marketing CH 8
The stage in which product ideas are presented to groups of target consumers physically or symbolically is referred to as ________. A) concept testing B) concept development C) test marketing D) marketing strategy development E) crowdsourcing
A) concept testing
A product is in the introduction stage of the product lifecycle, and the company has to decide about the pricing strategy. Which of the following decision is the company most likely to take? A) use an aggressive price to increase market share B) go either with a skimming or a penetration pricing strategy C) do a price match D) set a price below the cost for a short period of time. E) No one of these
B) go either with a skimming or a penetration pricing strategy
Which of the following steps of the new product development process would most likely use an R-W-W framework? A) idea generation B) idea screening C) concept testing D) test marketing E) commercialization
B) idea screening
In which stage of the product life cycle will promotional expenditures be significantly high in an attempt to create consumer awareness of a product and its features? A) product development B) introduction C) growth D) maturity E) adoption
B) introduction
________ involves a review of the sales, costs, and profit projections for a new product to determine whether they satisfy a company's objectives. A) Vendor analysis B) Portfolio analysis C) Business analysis D) SWOT analysis E) Concept analysis
C) Business analysis
________ is the stage where a product and its proposed marketing program are introduced into realistic market settings. A) Market strategy development B) Concept testing C) Test marketing D) Concept development E) Business analysis
C) Test marketing
If a product passes both the concept test and the product test, the next step is most likely to be ________. A) marketing strategy development B) product development C) test marketing D) business analysis E) concept development
C) test marketing
In the ________ stage of new product development, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them. A) business analysis B) idea generation C) concept screening D) product development E) test marketing
D) product development
Which of the following statements is most likely true about the new product development process? A) The first step in developing a new product involves determining any budgetary or distribution limitations. B) Most firms discourage employees from contributing new product ideas because of legal concerns. C) In most cases, concept testing is followed by concept development. D) A product concept should be developed for each idea before it goes through idea screening. E) Customers, competitors, distributors, and suppliers are major sources of new product ideas.
E) Customers, competitors, distributors, and suppliers are major sources of new product ideas.
Which of the following is true about the introduction stage of a new product? A) Profits are typically high. B) Promotion spending is relatively low. C) Less money is needed to attract distributors. D) Companies tend to avoid basic versions of the product. E) Sales growth tends to be slow.
E) Sales growth tends to be slo
