19.1 Bus. Mgmt

What term is used to describe the type of research that aims to acquire new knowledge without any immediate application to a product in mind?

• Applied research

• Consumer panel

• Pure research

• Product development

Which term refers to the production process where goods are produced based on customer specifications?

• Mass production

• Custom manufacturing

• Continuous production

• Intermittent processing

What does CAD stand for in the context of manufacturing?

• Computer-aided design

• Consumer-aided design

• Custom-automated design

• Continuous-aided design

Which production type involves manufacturing products in large quantities without customization?

• Custom manufacturing

• Intermittent processing

• Mass customization

• Mass production

What is product development?

• The process of eliminating a product or service

• The process of marketing and selling a product or service

• The process of creating or improving a product or service

• The process of pricing a product or service

What is the purpose of a consumer panel in product development?

• To provide financial support for product development

• To offer opinions about a product or service

• To manufacture the product

• To distribute the product

What characterizes pure research in product development?

• Research focused on consumer needs

• Research done with a specific product in mind

• Research done without a specific product in mind

• Research based on competitor analysis

What is the focus of applied research in product development?

• Developing entirely new theories

• Studying existing product problems or possible design improvements for current products

• Analyzing market trends for future predictions

• Creating advertisements for new products

What is the first step in developing a new product?

• Build and test models of the product.

• Develop an idea for a new product that customers want to buy.

• Purchase raw materials.

• Promote, distribute, and sell the product.

Which of the following is NOT a part of turning an idea into a workable product design?

• Conduct product research.

• Build and test models of the product.

• Purchase raw materials.

• Determine what resources will be needed to produce large quantities of the product.