Principles of Marketing Study Set 8

Business

Quiz 7 :

Developing and Managing Offerings

Quiz 7 :

Developing and Managing Offerings

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The size of a company will affect how the different stages of their new product development process are conducted.
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True False
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True

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Idea generation is typically the most expensive step in the process of developing new offerings.
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True False
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False

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Testing is a relatively inexpensive step in the product development process.
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True False
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False

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Customers who are good at generating new product ideas or applications of products are called _____.
Multiple Choice
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In the idea screening stage,companies evaluate new offerings by determining:
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New product ideas typically move down the supply chain.
True False
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In B2B markets,customers are typically a large source of new product ideas.
True False
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Depth interviews involve gathering eight to twelve consumers and gauging their reaction to a product/service concept.
True False
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Focus groups are conducted after the testing stage of the new offerings development process.
True False
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In which of the following stages of the new product development process does concept testing occur?
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Milestones utilized by companies to evaluate product performance are typically the same within an industry.
True False
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A line extension occurs when a company comes out with another model based on the same _____ and _____ as one of its other products.
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The risk that there is a better idea that gets ignored because the firm has invested in the idea at hand is known as opportunity risk.
True False
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The purpose of concept testing is to get early consumer feedback before investing too much money in an offering that won't work.
True False
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A rolling launch might make sense if the company's service technicians need training.
True False
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_____ is the process of obtaining product ideas,funding,and other contributions online from large numbers of people.
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The purpose of idea screening is to try to avoid mistakes early in the development process.
True False
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Financial feasibility is the degree to which the company can actually make and service the product.
True False
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Quality function deployment is the process whereby a company starts with the innovation and then designs an offering.
True False
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Most companies put new offering ideas through a seven-step process.
True False
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