MKT W7

New product development stats with ____

• Idea screening

• Idea generation

• Concept development

• Concept testing

• Test Marketing

The creation of a successful new product depends on a company’s understanding of its ____ and its ability to deliver ____ to customers

• customers, competitors and markets; supeior value

• customers, brands and products; product images

• competitors, distibutors and employees; new styles

• product, marketing mix and marketing strategy; functional features

Executives, manufacturing employees, and salespeople are all examples of ____

• external sources for new-product ideas

• R&D team members

• core members of innovation management systems

• internal sources for new product ideas

According to your text, which of the following is perhaps the most important external source of new-product ideas?

• engineers

• distributors and suppliers

• competitors

• customers

 GrayBey Gifts has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage, called ____, to arrive at a realistic number to pursue.

• idea generation

• idea screening

• concept testing

• concept development

Testing new-product concepts with small groups of target consumers is known as ____

• concept development

• focus group research

• concept testing

• test marketing

Once managers of a firm have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ____ stage of the new product development process.

• business feasibility

• feasibility study

• concept testing

• product acceptance

• business analysis

 A product which falls in and out of favor with customers quickly is called a ____

• Style

• Fad

• Product idea

• Fashion

 For marketers, the PLC concept is a useful framework for describing how ____

• to forecast product performance

• to develop marketing strategies

• products and markets work

•  concept testing is conducted

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

• product development

• introduction

• growth

• maturity