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Chapter 8 New-Product Development and Product Life-Cycle Strategies Multiple-Choice 1. _____ is the development of original products, product improvements, product modifications, and new brands through the firm’s own R&D efforts. a. Idea generation b. Concept testing c. Test marketing d. New product development Answer: (d) Difficulty: (1) Page: 264 2. All of the following are different ways a firm can obtain new products, except which one? a. By acquiring a whole new company b. A firm can obtain a new product through patents c. A firm can obtain a new product by licensing someone else 's new product d. A firm can obtain a new product by using the R&D…show more content…
d. Customers must be careful not to rely too heavily on customer input when developing new products. Answer: (c) Difficulty: (3) Pages: 268-269 11. Some companies have installed a(n) _____ that directs the flow of new ideas to a central point where they can be collected, reviewed, and evaluated. a. new-product development team b. idea management system c. computer system d. satellite system Answer: (b) Difficulty: (3) Page: 269 12. In order to install an idea management system, whereby all ideas are directed to a central point, a company can do any or all of the following: a. Appoint a respected senior person to be the firm 's idea manager. b. Create a cross-functional idea management committee comprising of people form R&D, finance, engineering and operations to meet and evaluate new product ideas. c. Reward employees through formal recognition programs. d. All of the above are legitimate ways to systematically collect ideas. Answer: (d) Difficulty: (3) Page: 269 13. The purpose of _____ is to generate a large number of ideas. a. idea screening b. idea generation c. concept development and testing d. marketing strategy development Answer: (b) Difficulty: (2) Page: 270 14. The first idea reducing stage is _____ , which helps spot good ideas and drop poor ones as soon
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