MARKETING 3150 FINAL EXAM UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Question:
1. crowdsourcing
Answer:
inviting broad communities of people- customers, employees, independent
scientists and researchers, and even the public at large- into the innovation
process
Question:
2. idea generation
Answer:
the systematic search for new product ideas
Question:
3. idea screening
Answer:
helps spot good ideas and drop poor ones as soon as possible
Question:
4. product image
Answer:
the way consumers perceive an actual or potential product
Question:
5. product concept
Answer:
u
Question:
6. product idea
Answer:
an idea for a possible product that the company can see itself offering to the
market
Question:
7. concept testing
Answer:
testing new product concepts with groups of target consumers
, Question:
8. marketing strategy development
Answer:
designing an initial marketing strategy for introducing a product to the market
Question:
9. business analysis
Answer:
involves a review of the sales, costs, and profit projections for a new product to
find out whether they satisfy the company's objectives
Question:
10. test marketing
Answer:
the state at which the product and its proposed marketing program are
introduced into realistic market settings
Question:
11. commercialization
Answer:
introducing the new product into the market
Question:
12. customer-centered new product development
Answer:
focuses on finding new ways to solve customer problems and create more
customer-satisfying experiences
Question:
13. team-based new product development approach
Answer:
involves company departments working closely together in cross-functional
teams, overlapping the steps in the product development process to save time
and increase effectiveness
Question:
14. innovation management system
Answer:
collects, reviews, evaluates, and manages new product ideas
QUESTIONS AND CORRECT ANSWERS
Question:
1. crowdsourcing
Answer:
inviting broad communities of people- customers, employees, independent
scientists and researchers, and even the public at large- into the innovation
process
Question:
2. idea generation
Answer:
the systematic search for new product ideas
Question:
3. idea screening
Answer:
helps spot good ideas and drop poor ones as soon as possible
Question:
4. product image
Answer:
the way consumers perceive an actual or potential product
Question:
5. product concept
Answer:
u
Question:
6. product idea
Answer:
an idea for a possible product that the company can see itself offering to the
market
Question:
7. concept testing
Answer:
testing new product concepts with groups of target consumers
, Question:
8. marketing strategy development
Answer:
designing an initial marketing strategy for introducing a product to the market
Question:
9. business analysis
Answer:
involves a review of the sales, costs, and profit projections for a new product to
find out whether they satisfy the company's objectives
Question:
10. test marketing
Answer:
the state at which the product and its proposed marketing program are
introduced into realistic market settings
Question:
11. commercialization
Answer:
introducing the new product into the market
Question:
12. customer-centered new product development
Answer:
focuses on finding new ways to solve customer problems and create more
customer-satisfying experiences
Question:
13. team-based new product development approach
Answer:
involves company departments working closely together in cross-functional
teams, overlapping the steps in the product development process to save time
and increase effectiveness
Question:
14. innovation management system
Answer:
collects, reviews, evaluates, and manages new product ideas
