Develop a New Product

Question 1

Analyzing cost of production & marketing, sales projections & potential profits of new product

Accepted Answer

Financial Analysis

Question 2

The first factor considered by the consumer in deciding whether or not to purchase.

Accepted Answer

basic product

Question 3

a written assurance by the company to it's customers that it stands behind it's product

Accepted Answer

guarantee, warranty

Question 4

other ways to make the product more satisfying-additional products & services

Accepted Answer

extended products

Question 5

Consumers will not purchase the product because of the brand.

Accepted Answer

rejection

Question 6

Products consumers purchase that are so satisfying that they will not consider another brand

Accepted Answer

Specialty Goods

Question 7

Researching the right target market-with unmet need and ability to buy the new product

Accepted Answer

Strategy Development

Question 8

Consumers value the brand to the extent that they reject other brands.

Accepted Answer

insistence

Question 9

Carefully screening ideas to select those that have the greatest chance of being successful!

Accepted Answer

Idea Screening

Question 10

Products purchased due to an immediate and urgent need.

Accepted Answer

emergency goods, convenience goods

Question 11

An item ready for assembly or needs little processing before assembly into final product

Accepted Answer

Component Parts

Question 12

Products where there are a variety of differences and consumer considers a number of factors

Accepted Answer

Attribute Based Good, Shopping Good

Question 13

A well-known name or symbol established by one company and sold for use by another company.

Accepted Answer

licensed brand

Question 14

Quantity of a product or service needed by a business in order to meet consumer demand

Accepted Answer

derived demand

Question 15

Land, buildings, major pieces of equipment-usually the most expensive purchases for a business

Accepted Answer

Capital Equipment

Question 16

a group of similar products with slight variations in the marketing mix to meet different needs

Accepted Answer

product line

Question 17

individuals who purchase products for personal consumption.

Accepted Answer

consumer markets

Question 18

Products purchased on the spur of the moment without advanced planning-not actively shopped for

Accepted Answer

convenience goods, impulse goods

Question 19

The complete set of all products a business offers to its market.

Accepted Answer

product assortment

Question 20

Products the consumer believe are similar but have significant price differences

Accepted Answer

Shopping Good, Price Based Good

Question 21

a product manufactured by a particular company under a particular name with a unique image

Accepted Answer

brand name

Question 22

Hardest part of new product development -creative brainstorming

Accepted Answer

Idea Development

Question 23

Basic materials that actually becomes part of a physical product-usually come from nature

Accepted Answer

Raw Materials

Question 24

lets a company to satisfy several target markets with 1 basic product-adding features & options

Accepted Answer

enhanced product

Question 25

additional attributes the customer can choose to add to the product to make it more satisfying

Accepted Answer

options

Question 26

Quantity of a product or service needed to meet the needs of the consumer.

Accepted Answer

direct demand

Question 27

Products and materials consumed in the operation of the business-not used in final product

Accepted Answer

Supplies

Question 28

Anything tangible offered to a market by the business to satisfy needs.

Accepted Answer

product

Question 29

Last step in new product development - full scale introduction to the target market

Accepted Answer

Product Marketing

Question 30

Consumers are unable to identify the brand.

Accepted Answer

non-recognition

Question 31

Legal protection of the words or symbols for use by one company.

Accepted Answer

trademark

Question 32

provides protection, security and useful information about a product

Accepted Answer

package

Question 33

Consumers view the brand as valuable and will choose it if it is available.

Accepted Answer

preference

Question 34

Products a target market will not seek to purchase - don't need or are unaware it exists.

Accepted Answer

Unsought Goods

Question 35

Companies and organizations that purchase products for the operation of business activities.

Accepted Answer

business markets

Question 36

Is used directly in the production of another product-not identifiable in a finished product.

Accepted Answer

Process Materials

Question 37

Name, symbol, word, or design that identifies a product/company it gives unique identification

Accepted Answer

brand, trademark

Question 38

Examples include: maintenance packages, installation packages, set-up or delivery

Accepted Answer

associated services

Question 39

The most misunderstood market by business

Accepted Answer

Teenage

Question 40

Developing product production process & training personnel can involve prototype & test markets

Accepted Answer

Product Development & Testing

Question 41

Smaller less expensive equipment used in the operation of the business-usually standardized

Accepted Answer

Operating Equipment

Question 42

a distinctive attribute that is added to make a product different & better than competitor's

Accepted Answer

features

Question 43

Products that are regular, routine and frequently bought - you do not shop around

Accepted Answer

convenience goods, staple goods

Question 44

Consumers can recall the brand name, but it has little influence on purchases.

Accepted Answer

recognition

Develop a New Product

Questions 44

Develop a New Product

Questions 44