Exam 11: New Products

A basic and distinctive mode of expression is termed:

A new product department is excited about a new concept for a suntan lotion that goes on blue and fades away as the ability of the lotion to protect skin disappears. Projected sales, growth and profit looked very promising. The idea has been passed to R & D to determine if the product could be feasibly made. At this point, the new product department's idea is in the stage.

The stage of the new product development process that follows concept development and concept testing is:

During new product development, the main purpose of the business analysis may perform a number of functions. Which of the following BEST describes the purpose?

The head of Research and Development at Beta Corporation has been asked to forward a write up of the firm's latest new product ideas produced by the R & D department to the new product development committee for review. The write up will be used for:

A test market that is conducted in test cities such as Newcastle, Ballarat or Hobart is known as:

Market modification involves the search for new users and market segments and/or the attempt to increase usage among present customers.

A product concept is a detailed version of a product idea stated in meaningful consumer terms.

Standard test markets are rarely used because the firm cannot hide its new product tests from its competitors.

Which of the following statements about the product life cycle (PLC) is FALSE?

High costs are associated with the commercialisation stage of the new product development process.

In spite of the benefits of test marketing, many firms today question its value.

The group of buyers that account for 13.5 per cent of all adopters; are relatively reliant on group norms and adopt new products or ideas before the average person is known as:

The five factors that explain new product adoption rates are: relative advantage, complexity, compatibility, triability and observability.

During the market strategy development stage of the new product development process, the marketing department prepares a marketing strategy statement. Which of the following elements would NOT normally be included in the statement?

With the tremendous improvement that has taken place in marketing research techniques, the product failure rate for consumer products rarely exceeds ten per cent.

Of the five adopter groups, the innovators are the most influential in terms of its potential to influence opinion and speed up rates of diffusion.

While idea generation seeks to produce as many new product ideas as possible, the successive stages of the product development process seek to reduce the number of those ideas.

When a researcher poses a question or problem to an open pool of people, either online or offline, with a view to gaining as many different responses as possible in a short period of time, this is known as:

The bustle, a steel or mesh frame which women wore attached to the back of their waists and designed to support the weight of fabric used in long skirt trains, was popular during the late nineteenth century. It enhanced the female silhouette by enlarging the buttocks. In its day, the bustle was one of the most popular female accessories, worn by women around the world from the early 1870s through to the early twentieth century. The bustle is a late nineteenth century example of a: