Exam 11: Developing and Managing Products

Messages directed directly from marketers toward early adopters should normally use different appeals than messages directed toward the early majority,the late majority,or the laggards.

The marketing manager for a company that manufactures pet foods wants to base the marketing strategy she implements for the company's products on the product life cycle stages.In order to do this,she should:

Hemopure is a blood substitute developed by Biopure Corporation.It does not have to be refrigerated or blood-typed like donated human blood that is currently being used in blood transfusions.It comes in bags just like donated blood,so it can be used with IV tubes and needles just like donated human blood is used.As a result,medical personnel will not have to make any adjustments if they adopted this product.Name and describe the five product characteristics influencing the rate of adoption of new products and explain how each factor will influence the rate of adoption of a blood substitute like Hemopure.

For a firm that adheres to the product concept,the logical place to start generating new-product ideas is with the customers of the firm.

Going to the Dogs Demand for pet services is greatly increasing across the United States. In fact,Americans will spend nearly $44 billion dollars on their pets this year.Many American dog owners are seeking out "doggy daycares" that are more like a resort or spa than an ordinary kennel for their canine companion.Daycare services for dogs now include toy rooms,outside play areas,doggie massages,treadmills,swimming pools and cushy beds for nap time.Pet owners can watch their pets via a Web cam and some doggy daycares have a phone where owners can talk to their dog when they feel their pet needs to hear their voice. Rates vary from $20 to $45 a day per pet,depending on the amenities that the pet owner chooses. -Refer to Going to the Dogs.The doggy daycare center is more like a dog resort than a dog kennel.A dog daycare represents what type of new product?

Finland-based Rapala VMC Corporation is the world's largest fishing lure manufacturer.It developed its first fishing lure--a cigar-shaped minnow--in 1962.The annual market for fishing lures in terms of retail sales is approximately $600 million.Rapala VMC garnered one-third of that amount in 2008.New lures must be introduced each year in order to stay competitive in this industry.Like other lure manufacturers,Rapala focuses on two questions in developing and making new lures: Does it work,and does it look good? Developing a new lure takes two or three years and involves extensive field testing by tournament professionals and fishing guides.At the annual fishing industry trade show in 2008,Rapala unveiled the "dream lure for the 21ˢᵗ century." -Refer to Rapala.The degree to which the newest lures are perceived as superior to earlier models refers to their _____,a characteristic used to predict the rate of adoption.

Describe how a multinational corporation can most efficiently and effectively meet the needs of the global market.

Liz tends to adopt new products sooner than a lot of other people,but she weighs the pros and cons before buying.She does considerable product research,but her friends don't really look to her for information.She really deliberates before she makes a purchase.Liz is best described as a(n):

The Sumatra Coffee Company has two new products.One is a simple hand-cranked coffee grinder.The other is a combination grinder and brewer that also can be used to dispense hot milk.Of these two,the hand-cranked grinder will probably be diffused more quickly because it is less complex.

Martina loves her new Kindle and has tweeted to her followers several times about how great the product is.This is an example of communication directly from the marketer to potential adopters.

Oakley,a manufacturer of protective eyewear for various kinds of sports,has introduced sunglasses that play music.The glasses weigh just a few ounces and can hold up to 120 songs.These sunglasses would be an example of a(n):

A product that is perceived as new by a potential adopter,whether the product is "new to the world" or simply new to the individual,is a(n):

The MOST important factor in successful new-product introduction is:

The two techniques that are considered most useful for generating new-product ideas are customer-generation and competitive imitation.

Apple recently introduced a newly designed iPod nano with Multi-Touch capability,a built-in FM radio,and mix-making Genius.Since it was not trying to reach a new target market,Apple was using which new product strategy?

Finland-based Rapala VMC Corporation is the world's largest fishing lure manufacturer.It developed its first fishing lure--a cigar-shaped minnow--in 1962.The annual market for fishing lures in terms of retail sales is approximately $600 million.Rapala VMC garnered one-third of that amount in 2008.New lures must be introduced each year in order to stay competitive in this industry.Like other lure manufacturers,Rapala focuses on two questions in developing and making new lures: Does it work,and does it look good? Developing a new lure takes two or three years and involves extensive field testing by tournament professionals and fishing guides.At the annual fishing industry trade show in 2008,Rapala unveiled the "dream lure for the 21ˢᵗ century." -Refer to Rapala.The testing of new lures by tournament professionals and fishing guides would take place in which stage of new-product development?

Which product characteristic affecting the rate of adoption represents the degree to which the new product is consistent with existing values and product knowledge,past experiences,and current needs?

The final stage in the new-product development process is:

Discuss alternatives to traditional test marketing.

Going to the Dogs Demand for pet services is greatly increasing across the United States. In fact,Americans will spend nearly $44 billion dollars on their pets this year.Many American dog owners are seeking out "doggy daycares" that are more like a resort or spa than an ordinary kennel for their canine companion.Daycare services for dogs now include toy rooms,outside play areas,doggie massages,treadmills,swimming pools and cushy beds for nap time.Pet owners can watch their pets via a Web cam and some doggy daycares have a phone where owners can talk to their dog when they feel their pet needs to hear their voice. Rates vary from $20 to $45 a day per pet,depending on the amenities that the pet owner chooses. -Refer to Going to the Dogs.Laura felt a little bad about leaving her dog,Toby,at home all day while she was at work.She remarked to a coworker one day about her concerns and was surprised when the coworker told her about the local "doggy daycare" business,which she had never heard of before.Because Laura did not know such a service existed,"doggy daycare" represented a(n)_____ to her.