QUESTION Companies consider cost of materials, production expenses, impact of competition, and potential sales at this stage in developing a new product. A) product development B) product analysis C) test marketing D) commercialization E) idea generation ANSWER Answer: B Explanation: B) Product analysis is doing cost estimates to calculate the product’s possible profitability, taking […]
QUESTION Computers, copiers, and desks are examples of what category of business product? A) supplies B) installations C) accessory equipment D) process materials E) capital items ANSWER Answer: C Explanation: C) Computers, copiers, and desks are examples of accessory equipment.
QUESTION Employees, research and development departments, customers, suppliers, and even competitors can help a company with this stage in developing a new product. A) idea generation B) test marketing C) product analysis D) commercialization E) product screening ANSWER Answer: A Explanation: A) Companies may develop new products internally by listening to employees or through […]
QUESTION Which of the following is NOT an example of a raw material? A) industrial glue B) iron C) oil D) corn E) wood ANSWER Answer: A Explanation: A) Industrial glue is an example of a process material.
QUESTION A big question at this stage in developing a new product is whether to roll out the product gradually in selected geographical areas or roll it out nationwide all at once. A) product screening B) product analysis C) commercialization D) product development E) test marketing ANSWER Answer: C Explanation: C) Commercialization is the […]
QUESTION Which of the following is an example of a component part? A) industrial robots B) cleaning agents C) wool D) batteries E) food preservatives ANSWER Answer: D Explanation: D) Batteries, along with computer chips, switches, and tires, are examples of component parts.
QUESTION Fred’s company wants to come up with new product ideas. So Fred’s manager asked Fred to attend an idea-generating brainstorming meeting. Fred sat quietly throughout the meeting, not contributing anything. Later, Fred said, “My inner voice was blocking my creativity. All kinds of negative thoughts were running through my head.” Which of the following […]
QUESTION Which product is in a different category of innovation from the others? A) Campbell’s soup label change B) e-book readers C) two-flavor chewing gum D) larger-sized bottled water E) pink-colored hockey gear ANSWER Answer: B Explanation: B) All answer choices except e-book readers are in the continuous innovation category. E-book readers are in […]
QUESTION Patrick has a small retail store. Which item would Patrick definitely NOT sell in such a store? A) chewing gum B) work boots C) fur coats D) burn bandages E) food preservatives ANSWER Answer: E Explanation: E) Patrick’s store is a retail store, which means he sells to the consumer market. Food preservatives […]
QUESTION Which of the following is NOT a discontinuous innovation? A) fiber optics B) iPods C) electric cars D) genetically modified plants E) bar codes and scanners ANSWER Answer: C Explanation: C) Electric cars are an example of a dynamically continuous innovation.
