Product Design And Value Engineering Set 6

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This set of Product Design and Value Engineering Multiple Choice Questions & Answers (MCQs) focuses on Product Design And Value Engineering Set 6

Q1 | In the concept testing stage of new-product development, a product concept in ________ form is presented to groups of target consumers.
  • final
  • prototype
  • market-tested
  • physical or symbolic
  • commercial
Q2 | Mattel's Barbie is an example of an age-defying product. Barbie, simultaneously timeless and trendy, is in the ________ stage of the PLC.
  • introduction
  • decline
  • maturity
  • growth
  • adoption
Q3 | Most products in the marketplace are in the ________ stage of the product life cycle.
  • growth
  • introduction
  • decline
  • maturity
  • development
Q4 | Sales decline in the decline stage of the PLC because of technological advances, increased competition, and ________.
  • marketing mix modifications
  • shifts in consumer tastes and preferences
  • shifts in the economy
  • new market pioneers
  • shifts in unemployment
Q5 | Schmidt Steel Corporation lacks the confidence, capital, and capacity to launch its new steel product into full national or international distribution. Even though test market results look promising, what will be management's next step?
  • develop a prototype
  • retest the product in additional markets
  • develop a planned market rollout over time
  • seek the help of a nationally known consultant
  • secure a loan to provide confidence, capital, and capacity
Q6 | The advantages of standardizing an international product include all of the following except ________.
  • the adaptation of products to different markets
  • lower product design costs
  • decreased manufacturing costs
  • lower marketing costs
  • the development of a consistent image
Q7 | The major purpose of test marketing is to provide management with the information needed to make a final decision about ________.
  • whether to launch the new product
  • which market to compete in
  • how to develop a market strategy
  • how long to compete in the market
  • how to compete in the market
Q8 | The PLC concept can be applied by marketers as a useful framework for describing how ________.
  • to develop marketing strategies
  • concept testing is conducted
  • to forecast product performance
  • products and markets work
  • product ideas are developed
Q9 | The search for new-product ideas should be ________ rather than haphazard.
  • intermittent
  • seldom
  • segmented
  • systematic
  • strategically planned
Q10 | The second part of the marketing strategy statement outlines the product's planned price, distribution, and ________ for the first year.
  • marketing budget
  • advertising
  • target market
  • positioning
  • promotion
Q11 | The team-based new-product development approach is faster because departments work closely together through _______.
  • a step-by-step process
  • departmentalization
  • team efforts
  • cross-functional teams
  • the help of a consultant
Q12 | Under what circumstances might it be wise for a company to do little or no test marketing?
  • When the product has no substitutes and is new in its category.
  • When a new product requires a major investment.
  • When the costs of developing and introducing the product are low.
  • When management is not sure of the product.
  • When management is not sure of the marketing program.
Q13 | What are the two ways that a company can obtain new products?
  • line extension and brand management
  • service development and product extension
  • new-product development and acquisition
  • internal development and merger
  • market mix modification and research and development
Q14 | Which of the following cannot be described by the PLC concept?
  • brand
  • styles
  • product image
  • product form
  • product class
Q15 | Which of the following costs is most likely associated with the commercialization stage of newproduct development?
  • identifying target markets
  • developing a prototype of the product
  • building or renting a manufacturing facility
  • paying groups of target consumers for product feedback
  • determining the product's planned price, distribution, and marketing budget
Q16 | Which of the following is not a potential cause of the failure of a new product?
  • ineffective advertising
  • an underestimated market size
  • an incorrectly positioned product
  • a poorly designed product
  • higher than anticipated costs of product development
Q17 | Which of the following is a disadvantage of a team-based approach to new-product development?
  • Organizational confusion and tension can be a part of the process.
  • The development effort is not as effective because of team members' lack of expertise.
  • The process does not work with the shorter life cycles of many of today's products.
  • It takes longer to get the right products to market.
  • Levels of risk can be more easily controlled.
Q18 | Which of the following is necessary for successful new-product development?
  • a market pioneer mindset and a holistic approach
  • an innovation management system and sequential product development
  • a team-based, innovation-management approach
  • a customer-centered, team-based, systematic approach
  • a holistic and sequential product development approach
Q19 | Which of the following is perhaps the most important external source of new-product ideas?
  • engineers
  • distributors and suppliers
  • competitors
  • customers
  • trade magazines, shows, and seminars
Q20 | Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers?
  • introduction
  • phase-in
  • decline
  • maturity
  • growth
Q21 | Your firm wants to use external sources for new product ideas. After consulting with a friend you learn that all of the following are common external sources except ________.
  • the firm's executives
  • customers
  • trade shows and magazines
  • competitors
  • suppliers