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How to Develop and Market New Consumer Products

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

The development of all new consumer products starts with _____.

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1. Assess the best time to stop the new product development process and abandon the development of a potential new product.

2. Determine the stage of the new product development process where a new product shows potential and new products are shown to prospective customers to gain feedback?

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About This Quiz & Worksheet

This assessment will require that you understand the different stages of the product development process such as the first step to the development of any product and the best time during the process to cancel a product's development.

Quiz & Worksheet Goals

This quiz/ worksheet will help you practice identifying:

  • The first step of the product development process
  • When a new product might be stopped
  • At what stage a company may try to get feedback from consumers
  • Which stage is when products are test-marketed
  • Characteristics of the new product development process

Skills Practiced

  • Interpreting information - verify you can read information regarding when a new product might be stopped and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the time when a company may want to get feedback from possible consumers
  • Reading comprehension - ensure that you draw the most important information from the related product development process lesson

Additional Learning

To learn more about how you get a new flavor of ice cream, review the lesson called How to Develop and Market New Consumer Products. Once you complete it, you should be able to:

  • Understand the importance of consumer needs to a new product
  • Define what the new product development process is
  • Identify the six stages in the process
  • Describe what each of the steps in making a new product available involves
  • Appreciate the benefits to be had despite the process itself being costly
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