1 answer

29.With regard to the various stages of the new product development process: - a product’s profit...

Question:

29.With regard to the various stages of the new product development process:
- a product’s profit potential is estimated in the idea generation stage.
- from a marketing perspective, scientists are the ideal source of ideas.
- new product ideas are generated during the test marketing stage.
- screening involves evaluating the idea in terms of a new-product checklist.
22. Which is NOTa characteristic of services?
- personal factors are very important, especially at the time of the purchase decision.
- there is usually a large set of acceptable brands or suppliers offering a given set of services.
- they tend to be adopted more slowly than products because of the difficulty in assessing quality.
- they tend to experience strong brand loyalty.
13.“Less-for-much-less” positioning involves meeting consumers’:
- lower quality requirements at the lowest possible price
- high quality requirements at a discounted rate
- quality performance requirements at a lower price
- lower quality requirements in exchange for a lower price
11.Regarding market segmentation:
- a firm with multiple market segmentation is going to experience some degree of cannibalism, i.e., one of its products will take sales from another of its products.
- a single market segment approach is generally focused on a small market away from the so-called “center” of the total market.
- the idea of multiple market segmentation is to give each market segment the choice from among several brands from the same seller.
- the single market segment approach is usually some form of the “me too” strategy.

Answers

Answer 29:

Option D. In new product development process, screening involves evaluating the ideas in terms of a new product checklist.

Answer 22:

Option C. All the options mentioned above are characteristic of a service except they tend to be adopted slowly than products because of the difficulty in assessing quality. The quality can be assessed in services.

Answer 13:

Option A. Less for much less involves meeting customer's lower quality requirements at the lowest possible price.

Answer 11:

Option B.

Market Segmentation refers to a single market approach focused on a small market away from the so called center of the total market.

.

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