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New product development and product life-cycle

Quiz by Jeah Ignario

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10 questions
Show answers
  • Q1
    What is typically the main objective during the launch of a new product?
    To prepare for product decline
    To create market awareness and generate initial sales
    To gather feedback from competitors
    To reduce production costs
    30s
  • Q2
    Which of the following strategies is often used in the decline stage to extend a product's life?
    New market entry
    Product modification
    Price skimming
    Market penetration
    30s
  • Q3
    What is the main focus during the idea generation phase of new product development?
    Implementing marketing strategies
    Testing prototypes
    Brainstorming new concepts and solutions
    Analyzing market trends
    30s
  • Q4
    What is a common characteristic of the introduction stage of the product life cycle?
    Rapidly increasing sales
    Strong customer loyalty
    High costs due to marketing and development
    Low competition
    30s
  • Q5
    Which of the following is an important factor to consider during the maturity stage of the product life cycle?
    Product innovation
    High initial investment
    Brand new product development
    Market saturation
    30s
  • Q6
    In new product development, what is the primary purpose of conducting market testing?
    To eliminate production costs
    To finalize the product design
    To train sales staff
    To gather feedback on the product's performance
    30s
  • Q7
    Which of the following best describes the decline stage of the product life cycle?
    Introduction of new competitors
    Rapid growth in market share
    Increased product innovation
    A decrease in sales and profitability
    30s
  • Q8
    What is the primary goal of the growth stage in the product life cycle?
    To introduce new features
    To increase market share
    To establish brand loyalty
    To minimize production costs
    30s
  • Q9
    Which of the following is NOT a phase in the new product development process?
    Idea Generation
    Market Testing
    Distribution
    Concept Development
    30s
  • Q10
    In which stage of the product life cycle do products typically experience the highest level of advertising and promotion?
    Growth
    Maturity
    Decline
    Introduction
    30s

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