Exam 8: New Product Development

Access to distribution with big box retailers is a typical sign of products in the growth stage.

Apple has had much success by introducing _________

Which of the following is true of the growth stage of the product life cycle?

_____ is when a product is discontinued.

Freshmornings is one of the breakfast cereals produced by Kenny's Ltd.Marketers at the company analyze that the product is experiencing a slowdown of growth in both sales and profits.Within a year, due to changes in consumer needs, the product sales have consistently decreased.They decide to keep the product but reduce the marketing support in an attempt to reap some minor profits at this stage in the life cycle. Which stage of the product life cycle did Freshmornings enter with consistently low sales due to changes in consumer needs?

Product innovation is a priority in the maturity stage of the product life cycle.

Cell phone manufacturers frequently add new products to ensure that these products remain fresh and relevant.This approach is called:

Which of the following stages of a product life cycle is characterized by a slowdown of growth in both sales and profit areas?

_____ innovations refer to new products that involve the introduction of a product that is entirely new and innovative to the market.

FunNoodles has added a new range of products to its Fun Instant Noodles and Fun Rice Noodles range.FunNoodles adopted this approach to stay competitive in the market amidst new brands.FunNoodles's brand and its quality were well-established, and hence the products did not require much education on behalf of consumers.Within a month of launching the new range of products, FunNoodles had sold about half a million units. FunNoodles's new range of products required little awareness on behalf of customers and were readily accepted by them.This is an example of a _____.

_____ involves determining financial projections on bringing a new product to market and selling it in the future.

The adoption curve shows the stages of the product life cycle.

What are concept tests?

The _____ stage occurs when a product becomes obsolete due to technological innovation or changes in consumer needs.

Explain test marketing.Give an example.

Commercialization is the step when a new product is brought to market with full-scale production, sales, and marketing support.

_____ refers to a product having strong consumer appeal in a category with both growth and profit potential.

A research group is attempting to reduce its array of ideas to a manageable list of promising concepts.The research group is in the screening and evaluation stage of new product development process.

Which of the following products experiences a relatively short and cyclical life cycle, going from introduction to decline within two years, only to resurface again after a few years?

Continuous innovations refer to new products that require new learning or behavior by consumers.