MS_Module 2

The first stage in the New Product Development process is:

• Commercialization

• Screening

• Idea Generation

• Market Testing

Which of the following is NOT a common reason for new product failure?

• • Poor market research

• • Strong alignment with customer needs

• • Overestimation of market size

• • Poor timing of launch

In the NPD process, the stage where product ideas are critically evaluated to eliminate weak ones is:

• • Test Marketing

• • Business Analysis

• • Screening

• • Commercialization

SWOT analysis helps in:

• • Understanding only external opportunities

• • Identifying strengths, weaknesses, opportunities, and threats

• • Evaluating only marketing strategies

• • Measuring product profitability

Which of the following is an external factor considered in SWOT analysis?

• • Strength

• • Weakness

• • Opportunity

• • Core competency

In the PARTS framework, “A” stands for:

• • Advantage

• • Added Value

• Analysis

• Assets

Test marketing in NPD is primarily done to:

• • Finalize brand name

• • Estimate market response before large-scale launch

• • Reduce product cost

• • Generate new ideas

A mistake in new product development occurs when:

• • Product is differentiated from competitors

• • Company ignores customer feedback

• • Company studies competitors’ weaknesses

• • Product is tested before launch

In the PARTS framework, “T” refers to:

• • Threats

• • Tactics

• Ties

• • Timing

Commercialization in NPD refers to:

• • Analyzing cost-benefit ratio

• • Launching the product in the market with full-scale production and marketing

• • Testing product prototype internally

• • Conducting only promotional activities