Answer the self-test questions below and then click on 'submit' to send your answers. The test will be marked instantly, so that you can see how well you have done.
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1 | |
Four broad categories of new products exist: product replacements, additions to product line, new-to-the-world products and which one of the following? |
| | A) | New product lines |
| | B) | Mature products |
| | C) | Industrial products |
| | D) | Discounted products |
| | E) | New product portfolio |
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2 | |
When a company attempts to create or nurture an innovative culture it must not tolerate failure. |
| | A) | True |
| | B) | False |
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3 | |
Marketing directors have described ways in which senior managers can support New Product Development. Two of these are: |
| | A) | Leave R&D departments alone and provide adequate funding |
| | B) | Employ new graduates and agree large budgets to support them |
| | C) | Encourage the use of new technology and set strict budgets |
| | D) | Provide hands-on management and set tight deadlines |
| | E) | Show personal interest and encourage team-working |
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4 | |
In the eight stages of the New Product Development process, the stage directly following the idea generation stage is: |
| | A) | Product development |
| | B) | Business analysis |
| | C) | Commercialisation |
| | D) | Screening |
| | E) | Concept testing |
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5 | |
Hamel and Prahalad argue that global competitive battles will be won by those companies which have: |
| | A) | Corporate imagination |
| | B) | E-technology capabilities |
| | C) | Risk management systems and cultures |
| | D) | Established brand names |
| | E) | The largest market share in a given market |
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6 | |
Test marketing involves: |
| | A) | Testing the communications mix, especially TV advertising due to its high cost |
| | B) | Trying out a new marketing mix internally, on staff, to find any weaknesses |
| | C) | Testing the performance of products to find any faults before they are fully launched |
| | D) | The launch of an undeveloped product to test the level of demand |
| | E) | The launch of a new product in areas representative of the intended market |
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7 | |
According to Wheelwright and Clark, project teams should be established to bring new products to the market place. |
| | A) | True |
| | B) | False |
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8 | |
Effective new product commercialisation strategy relies upon marketing managers making clear strategic choices regarding: |
| | A) | Branding |
| | B) | Packaging |
| | C) | Production |
| | D) | The target market |
| | E) | The diffusion process |
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9 | |
In the diffusion of innovation process, the second group of new product adopters, representing 13.5% of the total market, is called: |
| | A) | Lifestyle buyers |
| | B) | Early majority |
| | C) | Early adopters |
| | D) | Innovators |
| | E) | Late majority |
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10 | |
The most common form of new products introduced into the market are new-to-the-world products. |
| | A) | True |
| | B) | False |
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11 | |
A product re-launch is where: |
| | A) | The original product and original |
| | B) | A new promotional campaign is run to raise interest in the product again |
| | C) | Only the product is changed |
| | D) | Both product and other marketing mix elements are changed |
| | E) | A new branding campaign is run to re-position the product |
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2003 A McGraw-Hill Online Learning Centre