Exam 8: Product I: Innovation and New Product Development

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

Which of the following is the best example of a convenience product?

Bossa Nova founder and CEO Alton Johnson was fascinated with the fruits of Brazil, a fascination that led him to develop juices with these new fruit flavors for the American market. Johnson's interest in Brazilian fruits is an example of ________.

A consumer doesn't have to learn anything new to use a(n) ________.

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

For an amusement park, concession food stands and the amusement rides themselves are examples of ________.

________ are consumer products for which a consumer either has little awareness or interest until a need arises. These products require a lot of advertising, personal selling, and other marketing efforts.

The purchase of a shopping product typically involves habitual consumer decision making.

Procter & Gamble introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Foods became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This act illustrates ________.

Crowdfunding and value co-creation are two names for the same process in new product development.

Traffic in major metropolitan areas is too often brought to a standstill because accident investigators must painstakingly measure skid marks and other evidence to determine responsibility for the crash. After a police chief missed an important meeting because of a wreck investigation, he was pleased to find an article about a company that markets a new high-tech crash investigation system that shortens the time required for these investigations by 40 percent. In which stage of the adoption process is the police chief?

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

At a retail store, the display racks on which clothes are hung, the shelving, and the cash registers are all examples of ________.

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

One of the advantages of ________ is the ability to evaluate a product and its marketing program before full-scale production marketing.

Marketers classify innovations into three categories based on their degree of newness. Explain these categories, identifying the role the consumer has in each.

We consume ________ in the short term rather than the long term.

Divergent and convergent thinking are two components of the ________ process.

The need to apply for a patent would most likely arise during which phase of new product development?

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