R&D and engineering first produce the product concept into a physical product during which of the following stages of the new product development process ?

Related Mcqs:

1. A company is in the ________ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product ?

   A. product development
   B. commercialization
   C. marketing strategy
   D. business analysis

2. When a company reviews sales costs and profit projections for a new product to find out whether these factors satisfy the company’s objectives they are in which of the following new process development stages ?

   A. Concept development and testing
   B. Commercialization
   C. Business analysis
   D. Marketing strategy development

3. Setting call objectives is done during which of the following stages of the selling process?

   A. Prospecting
   B. Preapproach
   C. Approach
   D. Handling objections

4. If the total product of two workers is 80 and the total product of 3 workers is 90 then the average product of the third worker is ________ and the marginal product of the third worker is _________?

   A. 160; 270
   B. 10; 30
   C. 10; 3.33
   D. 30; 10

5. If a country can produce 10 of product A or 4 of product B the opportunity cost of 1B is ?

   A. 0.4A
   B. 2.5A
   C. 10A
   D. 1B

6. Which of the following is NOT one of the five stages of the buyers decision process?

   A. need recognition
   B. brand identification
   C. information search
   D. purchase decision

7. The Setrite Corporation produce chairs. An economist working for the firm predicts that if people’s incomes rise next year, then the demand for our chairs will for our chairs will increase ceteris paribus The accuracy of the economist’s prediction depends on whether the chairs Setrite Produce ?

   A. have few substitutes.
   B. are normal goods
   C. have few complementary goods.
   D. have many complementary goods.

8. The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?

   A. flying geese
   B. import substitution
   C. export orientation
   D. commodity expansion

9. The downward sloping marginal physical product of labor is the firm’s ?

   A. Supply of labor
   B. Short-run demand curve for labor
   C. marginal cost of labour
   marginal revenue product of labor

10. Criticisms of Rostow’s stages of development include ?

    A. the difficulty of testing the stages scientifically
    B. conditions for takeoff are contradicted by historical evidence
    C. characteristics of one stage are not unique to that stage
    D. All of the above are correct