Chapter 9: New Product Development and Product LifeCycle Strate

Involves cultural trends and observing customer behaviors.

• introducing the product
• evaluating acceptance
• testing the product
• generating ideas

Eliminating possibilities until one or two ideas are selected for development.

• generating ideas
• introducing the product
• screening ideas
• evaluating customer acceptance

A prototype is made and tested.

• testing the product
• generating ideas
• screening ideas
• evaluating customer acceptance

Evaluates proposed product in terms of size of market, potential sales, costs, profit potential, technology, the competition, and the level of risk involved.

• screening ideas
• business proposal
• testing the product
• introducing the product

Companies make plans relating to production, packaging, labeling, branding, promotion, and distribution.

• Testing the product
• evaluating customer acceptance
• developing the product
• generating ideas

This stage is also called "commercialization". New products are advertised to introduce benefits to consumers.

• Developing the product
• Developing a proposal
• Testing the product
• Introducing the product

Marketers track customer responses to the product.

• Evaluating customer acceptance
• Testing the product
• Developing the product
• Testing a product proposal

New product development generally involves ______ key steps.

• 9
• 10
• 8
• 5

Creativity is essential in this step of new product development.

• Testing the product
• Generating ideas
• Development of the product
• Introduction of the product

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

• Idea generation
• Market strategy development
• Business Analysis
• Idea screening