Give the right choices and back each up with lengthy explanations

1) What are the two ways that a company can obtain new products?

A) line extension and brand management

B) internal development and brand management

C) new-product development and acquisition

D) service development and product extension

E) market mix modification and research and development

2) Product improvements, product modifications, and original products can all be classified as

________.

A) pioneer products

B) new products

C) product concepts

D) product ideas

E) test products

3) Which of the following is NOT a potential reason for a new product to fail?

A) an underestimated market size

B) a poorly designed product

C) an incorrectly positioned product

D) higher than anticipated costs of product development

E) ineffective advertising

4) Which of the following is NOT a challenge presented by the product life cycle that a firm

must face?

A) All products eventually decline.

B) Changing tastes, technologies, and competition affect the marketing of the product as it passes

through lifecycle stages.

C) A firm must be good at developing new products to replace aging ones.

D) A firm must be good at adapting its marketing strategies.

E) It is difficult to plot the stages as a product goes through them.

5) The creation of a successful new product depends on a company's understanding of its

________ and its ability to deliver ________ to customers.

A) competitors, distributors, and employees; new styles

B) customers, brands, products; product images

C) customers, competitors, and markets; superior value

D) product, marketing mix, and marketing strategy; functional features

E) product life cycle, legal responsibilities, and social responsibilities; innovations

6) New product development starts with ________.

A) idea generation

B) idea screening

C) concept development

D) concept testing

E) test marketing

7) Executives, manufacturing employees, and salespeople are all examples of ________.

A) external sources for new-product ideas

B) internal sources for new-product ideas

C) core members of innovation management systems

D) research and development team members

E) new-product committee members

8) Your company decides to use internal sources for developing new product ideas. Which of the

following would NOT be consulted?

A) executives and professionals

B) company records and data

C) intrapreneurial programs

D) suppliers

E) salespeople

9) Which of the following is perhaps the most important external source of new-product ideas?

A) engineers

B) customers

C) competitors

D) trade magazines, shows, and seminars

E) distributors and suppliers

10) Which of the following is NOT a recommended method for companies to tap into their

customers as sources for new-product ideas?

A) analyzing customer complaints and questions

B) relying heavily on customers to know what types of technical products they need

C) working alongside customers to get ideas and suggestions

D) turning customers into cocreators

E) putting customer-created products on the market

11) Your firm asks you to consult external sources for new product ideas. All of the following are

common external sources EXCEPT ________.

A) customers

B) suppliers

C) competitors

D) trade shows and magazines

E) the firm's executives

12) The purpose of idea generation is to create ________ number of ideas. The purpose of

succeeding stages is to ________ that number.

A) small number; reduce

B) small number; increase

C) large number; increase

D) large number; reduce

E) limited number; sustain

13) GrayBerry Gifts has just brainstormed a large number of ideas for adding new products and

services after visiting several buying fairs. The owners will begin the first idea-reducing stage,

called ________, to arrive at a realistic number to adopt.

A) business analysis

B) idea generation

C) concept testing

D) idea screening

E) concept development

14) Which of the following is most likely to be included in an executive's write up of a new-

product idea to be presented to a new-product committee?

A) the proposed customer value proposition

B) the product image

C) the marketing strategy

D) the business analysis

E) the planned marker rollout

15) A detailed version of a new idea stated in meaningful customer terms is called a ________.

A) product idea

B) product concept

C) product image

D) product proposal

E) product movement