Marketing- Chapter 8

Fads

The Ferbie, Chia Pets, Magic 8 Ball, and Silly Bandz are all examples of _______?

target market, planned value proposition, and sales goals

The first part of a marketing strategy statement describes the ________ of a new product.

idea generation

The new product development process usually starts with ________.

concept testing

The stage in which product ideas are presented to groups of target consumers physically or symbolically is referred to as ________.

cross-functional teams

The team-based new product development approach saves times and increases effectiveness because departments work closely together in ________.

idea screening

Which of the following steps of the new product development process would most likely use an R-W-W framework?

Test Marketing

________ is the stage where a product and its proposed marketing program are introduced into realistic market settings.

suppliers

A company's external sources of new product ideas include its ________.

product concept

A detailed version of a product idea stated in meaningful consumer terms is a ________.

decline

A product life cycle has five distinct stages: product development, introduction, growth, maturity, and ________.

Decline

During the ________ stage of the product life cycle, product sales may plunge to zero, or drop to a low level where they continue for many years

Fad

Flurrbies, a line of winter accessories by a leading fashion label, quickly fell in and out of favor with customers. Flurrbies represents an example of a ________.

Internal Ideas

Google's Innovation Time-Off Program, where employees get one day out of the week to work on products ideas is an example of ______?

real

In the R-W-W framework for the idea screening stage, what does the "R" stand for?

crowdsourcing

Kallton is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its Web site that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Kallton is using ________ to generate new product ideas.