The funnel view of new product development suggests

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Reference no: EM132234131

1. Meghan was disappointed to be assigned to work on a product in the mature phase of the product life cycle. Once she started working with the product team, she discovered all the following EXCEPT:

- changes in consumers’ preferences were opening up new market segments.

- end-of-cycle strategies were the most profitable for companies.

- she could take the product into a new market segment to stimulate new growth.

- some simple product redesign could completely reinvigorate the product.

2. Alex’s new product seemed like a perfect new addition to the product line, but some distributors who did not seem to want to take on the additional product. What options would make the most sense for Alex?

- Offer to provide educational efforts if consumers didn’t understand the product

- Withdraw the product until a new consensus can be reached with the distributors

- Reduce demand with customers so retailers and distributors will not cause unwarranted burdens

- Establish a new set of distribution channels

3. The “funnel” view of new product development suggests that:

- each new product idea must pass a series of increasingly stringent tests in order to be introduced into the market.

- early stages should be finished quickly in order to get to the really good ideas.

- new product ideas fail at about the same rate at each level of the funnel.

- profitable new product ideas are easy to come up with but hard to recognize.

4. Value-pricing is the:

- practice of simultaneously increasing product and service benefits and increasing price.

- ratio of price to perceived benefits.

- ratio of perceived benefits to price.

-  practice of simultaneously increasing product and service benefits and maintaining or decreasing price.

5. In comparing penetration and skimming price policies:

- the former is useful when the firm has excess production capacity.

- the former sets a price without considering competition.

- the latter discourages the entrance of competitors.

- the latter is appropriate when demand is price elastic.

Reference no: EM132234131

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