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NEW PRODUCT Flashcards | StudBud

Explore/NEW PRODUCT

NEW PRODUCT

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Questions 10

Answers

1
What is the opposite technique to price skimming?
consumer- centered pricing
market-penetration pricing
market skimming
price- penetration
2
At which stage of the product life cycle does customer disinterest and sales decline?
Introduction
Product development
Maturity
Decline
3
Identify the THREE types of test markets
Standard test market
Simulated test market
Controlled test market
Online test market
4
What are two ways to obtain new products ?
Cross-Category Extension
None of the above
New product development
Acquisition
5
The definition of Maturity taking account Product Life- Cycle strategies is:
Sales fall off and profits drop
Sales are zero and investment costs mount
Slowdown in sales growth and profits level off or decline
Rapid market acceptance and increasing profits
6
Successful new-product development should be:
team centered, customer- based, short- term
tem centered, customer- based, long- term
None of the above
customer centered, team- based, systematic
7
What are the THREE types of brand sponsorship?
Product idea
Product investment
Product image
Product concept
8
Crowdsourcing:
Possible product that the company can see itself offering to the market
Inviting broad communities of people into the NP innovation process
Refers to introducing the product to the market
Refers to testing NP concepts with groups of target consumers
9
What is the start-up phase of high sales and promotional efforts but limited profitability
Introduction
Growth
Maturity
Product development
10
Introduction stage from the Product Life- Cycle:
gives little or non profit
none of the above
is the time when competitors enter the market
ensures price stability