Exam 8: Product I: Innovation and New Product Development

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

________ are a form of product that are essentially intangible.

A ________ is a modification to an existing product.

The first phase of new product development is ________.

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.

How are processed materials different from raw materials?

An innovation that creates a new market and value chain, disturbing the order of an existing market and value chain, is called a(n) ________.

Camille was standing in the checkout line at her neighborhood grocery last night when she saw a display of Hostess Twinkies. She remembered how much she had enjoyed Twinkies as a child, and she knew she just had to buy a package of Twinkies, even though it was not on her shopping list. For Camille, Twinkies are an example of a(n) ________.

Which of the following new products had the greatest degree of observability when it was introduced?

Marketers would be most likely to use a focus group in which stage of new product development?

The ________ process draws upon logic, imagination, intuition, and systemic reasoning to explore possibilities and created desired outcomes.

Laggards tend to be in a higher social class than consumers in other adopter categories.

A(n) ________ is made on the spur of the moment without any planning or search effort.

The largest adopter category is the early adopters.

Generally, consumer goods are either ________ or ________.

Bleeding edge technologies typically move rapidly from adoption by innovators to adoption by the early adopters and early majority.

Is marketing more about supplying benefits or is it more about supplying attributes? Explain your answer.

The addition of sugar-free canned fruits to Del Monte's line of canned fruits and vegetables is an example of a discontinuous innovation.

For a veterinarian's office, the paper used to print payment receipts is an example of a(n) ________.

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