Within the New Product Development Process, which stage do you establish the features and price?
Idea Screening
Development
Feature Specialization
Testing
Idea Screening is when ______________.
The product is being alpha tested and then beta tested
The profit, price and potential sales are being calculated at different prices and the company looks at whether the offering fits with the companies competitive strategy
The basic idea is created and described
Today my coworker informs me that she has created the first physical prototype of an idea someone had last year, is this the development stage?
Beta testing is when we allow customers to test our product we test our product in the lab( we allow customers to test our product, we test our product in the lab )
HP makes a printer line where each printer has different features for different types of consumers, this is called ____________.
Process Feasibility
Quality Function Deployment (QFD)
Customer Service
Consumer Bundle
Which is the correct order of the New Product Development Process?
Idea generation, idea screening, feature specialization, development, testing, launch, evaluation
Idea generation, idea screening, feature specialization, testing, development, launch, evaluation
In the stage of Idea Screening, which question describes Process Feasibility?
Will we sell enough products to profit?
How much do we have to sell in order to break even?
How can we be more efficient with company time?
Will we actually be able to make and service this product?
A consumer buys an iPhone, which she saw an ad on TV for. She pays $1000 for it, and two months later she walks by the store she bought it at and her phone is now sold for $850. In the introduction phase, which strategy did Apple use to sell their phone faster?
Skimming pricing strategy
Penetration pricing strategy
The Growth Stage is characterized by high profits, increasing sales and less competition.
I’m a product that has been on the shelf for many years but I’m still people’s number one choice. Which stage of a product’s life cycle am I in?
Introduction
Growth
Decline
Maturity
During the Growth Stage, promotion often relies on
Specific benefits of a product
Value relative to competitive offerings
Modifying their target markets
Changing their packaging
