Question 1

If a few of Quality Water Systems Inc. customers are asked to try out a new water filter that has not yet been released on the market, this is an example of

Accepted Answer

A) beta testing. 
B) market testing. 
C) premarket tests. 
D) test marketing. 
E) concept testing. 
A) beta testing. 
B) market testing. 
C) premarket tests. 
D) test marketing. 
E) concept testing.

Question 2

What is the difference between an innovator and an early adopter?

Accepted Answer

An innovator is the first to try new pro

Question 3

Golf ball manufacturers use "Iron Mike," a machine that swings a golf club at a constant velocity, to test the distance for new golf ball designs. When using Iron Mike, the manufacturers are engaged in

Accepted Answer

A) concept testing. 
B) market testing. 
C) premarket testing. 
D) product development. 
E) alpha testing. 
A) concept testing. 
B) market testing. 
C) premarket testing. 
D) product development. 
E) alpha testing.

Question 4

Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to many other areas in the world. These products offered ________ with consumers' needs and priorities.

Accepted Answer

A) relative positioning 
B) compatibility 
C) observability 
D) complexity 
E) trialability 
A) relative positioning 
B) compatibility 
C) observability 
D) complexity 
E) trialability

Question 5

Erica carefully studies her options before buying new products. She enjoys new things, especially electronic games, and is very knowledgeable about them. Other people often ask her opinion. In the diffusion of innovation curve, which category does Erica fit in?

Accepted Answer

Erica is a

Question 6

As soon as she saw one, Corinne wanted a curved-screen television, but she was worried about making the wrong choice. She waited until there were alternatives in the market with lower prices and improved quality. Corinne is part of the ________ diffusion of innovation group.

Accepted Answer

A) innovator 
B) laggard 
C) late majority 
D) early majority 
E) early adopter 
A) innovator 
B) laggard 
C) late majority 
D) early majority 
E) early adopter

Question 7

When Simon, an athletic trainer, invented a new heart monitor for runners, he could expect during the introductory stage that

Accepted Answer

A) sales would rise quickly, profits would jump, and even laggards would buy his product. 
B) sales would level off, profits would decline, and mature runners would be attracted to his product. 
C) sales would slow down, profits would peak, and early adopters of running equipment would be his major customers. 
D) sales would be low and profits nonexistent, but he would attract running equipment innovators. 
E) sales would be low, profits would be high, and all potential runners would jump at the opportunity to buy his product. 
A) sales would rise quickly, profits would jump, and even laggards would buy his product. 
B) sales would level off, profits would decline, and mature runners would be attracted to his product. 
C) sales would slow down, profits would peak, and early adopters of running equipment would be his major customers. 
D) sales would be low and profits nonexistent, but he would attract running equipment innovators. 
E) sales would be low, profits would be high, and all potential runners would jump at the opportunity to buy his product.

Question 8

At the end of a brainstorming session, participants are often asked to

Accepted Answer

A) identify the worst ideas. 
B) defer to management for the final decision. 
C) identify which ideas each person proposed. 
D) vote on the best ideas. 
E) propose one more new idea each. 
A) identify the worst ideas. 
B) defer to management for the final decision. 
C) identify which ideas each person proposed. 
D) vote on the best ideas. 
E) propose one more new idea each.

Question 9

What characterizes the maturity stage of the product life cycle?

Accepted Answer

A) Sales: low; Profits: negative or low; Typical consumers: innovators; Competitors: one or few 
B) Sales: rising; Profits: rapidly rising; Typical consumers: early adopters and early majority; Competitors: few but increasing 
C) Sales: declining; Profits: declining; Typical consumers: laggards; Competitors: low number of competitors and products 
D) Sales: peak; Profits: peak to declining; Typical Consumers: late majority; Competitors: high number of competitors and competitive products 
E) Sales: peak; Profits: increase; Typical Consumers: laggards; Competitors: low number of competitors 
A) Sales: low; Profits: negative or low; Typical consumers: innovators; Competitors: one or few 
B) Sales: rising; Profits: rapidly rising; Typical consumers: early adopters and early majority; Competitors: few but increasing 
C) Sales: declining; Profits: declining; Typical consumers: laggards; Competitors: low number of competitors and products 
D) Sales: peak; Profits: peak to declining; Typical Consumers: late majority; Competitors: high number of competitors and competitive products 
E) Sales: peak; Profits: increase; Typical Consumers: laggards; Competitors: low number of competitors

Question 10

Before Segway manufactured its two-wheeled people movers, it built a prototype and had staff engineers test it for performance and stability. At this stage, Segway was involved in

Accepted Answer

A) alpha testing. 
B) product launch. 
C) test marketing. 
D) beta testing. 
E) concept testing. 
A) alpha testing. 
B) product launch. 
C) test marketing. 
D) beta testing. 
E) concept testing.

Question 11

How do changing customer needs foster innovation efforts in business? Provide an example.

Accepted Answer

When they add products, services, and pr

Question 12

Hollywood studios typically release movies targeted toward general audiences (G- or PG-rated movies)during the summer when children are out of school. The timing of the release pertains to the product's

Accepted Answer

A) premarket test. 
B) launch. 
C) evaluation. 
D) research and development. 
E) test marketing. 
A) premarket test. 
B) launch. 
C) evaluation. 
D) research and development. 
E) test marketing.

Question 13

How is consumer panel data collected during the test marketing phase of a new product introduction?

Accepted Answer

A) Panelists complete a questionnaire about the product. 
B) Panelists scan their receipts on a home scanning device. 
C) Stores provide sales data to companies. 
D) Consumers voluntarily go to a website to record their preferences. 
E) Focus groups are held in key markets. 
A) Panelists complete a questionnaire about the product. 
B) Panelists scan their receipts on a home scanning device. 
C) Stores provide sales data to companies. 
D) Consumers voluntarily go to a website to record their preferences. 
E) Focus groups are held in key markets.

Question 14

In the product development process, what takes place between concept testing and market testing?

Accepted Answer

A) securing financial backing 
B) conducting marketing research 
C) brainstorming 
D) determining potential ROI 
E) product design 
A) securing financial backing 
B) conducting marketing research 
C) brainstorming 
D) determining potential ROI 
E) product design

Question 15

Why do marketers take the time and cost associated with test marketing?

Accepted Answer

Test marketing allows firms to

Question 16

Microsoft's Windows operating system continues to dominate the market, even though it has been around for over 20 years. Windows will likely remain in the maturity stage of the product life cycle

Accepted Answer

A) indefinitely. 
B) unless Microsoft repositions it as a growth product. 
C) until a superior product comes along to replace it. 
D) unless Microsoft repositions it as an introductory stage product. 
E) as long as the company doesn't change it. 
A) indefinitely. 
B) unless Microsoft repositions it as a growth product. 
C) until a superior product comes along to replace it. 
D) unless Microsoft repositions it as an introductory stage product. 
E) as long as the company doesn't change it.

Question 17

Jenni belongs to a national consumer panel created by a market research company. She regularly receives samples of new products from a variety of firms and fills out questionnaires about the products. The samples are of products not yet introduced to the public. The national consumer panel Jenni is part of is engaged in

Accepted Answer

A) premarket testing. 
B) product launch. 
C) test marketing. 
D) product development. 
E) concept testing. 
A) premarket testing. 
B) product launch. 
C) test marketing. 
D) product development. 
E) concept testing.

Question 18

During the product launch stage, a company is

Accepted Answer

A) testing the product in a few markets. 
B) introducing the product to the entire market. 
C) evaluating the cost of developing the product. 
D) capturing market data to assess feasibility of the product. 
E) assessing the success or failure of a new product on the market. 
A) testing the product in a few markets. 
B) introducing the product to the entire market. 
C) evaluating the cost of developing the product. 
D) capturing market data to assess feasibility of the product. 
E) assessing the success or failure of a new product on the market.

Question 19

What is a characteristic of competition in the maturity stage of the product life cycle?

Accepted Answer

A) Competition is nonexistent. 
B) Competition begins to drop off. 
C) Competition is intense. 
D) Competition only exists when new products are introduced. 
E) Competition tends to rise slowly and decrease dramatically. 
A) Competition is nonexistent. 
B) Competition begins to drop off. 
C) Competition is intense. 
D) Competition only exists when new products are introduced. 
E) Competition tends to rise slowly and decrease dramatically.

Question 20

Because a market is saturated, firms may attempt to enter new geographical markets that may be less saturated. For example, pharmaceutical companies are realizing that they need to turn to ________ for continued growth in the coming years.

Accepted Answer

A) BRIC countries 
B) third-world countries 
C) communist countries 
D) Germany 
E) France 
A) BRIC countries 
B) third-world countries 
C) communist countries 
D) Germany 
E) France

If a few of Quality Water Systems Inc. customers are asked to try out a new water filter that has not yet been released on the market, this is an example of

What is the difference between an innovator and an early adopter?

Golf ball manufacturers use "Iron Mike," a machine that swings a golf club at a constant velocity, to test the distance for new golf ball designs. When using Iron Mike, the manufacturers are engaged in

Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to many other areas in the world. These products offered ________ with consumers' needs and priorities.

Erica carefully studies her options before buying new products. She enjoys new things, especially electronic games, and is very knowledgeable about them. Other people often ask her opinion. In the diffusion of innovation curve, which category does Erica fit in?

As soon as she saw one, Corinne wanted a curved-screen television, but she was worried about making the wrong choice. She waited until there were alternatives in the market with lower prices and improved quality. Corinne is part of the ________ diffusion of innovation group.

When Simon, an athletic trainer, invented a new heart monitor for runners, he could expect during the introductory stage that

At the end of a brainstorming session, participants are often asked to

What characterizes the maturity stage of the product life cycle?

Before Segway manufactured its two-wheeled people movers, it built a prototype and had staff engineers test it for performance and stability. At this stage, Segway was involved in

How do changing customer needs foster innovation efforts in business? Provide an example.

Hollywood studios typically release movies targeted toward general audiences (G- or PG-rated movies)during the summer when children are out of school. The timing of the release pertains to the product's

How is consumer panel data collected during the test marketing phase of a new product introduction?

In the product development process, what takes place between concept testing and market testing?

Why do marketers take the time and cost associated with test marketing?

Microsoft's Windows operating system continues to dominate the market, even though it has been around for over 20 years. Windows will likely remain in the maturity stage of the product life cycle

During the product launch stage, a company is

What is a characteristic of competition in the maturity stage of the product life cycle?

Because a market is saturated, firms may attempt to enter new geographical markets that may be less saturated. For example, pharmaceutical companies are realizing that they need to turn to ________ for continued growth in the coming years.

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Digital Marketing: Online, Social, and Mobile

Conscious Marketing, Corporate Social Responsibility, and Ethics

Analyzing the Marketing Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Services: the Intangible Product

Pricing Concepts for Capturing Value

Supply Chain and Channel Management

Retailing and Omnichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Personal Selling and Sales Management

Filters

Exam 12: Developing New Products

If a few of Quality Water Systems Inc. customers are asked to try out a new water filter that has not yet been released on the market, this is an example of

What is the difference between an innovator and an early adopter?

Golf ball manufacturers use "Iron Mike," a machine that swings a golf club at a constant velocity, to test the distance for new golf ball designs. When using Iron Mike, the manufacturers are engaged in

Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to many other areas in the world. These products offered ________ with consumers' needs and priorities.

Erica carefully studies her options before buying new products. She enjoys new things, especially electronic games, and is very knowledgeable about them. Other people often ask her opinion. In the diffusion of innovation curve, which category does Erica fit in?

As soon as she saw one, Corinne wanted a curved-screen television, but she was worried about making the wrong choice. She waited until there were alternatives in the market with lower prices and improved quality. Corinne is part of the ________ diffusion of innovation group.

When Simon, an athletic trainer, invented a new heart monitor for runners, he could expect during the introductory stage that

At the end of a brainstorming session, participants are often asked to

What characterizes the maturity stage of the product life cycle?

Before Segway manufactured its two-wheeled people movers, it built a prototype and had staff engineers test it for performance and stability. At this stage, Segway was involved in

How do changing customer needs foster innovation efforts in business? Provide an example.

Hollywood studios typically release movies targeted toward general audiences (G- or PG-rated movies)during the summer when children are out of school. The timing of the release pertains to the product's

How is consumer panel data collected during the test marketing phase of a new product introduction?

In the product development process, what takes place between concept testing and market testing?

Why do marketers take the time and cost associated with test marketing?

Microsoft's Windows operating system continues to dominate the market, even though it has been around for over 20 years. Windows will likely remain in the maturity stage of the product life cycle

During the product launch stage, a company is

What is a characteristic of competition in the maturity stage of the product life cycle?

Because a market is saturated, firms may attempt to enter new geographical markets that may be less saturated. For example, pharmaceutical companies are realizing that they need to turn to ________ for continued growth in the coming years.

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Digital Marketing: Online, Social, and Mobile

Conscious Marketing, Corporate Social Responsibility, and Ethics

Analyzing the Marketing Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Services: the Intangible Product

Pricing Concepts for Capturing Value

Supply Chain and Channel Management

Retailing and Omnichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Personal Selling and Sales Management

Filters