Exam 20: Introducing New Market Offerings

Troma Inc., is a famous manufacturer of cookware, that follows a traditional distributor-retailer system to distribute its products. The company abstains from the use of automated supply chain management (SCM)system mainly due to the fear of unknown. However, rapidly escalating operational costs and inefficiencies have made it absolutely necessary for the company to implement an SCM system. The company goes for a big-bang installation of SCM system to become more competitive and cost effective. Identify the adopter group to which Troma belongs.

A major drawback of conjoint analysis is that it cannot be used to measure objective attributes such as estimated market share and profit.

In consumer-goods market testing, the company seeks to estimate four variables. These four variables are: trial, first repeat, adoption, and ________.

________ means presenting the product concept to target consumers, symbolically of physically, and getting their reactions.

GameTech International Inc. engages in the design, development, and marketing of interactive electronic bingo systems primarily in the United States. The company has plans to enter developing markets such as Brazil and India. TechToys, GameTech's major competitor has already started operations in India. GameTech decides to delay its entry to India and to closely observe Techtoy's operations in India. What is the possible rationale behind this delaying decision?

What is a spiral development process?

Joseph, a student of the Columbia University, finds many of his classmates have purchased the I-pad tablet PC from Apple Computers. I-pad, launched a few months before has been identified as a very useful product and many students in the U.S. have rated it highly. Considering all these, Joseph also decides to purchase an I-pad. Which of the following is the adopter group to which Joseph belongs?

A(n)________ is a possible product the company might offer to the market.

Gordon Apparel, Inc. engages in the design, manufacture, and retail of fashion apparel for women, men, children, and pets. The company is known for its timely launch of apparels and stylish designer clothing. The company believes a new product has to create needs and not just satisfy the existing needs. To achieve this goal it engages in controlled idea generation techniques such as brainstorming while creating new designs. Which of the following parts of the DIG framework is given prominence here?

A large FMCG company decides to test market Kora, a new brand of face cleanser, to be launched soon. The company initially distributes a few free samples to some prospective consumers. Later it offers the product to the customers at a discounted price and observes that not only more than seventy percent of the customers are purchasing it but the same number are also satisfied using it. The company keeps using this process 3-4 times to obtain a correct count of the number of people purchasing the product repeatedly. Which of the following testing methods is being used here?

After creating a product prototype, a company tests it within the firm to see how it performs in different applications. The company refines the prototype to correct the mistakes found in in-house testing. What should be the next step?

Which of the following strategies for new-product development incorporates the buyers' preferences in the final design of the product?

Survival-age distribution refers to the number of customers that the product has in year one, two, three, and so on.

Most established companies focus on incremental innovation rather than radical innovation.

Five characteristics influence the rate of adoption of an innovation. One of these is ________.

What are the types of new products that a firm can introduce? What are the problems associated with introducing a truly innovative product? What are the necessary conditions to create a radically innovative product?

What is the significance of performing business analysis?

Briefly explain the three parts of the demand-first innovation and growth (DIG)framework.

Interno Computers Inc., together with subsidiaries, designs, manufactures, and markets personal computers and mobile communication and media devices, as well as selling related software, services, peripherals, networking solutions, and applications worldwide. The company is planning to launch a high-end portable digital music player worldwide. What is the best way to organize this product launch?

Adopters of new products move through five stages. These stages begin with ________ and follow with interest, evaluation, trial, and adoption.