Question 1

Why are innovators important to marketers?

Accepted Answer

Innovators are crucial to the success of

Question 2

The shape of the diffusion of innovation curve is described as

Accepted Answer

A)  bell-shaped. 
B)  positive. 
C)  negative. 
D)  variant. 
E)  convex. 
A)  bell-shaped. 
B)  positive. 
C)  negative. 
D)  variant. 
E)  convex.

Question 3

Which of the following reflects 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 4

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 5

A company has a new concept for a lightweight electric scooter that can be easily folded and taken with you inside a building or on public transportation. The company is currently engaged in concept testing. The most important question during this phase of product development pertains to

Accepted Answer

A)  the cost of research and development. 
B)  the price of the final product. 
C)  the cost to manufacture the product. 
D)  the costs of marketing and advertising. 
E)  the respondent's purchase intentions if the product were made available. 
A)  the cost of research and development. 
B)  the price of the final product. 
C)  the cost to manufacture the product. 
D)  the costs of marketing and advertising. 
E)  the respondent's purchase intentions if the product were made available.

Question 6

Bob and George live in the United States. Bob recently asked for George's cell phone number, but George said he didn't own a cell phone. George would probably be considered a(n) ________ in the diffusion of innovation process.

Accepted Answer

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

Question 7

Some products may stay comfortably in the maturity phase of the product life cycle until a new product emerges to replace them. An example of such a mature product is

Accepted Answer

A)  e-books. 
B)  dishwashers. 
C)  the VCR. 
D)  smartphones. 
E)  vinyl records. 
A)  e-books. 
B)  dishwashers. 
C)  the VCR. 
D)  smartphones. 
E)  vinyl records.

Question 8

Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from

Accepted Answer

A)  relative advantage. 
B)  compatibility. 
C)  observability. 
D)  complexity. 
E)  trialability. 
A)  relative advantage. 
B)  compatibility. 
C)  observability. 
D)  complexity. 
E)  trialability.

Question 9

Eric is a sales rep for an established building materials manufacturer. Business is good, but he is concerned that the company has spent little on new product development and has not created a new product in over five years. Without new products, Eric can market his current products only to his current customers or

Accepted Answer

A)  diversify. 
B)  intensify his prototyping. 
C)  expand his early adopter market segment. 
D)  market the same products to similar customers. 
E)  focus on concept testing. 
A)  diversify. 
B)  intensify his prototyping. 
C)  expand his early adopter market segment. 
D)  market the same products to similar customers. 
E)  focus on concept testing.

Question 10

________ is the process by which ideas are transformed into new products and services that will help firms grow.

Accepted Answer

A)  Beta testing 
B)  Concept testing 
C)  Innovation 
D)  Reverse engineering 
E)  Competition 
A)  Beta testing 
B)  Concept testing 
C)  Innovation 
D)  Reverse engineering 
E)  Competition

Question 11

Which step in the new product development process is the most critical to the survival of a firm, and why?

Accepted Answer

The product launch is the most

Question 12

Pioneer or breakthrough products

Accepted Answer

A)  will likely result in late maturity buying. 
B)  can change consumer preferences. 
C)  incorporate reverse engineering outputs. 
D)  require the use of concept testing services. 
E)  must be geographically centered. 
A)  will likely result in late maturity buying. 
B)  can change consumer preferences. 
C)  incorporate reverse engineering outputs. 
D)  require the use of concept testing services. 
E)  must be geographically centered.

Question 13

On the diffusion of innovation curve, the late majority is the final group of buyers who like to avoid change and rely on traditional products until they are no longer available.

Accepted Answer

A) True 
 B)False

Question 14

In new product development, what advantage do first movers have?

Accepted Answer

They are the first firm in a p

Question 15

A marketing professor maintains a museum of failed consumer products. Most new products in this museum were tested in Ithaca, New York but failed. Likely, the marketers were testing the products during the ________ stage of new product development.

Accepted Answer

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

Question 16

What is a "new-to-the-world" product, and how does this type of product impact markets and consumer preferences? Use an example to explain this concept.

Accepted Answer

New-to-the-world products crea

Question 17

The fact that the Apple iPad is easy to try-demo units are available at Apple stores as well as other retail stores-has helped it diffuse more quickly.

Accepted Answer

A) True 
 B)False

Question 18

What is the difference between alpha testing and beta testing?

Accepted Answer

Alpha testing involves determining wheth

Question 19

Think back to a time when you have said, "This is great idea. How come nobody thought of this before?" Assuming no one has thought of it before, what would be the first steps to take to develop a new product idea?

Accepted Answer

Student answers will vary considerably,

Question 20

Around 2006, hybrid cars moved from the early adopter to the early majority stage. What did this mean for marketers of hybrid cars?

Accepted Answer

It means sales were taking off; the earl

Why are innovators important to marketers?

The shape of the diffusion of innovation curve is described as

Which of the following reflects the maturity stage of the product life cycle?

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

A company has a new concept for a lightweight electric scooter that can be easily folded and taken with you inside a building or on public transportation. The company is currently engaged in concept testing. The most important question during this phase of product development pertains to

Bob and George live in the United States. Bob recently asked for George's cell phone number, but George said he didn't own a cell phone. George would probably be considered a(n) ________ in the diffusion of innovation process.

Some products may stay comfortably in the maturity phase of the product life cycle until a new product emerges to replace them. An example of such a mature product is

Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from

________ is the process by which ideas are transformed into new products and services that will help firms grow.

Which step in the new product development process is the most critical to the survival of a firm, and why?

Pioneer or breakthrough products

On the diffusion of innovation curve, the late majority is the final group of buyers who like to avoid change and rely on traditional products until they are no longer available.

In new product development, what advantage do first movers have?

A marketing professor maintains a museum of failed consumer products. Most new products in this museum were tested in Ithaca, New York but failed. Likely, the marketers were testing the products during the ________ stage of new product development.

What is a "new-to-the-world" product, and how does this type of product impact markets and consumer preferences? Use an example to explain this concept.

The fact that the Apple iPad is easy to try-demo units are available at Apple stores as well as other retail stores-has helped it diffuse more quickly.

What is the difference between alpha testing and beta testing?

Think back to a time when you have said, "This is great idea. How come nobody thought of this before?" Assuming no one has thought of it before, what would be the first steps to take to develop a new product idea?

Around 2006, hybrid cars moved from the early adopter to the early majority stage. What did this mean for marketers of hybrid cars?

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Social and Mobile Marketing

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 Establishing 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

Why are innovators important to marketers?

The shape of the diffusion of innovation curve is described as

Which of the following reflects the maturity stage of the product life cycle?

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

A company has a new concept for a lightweight electric scooter that can be easily folded and taken with you inside a building or on public transportation. The company is currently engaged in concept testing. The most important question during this phase of product development pertains to

Bob and George live in the United States. Bob recently asked for George's cell phone number, but George said he didn't own a cell phone. George would probably be considered a(n) ________ in the diffusion of innovation process.

Some products may stay comfortably in the maturity phase of the product life cycle until a new product emerges to replace them. An example of such a mature product is

Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from

________ is the process by which ideas are transformed into new products and services that will help firms grow.

Which step in the new product development process is the most critical to the survival of a firm, and why?

Pioneer or breakthrough products

On the diffusion of innovation curve, the late majority is the final group of buyers who like to avoid change and rely on traditional products until they are no longer available.

In new product development, what advantage do first movers have?

A marketing professor maintains a museum of failed consumer products. Most new products in this museum were tested in Ithaca, New York but failed. Likely, the marketers were testing the products during the ________ stage of new product development.

What is a "new-to-the-world" product, and how does this type of product impact markets and consumer preferences? Use an example to explain this concept.

The fact that the Apple iPad is easy to try-demo units are available at Apple stores as well as other retail stores-has helped it diffuse more quickly.

What is the difference between alpha testing and beta testing?

Think back to a time when you have said, "This is great idea. How come nobody thought of this before?" Assuming no one has thought of it before, what would be the first steps to take to develop a new product idea?

Around 2006, hybrid cars moved from the early adopter to the early majority stage. What did this mean for marketers of hybrid cars?

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Social and Mobile Marketing

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 Establishing 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