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Last Updated: Jun 06, 2026
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1. Which of the following are advantages of surveys?
I. There are excellent statistical tools available for analyzing survey data II. Surveys can detect differences between groups III. Surveys can detect trends over time IV. Surveys can be used to test hypotheses
A) II, III, IV
B) I, II, III
C) I, II, IV
D) I, II, III, IV
2. You are hired as a new product development consultant by an established company that is having challenges with its new product development innovation initiatives. Upon observing the work practices across the company, you note an emphasis on individuals working alone, very little social interaction either at or outside of work, limited recignition of staff performance, and frequent criticism of failure. What specific area wolud you recommend as the primary focus for the company to improve its product innovation?
A) Better tools to assist in all aspects of product innovation
B) Developing a culture of innobation
C) An improved product innovation process, used by all staff
D) Encouraging senior managers to get more involved in product innovation
3. Launching a new product can be one of the most exciting but challenging tasks that a new product team and most directly, the marketing manager assigned to the new product will ever experience. To assure that a new product launch is successful, which of the following is most important?
A) A launch management system used to identify and track potential problems with the new product launch
B) Market testing used to confirm new product success during launch
C) The continued involvement of each member of the development team in the launch phase
D) None of the above are important
4. Company A has recently implemented a range of new product development practices. As s first stage, it has used a range of ideation tools to generate a number of potential new product ideas. It is now seeking to evaluate and prioritize th 150 product ideas for further evalutaion and development. What technique would you recomend for the first stage of evaluating the 150 new product ideas?
A) Financial analysis
B) Detailed scoring of each idea against strategic criteria
C) Pass/fail evaluation
D) Ask boss to do it
5. In the BCG Growh-State matrix cash-cow is defined as a product with high market share but low growth potential. What strategy should company adopt for this type of product?
A) Carry out a detailed analysis of the product, the competitors, and the market, leading to clear strategy for the future of the product
B) Take as much profit from the product as possible
C) Make significaant investment in product improvements
D) Sell the product while it is still making money
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: B | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: B |
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