277 Chapter 999 terms Tutat chapter 993 terms student96712 Marketing Chapter 1144 terms clashp Sets found in the same folderMgmt 322 Quiz #6 Questions44 terms Dawson_Jariwala Chapter 14: Marketing Quiz20 terms coreysargent marketing ch 1430 terms Jacob_Chavez126 Marketing: Chapter 10 Quiz20 terms coreysargent Other sets by this creatorBusiness & Hospitality Test #1110 terms coreysargent Business Ethics Final Exam102 terms coreysargent Business Ethics Exam 340 terms coreysargent Business Ethics Exam II100 terms coreysargent Verified questionsQUESTION A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: $$ \begin{matrix} \text{ } & \text{0} & \text{1} & \text{2} & \text{3} & \text{4}\\ \text{Project S} & \text{- \$ 1.000} & \text{\$ 870} & \text{\$ 250} & \text{\$ 25} & \text{\$ 25}\\ \text{Project L} & \text{- \$1.000} & \text{\$ 0} & \text{\$ 250} & \text{\$ 400} & \text{\$ 845}\\ \end{matrix} $$ The company’s WACC is 8.5%. What is the IRR of the better project? (Hint: The better project may or may not be the one with the higher IRR.) Verified answer QUESTION Farley Inc. has perpetual preferred stock outstanding that sells for $30 a share and pays a dividend of$2.75 at the end of each year. What is the required rate of return? Verified answer
QUESTION Find the following values. Compounding/discounting occurs annually. a. An initial $200 compounded for 10 years at 4%. b. An initial$200 compounded for 10 years at 8%.c. The present value of $200 due in 10 years at 4%. d. The present value of$1,870 due in 10 years at 8% and at 4%. e. Define present value and illustrate it using a time line with data from part d. How are present values affected by interest rates? Verified answer
QUESTION Why might it be rational for a small firm that does not have access to the capital markets to use the payback method rather than the NPV method? Verified answer Other Quizlet setsEcon test 150 terms ryliebicknell Cardiovascular System: Vessels and Circulation27 terms winelizabeth Geology Chapter 1654 terms ethom49 MKT Exam20 terms addy_kielley Related questionsQUESTION This industry structure has quite a bit of control over pricing so much so as others can play ball 2 answers QUESTION True or False: Ambush marketing takes place when an organization is the sole sponsor of an event. 7 answers QUESTION Developed by national brand vendor and retailer and sold only by that retailer. 11 answers QUESTION ... are groups to which an individual wishes to belong, as when a young basketball player hopes to play someday for the Los Angeles Lakers. 4 answers What are the 7 stages of a new product development process?Table of Contents. Stage 1: Idea Generation.. Stage 2: Idea Screening.. Stage 3: Concept Development & Testing.. Stage 4: Market Strategy/Business Analysis.. Stage 5: Product Development.. Stage 6: Deployment.. Stage 7: Market Entry/Commercialization.. What is the new product development process in marketing?New product development (NPD) is a process of taking a product or service from conception to market. The process sets out a series of stages that new products typically go through, beginning with ideation and concept generation, and ending with the product's introduction to the market.
What is the final stage of the new product development process?Commercialization: The final step of the product development process is that of commercialization. Based on the information gathered during the test marketing process, the business management may either decide to go ahead with the launch of the product or put it on the backburner.
What are the 5 stages of product development?Five phases guide the new product development process for small businesses: idea generation, screening, concept development, product development and, finally, commercialization.. Phase One: Idea Generation. ... . Phase Two: Screening. ... . Phase Three: Concept Development. ... . Phase Four: Product Development.. |
At which stage in the new-product development process is the decision to market a product made?
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