Exam 8: Create the Product

A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way to approach this problem proactively.They came up with an idea for a pair of blurry goggles.They believed looking through the goggles would simulate what the world looks like when someone is seriously intoxicated.The first crude pair of blurry goggles developed by the entrepreneurs to show to prospective customers was .

What are the phases involved in the development of a new product?

The is the actual product such as a refrigerator plus delivery,installation,financing,and warranty.

Convenience product purchases are not alike.What are the three types of convenience products and show how they differ from one another?

In the business market,steel tubing,natural cloth fabric,and lumber are all examples of .

Simulated test marketing allows the company to determine where in the store the product should be placed to maximize sales.

Why are products classified as continuous innovations? Relate this concept to the development of the Bosa Nova new juice with the acai ingredient..

Which of the following statements about innovation is true?

Microsoft launched a massive $500 million marketing campaign when it introduced the Xbox,promoting the new product through in- store merchandising,retailer incentives,events and sponsorships,in addition to traditional advertising.What stage of the customer's adoption of a new product was implemented by Microsoft? Support your answer.

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 .

Harrah's built a large casino in the St.Louis area.In terms of business- to- business product,the structure that houses Harrah's casino is a(n).

Before attending a recent trade show,a police officer had wished there was a gadget that he could subtly use to check the alcohol levels of car drivers and passengers that he pulled over for traffic infractions,but never thought he would.At the show,he discovered a flashlight made by KAS Systems that could be used to check alcohol levels without anyone knowing what he was doing.Prior to the show,the KAS system was a(n)for the police officer.

is the degree to which a consumer perceives that a new product provides superior benefits.

Which of the following products would most consumers classify as a shopping product?

Bosa Nova makes products.People who are looking for high quality healthy beverages like Bosa Nova are willing to pay a high price .

The vehicle jack and other hand tools carried by a truck driver are examples of which type of business product?

Burger King developed a new french fry to compete with McDonald's world's best french fry.The specifications included that the crunch would last for seven or more chews.The product failed because consumers did not like the fry as well as McDonald's fry.Burger King did not the idea for both technical and commercial value.

Business analysis for a new product begins with assessing how the new product will fit the firm's total product mix.

How do marketers define innovation?

Which of the following is an important reason for a firm to understand new products?