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Principles of Marketing, 17e, Global Edition (Kotler/Armstrong) Chapter 9 Developing New Products and Managing the Product Life Cycle 1) Which of the following is a significant challenge presented by the product life cycle? A) increased expenses B) increased competition C) new product development D) evaluation of results E) recognizing the stages as a product goes through them Answer: C AACSB: Analytical thinking Skill: Concept Objective: LO 9.1: Explain how companies find and develop new product ideas. Difficulty: Easy 2) Acquisition refers to ________. A) the buying of a whole company, a patent, or a license to produce someone else's product B) an agreement between two or more commercial companies to produce a common product C) a partnership between two companies to produce a product in different countries by sharing risks D) investments made in a country's businesses by foreign citizens, often in the form of stocks E) the development of original products, product improvements, product modifications, and new brands through the firm's own product development strategies Answer: A AACSB: Analytical thinking Skill: Concept Objective: LO 9.1: Explain how companies find and develop new product ideas. Difficulty: Easy 3) Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of a(n) ________. A) new product development B) acquisition C) joint venture D) licensing contract E) divestment Answer: B AACSB: Application of knowledge Skill: Application Objective: LO 9.1: Explain how companies find and develop new product ideas. Difficulty: Moderate 1 Copyright © 2018 Pearson Education, Ltd. Which type of source is the least likely to have information on a company's new product launch?Which is the LEAST likely source of new product ideas? Customers, employees, distributors, and competitors are interacting with the marketplace and may have ideas for goods to serve customer needs. The bank from which it gets its debt financing is the least likely alternative here.
Which of the following is the first stage of the new product development process?Idea Generation (Ideation) This first step or stage of the Product Development process, often called “Ideation,” is where new product concepts originate. Often this step is a result of an idea screening to select the next product effort, and is more clearly defined in new product development.
Which of the following is a common reason for new product failure *?According to Robert Cooper [1], the major causes for new product failure are: inadequate market analysis, product defects, lack of effective marketing effort, higher costs than anticipated and competitive reaction.
Which of the following is the first stage of the new product development process quizlet?New-product strategy development is the first stage of the new-product development process that defines the role for a new product in terms of the firm's overall objectives.
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Which of the following is not likely to be a question asked in the new product screening process?
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