Scenario 12

question 123

Multiple Choice

Scenario 12.2 Use the following to answer the questions.Jonathan Moore, president of Polar Manufacturing Company, has just reviewed the performance reports for the previous year and sees that there are some areas in which the company needs to improve. He specifically feels they could do a better job in managing Polar's product mix. Jonathan calls a meeting of all the managers responsible for each of the product lines that Polar currently manufactures. The group decides that they need to eliminate the complete industrial product line of ice chests, and plan to do so by letting the product decline without any changes in the marketing strategy or product. The group also decides to delete Polar's line of personal thermal underwear, however this product is to be discontinued within the week due to its unprofitability. While discussing these strategies, the group has also uncovered several customer groups for which new products could be developed. The managers decide to assemble a group of people from all functional areas of the company and give them the responsibility for all aspects of the new-product development.
-Refer to Scenario 12.2. Polar management is currently in which stage of new product development?

• A)idea generation
• B)screening
• C)concept testing
• D)product development
• E)test marketing

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Definitions:

25-Year Lease

This is a rental agreement granting the lessee the right to use a property for a period of 25 years.

Written Lease

A formal document outlining the terms and conditions under which one party agrees to rent property owned by another party.

Assigning

The process of transferring rights or duties under a contract to another party.

Subletting

The act of a tenant leasing out the rented property to another party, often subject to the terms of the original lease agreement.