Exam 8: Product I: Innovation and New Product Development

Diffusion refers to ________.

Change happens quickly when a process reaches the moment of critical mass, which is called the ________ point.

Test marketing is an inexpensive way to predict whether a new product will be a success.

Marketers may conduct a massive advertising campaign, called a ________, to educate consumers about a new product.

Procter & Gamble introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Foods became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. General Foods was able to enter the ________ stage of the new-product development process before Procter & Gamble could.

Explain the three layers of the product the marketer needs to understand to adequately serve the consumer.

________ have unique characteristics that are important to buyers at almost any price.

________ are a form of product that are essentially intangible.

In the product concept development and screening phase of new product development, successes generally occur much more frequently than failures.

The vehicle jack and other hand tools carried by a truck driver in case of a flat tire are examples of which type of business product?

What are the phases involved in the development of a new product?

Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process.

Even though most people in the original target market for electric toothbrushes already knew how to brush their teeth, consumers still had some learning to do in order to make good use of the new brushing technique. The electric toothbrush is an example of a ________.

A(n) ________ is a good or service for which consumers will spend time and effort gathering information on price, product attributes, and product quality.

________ is the degree to which a consumer perceives that a new product provides superior benefits.

Why might a company decide to use a beta test for a new product?

A product has three distinct layers. The second layer is the ________, which is the physical good or delivered service.

Marketers would be most likely to use a focus group in which stage of new product development?

Why is reselling the customer an important part of confirmation after the adoption of an innovation?

Commercialization comes in the middle of the new-product development process.