Chapter 9 (10 Questions)

Which of the following statements regarding the growth stage of the product life cycle is​ correct?

Companies face a​ trade-off between high market share and high profits.

A temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity is called​ a(n) __________.

Fad

If a company finds that a new product concept is acceptable and should be moved​ forward, what is the next step in the new product development​ process?

Marketing strategy development

Which of the following would be an appropriate strategy during the maturity stage of the product​ lifecycle?

Modify the​ market, product​ offering, or marketing mix.

At which stage of the new product development process is a physical product first​ developed?

Product development

Which of the following statements regarding standard test marketing is​ correct?

Test marketing can be costly and delay commercialization of the product.

What must companies do to create successful new​ products?

Understand its​ consumers, markets, and competitors and develop products that deliver superior value.

During the idea generation stage of the new product development​ process, it is important that​ __________.

companies create a large number of ideas

Installing an innovation management system to​ collect, review,​ evaluate, and manage new product ideas represents​ a(n) __________ approach to new product development.

systematic

To succeed in​ France, McDonalds had to​ __________.

tailor their operations to local French preferences