MRK202 CH 8 : New product development Student Name ID # Date 1. What are the four stages in the product life cycle? How do they differ in terms of sales and profits? How do high-learning and low-learning products differ? What is the shape of the product life cycle for a smartphone in today's marketplace? 2. 3 4 What approaches can be used to extend a product's life cycle? 5. Describe the three types of product innovations and explain which ones are most common. 6. What type of innovation are electric cars? 7. How does the adoption curve applyr to the diffusion of new products in the marketplace? 8. 9. What are the main reasons that new products fail? What occurs in the screening and evaluation step of the new product development process? 10. What is the purpose of the business analysis step in the new product development process? 11. What are the advantages and disadvantages of a test market