Exam 8: Innovation and New Product Development

Marketers may conduct a massive advertising campaign,called a ________,to educate consumers about a new product.

Innovators tend to be better off financially than consumers in other adopter groups.

In which stage of the consumer's adoption of a new product does the purchase actually take place?

A(n)________ is defined as a tangible good,service,idea,or some combination of these that satisfies consumer or business customer needs through the exchange process.

Which type of product is a basic or necessary item that is available almost everywhere?

Product adoption is the process by which a consumer or business customer begins to buy and use a new good,service,or idea.

Why is reselling the customer an important part of confirmation after the adoption of an innovation?

________ include convenience products,shopping products,specialty products,and unsought products.

A fast-food chain wanted to add a new product to its breakfast menu.The company considered a pancake shaped like a muffin.The problem was determining how a customer would add syrup to the pancake while eating and driving.Fortunately,one of the company's suppliers developed a crystallized syrup that seeps through the pancake once it is heated.Explain the phase of new-product development that occurred during this process with the chain and its supplier? Support your rationale.

One of the advantages of test marketing is the ________.

From a marketing standpoint,a new product is anything that customers perceive as new and different.

A(n)________ is a good or service for which consumers will spend time and effort gathering information on price,product attributes,and product quality.

What category of consumer adopters would purchase a product when the product is no longer considered to be risky? Explain your answer.

What might a firm measure in order to examine its level of innovation?

In terms of the five characteristics of innovations that affect the rate of adoption,the digital camera would most clearly have a higher degree of ________ than flavored bottled water.

The ________ for a guest paying for a night's stay at a hotel is the use of a bed,bathroom,towels,dresser,light,and closet.

The vehicle jack and other hand tools carried by a truck driver in case of a flat tire are examples of which type of business product?

Marketers classify products based on where and how consumers buy the products.

Consumers would perceive a ceiling fan as having greater trialability than a new kind of snack food.

The business analysis for a new product begins with ________.