Exam 8: Innovation and New Product Development

What category of consumer adopters would purchase a product when it is no longer considered new or different but before it is considered a necessity? Explain your answer.

White Wave Inc. ,the maker of Silk soy milk,gave away free samples of its product to get consumers to try the first refrigerated soy milk sold in America.What stage of the consumers' adoption of a new product was White Wave Inc.trying to influence? Support your answer.

An Internet company helps other online businesses with handling distribution bottlenecks,including managing tariffs and exchange rates for international shipping.This company provides a(n)________.

Explain why marketers need to understand the views of consumers in dealing with the compatibility and complexity of innovations.

How do marketers define innovation?

A web site is full of games,activities,music,and stories that appeal to children of all ages.Before a parent commits to paying the annual membership fee to gain access to the site,she can register for one free month of use.By accepting the free month's usage,potential adopters move into the ________ stage.

Through ________,an organization collaborates with customers and other stakeholders to create worth in the new product development process.

A product has three distinct layers.The most basic level is the ________,which consists of all the benefits the product will provide for consumers or business customers.

Which of the following is NOT one of the five characteristics of innovations that affect the rate of adoption?

The first phase of new product development is ________.

Idea generation is also known as the ideation phase of product development.

What are prototypes? During which phase of the new-product-development process would a company develop prototypes?

For the business market,a multipurpose absorbent used to clean up any type of spills would be an example of a(n)________.

Which of the following costs is most likely associated with the commercialization stage of new product development?

A(n)________ is a new product that copies,with slight modification,the design of an original product.

After the business analysis phase of the new product development process,a physical version of the product is typically developed.This is called a ________.

The Federal Trade Commission says that a product may be called new for only ________.

Consumers' perception of relative advantage would help determine the success of a new magazine targeted to girls between the ages of 14 and 17.

Why would a company create a knockoff of a product?

________ is the extent to which a new product is consistent with existing cultural values,customs,and practices.