Study Plan - Chapter 9

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1.Which of the following is NOT classified as a new-product development effort? a.product modifications
b.product acquisitions
c.new brands developed through research and development
d.product improvements

2.Cracker Jack cereal, Exxon fruit punch, and Smucker's premium ketchup are all examples of which of the following? a.products that were designed with particular innovation
b.products that brought no value to the customer
c.new products that enjoyed modest success
d.products that attempted to "stretch a good name"
e.products whose lifecycles were lengthened by changing the marketing mix

3.Far more new products fail than succeed.
a.True
b.False

4.New products are important to companies because they are a key source of growth. a.True
b.False

5.In addition to formal research and development, a company can internally generate new product ideas through which of the following? a.trade magazines
b.customers
c.suppliers
d.competitors
e.intrapreneurial programs

6.Which of the following are included in the marketing strategy development step of the new-product development process? Please select all answers that apply. a.describing a target market
b.planning a value proposition
c.describing a marketing mix strategy
d.generating product ideas
e.creating a physical prototype
f.identifying short-term and long-term profit goals
g.planning the product's price

7.Business analysis involves a review of the sales, costs, and profit projections of competing products. a.True
b.False

8.Write in the correct word to complete each definition.
a.In the ____ stage, a company introduces its new product into the market.__________ b.In the ____ stage, R&D or engineering creates a physical product.__________ c.In the ____ stage, the product and marketing program undergo a trial period in realistic market settings.__________

9.Customer-centered new-product development focuses on identifying...
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