1. When Hope Springs Water Co. was looking to complete the _________ phase, the company could have leveraged internal research, requested customer input, conducted a competitive analysis or sought collaboration with another organization.

a. market testing

b. development

c. screening and evaluation

d. idea generation

e. commercialization

2.

If Ju Li used a(n) ___________ approach to screening and evaluation, she would have employees evaluate the technical feasibility of selling the additive in addition to its bottled water products.

a. customer-driven

b. internal

c. external

d. potential threats

e. strengths analysis

3.

When Hope Springs develops its flavored water additive and uses the college town where Gabbie and Justin are students to gauge if there is ample product interest, the company is engaged in a _______.

a. segmented test market

b. simulated test market

c. geographic test market

d. controlled test market

e. standard test market

4.

_____________ is the new-product development phase where Hope Springs decides that the flavor additive has enough market interest and the company will launch full-scale production and sales.

a. Idea generation

b. Market testing

c. Commercialization

d. Development

e. Screening and evaluation

To develop new products and services efficiently, organizations go through a process to ensure that their products are ready for market. This process is meant to evaluate the interest of a product and helps increase the chances of success within the marketplace. Hope Springs Water Co. is using this process to identify opportunities to develop new complementary offerings to its bottled water. As Ju Li and her marketing team look for product-expansion opportunities, they are approached by a supplier who would like them to distribute a natural flavoring additive. Before they agree to distribute the new product, they need to ensure interest within the marketplace and that preliminary sales data support an expensive, national launch. By using the new-product development process, Hope Springs can make decisions on hard data and a structured process instead of guessing whether this new additive will be successful within the marketplace. The new-product process is a set of stages that an organization goes through to identify opportunities and convert them into profitable products or services. From idea generation and screening/evaluation to market testing and commercialization, the process increases the chances of new-product success within the marketplace