2-A firm is thinking about adding a product to its product line. What is the most likely outcome if the firm goes through with this plan? Multiple Choice It will be difficult to manufacture the product. The company will have to work hard to build up the brand. The new product is certain to be accepted by the market. The new product can be advertised alongside existing products. It will take a long time for customers to feel loyal to the product. 8-A concept test is part of which stage of the new-product development process? Multiple Choice product launch test marketing product development idea screening idea generation 11-Which statement reflects a way that companies can reduce the risk of new-product failure? Multiple Choice realize that failure is not an option understand current market trends to anticipate demand know that it is impossible to anticipate changes in the market skip steps in the development process to market a product sooner focus on the needs of the firm more than the needs of the customer 12- A product that uses less energy to operate or can be recycled when the consumer is finished using it, it said to have Multiple Choice a green design. a sustainable design. an organic design. an ethical design. an environmental design. 15-Nestor is considered to be tech savvy by his friends. He is unafraid to take risks when it comes to trying new products and is always the first in his group to get the latest gizmo. What type of product adopter is Nestor? Multiple Choice late majority innovator early majority early adopter laggard 18-Products that take longer for consumers to see the benefits of or that do not have a good infrastructure in place for support are called Multiple Choice extended products. slow-learning products. low-learning products. high-learning products. complex products. If a company is using coupons or buy-one-get-one-free promotions to reduce the existing inventory of a product, that product is most likely in what stage of the product life cycle? Multiple Choice decline maturity introduction growth 20-During which stage of the product life cycle do customer service and repairs begin to take on significance as a way to differentiate a firm's products? Multiple Choice growth maturity introduction decline