Exam 9: Developing New Products and Managing the Product Life Cycle

The search for new- product ideas should be rather than haphazard.

A _ _ is the way consumers perceive an actual or potential product.

In the stage of new- product development,products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.

Although test marketing costs can be high,they are often small when compared with .

The innovation management system approach yields two favorable outcomes: it helps create an innovation- oriented company culture,and it _ .

is the product life cycle period when sales fall off and profits drop.

GreenTree Lawn and Garden Products is engaged in a review of the sales,costs,and profit projections for some new products to find out whether they satisfy the company's objectives.This activity is called business product development.

Many marketers are now using new interactive technologies,such as Frito- Lay's online virtual convenience store,to reduce the cost of .

When a company decides to maintain a product in the decline stage,it will reduce costs and hope that sales hold up to increase the profits in the short run.

The purpose of idea generation is to create a number of ideas.The purpose of succeeding stages is to that number.

Once managers of The Grecian Urn have decided on their product concept and marketing strategy,they can evaluate the business attractiveness of the proposal in the _ stage of the new- product development process.

Which of the following is a product concept?

Flurrbies,a brand of winter accessories that fell in and out of favorability with customers quickly,is an example of a .

A marketer has selected a single city in which to conduct a test market.What might we conclude from this choice of a single- city test market?

The potential market strengths and weaknesses are being determined for a new- product idea at Art for Kids.In what stage of the new- product development process does this occur?

Because names,labels,and colors may not easily translate from one country to another,international marketers must carefully assess _.

Which of the following best represents the options a company has when a product is declining?

Malibu Beach Parties finds that the tastes and preferences of its customers change more rapidly than in the past.The manager should constantly look for external ideas from customers,suppliers,and the competition.

occurred when Alton Johnson's fascination with the fruits of Brazil led him to develop juices with new fruit flavors by Bosa Nova for the American market.

All of the following are accurate descriptions of a style EXCEPT which one?