Quiz on Developing Products

What is a new product?

• A product that has been on the market for years

• A product that has no competition

• A product that is a new invention or creation

• A product that is only available in one region

Which of the following is NOT a characteristic of new products?

• Relative advantage

• Complexity

• Compatibility

• Popularity

What is the first step in the new product development process?

• Concept testing

• Profitability analysis

• Test marketing

• Idea generation

Which type of new product is a new addition to a manufacturer's existing range?

• Improved products

• Repositioned products

• Line extensions

• New-to-the-world products

What is the purpose of idea screening in the product development process?

• To analyze profitability

• To test product concepts

• To eliminate inconsistent ideas

• To generate new ideas

Which category of adopters includes the first 2.5% of consumers?

• Innovators

• Laggards

• Early majority

• Late majority

What is the main focus of the consumer adoption model?

• Categorizing consumer behavior

• Understanding market trends

• Identifying product features

• Analyzing competitor strategies

What is the final step in the new product development process?

• Commercialization

• Test marketing

• Product development

• Profitability analysis

Which of the following is a factor that minimizes the risk of new products?

• High cost

• Limited communication

• Complexity

• Divisibility

What is essential for ensuring the success of new product development?

• Ignoring customer needs

• Coordinating research and marketing

• Focusing solely on profits

• Avoiding risk-taking