New Product Development

Question 1

Which of the following is not a benefit of the New Product Development Process?

Accepted Answer

Ensures slower time to market

Question 2

The type of market testing wherein target groups use the product and give their unbiased feedback to the organization.

Accepted Answer

Beta testing

Question 3

This stage revolves around checking the viability of the new product or its market campaign.

Accepted Answer

Market Testing

Question 4

In market testing, it revolves around checking the ________ of the new product or its marketing campaign.

Accepted Answer

Viability

Question 5

The following are the factors to consider when selecting a competitive price except:

Accepted Answer

Mid-Price Market

Question 6

How many stages are there in the New Development Process?

Accepted Answer

Seven

Question 7

This approach revolves around introducing a new business model that is better than existing solutions.

Accepted Answer

Upgrade Approach

Question 8

Under the 4U Approach, this approach asks if the solution is highly demanded by the target market.

Accepted Answer

Urgent

Question 9

Which stage is it important to strategize the selling price by identifying the base price of the product?

Accepted Answer

Market Strategy/Business Analysis

Question 10

Under the 4U Approach, this means to figure whether the brainstormed product concepts will address some real problems.

Accepted Answer

Unworkable

Questions 10