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Exam 11: New Products

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Question 31

Multiple Choice

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The Alpha Corporation is just beginning to experience new competitors attempting to draw sales from its latest new product. Alpha's product is MOST likely to be entering its:

A) introduction.
B) growth.
C) maturity.
D) decline.
E) demise.

F) A) and C)
G) A) and E)

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Question 32

Multiple Choice

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An industrial marketer asks a select group of potential customers to agree to use the new product for a limited time. This type of test marketing is known as a:

A) controlled test market.
B) trade show test.
C) dealer display.
D) product- use test.

E) B) and D)
F) C) and D)

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Question 33

Multiple Choice

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A detailed version of a new product idea, stated in meaningful customer terms is known as a(n) :

A sales manager is currently involved in reviewing sales projections and cost estimates associated with several potential new products. The analysis would most accurately be described as:

Omega Inc. has put together a cross- functional working group to manage a new product concept from concept development through to commercialisation. The team consists of representatives from sales, marketing, production, R & D, Logistics and Human Resources. Omega Inc.'s approach to new product development is BEST described as:

The stage of the product adoption process in which consumers consider whether trying a new product makes sense is known as:

The stage of the new product development process that attempts to reduce the number of ideas and identify those ideas with potential for further development is known as:

Test marketing is often described as a form of insurance. Explain.

Briefly describe the role of business analysts in the product development process. What is the most difficult task faced by the marketer during business analysis?

Under which conditions should a marketer consider investing in the cost of test marketing?

During the introduction stage of the PLC, the innovating firm is actually "investing" in the future of the new product.

The costs associated with test marketing are relatively modest.

A study of 200 moderate- to- high- technology new- product launches found that the single most important success factor is:

Of the five adopter groups, the innovators are the most venturesome.

If a firm can afford to retain its declining product until major competitors withdraw from the market, it may enjoy several more years of satisfactory profits.

An international brand marketer has decided to launch its new product in New Zealand first. Providing that the product proves to be successful in NZ, the product will be released in Malaysia before tackling Australia, Indonesia and Thailand. This process is known as:

The HiTech company operates in the technology sector and is considering offering more customised solutions to its clients. This company is MOST likely in which stage of the product life cycle?

A marketer of new shower screens with a Teflon coating that is stain resistant asks a panel of consumers, "Do you understand how the addition of Teflon will benefit you?" and "Would this type of shower closure solve a cleaning problem for you?" This marketer is in which stage of new product development?

List and briefly explain the stages of the new product development process.

Testing new consumer products in situations like those that will be faced during full scale launch takes place in test markets called: