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

Quiz
•
Business
•
10th - 12th Grade
•
Medium
del dsilva
Used 34+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
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