Exam 11: Developing and Managing Products

During the maturity stage of the product life cycle,marginal competitors start dropping out of the market.

Many product failures such as Cucumber antiperspirant spray,Toaster Eggs,and Health-Sea sea-sausages most likely did not succeed because they did not conform to the product characteristic of:

The process by which the adoption of an innovation spreads is referred to as:

List the four stages of the product life cycle and discuss the typical characteristics for each stage.

Describe the idea screening stage of the new-product development process.Describe a common test used during the screening stage.

Which of the following is the LEAST likely source for new-product ideas?

Mitch purchased a 32-inch high-definition television right after they were introduced in the marketplace and paid over $8,000 for it.He has a master's degree in business and is well-informed about electronic products.He is venturesome and is always looking for new products to try.Mitch is best described as a(n):

The phase of the product life cycle in which healthy profits usually begin to appear is the _____ stage.

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.

Fitbit The pedometer is getting kicked up a notch with the new Fitbit device.The Fitbit is a $99 motion-detecting sensing device that can measure the user's activity even when asleep.It digitally records the distance a user walks or runs,right down to the number of steps,and calories burned.The device wirelessly sends data to its Web site,fitbit.com,giving users minute-by-minute details.Users can add consumption information at the Web site,allowing an accurate picture of calorie consumption and expenditures.Unlike other devices,like the Nike + iPod Sport Kit that monitors walking and running and sells for $29 or the Zeo Personal Sleep Coach that records brainwaves while the user is sleeping and sells for $399,the Fitbit combines both functions.The first-time Fitbit setup isn't very easy for users,but once over that hurdle,it's relative easy to use. -Refer to Fitbit.The fact that Fitbit can monitor motion while awake and asleep makes it different from competing products that might increase its rate of adoption.Which product characteristic affecting the rate of adoption does this illustrate?

_____ are eager to try new ideas and products.They typically have higher incomes,are better educated,and are more cosmopolitan than other categories of adopters.

Which of the following products is most likely to be in the decline stage of its product life cycle?

_____ embrace products relatively early in the product life cycle,are likely to be community oriented,and often are opinion leaders themselves.

After the research team at Nabisco had generated more than two dozen new-product ideas for a substitute for partially hydrogenated oils that tastes the same but has zero trans fat,the company formed a committee to analyze whether the product ideas were consistent with the organization's new-product strategy.This is called:

All the brands that satisfy a particular type of need such as shaving products,laundry detergent,soft drinks,and furniture make up a(n):

One advantage for being first on the market with a new product is more resale opportunities.

Increasing globalization of markets and of competition provides a reason for multinational firms to consider new-product development from a worldwide perspective.

When Apple Inc.recently introduced the new version of it's iPhone 3G,it was twice as fast,and cost one half the price of the original iPhone.Since it was not trying to reach a new target market,Apple Inc.was using which new product strategy?

A new medication to eliminate fungal growths on people's toenails may have a slow rate of adoption because it is not a highly visible item in homes.Also,this item is not often discussed among friends and coworkers.This is an example of how the characteristic of _____ can work to slow the adoption process.

Biopure Corp.is developing a human blood substitute called Hemopure.Unlike like donated human blood that needs to be refrigerated and expires after a short period of time,Hemopure is shelf-stable and can be stored for two years or more.It does not need to be matched to a person's blood type like donated blood does.These factors make it well-suited for trauma cases where blood must be transfused at an accident site or on the battlefield.Which product characteristic influencing the rate of adoption does this represent?