New product development is aboutA.improving the existing product and getting the highest bidder.В.creating new products that add value to customers, fit with their expectations, and can achieved cost-effectively.C.creating new products that copies others ideas from competitors.D.creating new ideas to stakeholders and lobbying them. Which one of thefollowing statement is true:A.The development do not require creativity and innovation to be successful.В.New product development is about creating new products that add value to customers, fit with their expectations, and can achieved cost-effectively.C.The development of new products do not take significant time and resources to bring an initial concept to successful market launch.D.Some of the electronic products have been developed more than 12 years but for other products can take less than a year.

The process of bringing a new product to the market is known as new product development. In this…

Answered: New product development is about A.…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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What is the difference between the PDCA cycle and the Deming cycle?a. The PDCA cycle includes four steps (plan, do, check, act), while the Deming cycleincludes six steps.b. The Deming cycle only applies in manufacturing.c. The PDCA cycle is a method for quality improvement, while the Deming cycle appliesto the product development process.d. There is no difference between the two approaches.
A. If a company’s production rate (supply) could not keep up with the demand for its product by customers, the company would most likely from the following: a. Lower the price b. Increase promotion c. Hire temporary production employees d. Add new features to the product A. If a company’s production rate (supply) exceeds the demand for its product by customers, the company would most likely from the following: a. Hire temporary production employees b. Lower finished goods inventory levels c. Increase overtime for full time production employees d. Add new features to the product
What is the purpose of creating prototypes? a. To earn more money b. They just made it for fun c. To show how the company wants to sell the products d. To give the visual image for the product
Which Customers adopt an innovation only after a majority of people have tried it and are price sensitive. a.Skeptical b.Opinion leaders c.Innovators d.Pragmatists
Which one of the following options bring money to the company? a. Sales representatives b. Sales associates c. Sales executives d. All the options
Survey reports are always part of the process of a research paper under Chapter 4 even when the methodology does not employ survey method. Survey reports conducted by companies, government or non-government organizations do not undergo validation of data through series of evaluation from experts. First statement is accepted; the second statement is rejected First statement is rejected; the second statement is accepted Both statements are accepted Both statements are rejected
Sources of good new-product ideas include A. customers. B. employees. C. research and development. D. competitors. E. all of the above.
At this stage, the entrepreneur can test and refine the potential product or service. What new product development process is mentioned? O a. Testing the prototype O b. Validating the market O c. Developing a product or service description O d. Creatinga prototype Outsourcing is the process of appointing a third party manufacturer to do the manufacturing operations of the business. 00 Select one: O True O False
Which of the following is a benefit of the Stage-Gate Approach? A. All of these (except b) B. None of these C. Increases speed of offering development D. Improves likelihood of a successful offering E. Decreases costs of offering development
When the customer is objecting on the price of the product, the best way to counter attack such objection is by: Group of answer choices a. gently cut the presentation and leave b. offering other product options c. emphasize on the quality and functionality of the product d. provide freebies and samples
evaluate. refers to the degree to which a study accurately assesses what the researcher set out to O Validity O Reliability TO Believability O Possibility is the extent to which a survey, test, or measuring procedure yields the same results on repeated trials. O Validity COReliability O Believability O Possibility A is a research method that requires group interviews that are led by a moderator and involves eight to twelve participants. O Focus group O Poll Audit O Advisory Panel A...... ..is research method that evaluates content in print, online, and broadcast material using a systematic and objective procedure that often involves coding of key words and phrases. O Coding Audit O Advisory Analysis Communication Audit O Content Analysis A.... performed at the beginning of a new strategic communication programs provides a thorough analysis of current and historical communication activities. O Coding Audit O Advisory Analysis O Communication Audit O Content Analysis CONDIT Before…
a. From past research, explain the positive relationship between product quality and customer behaviour. b. From past research, explain the negative relationship between product quality and customer behaviour. c. From past research, explain the positive relationship between product price and customer behaviour. d. From past research, explain the negative relationship between product price and customer behaviour. e. From past research, explain the positive relationship between product promotion and customer behaviour. f. From past research, explain the negative relationship between product promotion and customer behaviour.

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