CH. 9
Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of a(n) ________.
acquisition
Which of the following involves costs that most likely occur during the commercialization stage of new product development?
building or renting a manufacturing facility
A review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company's objectives is called a ________.
business analysis
Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new product development process.
business analysis
Which of the following is an internal source for new product ideas?
company excutives
Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be management's next step?
develop a planned market rollout over time
According to the text, the search for new product ideas should most likely be ________.
hoilstic
A company can install a(n) ________ management system to collect, review, evaluate, and manage new product ideas.
innovation
Many companies have developed ________ programs that encourage employees to develop new product ideas.
intrapreneurial
Which of the following is a disadvantage of a team-based approach to new product development?
it results in organizational confusion and tension
Product improvements, product modifications, and original products can all be classified as ________.
new products
Which of the following is included in the second part of the marketing strategy statement?
planned price
In the ________ stage of the new product development process, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them.
product development
A particular firm added three new products earlier this year to increase variety for customers. Two of the products failed to reach the minimal sales quota. Which of the following is LEAST likely to have been the cause of their failure?
product research was too extensive
A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way to approach this problem proactively. They came up with an idea for a pair of blurry goggles. They believed looking through the goggles would simulate what the world looks like when someone is seriously intoxicated. They developed a crude pair of blurry goggles to show prospective customers. This crude pair of goggles is known as a ________.
prototype
Which of the following is the goal of the team-based new product development approach when it uses cross-functional teams that overlap the steps in the process?
save time and increase effectiveness
________ is a new product development approach in which one company department works to complete its stage of the process before passing the new product along to the next department and stage.
sequential product devlopment
In a ________, new products and marketing tactics are tested online in a virtual shopping environment.
simulated test market
What is included in the first part of a marketing strategy statement?
target market description
Acquisition refers to ________.
the buying of a whole company, a patent, or a license to produce someone else's product
Which of the following is included in the third part of the marketing strategy statement?
the planned long-run sales
Which of the following would most likely be included in an executive's write up of a new product idea to be presented to a new product committee?
the proposed customer value proposition
Which of the following is the most likely reason that employees regularly attend trade shows and seminars?
to get new product ideas
Which of the following is the most likely circumstance for a company to decide to do little or no test marketing?
when the costs of developing and introducing the product are low
A company getting ready to launch a new product must make several decisions. The company must first decide on ________.
when to introduce the product