Exam 8: Product I: Innovation and New Product Development

Consumers must engage in a great amount of learning to use a(n) ________ because no similar product has ever been on the market.

Business analysis for a new product includes assessing whether the firm has the resources to develop and introduce the product.

In business-to-business products, what is the difference between capital equipment and accessory equipment?

The purchase of a specialty product typically involves extended problem solving for the consumer.

Explain impulse products. Identify two challenges marketers may have regarding impulse products.

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.

________ are typically lower in social class than other adopter categories and are bound by tradition.

________ is the degree to which consumers find a new product or its use is difficult to understand.

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

During which stage of new-product development will management most likely consider whether the new product will cannibalize sales of the company's existing products?

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

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?

The first step in the product adoption process is to create interest.

Which of the following is an example of a good?

Prior to the development of the cardiac stent, surgeons used balloons to clear obstructed heart vessels, but there was no way to ensure the vessels would stay open. The stent is a tiny metal scaffold that props open the formerly obstructed blood vessel and keeps it from becoming obstructed again. Surgeons who use the stent had to engage in a great deal of learning to understand its use and its value in patient care. There was nothing like the stent on the market when it first appeared. The cardiac stent is an example of a ________.

Burger King developed a new French fry to compete with McDonald's fry-considered the world's best. Burger King's specifications included that the crunch would last for seven or more chews. The product failed because consumers did not like the fry as much as McDonald's fry. It is most likely that Burger King did not sufficiently ________ the idea for both technical and commercial value.

Introducing a new product into the market is called ________.

Explain why the price and perhaps the quality of an emergency product may not be an issue at the time of purchase.

Why would a company create a knockoff of a product?

Marketers classify convenience products as ________.