week 17

Question 1

customers feedback are taken and further changes, if required, are made to
the product.

Answer 1

PRODUCT DEVELOPMENT

Question 2

This involves developing the product in order to ensure that the product can be turned into the best version of the product
idea

Answer 2

PRODUCT DEVELOPMENT

Question 3

• the product and its proposed marketing program are introduced/tested into more realistic market
  settings

Answer 3

TEST MARKETING

Question 4

it allows the company to test the product and its entire marketing program, including targeting and positioning strategy, advertising, distributions, packaging, etc. before the full investment is made

Answer 4

TEST MARKETING

Question 5

Test marketing has given management the
information needed to make final decision:

launch or do not launch the new product

Answer 5

COMMERCIALIZATION

Question 6

Factors considered before commercialization: (2)

Answer 6

Introduction Timing
Introduction Place

Question 7

The company must review and continuously monitor the marketing performance of the
new product.

Answer 7

REVIEW OF MARKET PERFORMANCE

Question 8

Some new products declines fast or fails because companies forget to review the performance of the product in the market.

Answer 8

REVIEW OF MARKET PERFORMANCE

Question 9

They must make necessary change in their marketing plans and strategies or else the

Answer 9

REVIEW OF MARKET PERFORMANCE