Question 1

Biotechnology companies often conduct internal R&D efforts but do not bring new products to market.Instead,new biotechnology products come to market through:

Accepted Answer

A) R&D efforts. 
B) licensing technology. 
C) consumer research. 
D) lead users. 
E) brainstorming. 
A) R&D efforts. 
B) licensing technology. 
C) consumer research. 
D) lead users. 
E) brainstorming.

Question 2

A(n)__________________ is a fee paid by manufacturers to get new products into stores or to gain more or better shelf space for products.

Accepted Answer

A) facilitating payment 
B) introductory price promotion 
C) slotting allowance 
D) stocking premium 
E) place holder 
A) facilitating payment 
B) introductory price promotion 
C) slotting allowance 
D) stocking premium 
E) place holder

Question 3

The diffusion of innovation theory is useful to marketers in helping them:

Accepted Answer

A) adjust to the performance life cycle. 
B) avoid the cost of concept testing. 
C) predict which types of customers will buy their product immediately and later. 
D) predict how long it will take for a new product to gain market acceptance. 
E) forecast sales for a new product. 
A) adjust to the performance life cycle. 
B) avoid the cost of concept testing. 
C) predict which types of customers will buy their product immediately and later. 
D) predict how long it will take for a new product to gain market acceptance. 
E) forecast sales for a new product.

Question 4

Without new products,a firm can:

Accepted Answer

A) only market to current customers or similar customers. 
B) only diversify into new product lines. 
C) focus on product reincarnation. 
D) increase prices,because they have only a few products. 
E) worry less about competitors' actions. 
A) only market to current customers or similar customers. 
B) only diversify into new product lines. 
C) focus on product reincarnation. 
D) increase prices,because they have only a few products. 
E) worry less about competitors' actions.

Question 5

Compatibility is important for rapid diffusion of new products because products that are consistent with consumers' past behavior will be more readily accepted.

Accepted Answer

A) True 
 B)False

Question 6

The shape of the product life cycle curve isn't always a smooth bell shape.The curve of a product may be affected by:

Accepted Answer

A) how different the product is from existing products. 
B) how valuable the product is to the customer. 
C) the early adoption rates. 
D) the adoption of complementary products. 
E) All of these. 
A) how different the product is from existing products. 
B) how valuable the product is to the customer. 
C) the early adoption rates. 
D) the adoption of complementary products. 
E) All of these.

Question 7

Describe your actions (or someone you know)in a situation where you were an innovator in the diffusion of innovation curve.

Accepted Answer

Answers will vary but should include des

Question 8

When consumers see their friends using an innovation,it often persuades them to try it too.

Accepted Answer

A) True 
 B)False

Question 9

Why do many biotechnology firms license their new products?

Accepted Answer

These firms specialize in new

Question 10

Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to come up with names for a new beach resort.You are engaged in ________________,a form of new idea generation.

Accepted Answer

A) R&D 
B) licensing technology 
C) consumer research 
D) geodemographic analysis 
E) brainstorming 
A) R&D 
B) licensing technology 
C) consumer research 
D) geodemographic analysis 
E) brainstorming

Question 11

Which of the following is NOT a characteristic of products in the maturity stage of the product life cycle?

Accepted Answer

A) Laggards are a major focus of marketing efforts. 
B) Price competition is intense. 
C) Marketing costs increase as firms defend their market share. 
D) The market may become saturated because nearly all potential customers have adopted the product. 
E) To increase the customer base,firms consider entry into new markets and new market segments. 
A) Laggards are a major focus of marketing efforts. 
B) Price competition is intense. 
C) Marketing costs increase as firms defend their market share. 
D) The market may become saturated because nearly all potential customers have adopted the product. 
E) To increase the customer base,firms consider entry into new markets and new market segments.

Question 12

When Glenn asked a few of his regular customers to test his prototype surfboard,he was engaging in alpha testing.

Accepted Answer

A) True 
 B)False

Question 13

___________________ are special incentives offering reduced prices for a limited time,offered to retailers to get them to try a new product.

Accepted Answer

A) Loss leaders 
B) Push prices 
C) Market skimming incentives 
D) Introductory price promotions 
E) Distribution rebates 
A) Loss leaders 
B) Push prices 
C) Market skimming incentives 
D) Introductory price promotions 
E) Distribution rebates

Question 14

What can go wrong in the market testing phase?

Accepted Answer

Students should demonstrate co

Question 15

By the time BMW and Mercedes Benz entered the mini-SUV market,there were many competitors,sales had peaked,and profits were declining.These firms entered the market during the ______________ stage of the product life cycle.

Accepted Answer

A) introduction 
B) leveling 
C) maturity 
D) growth 
E) decline 
A) introduction 
B) leveling 
C) maturity 
D) growth 
E) decline

Question 16

When Dr.Putt invented his Eye-Over-the-Ball (EOB)golf putting device,he knew during the introductory stage:

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 golfers would be attracted to his product. 
C) sales would slow down,profits would peak,and early adopters of golf equipment would be his major customers. 
D) sales would be low,profits non-existent,and he would attract golf equipment innovators. 
E) sales would be low,profits would be high,and all potential golfers 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 golfers would be attracted to his product. 
C) sales would slow down,profits would peak,and early adopters of golf equipment would be his major customers. 
D) sales would be low,profits non-existent,and he would attract golf equipment innovators. 
E) sales would be low,profits would be high,and all potential golfers would jump at the opportunity to buy his product.

Question 17

Many restaurants offer daily specials,appetizers,entrees,and desserts not listed on their standard menu.These daily specials primarily provide the new product benefit of:

Accepted Answer

A) keeping up in a market where sales come mostly from new products. 
B) satisfying the changing needs of current and new customers. 
C) avoiding market saturation from products that have been on the market for a long time. 
D) creating diversification and reducing risk. 
E) all of these. 
A) keeping up in a market where sales come mostly from new products. 
B) satisfying the changing needs of current and new customers. 
C) avoiding market saturation from products that have been on the market for a long time. 
D) creating diversification and reducing risk. 
E) all of these.

Question 18

When John began helping his favorite uncle Burton with his finances,he discovered his uncle was still renting a rotary-dial telephone from the phone company.Uncle Burton had paid thousands of dollars in rental fees over the previous forty years.Uncle Burton is a(n)______________ in the diffusion of innovation process for telephones.

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 19

As soon as she saw one,Hillary wanted a flat-screen television,but she was worried about making the wrong choice.She waited until there were many alternatives in the market with lower prices and improved quality.Hillary 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 20

Personal selling is often used for introducing new products when _______________ will slow the diffusion of the product.

Accepted Answer

A) relative advantage 
B) compatibility 
C) observability 
D) complexity 
E) accountability 
A) relative advantage 
B) compatibility 
C) observability 
D) complexity 
E) accountability

Biotechnology companies often conduct internal R&D efforts but do not bring new products to market.Instead,new biotechnology products come to market through:

A(n)__________________ is a fee paid by manufacturers to get new products into stores or to gain more or better shelf space for products.

The diffusion of innovation theory is useful to marketers in helping them:

Without new products,a firm can:

Compatibility is important for rapid diffusion of new products because products that are consistent with consumers' past behavior will be more readily accepted.

The shape of the product life cycle curve isn't always a smooth bell shape.The curve of a product may be affected by:

Describe your actions (or someone you know)in a situation where you were an innovator in the diffusion of innovation curve.

When consumers see their friends using an innovation,it often persuades them to try it too.

Why do many biotechnology firms license their new products?

Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to come up with names for a new beach resort.You are engaged in ________________,a form of new idea generation.

Which of the following is NOT a characteristic of products in the maturity stage of the product life cycle?

When Glenn asked a few of his regular customers to test his prototype surfboard,he was engaging in alpha testing.

___________________ are special incentives offering reduced prices for a limited time,offered to retailers to get them to try a new product.

What can go wrong in the market testing phase?

By the time BMW and Mercedes Benz entered the mini-SUV market,there were many competitors,sales had peaked,and profits were declining.These firms entered the market during the ______________ stage of the product life cycle.

When Dr.Putt invented his Eye-Over-the-Ball (EOB)golf putting device,he knew during the introductory stage:

Many restaurants offer daily specials,appetizers,entrees,and desserts not listed on their standard menu.These daily specials primarily provide the new product benefit of:

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

Personal selling is often used for introducing new products when _______________ will slow the diffusion of the product.

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Marketing 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

Strategic Pricing Methods

Value Delivery: Designing the Channel and Supply Chain

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising,public Relations,and Sales Promotions

Personal Selling and Sales Management

Filters

Exam 11: Developing New Products

Biotechnology companies often conduct internal R&D efforts but do not bring new products to market.Instead,new biotechnology products come to market through:

A(n)__________________ is a fee paid by manufacturers to get new products into stores or to gain more or better shelf space for products.

The diffusion of innovation theory is useful to marketers in helping them:

Without new products,a firm can:

Compatibility is important for rapid diffusion of new products because products that are consistent with consumers' past behavior will be more readily accepted.

The shape of the product life cycle curve isn't always a smooth bell shape.The curve of a product may be affected by:

Describe your actions (or someone you know)in a situation where you were an innovator in the diffusion of innovation curve.

When consumers see their friends using an innovation,it often persuades them to try it too.

Why do many biotechnology firms license their new products?

Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to come up with names for a new beach resort.You are engaged in ________________,a form of new idea generation.

Which of the following is NOT a characteristic of products in the maturity stage of the product life cycle?

When Glenn asked a few of his regular customers to test his prototype surfboard,he was engaging in alpha testing.

___________________ are special incentives offering reduced prices for a limited time,offered to retailers to get them to try a new product.

What can go wrong in the market testing phase?

By the time BMW and Mercedes Benz entered the mini-SUV market,there were many competitors,sales had peaked,and profits were declining.These firms entered the market during the ______________ stage of the product life cycle.

When Dr.Putt invented his Eye-Over-the-Ball (EOB)golf putting device,he knew during the introductory stage:

Many restaurants offer daily specials,appetizers,entrees,and desserts not listed on their standard menu.These daily specials primarily provide the new product benefit of:

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

Personal selling is often used for introducing new products when _______________ will slow the diffusion of the product.

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Marketing 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

Strategic Pricing Methods

Value Delivery: Designing the Channel and Supply Chain

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising,public Relations,and Sales Promotions

Personal Selling and Sales Management

Filters