new product development

MCQsQuestion.com has 57 Question/Answers about Topic new product development

In product life cycle introductory stage, marketing objective is to

In product life cycle introductory stage, marketing objective is to
  • A. create product awareness
  • B. maximize market share
  • C. defend market share and profits
  • D. reduce expenditure
  • Correct Answer: Option A

According to ‘real-win-worth doing’ proposition, analysis of checking profit potential for new product is part of

According to ‘real-win-worth doing’ proposition, analysis of checking profit potential for new product is part of
  • A. real
  • B. win
  • C. worth doing
  • D. less worthy
  • Correct Answer: Option C

In ‘maturity stage of product life cycle’ cost per customer is

In ‘maturity stage of product life cycle’ cost per customer is
  • A. high
  • B. low
  • C. average
  • D. moderate
  • Correct Answer: Option B

Customers of products or services in product life cycles introductory stage are classified as

Customers of products or services in product life cycles introductory stage are classified as
  • A. innovators
  • B. early adopters
  • C. middle majority
  • D. laggards
  • Correct Answer: Option A

‘marketing strategy statement’ first part consists of

‘marketing strategy statement’ first part consists of
  • A. target market
  • B. planned value proposition
  • C. sales, profit goals, market share
  • D. developing mission statement
  • Correct Answer: Option A

According to ‘real-win-worth doing’ proposition of marketing, checking fit of product in overall strategy is part of

According to ‘real-win-worth doing’ proposition of marketing, checking fit of product in overall strategy is part of
  • A. real
  • B. win
  • C. worth doing
  • D. less worthy
  • Correct Answer: Option C

Competitors in growth stage of product life cycle are

Competitors in growth stage of product life cycle are
  • A. few
  • B. growing number
  • C. stable but begins declining
  • D. declining number
  • Correct Answer: Option B

Computer giant Dell have an idea storming website used to ask customers for improvement suggestions is an example of

Computer giant Dell have an idea storming website used to ask customers for improvement suggestions is an example of
  • A. internal sourcing
  • B. crowdsourcing
  • C. off shoring
  • D. off sourcing
  • Correct Answer: Option B

Customers, distributors and suppliers collectively provide ideas for new-product development are classified as

Customers, distributors and suppliers collectively provide ideas for new-product development are classified as
  • A. idea's external sources
  • B. acquisition of ideas
  • C. primary sources
  • D. secondary sources
  • Correct Answer: Option A

In product life cycle growth stage, marketing objective is to

In product life cycle growth stage, marketing objective is to
  • A. create product awareness
  • B. maximize market share
  • C. defend market share and profits
  • D. reduce expenditure
  • Correct Answer: Option B

‘marketing strategy statement’ third part consists of

‘marketing strategy statement’ third part consists of
  • A. target market
  • B. planned value proposition
  • C. sales, profit goals, market share
  • D. developing mission statement
  • Correct Answer: Option C

According to PLC stages, stage in which profits are non-existent because of higher expenses is said to be

According to PLC stages, stage in which profits are non-existent because of higher expenses is said to be
  • A. introduction stage
  • B. turbulent stage
  • C. innovation stage
  • D. non-profit stage
  • Correct Answer: Option A

Sales in maturity stage of product life cycle are recorded as

Sales in maturity stage of product life cycle are recorded as
  • A. low sales
  • B. rapidly rising
  • C. very peaked
  • D. declining
  • Correct Answer: Option C

New product development proposes screening framework as

New product development proposes screening framework as
  • A. real-worth doing-win
  • B. win-real-worth doing
  • C. worth doing-real-win
  • D. real-win-worth doing
  • Correct Answer: Option D

Process of changing one or more elements of marketing mix to improve sales is classified as

Process of changing one or more elements of marketing mix to improve sales is classified as
  • A. modifying marketing mix
  • B. modifying raw material schedule
  • C. modifying product
  • D. modifying market
  • Correct Answer: Option A
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