Question 11 Which of the following is true of tested concept? It is the first ap
ID: 395034 • Letter: Q
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Question 11
Which of the following is true of tested concept?
It is the first appearance of an idea
It is a form or a technology, plus a clear statement of benefit
It has passed an end-user concept test; need is confirmed
It passes the test of fit with the company's situation
Question 12
The new product development process ends when
A product prototype is created
The new product is successful
The new product is launched
Commercialization is completed
Question 13
The development phase is composed of the development of
New product suggestions
The marketing plan
Final PIC
The concept
Question 14
Example of an internal mandate is the ______, which is caused by the discrepancy between a firm's current sales and the target sales established during long-range planning.
Product innovation gap
Fiscal gap
Fiduciary gap
Performance gap
Question 15
Opportunities identified by ongoing marketing and corporate planning and special opportunity analysis sort naturally into four categories. Which of the following is not one of them?
An underutilized resource
A new resource
A natural resource
An external mandate
Question 16
McDonald's features its "Golden Arches" in order to:
Improve its service
Attract qualified personnel
Add "tangibility"
Improve its processes
Question 17
A firm makes radical changes to its flagship product. This requires "great" changes in use as well as "great" changes in operations and marketing mode. The innovativeness risk in this case could be
None
Low
Medium
Dangerous
Question 18
The BEST new product ideas are based on
Channel desires
Manufacturing efficiencies
Profit goals
Customer problems
Question 19
A product "platform" may be based upon all of the following, EXCEPT:
Technology
Category
Brand name
Differentiation
Question 20
Which of the following is true of the quick second timing strategy?
It is usually a price entry keyed to manufacturing skills
It is safer than the slower entry strategy
It turns the firm into a forecaster
It is a pioneering approach
Explanation / Answer
Ans 1: It has passed an end-user concept test; need is confirmed
Explanation: Concept testing is done to refine a product or its marketing efforts by getting feedback directly from the end-users.
Ans 2: The new product is launched
Explanation: The final stage of the new product development process is the commercialisation of the product i.e. the introduction of the new product to the market.
Ans 3: The marketing plan
Explanation: At the development phase marketing strategy is developed for the product concept of the new product.
Ans 4: Performance gap
Explanation: Performance gap is the difference between the current situation and targeted situation by the organisation.
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