New Product Development Process

Play an AI-generated podcast conversation about this lesson

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?

They involve both marketing and technical employees in idea generation Signup and view all the answers

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

Developing original products from the firm's own Signup and view all the answers

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

Competitor companies Signup and view all the answers

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

Idea Screening Signup and view all the answers

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

Imagination and creativity Signup and view all the answers

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

A detailed version of the product image Signup and view all the answers

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

The appropriateness of the new product idea for satisfying customer needs 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?

Crowdsourcing Signup and view all the answers

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

Market attractiveness and technical feasibility Signup and view all the answers

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

Analysis of specific situations 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?

Marketing Strategy Development Signup and view all the answers

What does a product image refer to?

The way consumers perceive an actual or potential product Signup and view all the answers

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

Idea generation 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?

New product project Signup and view all the answers

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

Top management Signup and view all the answers

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

Developing new brands Signup and view all the answers

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

Obtaining a license to produce someone else’s product 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?

Commercialization Signup and view all the answers

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

Measuring consumer perception of the product concept Signup and view all the answers

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

Product advantages and competencies Signup and view all the answers

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

Customers, competitors, and suppliers 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?

Crowdsourcing innovation from various communities 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?

Idea screening 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?

'A detailed version of the idea stated in consumer terms' 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?

'Emphasis on creativity and imagination' Signup and view all the answers

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

'Emphasis on crowdsourcing' Signup and view all the answers

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

'The acquisition of good ideas and dropping poor ideas' Signup and view all the answers

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

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. Signup and view all the answers

New Product Development Process - Chapter Four

Podcast Beta

Questions and Answers

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

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

Where do internally sourced new product ideas typically come from?

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

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

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

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

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

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

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

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

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

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

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

What does a product image refer to?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

More Quizzes Like This

New Product Development Process - Chapter Four Quiz

Innovation Management Chapter 9: New Product Development

Innovation Management and New Product Development Quiz and Flashcards

New Product Development Process Efficiency

Upgrade to continue