Question

1. Most new products are accepted by the market, despite failing to match or maximize customer requirements..

   True

   False

2. New product development always tries to achieve all of the following goals EXCEPT:

   	a.	Maximize fit with customer requirements
   	b.	Minimize development cycle time
   	c.	Parallel development of tasks
   	d.	Control development costs

3. With a penetration pricing strategy there is only minimum risk even if the initial price is less than the total cost.

   True

   False

4. The best choice of organization structure type for breakthrough new product development is  

   	a.	Traditional - (functional)
   	b.	Pure Project
   	c.	Committee
   	d.	Matrix

5. Because services are intangible they are much easier to describe and to develop than the associated product .

   True

   False

6. f a new product is introduced at a very high price

   	a.	Consumers are very sensitive to prices
   	b.	The company must closely monitor costs
   	c.	Competitors will be discouraged
   	d.	Development cost can be recovered

7. A strategy of not attempting to protect an innovation is never to your advantage in achieving success of a new product.

   True

   False

8. Why is it said that the attributes of disruptive products make them worthless in mainstream markets?

   		They offer incremental year-by-year improvements
   		They aren't worthless for mainstream markets
   		They typically can't perform at the capacity level or quality level of the established market when introduced
   		They slightly improve existing products

9. A type of faulty decision-making attributable to the relation of people in a meeting (such as a Product Development Team) is called _________

Answer 1

Question 1

Answer is False

In today's competitive world,Customer is the king of the market.The objective of the organisation is to provide goods or services as per the customer requirement in order to satisfy them better than its competitors.

If the New Products are accepted by the market,despite failing to meet the customer requirements,then in the long run ,the product won't be able to survive in the market despite repetitive effort.Therefore ,it is advisable to the marketers to promote that product or services that are able to meet the customer requirement as per their needs and suggestions.

Now a days ,organisations are providing customised products or services ,they tend to develop products as per their customer taste and preferences in order to satisfy them better than their competitors.

Hence,in order to get acceptance from the market and to survive in the long run ,the product or services should be developed or upgraded as per the changing needs and preferences of the customers.