Exam 8: Product I: Innovation and New Product Development

Which of the following costs is most likely associated with the commercialization stage of new product development?

Explain why the price and perhaps the quality of an emergency product may not be an issue at the time of purchase.

Which of the following is NOT one of the five characteristics of innovations that affect the rate of adoption?

Generally, consumer goods are either ________ or ________.

The state of Missouri is a product that can be promoted as a great place to locate a new business.

The ________ for a guest paying for a night's stay at a hotel would include express checkout and superb room service.

What category of consumer adopters would purchase a product when the product is no longer considered to be risky? Explain your answer.

What must marketers do during the marketing strategy development phase of the new-product-development process?

Marketers estimate ________ when they determine whether anyone is likely to buy a new product.

Marketers classify convenience products as ________.

A fast-food chain wanted to add a new product to its breakfast menu. The company considered a pancake shaped like a muffin. The problem was determining how a customer would add syrup to the pancake while eating and driving. Fortunately, one of the company's suppliers developed a crystallized syrup that seeps through the pancake once it is heated. Explain the phase of new-product development that occurred during this process with the chain and its supplier. Support your rationale.

Microsoft launched a massive $500 million marketing campaign when it introduced the Xbox, promoting the new product through in-store merchandising, retailer incentives, events, and sponsorships, in addition to traditional advertising. What stage of the consumers' adoption of a new product was Microsoft most trying to influence? Support your answer.

Bleeding edge technologies typically move rapidly from adoption by innovators to adoption by the early adopters and early majority.

The need to apply for a patent would most likely arise during which phase of new product development?

Compare and contrast the three types of convenience products.

Explain why consumers may not "sweat the details" when they choose among nondurable goods but have a higher level of involvement when they choose among durable goods.

Which of the following new products had the greatest degree of observability when it was introduced?

Marketers classify products based on where and how consumers buy the products.

For an amusement park, concession food stands and the amusement rides themselves are examples of ________.

________ is the process by which a consumer or business customer begins to buy and use a new good, service, or idea.