Exam 10: Developing and Managing Products

Increasing competition,aggressive brand advertising,and healthy profits are all characteristics found in the introductory stage of the product life cycle.

Razor scooters gained instant popularity because walkers and runners frequently saw people on the scooters zipping by them and having fun.This information suggests the adoption rate of the Razor scooter was most affected by which product characteristic?

Marketers consider which of the following as an example of a new product?

Satek has developed a wireless speaker that sits unobtrusively on a desktop.The tiny,yet strong twin speakers use Bluetooth to stream music directly from your PC or MP3 player.How would this small Satek wireless speaker,which is radically different from anything currently on the market,be classified?

Many products may experience short-term fluctuations in sales,but a long-term drop in sales probably signifies that a product is in the decline stage of the product life cycle.

Which of these is NOT a characteristic that would slow the rate of adoption of new products?

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

The most important factor in successful new-product introductions is a good match between product characteristics and market needs.

During the maturity stage of the product life cycle.

What is the final stage in the new-product development process?

In which stage of new-product development would the technical feasibility of manufacturing the new product as a prototype be examined?

Finland-based Rapala VMC Corporation is the world's largest fishing lure manufacturer.It developed its first fishing lure-a cigar-shaped minnow-in 1962.The annual market for fishing lures in terms of retail sales is approximately $600 million.Rapala VMC garnered one-third of that amount in 2003.New lures must be introduced each year in order to stay competitive in this industry.Like other lure manufacturers,Rapala focuses on two questions in developing and making new lures: Does it work,and does it look good? Developing a new lure takes two or three years and involves extensive field testing by tournament professionals and fishing guides.At the annual fishing industry trade show in 2008,Rapala unveiled the "dream lure for the 21st century." -Refer to Rapala VMC Corporation.The testing of new lures by tournament professionals and fishing guides would take place in which stage of new-product development?

Market researchers have determined nine categories of lifestyles for computer users.One of the categories is described as "Mouse Potatoes," who like the Internet for entertainment and can't wait to buy the latest in "techno-entertainment." In terms of the diffusion process,how would "Mouse Potatoes" be classified?

After years of development and testing,Jabra Corporation unveiled the Jabra 1000 earbud phone.The entire device fits in your ear.It resembles those tiny in-ear speakers that let you listen to an iPod in private-except that Jabra's unit is a transmitter as well.It picks up your voice by amplifying sound vibrations in your bones.Therefore,there's no microphone boom to jut out in front of your face.Because the bone vibrations must be amplified,a special chip in the part of the system that connects to the base of your phone uses noise-cancellation technology to screen out background sounds.This anti-noise chip generates a mirror image of outside noises,and the colliding sound waves erase each other.The main electronics package-about the size of a deck of cards-also monitors the quality of the phone line and automatically raises the volume of voice transmissions when the connection is weak.This tech-talk isn't cheap: the earbud phone lists for $329. -Refer to Jabra Corporation.The Jabra 1000 is technically advanced and somewhat difficult for people to understand.Thus,what might affect the rate of diffusion?

Finland-based Rapala VMC Corporation is the world's largest fishing lure manufacturer.It developed its first fishing lure-a cigar-shaped minnow-in 1962.The annual market for fishing lures in terms of retail sales is approximately $600 million.Rapala VMC garnered one-third of that amount in 2003.New lures must be introduced each year in order to stay competitive in this industry.Like other lure manufacturers,Rapala focuses on two questions in developing and making new lures: Does it work,and does it look good? Developing a new lure takes two or three years and involves extensive field testing by tournament professionals and fishing guides.At the annual fishing industry trade show in 2008,Rapala unveiled the "dream lure for the 21st century." -Refer to Rapala VMC Corporation.The degree to which the newest lures are perceived as superior to earlier models refers to a characteristic used to predict the rate of adoption.What is it called?

Which of the following is NOT a likely source for new-product ideas?

Campbell's Soup has developed a line of premium soups called Campbell's Select Gold Label to go with its red-label brands.This is an example of a new product.

Top managers at a company that publishes regional magazines considered making maps,but then decided maps were not within the company's corporate mission.Which stage of the new-product development process did its new-product development process reach?

The same manufacturer produces Hanes,Playtex,and Bali clothing for women.This manufacturer assembled a group of nine regular customers and asked them to discuss what they like and do not like about its current product line for full-figured women and to suggest new-product ideas,such as jewellery,wide shoes,and belts.Which research technique did the manufacturer use?

After products and marketing programs have been developed for new products,they are usually tested in the marketplace.What is test marketing? How might a company benefit from the use of test marketing? How can test marketing cause problems for a company?