QUESTION Which of the following is NOT one of the four stages of the product life cycle? A) introduction B) familiarization C) growth D) maturity E) decline ANSWER Answer: B Explanation: B) A product life cycle is a model that graphs the four stages that a product or service goes through during the “life” […]
Date: September 3rd, 2020
QUESTION Research suggests that only one idea in how many will end up making money? A) 3 B) 30 C) 300 D) 3,000 E) 30,000 ANSWER Answer: D Explanation: D) Quality counts, since research suggests that only one idea in 3,000 will end up making money.
Date: September 3rd, 2020
QUESTION Which of the following gives the stages in developing a new product in the correct order? A) test marketing > idea generation > product analysis > product screening > commercialization > product development B) product development > test marketing > product analysis > product screening > idea generation > commercialization C) product analysis > […]
Date: September 3rd, 2020
QUESTION Products that don’t fit the company’s product mix, are too expensive, will take too long to execute, or won’t generate enough sales are addressed at this stage in developing a new product. A) product analysis B) product development C) product screening D) commercialization E) test marketing ANSWER Answer: C Explanation: C) Product screening […]
Date: September 3rd, 2020
QUESTION Companies produce a prototype at this stage in developing a new product so that they can see what the product will look like. A) idea generation B) test marketing C) product screening D) commercialization E) product development ANSWER Answer: E Explanation: E) Product development is the production of a prototype, or preliminary version […]
Date: September 3rd, 2020
QUESTION Which category of business products is NOT correctly paired with its definition? A) accessory equipment: smaller, more mobile equipment B) component parts: materials for making principal product not readily identifiable in that product C) business services: services used in operations D) supplies: goods to help make, but not become part of, principal product E) […]
Date: September 3rd, 2020
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 […]
Date: September 3rd, 2020
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.
Date: September 3rd, 2020
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 […]
Date: September 3rd, 2020
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.
Date: September 3rd, 2020
