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Terms in this set (23)The __________ is the PLC stage in which a product's sales fade away. a) growth stage d) decline stage __________ is a detailed version of a new product idea stated in meaningful consumer terms. a) idea screening c) product concept __________ is the systematic search for new product ideas. a) product concept b) idea generation The __________ is the PLC stage in which a product's sales growth slows or levels off. a) decline stage b) maturity stage Marketing strategy development is __________. a) development that focuses on finding new ways to solve customer problems and create more customer-satisfying experiences d) designing an initial marketing strategy for a new product based on the product concept Modifying the market, product offering, or marketing mix is a product strategy in the ________ phase. a) maturity a) maturity __________ is inviting broad communities of people—customers, employees, independent scientists and researchers, and even the public at large—into the new product innovation process. a) crowdsourcing a) crowdsourcing New product development is __________. a) the systematic search for new product ideas c) the development of original products, product improvements, product modifications, and new brands through the firm's own efforts Phasing out weak items is a product strategy in the __________ phase. a) growth b) decline __________ is a temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity. a) fashion b) a fad __________ focuses on finding new ways to solve customer problems and create more customer-satisfying experiences. a) marketing strategy development c) customer-centered new product development __________ is designing an initial marketing strategy for a new product based on the product concept. a) marketing strategy development a) marketing strategy development Modifying the market, product offering, or marketing mix is a product strategy in the ________ phase. a) growth c) maturity __________ involves various company departments working closely together, overlapping the steps in the product development process to save time and increase effectiveness. a)
product development c) team-based new product development __________ is scanning new product ideas to spot good ideas and drop poor ones as soon as possible. a) idea generation b) idea screening Offering product extensions, service, and warranty is a product strategy in the __________ phase. a) growth a) growth __________ is developing the product concept into a physical product to ensure that the product idea can be turned into a workable market offering. a) team-based new product
development b) product development The __________ is the PLC stage in which a product's sales start climbing quickly. a) introduction stage c) growth stage __________ is a currently accepted or popular style in a given field. a) crowdsourcing d) fashion The introduction stage is the PLC stage in which __________. a) a product's sales start climbing quickly c) a new product is first distributed and made available for purchase __________ is testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal. a) test marketing c) concept testing Concept testing is __________. a) developing the product concept into a physical product to ensure that the product idea can be turned into a workable market offering c) testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal __________ is a basic and distinctive mode of expression. a) fashion c) style Sets with similar termsChapter 8 (New Product Development)21 terms brockman44 Chapter 9 DSM21 terms bianca_brussett marketing chapter 820 terms mjs748 MKT Chapter 8 Vocab21 terms jomoreira12 Sets found in the same folderMarketing Chapter 5 DSM23 terms amandagershon19 MKTG 301 (Clubb) Chapter 10: Marketing Channels: D…26 terms hannaforssenius MyMarketingLab Chapter 422 terms bulldawgz MKT mymarketinglab Ch 1220 terms fantabulousss Other sets by this creatorCapitals: Asia45 terms amandagershon19 Capitals: Europe48 terms amandagershon19 Capitals: South America12 terms amandagershon19 Capitals: North America23 terms amandagershon19 Verified questionsQUESTION A bond has a $1,000 par value, 12 years to maturity, and an 8% annual coupon and sells for$980. a. What is its yield to maturity (YTM)? b. Assume that the yield to maturity remains constant for the next three years. What will the price be 3 years from today? Verified answer
QUESTION Discuss the following statement: All else equal, firms with relatively stable sales are able to carry relatively high debt ratios. Is the statement true or false? Why? Verified answer QUESTION Assume the following relationships for the Caulder Corp.: $$ \begin{matrix} \text{Sales/Total assets} & \text{1.3 }{\times}\\ \text{Return on assets (ROA)} & \text{4.0\\%}\\ \text{Return on equity (ROE)} & \text{8.0\\%}\\ \end{matrix} $$ Calculate Caulder’s profit margin and debt-to-capital ratio assuming the firm uses only debt and common equity, so total assets equal total invested capital. Verified answer QUESTION Differentiate between ROE and ROIC. Verified answer Other Quizlet setsMgmt 105 Final 6.5-13137 terms riaparwal marketing chapter 823 terms bbakesz Marketing Exam 340 terms SBB556 MKTG 3000 CH 920 terms ehnn-rey Related questionsQUESTION The ideal conditions of pure competition 3 answers QUESTION The Mail-Order Rule requires that companies 6 answers QUESTION
Which of the below has been limited in recent years by the implementation of the National Do Not Call Registry? 6 answers QUESTION Individuality and interactivity are important building blocks for buyer-seller relationships. For these relationships to develop, companies must treat customers as individuals and empower them to: (1) influence the timing and extent of the buyer-seller interaction and (2) 2 answers Which of the following is a detailed version of the new product idea stated in meaningful consumer terms?Product concept is a detailed version of the idea stated in meaningful consumer terms.
In which PLC stage does a product sales start climbing quickly?The growth stage is the stage in which the product's sales start climbing quickly.
What refers to designing a plan for a new product based on the product concept?Marketing Strategy Development. Designing an initial marketing strategy for a new product based on the product concept. Business Analysis. A review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company's objectives.
When developing a new product concept testing should ideally be followed by marketing strategy development?Concept testing typically follows the marketing strategy development phase of the new product development process. The amount of test marketing needed is the same for each new product. When developing a new product, concept testing should ideally be followed by the business analysis stage.
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Offering product extensions, service, and warranty is a product strategy in the __________ phase.
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