Marketing Chapter 9

Question 1

The idea that product development must focus on customer problems, etc.

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customer centered NPD

Question 2

The stage in which the product is introduced in realistic market settings (Before FULL intro)

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test marketing

Question 3

profits are nonexistent at this stage

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introduction

Question 4

Product improvements, product modifications, and original products can all be classified as

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new products

Question 5

The stage where engineering develops a physical product

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product development

Question 6

The first step in the new product development process

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idea generation

Question 7

a system where companies collect, review, evaluate, and manage new product ideas

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innovation management system

Question 8

During maturity, the company should

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modify the product, market or marketing mix

Question 9

The course a product's sales and profits take over lifetime

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product life cycle

Question 10

the way consumers perceive an actual or potential product

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product image

Question 11

program that encourages employees to develop new product ideas

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intrapreneurial

Question 12

a detailed version of a product idea stated in meaningful consumer terms

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product concept

Question 13

Sales and profits decline in this stage

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decline

Question 14

temporary periods of unusually high sales driven by consumer enthusiasm

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fad

Question 15

Obtaining new products through buying a whole company,patent,or license

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Acquisition

Question 16

New products and marketing tactics are tested online in a virtual shopping environment

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simulated test market

Question 17

Main purpose of test marketing

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whether to launch

Question 18

this stage includes describing the target market, market share, and profit goals

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marketing strategy development

Question 19

Inviting public into new product development process

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crowd sourcing

Question 20

A review of the sales, costs, and profit projections

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business analysis

Question 21

Launching the new product into the market

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commercialization

Question 22

In concept testing new product concepts are tested with

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target customers

Question 23

A company cannot make a product similar to a competitor's product because of

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patent laws

Question 24

Example of an internal idea source

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company executives

Question 25

some products have cycled back to growth stage through

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harvesting

Question 26

An idea for a possible product that the company can see itself offering to the market

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product idea

Question 27

A common reason for new product failure

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incorrect estimate of market size

Question 28

Companies working together in cross functional teams to develop new products

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team based NPD

Question 29

this stage is characterized by rapid marketing acceptance and increasing profits

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growth

Question 30

Purpose of this stage is to reduce the number of ideas

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idea screening

Marketing Chapter 9

Questions 30

Marketing Chapter 9

Questions 30