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Exam Name___________________________________ MULTIPLECHOICE.Choosetheonealternativethatbestcompletesthestatementoranswersthequestion. In a sequential new product development process,whichofthefollowingistrueoftheproduct developmentstep? Productdevelopmentisusuallyfollowedbytest marketing. Productdevelopmentinvolvesintroducingaproductintorealisticmarketsettings. Productdevelopmentisusuallyfollowedbyabusinessanalysisofthe product. Productdevelopmenthelpstopmanagementreviewprofitprojections. Productdevelopmentavoidstestingproductsonactualcustomersduetoliability concerns. Whichofthefollowingistrueofthegrowthstageoftheproductlifecycle? Newcompetitorsavoidthemarket. Salesstartclimbing quickly. Pricestendtoincreasesignificantly. Profitsarenonexistentatthisstage. Earlyadoptersstopbuyingtheproduct. ________givesmanagement theinformationneededtomakeafinaldecisionaboutwhetherto launchthenewproduct. In the ________ stage, a firmmost likely facesa trade-off between high market shareandhigh currentprofit. EvansandHills,abeveragesmanufacturingcompany,hasdevelopedanewline ofspecialty teasandisseekingregularinputfromthetestmarketingprocess.Tofacilitatethisprocess,the firmusesBuyerScan,asoftwarethatgenerates store-by-store, week-by-weekreportson the actualsalesoftestedproductsandtheimpactof in-storeandin-home marketing efforts.Which of the followingapproaches does this scenario illustrate? Which of the following is a step in the new product development process?Although the product development process differs by industry, it can essentially be broken down into seven stages: ideation, research, planning, prototyping, sourcing, costing, and commercialization.
In which stage of the product development process would brainstorming sessions occur?Stage 1: Idea Generation
The goal should be to generate many worthy ideas that can form the foundation for the New Product Development strategy. The major focus for stage 1 should be to arrange brainstorming sessions where solving customer problems is given precedence.
Which of the following is are a part of new product development process idea generation concept development and testing both A and B None of above?The seven stages of the new product development process are: Idea Generation, Idea Screening, Concept Development and Testing, Business and Marketing Strategy Development, Product Development, Test Marketing, and Commercialization.
Which of the following are among the best sources for finding new product ideas?Internal ideas are generated through product team brainstorming, external ideas usually come from communication with suppliers, customers and competitors, and idea generation exercises.
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