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Question
Identify the situation that most likely requires a company to conduct market testing on its new product.
A. The company's sales promotion plan does not depend on perfect execution.
B. The company's capital investments in the new product are high.
C. The company knows the business well and has been successful there.
D. The sales and revenue forecasts for the new product are conservative.
Answer
This answer is hidden. It contains 133 characters.
Related questions
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What are the various ways in which a product can be protected against product piracy?
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Explain the legal bases for negligence and warranty claim with respect to product liability.
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Which of the following is the biggest complaint against the laws governing product liability?
A. They do not provide any defenses against product liability claims for manufacturers.
B. They are based on assumption of risk.
C. They always require buyers to prove that there was direct sale from the manufacturer.
D. They have a negative impact upon a manufacturer's willingness to innovate.
Q:
The concept of _____ holds that a seller is responsible for keeping defective products off the market.
A. inherent risk
B. assumption of risk
C. strict liability
D. express warranty
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Janet uses the Atlas brand of lawnmowers despite being aware of its potential defects. She neglects the defects and continues to use the product regardless of its dangers. In this case, the manufacturer of Atlas lawnmowers can use _____ as a defense against any strict liability claims.
A. assumption of risk
B. misrepresentation
C. warranty
D. inherent risk
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Under the concept of strict liability, the:
A. buyer is unjustified to depend on the seller being right.
B. seller of an item is required to make an implied warranty rather than an express warranty.
C. seller of an item has the responsibility for not putting a defective product on the market.
D. buyer needs to prove that there was direct sale from the manufacturer.
Q:
The _____ is typically the last stage in the life cycle of a public concern that often lasts for years, and where general shifts in a country's political thinking may cause various issues to move into or out of the idle state.
A. trial support phase
B. regulatory adjustment phase
C. political arena phase
D. stirring phase
Q:
Which of the following is true of the stirring phase of the life cycle of a public concern?
A. It is characterized by a would-be leader and a muted cause seeking a political base.
B. It typically occurs when the opportunity for defusing the public concern has usually passed.
C. It is easy to identify this period, although most people ignore it.
D. It is characterized by a period of jockeying by adversaries.
Q:
Firms today manage the marketing and distribution process of products with the same vigor they manage design and manufacturing.
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Managements today demand tough standards, rigorous auditing at all points, good record keeping, and training of new product employees.
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The General Agreement on Tariffs and Trade (GATT) allows a nation to restrain imports from countries where piracy is a problem.
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The concept of strict liability requires proof that a direct sale from the manufacturer to the injured user took place.
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New regulatory legislation is often precise and made exclusively to prevent a period of jockeying among adversaries.
Q:
With reference to the various considerations in concept testing research, describe the real-time response survey procedure.
Q:
Discuss the use of prototypes as concept statement formats.
Q:
Briefly describe the provisos which can be applied by an organization to resist the bazooka effect.
Q:
Conjoint analysis is used to identify _____.
A. survey variations
B. the optimum combination of attributes
C. high-potential gaps
D. the optimum price for a product
Q:
The optimum proportion of attributes desired by a market can be identified with the help of ____.
A. attribute calibration
B. preference regression
C. progression vectors
D. factor analysis
Q:
A concept statement developed during the new product development process:
A. describes the technology to be used for manufacturing the product.
B. discusses the results of prototype testing.
C. states a difference and how that difference benefits the customer.
D. lists the guidelines for developing the new product.
Q:
The first purpose of concept testing is to:
A. estimate the likely sales or trial rate.
B. identify very poor concepts for early elimination.
C. refine revenue estimates claimed by marketers.
D. identify the technology needed for development.
Q:
A product concept is a:
A. core competency.
B. product feature.
C. physical prototype.
D. claim of proposed satisfactions.
Q:
Concept testing was essentially invented by ____.
A. industrial firms
B. wholesalers
C. retailers
D. advertising firms
Q:
Which of the following actions can prevent the bazooka effect?
A. Allowing an idea source to participate in the initial reaction
B. Giving the authority of rejecting an idea to a single person
C. Encouraging the participants to give an initial reaction based on pure intuition
D. Using trained and experienced evaluators for evaluating an idea
Q:
Which of the following is true of the product innovation charter (PIC) of a firm?
A. The PIC is formulated at the end of the new products process.
B. The formulation of the PIC follows the phase of opportunity identification and concept generation.
C. The PIC precludes the practice of having unwanted proposals eat up valuable development funds before they are detected.
D. The PIC tends to eliminate less product ideas than any of the other evaluation techniques.
Q:
Which of the following is true of up-front evaluations?
A. Up-front evaluations are conducted after the development phase in the new products process.
B. Up-front evaluations increase the likelihood of incurring cost overruns.
C. During this phase of the process, not much attention is given to finalizing the positional statement.
D. The practice of up-front evaluations is spreading because of the growing pressure to reduce time to market.
Q:
The real-time response survey combines the best features of focus groups and surveys and has proved useful in screening new consumer product concepts.
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Prototypes are the least expensive form of concept statements because very few decisions have to be made about the new product to get it into a prototype.
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Concept testing can be used for developing an idea, not just for testing it.
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Market analysis precedes the preparation of the product innovation charter and provides "a priori" conclusions about new product proposals.
Q:
Describe the cumulative expenditures curve.