Top 150+ Solved Product Design and Value Engineering MCQ Questions Answer
Q. During which stage of new-product development is management most likely to estimate minimum and maximum sales to assess the range of risk in launching a new product?
a. business analysis
b. product development
c. marketing strategy development
d. test marketing
e. concept testing
Q. Executives, manufacturing employees, and salespeople are all examples of ________.
a. core members of innovation management systems
b. new-product committee members
c. external sources for new-product ideas
d. internal sources for new-product ideas
e. research and development team members
Q. GrayBerry Gifts has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage, called ________ , to arrive at a realistic number to adopt.
a. idea screening
b. idea generation
c. concept development
d. idea dissemination
e. product concept
Q. In the ________ stage of new-product development, products often undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.
a. idea generation
b. concept development and testing
c. product development
d. marketing mix
e. business analysis
Q. In the ________ stage, the firm faces a trade-off between high market share and high current profit.
a. commercialization
b. introduction
c. growth
d. decline
e. maturity
Q. In the concept testing stage of new-product development, a product concept in ________ form is presented to groups of target consumers.
a. final
b. prototype
c. market-tested
d. physical or symbolic
e. commercial
Q. Mattel's Barbie is an example of an age-defying product. Barbie, simultaneously timeless and trendy, is in the ________ stage of the PLC.
a. introduction
b. decline
c. maturity
d. growth
e. adoption
Q. Most products in the marketplace are in the ________ stage of the product life cycle.
a. growth
b. introduction
c. decline
d. maturity
e. development
Q. Sales decline in the decline stage of the PLC because of technological advances, increased competition, and ________.
a. marketing mix modifications
b. shifts in consumer tastes and preferences
c. shifts in the economy
d. new market pioneers
e. shifts in unemployment
Q. Schmidt Steel Corporation lacks the confidence, capital, and capacity to launch its new steel product into full national or international distribution. Even though test market results look promising, what will be management's next step?
a. develop a prototype
b. retest the product in additional markets
c. develop a planned market rollout over time
d. seek the help of a nationally known consultant
e. secure a loan to provide confidence, capital, and capacity
Q. The advantages of standardizing an international product include all of the following except ________.
a. the adaptation of products to different markets
b. lower product design costs
c. decreased manufacturing costs
d. lower marketing costs
e. the development of a consistent image
Q. The major purpose of test marketing is to provide management with the information needed to make a final decision about ________.
a. whether to launch the new product
b. which market to compete in
c. how to develop a market strategy
d. how long to compete in the market
e. how to compete in the market
Q. The PLC concept can be applied by marketers as a useful framework for describing how ________.
a. to develop marketing strategies
b. concept testing is conducted
c. to forecast product performance
d. products and markets work
e. product ideas are developed
Q. The search for new-product ideas should be ________ rather than haphazard.
a. intermittent
b. seldom
c. segmented
d. systematic
e. strategically planned
Q. The second part of the marketing strategy statement outlines the product's planned price, distribution, and ________ for the first year.
a. marketing budget
b. advertising
c. target market
d. positioning
e. promotion