Product Management - Chapter Two

The new products process essentially turns a profit flow into an opportunity.

• True

• False

The development and launch phase of the new products process comprise what is popularly called the "fuzzy front end".

• False

• True

One of the benefits of accelerating time to market is that the product will be on the market for a longer period of time before becoming obsolete.

• False

• True

A recommended way to cope when facing a high-turbulence environment is to encourage inflexibility by freezing a product concept until the last possible moment.

• False

• True

As opposed to goods, services are mass produced

• False

• True

Firms that launch new-to-the-world products into the market incur a significantly lower long-term survival rate than those that enter the market later.

• False

• True

Technology-driven innovation doesn't really solve a customer problem, and therefore there is no application that can be brought to market.

• True

• False

Which of the following phases of the new products process involves selecting a high potential opportunity and beginning customer involvement?

• Product launch

• Product development

• Concept evaluation

• Concept generation

Designing and validating the production process for the best prototype takes place during the _____ phase of the new products process.

• launch

• concept generation

• project evaluation

• development

Acron Co.'s new products team is engaged in the new products process. The members of the team select a high potential opportunity and begin creating new product ideas by identifying problems businesses or people have and suggesting solutions to them. Which of the following phases of the new products process will the team enter next?

• The product development phase

• The product launch phase

• The concept generation phase

• The concept or project evaluation phase