Exam 21: Developing and Managing Products

The accuracy of revenue projections for products are affected by:

_____ is a process where a group thinks of as many ways to vary a product or solve a problem as possible without considering the practicality of the ideas.

At the beginning of the maturity stage of the product life cycle,sales typically:

Central Bark is a dog day care center.When you check your dog into a Central Bark you know your pooch will be pampered.Since kennels have been boarding dogs for years,the dog day care is not really a new product.

Global R&D is important for two reasons.What are they?

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.In terms of the new-product development process,Fitbit's availability in retail stores and online shows that it is in the _____ stage.

The process of converting applications for new technologies into marketable products is called:

A new-product strategy:

The Sumatra Coffee Company has two new products.One is a simple hand-cranked coffee grinder.The other is a combination grinder and brewer that also can be used to dispense hot milk.Of these two,the hand-cranked grinder will probably be diffused more quickly because it is less complex.

Draw the sales line and the profit line of the product life cycle in the following diagram,and label each line.Then indicate the names of the four stages of the product life cycle in the blanks provided.

New products are important to a company for all the following reasons EXCEPT:

The MOST important factor in successful new-product introduction is:

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

In which stage of the product life cycle do marginal competitors start dropping out of the market?

Procter & Gamble introduced a new fabric softener dispenser that consumers stick to the inside of the dryer drum and sent consumers free samples in the mail.This strategy likely increased the rate of adoption of the new product.

A biological metaphor that traces the stages of a product's acceptance,from its introduction (birth)to its decline (death)is called the:

Biopure Corp.is developing a human blood substitute called Hemopure.Unlike 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.Also,it does not need to be matched to a person's blood type.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?

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:

For years,Diet Dr.Pepper has been considered a diet drink.After declining sales,the company is attempting to present Diet Dr.Pepper as an alternative to having a dessert.This is an example of a _____ strategy.

There are five categories of adopters participating in the diffusion process.Name and briefly describe each of these five categories in the correct order from first adopter to last adopter.