New Product Development

New Product Development

10th - 12th Grade

8 Qs

quiz-placeholder

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New Product Development

New Product Development

Assessment

Quiz

Business

10th - 12th Grade

Medium

Created by

del dsilva

Used 34+ times

FREE Resource

8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one of the following is a claimed benefit of developing new products?

It is cheap to develop new products

The latest technology can be a feature of new products

Customers always prefer newly developed products

It gives a business a big advantage because competitors will not be developing new products

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

All of the following are features of successful products except:

a product that is not so expensive to produce that the price is higher than consumers are willing to pay

a product that satisfies the needs of consumers

a product that is well designed and is of the quality expected by consumers

a product that is sold at a price below cost of production

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The following are all stages in the development of a new product. Which option below puts these in the order in which the stages should be carried out?

i) Launch the product into the whole market.

ii) Develop and test a prototype of the new product.

iii) Create new ideas for the product.

iv) Research into costs, methods of production and likely sales.

i), iii), iv), ii)

ii), iv), i), iii)

ii), iv), i), iii)

iii), iv), ii), i)

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

All of the following are accurate descriptions of ways companies are trying to learn how to improve the odds of new-product success, except which one?

Find out what successful new products have in common

To learn lessons from new product failures

Companies have to learn to understand their own consumers

Do not overly rely on product innovation when you can succeed by copying others

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

New-product development starts with _____.

Idea screening

Idea generation

Concept development and testing

Marketing strategy development

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The first idea reducing stage is ____________, which helps spot good ideas and drop poor ones as soon as possible.

Idea generation

Idea Screening

Concept development and testing

Marketing strategy development

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Products may fail because

The market size may have been overestimated

The product's design did not meet consumer expectations

The product was priced too high

The product was advertised poorly

Any of the above

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Major sources of new-product ideas include internal sources and external sources. All of the following are the External sources of business ideas EXCEPT:

Suppliers

Customers

Owners

Competitors