People who are surveyed tend to tell less than the truth.
Bonneville Communications is concerned about test marketing its new device. Which of the following is NOT a disadvantage of test marketing that would likely concern Bonneville Communications?
product development
In the _____ stage of new-product development, products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.
where
Following the decision to "time" the introduction of the new product, a company must decide _____ to launch the new product.
commercialization
Introducing a new product into the market is called _____.
It is difficult to plot the stages as a product goes through them
Which of the following is NOT a challenge presented by the product life cycle that a firm must face?
Idea generation
New product development starts with _____.
When the costs of developing and introducing the product are low
Under what circumstances might it be wise for a company to do little or no test marketing?
new-product development and acquisition
What are the two ways that a company can obtain new products?
when to time the new product introduction
A company getting ready to launch a new product must make several decisions. The company must first decide on _______.
the costs of a major mistake
Although test marketing costs can be high, they are often small when compared with _____.
an underestimated market size
Which of the following is NOT a potential reason for a new product to fail?
Concept testing
_____ calls for testing new-product concepts with groups of target customers.
market share
The first part of the marketing strategy statement describes the target market; the planned product positioning; and goals for sales, profits, and _____.
customers, competitors, and markets ; superior value
The creation of successful new product depends on a company's understanding of its _____ and its ability to deliver _____ to customers.
large number; reduce
The purpose of idea generation is to create a _____ number of ideas. The purpose of succeeding stages is to _____ that number.
product image
A _____ is the way consumers perceive an actual or potential product.
relying heavily on customers to what types of technical products they need
Which of the following is NOT a recommended method for companies to tap into their customers as sources of new-product ideas?
idea screening
BrayBerry Gifts has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage, called _____, to arrive at a realistic number to adopt.
customers
Which of the following is perhaps the most important external source of new-product ideas?
internal sources for new-product ideas
Executives, manufacturing employees, and salespeople are all examples of _____.
the proposed customer value proposition
Which of the following is most likely to be included in an executive's write up of a new-product idea to be presented to a new-product committee?
marketing strategy development
After concept testing, a firm would engage in which stage in developing and marketing a new product?
marketing budget
The second part of the marketing strategy statement outlines the product's planned price, distribution, and _____ for the first year
short-run sales
The third part of the marketing strategy statement includes all of the following EXCEPT _____.
suppliers
Your company decides to use internal sources for developing new product ideas. Which of the following would NOT be consulted?
physical and symbolic
In the concept testing stage of new-product development, a product concept in _____ form is presented to groups of target consumers.
new product
Product improvements, product modifications, and original products can all be classified as _____.
the firm's executives
Your firm asks you to consult external sources for new product ideas. All of the following are common external sources EXCEPT _____.
product concept
An attractive idea must be developed into a _____.
product concept
A detailed version of a new idea stated in meaningful customer terms is called a _____.
target customers
With what groups do firms conduct concept testing for new products?
concept tests
For some _____, a simple description consisting of a word or picture might be sufficient.