11.
During ________ testing, the company's technical people let customers use prototypes to see how they perform in different applications and to ensure that the final product will be well received in the market.
Answer: Beta
12.In the context of the stage-gate framework of product development, the product concept can be thought of as the ________ the company will offer to its target customers.
Answer: Value proposition
13.Age, gender, income, occupation, level of education, religion, ethnicity, nationality, employment status, population density, social class, household size, and stage in the life cycle are all considered ________ factors.
Answer: Demographic
14.Which of the following best represents the chief advantage of pursuing a selective specialization multi-segment strategy?
Answer: It minimizes the firm's risk through diversification.
15.A ________ consists of a group of customers who share a similar set of needs and/or profile characteristics.
Answer: market segmentation
16. Most established companies focus on ________ innovation when they aim to enter new markets by tweaking existing products, or they want to stay one step ahead in the market by using variations on a core product.
Answer: Incremental 17.Design thinking is a data-driven approach with three phases: observation, ________, and implementation.
Answer: Ideation
18.Why do marketers often use specific images, phrases, and music when targeting specific generations?
Answer: These communication elements reflect the shared experiences that a generation typically has.
19.Access to scarce resources gives the company a distinct competitive edge because it ________.
Answer: restrict the strategic options for competitors
20.Which of these is NOT one of the four dimensions of a product portfolio?
Answer: Complexity
