Exam 11: Developing and Managing Products

A company well-known for its easy-to-cook breakfast cereals was facing stiff competition from the many players in the market.The company changed its campaign to focus on dietary needs rather than just convenience,thus targeting a segment of consumers looking for healthy diet.This is an example of a ______.

When considering the diffusion of innovation,which group is least motivated by advertising or personal selling?

Which of the following describes laggards?

A marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products is called ______.

Identify a similarity between laggards and innovators.

For which type of products are concept tests thought to be less effective in predicting the success of a product?

Which of the following statements describes a customer innovation center?

Marketing costs are high in the introductory stage of the product life cycle because

Advertising and other promotional materials for a variety of products,including the test product,are shown to members of the product's target market.These people are then taken to shop at a mock or real store,where their purchases are recorded.This is part of the process involved in ______.

Which is true of the influencers found among early adopters?

A firm that starts with a global strategy is better able to develop products that are marketable worldwide.

In which way does the concept of product life cycle (PLC)help marketing managers?

Steve,a retiree,wants to use his savings to open a day care facility for dogs.After deciding on the services that he would provide to his customers,he calculates costs versus the demand and the profit he could make depending on the volume of sales.After extensive deliberation,Steve decides to take a bank loan because the needed initial investment is too high for opening the facility.Steve is currently in the _____ stage of the new-product development process.

Jason bought his first color television set after flat screen televisions were already widely diffused.He is most likely to be one among the ______.

What do programs like Google X do to promote innovative thinking among its employees?

Which of the following is an advantage of simultaneous product development?

Innovators are the first 2.5% of all those who adopt a new product.Early adopters are the next 13.5% to adopt the product.

In the context of diffusion of innovation,the dominant value of laggards is _____.

Comparably speaking,which of the following would have the highest observability in terms of its rate of acceptance and diffusion?

To rate concept (or product)alternatives,concept tests are often used at the ______ stage.