20. How do you choose the idea that will be most profitable? This question is extremely important to analyze under this step in the new product development process. a) Idea Generation b) Idea Screening c) Concept Development and Testing d) Marketing Strategy Development

21. This stage in the product life cycle entertains sales growth slowing down. During this stage manufacturing costs should decrease. a) Introduction b) Decline c) Maturity d) Growth

22. Once a weak product is identified, a company must make a difficult decision. They are faced with the following choice: a) Do we maintain the product? b) Do we harvest the product? c) Do we drop the product? d) All of the above

23. Name one requirement for effective marketing segmentation. _____________________

24. This value proposition offers the best upscale product and charges higher prices to cover costs. _____________________

25. Under product classifications, this type of product is purchased often and with little buying effort such as groceries, coffee, etc. _____________________

26. Under product classifications, the consumer has little info on this type of product and does not normally consider buying. _____________________

27. This characteristic of a service explains how it cannot be seen, tasted, felt, heard, or smelled before the purchase takes place. _____________________

28. Extending a current brand name to new forms, colors, sizes, ingredients, etc. can be described as _____________________

29. This step in the new development process deals with reviewing the sales, costs, and projected profits for the product to see if it meets the companys objectives. _____________________

30. This process explains the problem a product aims to solve and showcases the best qualities and features of the product. _____________________

31. The actual introduction of a new product to the market falls under the last step of the new product development process known as: _____________________

32. During this stage of the product life cycle, profits are typically low due to high advertising and distribution costs. ____________________

33. The measuring of the ability of a brand to capture consumer loyalty and preference is known as ____________________