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Exam 7: New Product Planning and Development

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Question 21

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 Rita is a successful entrepreneur who owns a small coffee shop.She serves her customers her own homemade brew of coffee.Recently she developed a new tasty brew and gave free samples of this to her regular customers.She then got them to give their feedback.This is an example of _____.

A)  brand positioning
B)  test marketing
C)  commercialization
D)  product development

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Question 22

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 Healthfood Inc.manufactures jelly,made out of gelatin (a colorless,edible protein) in various fruit flavors.However,the sale of its current line of flavored jelly has significantly fallen.The company discovers that women used powdered gelatin dissolved in acetylene (a liquid,organic compound) to strengthen their fingernails.It introduces a flavorless jelly as a nail-building agent in an attempt to boost profits.Identify the product category involved. 

A)  Additions to existing product lines
B)  Improvements and revisions of existing products
C)  Repositionings
D)  New-to-the-firm products

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Question 23

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 "Details" magazine was introduced to the market as a raw and bold "underground nightlife magazine." Sales were low,so the publisher of the magazine relaunched it as a fashion and lifestyle magazine for 20-something males.In which of the following new product categories would this product fall? 

 The product-launch step where the firm commits to introducing the product into the marketplace is referred to as _____.

Helen is an engineer who is part of a cross-functional team that is trying to design a new product.Before she was assigned to the team,Helen had been placed in a retail sales position on a temporary basis.The company had hoped that direct contact with customers and the company's competitors would help her better understand current market needs,which would in turn lead to the development of successful new products.Which of the following mechanisms was Helen's company trying to implement?

 The Wearhouse was engaged in the design,manufacture,and sale of high-end apparel for women.It sold its merchandise directly to consumers via the Internet.However,it was unable to retain customers as it could not generate the emotional appeal associated with the tangibility of clothes and the ambience of a high-end apparel store that customers demanded.The company's sales dipped and it had to be shut down.Identify the major reason for failure. 

Which of the following statements about the importance of time to market is true? 

What is the main goal of a test market? 

What is a strategic alliance?

 In which stage of the new product development process is a development budget established and some preliminary marketing and technical research undertaken? 

 Establishing progress goals that facilitate the "proceed" or "do not proceed" decisions regarding continuation of projects is an integral part of managing the _____ risk of new product development.

When the product reaches the _____ stage of the new product development process,the new product idea has been evaluated from the standpoint of engineering,manufacturing,finance,and marketing.

 _____ is a method of creating and managing the project teams,where groups in different areas of the company simultaneously work on the project.

 For the last decade,Green Giant has sold frozen vegetables in various types of sauces.In 2002,the company changed its packaging and began offering frozen vegetables in resealable bags with separate frozen sauce pellets.In which of the new product categories would this new method of packaging frozen vegetables fall? 

 Which of the following should be specified by the policy-making criteria on new products?

 Which of the following refers to developing new products and cultivating new markets? 

 Which of the following indicates the direction in which the organization is moving with respect to its current products and markets? 

 Which of the following is an example of a product development strategy? 

_____ risk is the risk that a new product will not be developed within the desired time and budget.

 What does strategic risk involve?