Chapter 8 Product Development

Which of the following phase involve selecting the best idea and dropping poor ideas?

• Idea generation

• Business Analysis

• Market strategy development

• Idea screening

Which of the following phases are in the product life cycle?

• Product development

• Introduction

• Growth

• Product replacement

Maturity is the period where

• Profits are nonexistent in this stage because of the heavy expenses of product introduction.

• rapid market acceptance and increasing profits.

• Profits level off or decline because of increased marketing outlays to defend the product against competition.

• sales fall off and profits drop.

Which customers are often buy during the introduction of new product?

• Laggards

• Middle majority

• Early adopters

• Innovators

Declining is the period where

• Profits are nonexistent in this stage because of the heavy expenses of product introduction.

• rapid market acceptance and increasing profits.

• Profits level off or decline because of increased marketing outlays to defend the product against competition.

• sales fall off and profits drop.

Which customers are often buy during the declining stage of new product?

• Laggards

• Middle majority

• Early adopters

• Innovators

Business analysis includes

• review of the sales

• review of the costs

• profit projections

Which of the following stages involve transforming a product concept into a physical product to offer workable market offering?

• Business analysis

• Product development

• Marketing strategy development

• Concept development and testing

Game Freak wish to introduce a new product into the market. First, they need to

• screen ideas

• brainstorm ideas

• conduct business analysis

• develop marketing strategy

The ideas generation can come from

• employees

• customers

• competitors

• government