Coperate Management English 7

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1. A firm can obtain new products in two ways:
2. New-product development starts with the systematic search for new-product ideas. This step is called:
3. Major sources of new-product ideas include internal sources and external sources such as:
         
4. The brains of executives, scientists, engineers, manufacturing staff, and salespeople are . . . Idea sources.
5. Good new-product ideas also come from asking . . .
6. Companies must be careful not to rely too heavily on customer input when developing new products. For some products, especially highly technical ones, customers may not know . . .
         
7. Competitors are . . . good source of new-product ideas.
8. The purpose of idea generation is to create a large number of ideas. The purpose of the succeeding stages is to reduce that number. The first idea-reducing stage is . . .
9. An attractive idea must be developed into a . . .
         
10. Which step follows Concept Development?
11. Many firms routinely test new-product concepts with . . . before attempting to turn them into actual new products.
12. The marketing strategy statement consists of three parts. The . . . part describes the target market; the planned product positioning; and the sales, market share, and profit goals for the first few years.
         
13. The . . . part of the marketing strategy statement describes the planned long-run sales, profit goals, and marketing mix strategy.
14. The . . . part of the marketing strategy statement outlines the product´s planned price, distribution, and marketing budget for the first year.
15. . . . involves a review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company´s objectives.
         
16. If the product concept passes the business test, it moves into . . .
17. The "R&D" department stands for . . .
18. If the product passes functional and consumer tests, the next step is . . .
         
19. Although test-marketing costs can be high, they are often small when compared with the costs of making . . .
20. Using standard test markets, the company finds a small number of representative test . . .
21. Several research firms keep controlled . . . of stores that have agreed to carry new products.
         
22. Introducing the new product into the market is called:
23. The product life cycle has five distinct stages:
24. The introduction stage starts when the new product is . . .
         
25. If the new product satisfies the market, it will enter a . . . stage, in which sales will start climbing quickly.
26. Most products are in the . . . stage of the life cycle.
27. In the . . . phase management may decide to maintain its brand without change in the hope that competitors will leave the industry.
         

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