Question 1

_____ is the degree to which a product can be sampled on a limited basis.

Accepted Answer

A) Compatibility 
B) Trialability 
C) Observability 
D) Complexity 
A) Compatibility 
B) Trialability 
C) Observability 
D) Complexity

Question 2

Which of the following is a similarity between the early majority and the late majority?

Accepted Answer

A) Both have the potential to become opinion leaders. 
B) Both rely on science and experts for information. 
C) Both depend on word-of-mouth communication. 
D) Both prefer to be influenced by the mass media. 
A) Both have the potential to become opinion leaders. 
B) Both rely on science and experts for information. 
C) Both depend on word-of-mouth communication. 
D) Both prefer to be influenced by the mass media.

Question 3

Fournotts Corp. manufactures and sells accessories for cell phones. To boost its sales, the research and development team decides to use the method of product modification. In this scenario, the research and development team will most likely:

Accepted Answer

A) eliminate products that are inconsistent with Fournotts's business mission. 
B) develop products by the application of a new technology. 
C) make a slight change in the design or function of the existing products. 
D) add new products to supplement Fournotts's established product line. 
A) eliminate products that are inconsistent with Fournotts's business mission. 
B) develop products by the application of a new technology. 
C) make a slight change in the design or function of the existing products. 
D) add new products to supplement Fournotts's established product line.

Question 4

Roger, an affluent college graduate, buys gadgets on the day of their launch in the market. He reads expert reviews on the Internet, and he is not influenced by the opinions of his family and friends while choosing products. Roger is most likely to belong to the category of _____ in the context of diffusion of innovation.

Accepted Answer

A) the late majority 
B) innovators 
C) the early majority 
D) early adopters 
A) the late majority 
B) innovators 
C) the early majority 
D) early adopters

Question 5

Which of the following is the most important factor in successful new-product introduction?

Accepted Answer

A) The features of the new product should be similar to its substitutes in the market. 
B) The product should not be developed using crowdsourcing. 
C) The new product should be priced lower than the other products in the same category. 
D) The new product should deliver a meaningful and perceivable benefit to a sizable number of people. 
A) The features of the new product should be similar to its substitutes in the market. 
B) The product should not be developed using crowdsourcing. 
C) The new product should be priced lower than the other products in the same category. 
D) The new product should deliver a meaningful and perceivable benefit to a sizable number of people.

Question 6

The growth stage of the product life cycle (PLC) represents the full-scale launch of a new product into the marketplace.

Accepted Answer

A) True 
 B)False

Question 7

The rate of decline of sales is governed by how rapidly consumer tastes change or substitute products are adopted.

Accepted Answer

A) True 
 B)False

Question 8

In the context of product characteristics and the rate of adoption, which of the following statements is true of relative advantage?

Accepted Answer

A) It refers to the degree of difficulty involved in understanding and using a new product. 
B) It refers to the degree to which a new product is consistent with existing values. 
C) It refers to the degree to which a product is perceived as superior to existing substitutes. 
D) It refers to the degree to which a product can be tried on a limited basis. 
A) It refers to the degree of difficulty involved in understanding and using a new product. 
B) It refers to the degree to which a new product is consistent with existing values. 
C) It refers to the degree to which a product is perceived as superior to existing substitutes. 
D) It refers to the degree to which a product can be tried on a limited basis.

Question 9

Describe the growth stage of the product life cycle.

Accepted Answer

Answers will vary. If a product category

Question 10

How is the Internet important for implementing simultaneous product development?

Accepted Answer

Answers will vary. The Internet is a use

Question 11

A concept test evaluates an existing product idea, after the creation of a prototype.

Accepted Answer

A) True 
 B)False

Question 12

The product life cycle (PLC) for a brand is usually longer than the PLC for a product form.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following statements best describes simultaneous product development?

Accepted Answer

A) It is a strategy that provides general guidelines for generating, screening, and evaluating new-product ideas. 
B) It is used to determine the reactions of potential customers in a market situation. 
C) It is the process where all the involved areas work together rather than sequentially during a product's development. 
D) It is a strategy that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation. 
A) It is a strategy that provides general guidelines for generating, screening, and evaluating new-product ideas. 
B) It is used to determine the reactions of potential customers in a market situation. 
C) It is the process where all the involved areas work together rather than sequentially during a product's development. 
D) It is a strategy that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation.

Question 14

Which of the following statements is true of a customer innovation center?

Accepted Answer

A) It is an approach to reposition a company's products. 
B) It promotes status-conscious advertising among customers. 
C) It is a forum for meeting with customers and directly involving them in the innovation process. 
D) It is used in the business analysis stage of the new-product development process. 
A) It is an approach to reposition a company's products. 
B) It promotes status-conscious advertising among customers. 
C) It is a forum for meeting with customers and directly involving them in the innovation process. 
D) It is used in the business analysis stage of the new-product development process.

Question 15

Jenny, the owner of an ice cream parlor, has been experimenting with different flavors to create a new exotic ice cream for her customers. After much deliberation and many tests, she decides to market the new Beet Cake with Black Walnut variant. In this scenario, the chosen ice cream flavor has entered the _____ stage of the new-product development process.

Accepted Answer

A) business analysis 
B) development 
C) test marketing 
D) commercialization 
A) business analysis 
B) development 
C) test marketing 
D) commercialization

Question 16

Which of the following is an objective of focus group interviews?

Accepted Answer

A) To stimulate insightful comments through group interaction 
B) To directly involve customers in test marketing 
C) To reject ideas that are obviously inappropriate for some reason 
D) To eliminate ideas that are inconsistent with an organization's new-product strategy 
A) To stimulate insightful comments through group interaction 
B) To directly involve customers in test marketing 
C) To reject ideas that are obviously inappropriate for some reason 
D) To eliminate ideas that are inconsistent with an organization's new-product strategy

Question 17

In comparison to early adopters, which of the following statements is true of the early majority?

Accepted Answer

A) They are more likely to be opinion leaders. 
B) They are less likely to extend the adoption process. 
C) They are self-confident, and they rely less on group norms. 
D) They are likely to collect more information and evaluate more brands. 
A) They are more likely to be opinion leaders. 
B) They are less likely to extend the adoption process. 
C) They are self-confident, and they rely less on group norms. 
D) They are likely to collect more information and evaluate more brands.

Question 18

A firm that starts with a global strategy is better able to develop products that are marketable worldwide.

Accepted Answer

A) True 
 B)False

Question 19

In the context of the product life cycle, a long-run drop in a product's sales signals the beginning of the _____.

Accepted Answer

A) introductory stage 
B) growth stage 
C) maturity stage 
D) decline stage 
A) introductory stage 
B) growth stage 
C) maturity stage 
D) decline stage

Question 20

Which of the following is an advantage of simultaneous product development?

Accepted Answer

A) It shortens the development process and reduces costs. 
B) It eliminates the need for conducting laboratory tests on product prototypes. 
C) It ensures that product development occurs in highly structured stages. 
D) It eliminates the need for test marketing a new product. 
A) It shortens the development process and reduces costs. 
B) It eliminates the need for conducting laboratory tests on product prototypes. 
C) It ensures that product development occurs in highly structured stages. 
D) It eliminates the need for test marketing a new product.

_____ is the degree to which a product can be sampled on a limited basis.

Which of the following is a similarity between the early majority and the late majority?

Fournotts Corp. manufactures and sells accessories for cell phones. To boost its sales, the research and development team decides to use the method of product modification. In this scenario, the research and development team will most likely:

Which of the following is the most important factor in successful new-product introduction?

The growth stage of the product life cycle (PLC) represents the full-scale launch of a new product into the marketplace.

The rate of decline of sales is governed by how rapidly consumer tastes change or substitute products are adopted.

In the context of product characteristics and the rate of adoption, which of the following statements is true of relative advantage?

Describe the growth stage of the product life cycle.

How is the Internet important for implementing simultaneous product development?

A concept test evaluates an existing product idea, after the creation of a prototype.

The product life cycle (PLC) for a brand is usually longer than the PLC for a product form.

Which of the following statements best describes simultaneous product development?

Which of the following statements is true of a customer innovation center?

Which of the following is an objective of focus group interviews?

In comparison to early adopters, which of the following statements is true of the early majority?

A firm that starts with a global strategy is better able to develop products that are marketable worldwide.

In the context of the product life cycle, a long-run drop in a product's sales signals the beginning of the _____.

Which of the following is an advantage of simultaneous product development?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising, Public Relations, and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters

Exam 11: Developing and Managing Products

_____ is the degree to which a product can be sampled on a limited basis.

Which of the following is a similarity between the early majority and the late majority?

Fournotts Corp. manufactures and sells accessories for cell phones. To boost its sales, the research and development team decides to use the method of product modification. In this scenario, the research and development team will most likely:

Which of the following is the most important factor in successful new-product introduction?

The growth stage of the product life cycle (PLC) represents the full-scale launch of a new product into the marketplace.

The rate of decline of sales is governed by how rapidly consumer tastes change or substitute products are adopted.

In the context of product characteristics and the rate of adoption, which of the following statements is true of relative advantage?

Describe the growth stage of the product life cycle.

How is the Internet important for implementing simultaneous product development?

A concept test evaluates an existing product idea, after the creation of a prototype.

The product life cycle (PLC) for a brand is usually longer than the PLC for a product form.

Which of the following statements best describes simultaneous product development?

Which of the following statements is true of a customer innovation center?

Which of the following is an objective of focus group interviews?

In comparison to early adopters, which of the following statements is true of the early majority?

A firm that starts with a global strategy is better able to develop products that are marketable worldwide.

In the context of the product life cycle, a long-run drop in a product's sales signals the beginning of the _____.

Which of the following is an advantage of simultaneous product development?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising, Public Relations, and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters