1. The payback period for a new product refers to how long 5 points it takes for

Question

1. The payback period for a new product refers to how long 5 points it takes for sales from the new product equal initial expenditures in R&D;, capital equipment and launch O True O False 2. When marketers evaluate the likelihood for a new product idea to succeed, they use a convex test and a prototype to understand how target customers value the idea. 5 points True O False 3. The commercialization phase for a new product includes initial production runs, sales force training and launching ad campaigns. O True O False 5 points

Explanation / Answer

1) True

Payback period is the time required to recover all the cost in terms of R&D, capital and launch

2) True

The convex test helps to understand how customers value the idea and is crucial to judge new product development

3) False

The initial production runs, sales force training are part of pre commercialization and must be carried out in advance

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