MKT 201 Question and answers verified to pass [MKT 201] Chapter 9 - DSM
New product development starts with __________.
a) concept testing
b) prototype development
c) idea screening
d) concept development
e) idea generation - correct answer e) idea generation
To create successful new...
[MKT 201] Chapter 9 - DSM
New product development starts with __________.
a) concept testing
b) prototype development
c) idea screening
d) concept development
e) idea generation - correct answer ✔e) idea generation
To create successful new products, a company must do which of the
following?
a) Focus new product development efforts on consumers only.
b) Understand its consumers, markets, and competitors, and develop
products that deliver superior value.
c) Cut costs to keep the price of new products low.
d) Obtain successful products through acquisitions instead of doing internal
development.
e) Spend more on R&D than its competitors. - correct answer ✔b)
Understand its consumers, markets, and competitors, and develop products
that deliver superior value.
Which of the following statements about new product development strategy is
correct?
a) New products are not a major source of growth for companies.
b) A new product will succeed as long as it priced correctly.
, c) Innovation can be expensive and risky.
d) New products are usually successful because consumers like new things.
e) Good advertising creates successful new products. - correct answer ✔c)
Innovation can be expensive and risky.
Which of the following statements concerning new products is correct?
a) Modified and improved products are considered new.
b) To be considered new, the product must be something consumers have not
seen before.
c) Most new products succeed within two years of their introduction.
d) A modified product is not considered a new product.
e) Products that are merely improved in some way are not considered new. -
correct answer ✔a) Modified and improved products are considered new.
What must companies do to create successful new products?
a) Cut costs to keep the price of new products low.
b) Focus their new product development efforts only on consumers.
c) Spend more on R&D than its competitors.
d) Understand its consumers, markets, and competitors and develop products
that deliver superior value.
e) Obtain successful products through acquisitions instead of doing internal
development. - correct answer ✔d) Understand its consumers, markets, and
competitors and develop products that deliver superior value.
If the product passes both the concept test and the product test, the next step
is __________.
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