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Chapter 8

New-Product Development and Product Life-Cycle Strategies

Multiple-Choice

1. _____ is the development of original products, product improvements, product modifications, and new brands through the firm’s own R&D efforts.
a.Idea generation
b.Concept testing
c. Test marketing
d. New product development
Answer: (d) Difficulty: (1) Page: 264

2. All of the following are different ways a firm can obtain new products, except which one? a. By acquiring a whole new company
b. A firm can obtain a new product through patents
c. A firm can obtain a new product by licensing someone else's new product d. A firm can obtain a new product by using the R&D department of other firms in the same industry. Answer: (d) Difficulty: (2) Page: 264

3. All of the following are accurate descriptions of reasons why new products fail, except which one? a. Although the market size was correctly estimated, the product idea itself was not good. b. The actual product was not designed as well as it should have been. c. The new product was priced too high.

d. The new product was advertised poorly.
Answer: (a) Difficulty: (3) Page: 264

4. All of the following are accurate descriptions of ways companies are anxious to learn how to improve the odds of new-product success, except which one? a. Find out what successful new products have in common. b. To learn lessons from new product failures.

c. Companies have to learn to understand their own consumers. d. Do not overly rely on product innovation when you can succeed by copying others. Answer: (d) Difficulty: (3) Pages: 262-264

5. New-product development starts with _____.
a. idea screening
b. idea generation
c. concept development and testing
d. marketing strategy development
Answer: (b) Difficulty: (2) Page: 265

6. _____ is the systematic search for new-product ideas.
a. Idea generation
b. Idea screening
c. Concept development and testing
d. Marketing strategy development
Answer: (a) Difficulty: (1) Page: 265

7. All of the following are major internal sources of new-product ideas, except which one? a. Picking the brains of company executives, scientists, engineers and salespeople is a good way to generate ideas. b. Intrapreneurial programs that encourage employees to think and develop new-product ideas is a good way to generate ideas. c. Some companies employ creative approaches, including both "method and madness" in helping them to generate new product ideas. d. Good ideas come from watching and listening to customers. Answer: (d) Difficulty: (3) Page: 266

8. Major sources of new product ideas include _____.
a. internal sources, using company R&D
b. creative approaches, using both "method and madness" approaches c. watching and listening to customers
d. all of the above are sources of new product ideas Answer: (d) Difficulty: (2) Page: 266

9. All of the following are major external sources of new-product ideas, except which one? a. Companies can conduct surveys or focus groups to learn about consumer needs and wants. b. Competitors are a good source of new-product ideas. c. Some companies employ creative approaches, including both "method and madness" in helping them to generate new product ideas. d. Good ideas come from watching and listening to customers. Answer: (d) Difficulty: (3) Page: 266

10. All of the following are accurate descriptions of new product ideas, except which one? a. New product development starts with idea generation. b. Some companies use brainstorming exercises that expand people's minds and generate new ideas around the client's problem. c. At...
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