New Product Development Process - Chapter Four
31 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What does acquisition refer to in the context of new product development?

  • Developing original products from the firm's own
  • Generating new product ideas
  • Buying a whole company (correct)
  • Modifying existing products

    • What is the primary focus of idea generation in new-product development?

  • Developing original products from the firm's own
  • Generating new brand ideas
  • Systematic search for new-product ideas (correct)
  • Finding ways to improve existing products

    • Where do internally sourced new product ideas typically come from?

  • Competitor companies
  • Public opinion and surveys
  • Government agencies
  • Top management who know the company's strengths and weaknesses (correct)

    • What makes 3M Corp. unique in terms of new product idea generation?

    <p>They involve both marketing and technical employees in idea generation</p> Signup and view all the answers

    What does new product development refer to in the context of the text?

    <p>Developing original products from the firm's own</p> Signup and view all the answers

    Which of the following is NOT considered a source of new-product ideas according to the text?

    <p>Competitor companies</p> Signup and view all the answers

    Which stage of the new product development process refers to identifying good ideas and dropping poor ideas?

    <p>Idea Screening</p> Signup and view all the answers

    What is the main focus of the creative techniques used for generating new product ideas?

    <p>Imagination and creativity</p> Signup and view all the answers

    What is the definition of a product concept according to the Product Development Management Association?

    <p>A detailed version of the product image</p> Signup and view all the answers

    What does concept testing during concept development and testing help to determine?

    <p>The appropriateness of the new product idea for satisfying customer needs</p> Signup and view all the answers

    Which stage of the new product development process involves inviting broad communities of people into the new-product innovation process?

    <p>Crowdsourcing</p> Signup and view all the answers

    What does the R-W-W Screening Framework consider during the idea screening stage?

    <p>Market attractiveness and technical feasibility</p> Signup and view all the answers

    What is the main focus of analytical techniques used for generating new product ideas?

    <p>Analysis of specific situations</p> Signup and view all the answers

    Which stage of the new product development process involves developing the initial marketing strategy for introducing the product to the market?

    <p>Marketing Strategy Development</p> Signup and view all the answers

    What does a product image refer to?

    <p>The way consumers perceive an actual or potential product</p> Signup and view all the answers

    What is the systematic search for new-product ideas called?

    <p>Idea generation</p> Signup and view all the answers

    What does 3M Corp. allow its employees to spend up to 15 per cent of their work time on?

    <p>New product project</p> Signup and view all the answers

    Where do internally sourced new product ideas typically come from, according to the text?

    <p>Top management</p> Signup and view all the answers

    What is the primary focus of new product development, as described in the text?

    <p>Developing new brands</p> Signup and view all the answers

    What does acquisition refer to in the context of new product development?

    <p>Obtaining a license to produce someone else’s product</p> Signup and view all the answers

    Which stage of the new-product development process involves developing the initial marketing strategy for introducing the product to the market?

    <p>Commercialization</p> Signup and view all the answers

    What is the primary purpose of concept testing during concept development and testing in new product development?

    <p>Measuring consumer perception of the product concept</p> Signup and view all the answers

    What does the R-W-W Screening Framework consider during the idea screening stage of new product development?

    <p>Product advantages and competencies</p> Signup and view all the answers

    Where do externally-sourced new product ideas typically come from in the context of new product development?

    <p>Customers, competitors, and suppliers</p> Signup and view all the answers

    What is the main focus of inviting broad communities of people into the new-product innovation process, as mentioned in the text?

    <p>Crowdsourcing innovation from various communities</p> Signup and view all the answers

    Which stage of the new product development process involves identifying good ideas and dropping poor ideas using the R-W-W Screening Framework?

    <p>Idea screening</p> Signup and view all the answers

    In the context of new product development, what does a product concept refer to according to the Product Development Management Association?

    <p>'A detailed version of the idea stated in consumer terms'</p> Signup and view all the answers

    What is the main focus of the creative techniques used for generating new product ideas as mentioned in the text?

    <p>'Emphasis on creativity and imagination'</p> Signup and view all the answers

    What makes 3M Corp. unique in terms of new product idea generation, as per the text?

    <p>'Emphasis on crowdsourcing'</p> Signup and view all the answers

    What does acquisition refer to in the context of new product development according to the text?

    <p>'The acquisition of good ideas and dropping poor ideas'</p> Signup and view all the answers

    During concept testing in concept development and testing, what kind of information is collected according to the text?

    <p>The degree to which customers perceive that the new product idea is appropriate for satisfying their needs; their intention to buy (or try) the new product.</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser