Question 1

Janet is an avid marathon runner.She is what marketers would call an innovator.Janet is likely to:

Accepted Answer

A)  own the newest,most advanced running shoes available. 
B)  attend or participate in the famous national marathons. 
C)  subscribe to newsletters about the latest marathon-running health and nutrition information. 
D)  have a number of marathon running links bookmarked on her computer. 
E)  all of these. 
A)  own the newest,most advanced running shoes available. 
B)  attend or participate in the famous national marathons. 
C)  subscribe to newsletters about the latest marathon-running health and nutrition information. 
D)  have a number of marathon running links bookmarked on her computer. 
E)  all of these.

Question 2

Whenever Donald considers upgrading his personal computer system,he consults with Jeremy,a knowledgeable friend who always has the newest technology.For Donald,Jeremy is a(n)__________ in the diffusion of innovation curve.

Accepted Answer

A)  innovator 
B)  laggard 
C)  late majority 
D)  early majority 
E)  early adopters 
A)  innovator 
B)  laggard 
C)  late majority 
D)  early majority 
E)  early adopters

Question 3

During the __________ stage of the product life cycle,sales rise,profits rise rapidly,and there are a small but increasing number of competitors.

Accepted Answer

A)  introduction 
B)  leveling 
C)  maturity 
D)  growth 
E)  decline 
A)  introduction 
B)  leveling 
C)  maturity 
D)  growth 
E)  decline

Question 4

The diffusion of innovation curve follows the following sequence: innovators,early majority,early adopters,late majority and laggards.

Accepted Answer

A) True 
 B)False

Question 5

The __________ is a specific price at which manufacturers encourage retailers to sell a product.

Accepted Answer

A)  manufacturer's suggested retail price 
B)  slotting fee 
C)  perceived value 
D)  retail margin 
E)  key price point 
A)  manufacturer's suggested retail price 
B)  slotting fee 
C)  perceived value 
D)  retail margin 
E)  key price point

Question 6

The shape of the product life cycle curve isn't always a smooth bell shape.The curve of a product may be affected by:

Accepted Answer

A)  how different the product is from existing products. 
B)  how valuable the product is to the customer. 
C)  the early adoption rates. 
D)  the adoption of complementary products. 
E)  All of these. 
A)  how different the product is from existing products. 
B)  how valuable the product is to the customer. 
C)  the early adoption rates. 
D)  the adoption of complementary products. 
E)  All of these.

Question 7

Lorraine belongs to a national consumer panel created by a market research company.She regularly receives samples of new products from a variety of firms and fills out questionnaires about the products.The national consumer panel Lorraine is part of is engaged in:

Accepted Answer

A)  premarket testing. 
B)  product launch. 
C)  test marketing. 
D)  product development. 
E)  concept testing. 
A)  premarket testing. 
B)  product launch. 
C)  test marketing. 
D)  product development. 
E)  concept testing.

Question 8

When John began helping his favorite uncle Burton with his finances,he discovered his uncle was still renting a rotary-dial telephone from the phone company.Uncle Burton had paid thousands of dollars in rental fees over the previous forty years.Uncle Burton is a(n)__________ in the diffusion of innovation process for telephones.

Accepted Answer

A)  innovator 
B)  laggard 
C)  late majority 
D)  early majority 
E)  early adopter 
A)  innovator 
B)  laggard 
C)  late majority 
D)  early majority 
E)  early adopter

Question 9

If a few of Nintendo's customers are asked to try out a new video game which has not yet been released on the market,this is an example of:

Accepted Answer

A)  beta testing. 
B)  market testing. 
C)  premarket tests. 
D)  test marketing. 
E)  concept testing. 
A)  beta testing. 
B)  market testing. 
C)  premarket tests. 
D)  test marketing. 
E)  concept testing.

Question 10

When Dr.Putt invented his Eye-Over-the-Ball (EOB)golf putting device,he knew during the introductory stage:

Accepted Answer

A)  sales would rise quickly,profits would jump,and even laggards would buy his product. 
B)  sales would level off,profits would decline,and mature golfers would be attracted to his product. 
C)  sales would slow down,profits would peak,and early adopters of golf equipment would be his major customers. 
D)  sales would be low,profits non-existent,and he would attract golf equipment innovators. 
E)  sales would be low,profits would be high,and all potential golfers would jump at the opportunity to buy his product. 
A)  sales would rise quickly,profits would jump,and even laggards would buy his product. 
B)  sales would level off,profits would decline,and mature golfers would be attracted to his product. 
C)  sales would slow down,profits would peak,and early adopters of golf equipment would be his major customers. 
D)  sales would be low,profits non-existent,and he would attract golf equipment innovators. 
E)  sales would be low,profits would be high,and all potential golfers would jump at the opportunity to buy his product.

Question 11

Robin recently bought Voice Over Internet protocol (VOIP)phone service (phone service delivered over the Internet).A few of Robin's friends bought VOIP before she did,but many other friends were interested in Robin's opinions of the new phone service.Robin is a(n)__________ in this product category.

Accepted Answer

A)  innovator 
B)  laggard 
C)  late majority 
D)  early majority 
E)  early adopter 
A)  innovator 
B)  laggard 
C)  late majority 
D)  early majority 
E)  early adopter

Question 12

The diffusion of innovation theory is useful to marketers in helping them:

Accepted Answer

A)  adjust to the performance life cycle. 
B)  avoid the cost of concept testing. 
C)  predict which types of customers will buy their product immediately and later. 
D)  predict how long it will take for a new product to gain market acceptance. 
E)  forecast sales for a new product. 
A)  adjust to the performance life cycle. 
B)  avoid the cost of concept testing. 
C)  predict which types of customers will buy their product immediately and later. 
D)  predict how long it will take for a new product to gain market acceptance. 
E)  forecast sales for a new product.

Question 13

Robin carefully studies her options before buying new products.She enjoys new things,especially electronic games,and is very knowledgeable about them.Other people often ask her opinion.In the diffusion of innovation curve,which category does Robin fit in?

Accepted Answer

Robin is a

Question 14

In approximately 2006,hybrid cars moved from the early adopter to the early majority stage.What did this mean for marketers of hybrid cars?

Accepted Answer

It means sales are taking off because ea

Question 15

As soon as she saw one,Hillary wanted a flat-screen television,but she was worried about making the wrong choice.She waited until there were many alternatives in the market with lower prices and improved quality.Hillary is part of the __________ diffusion of innovation group.

Accepted Answer

A)  innovator 
B)  laggard 
C)  late majority 
D)  early majority 
E)  early adopter 
A)  innovator 
B)  laggard 
C)  late majority 
D)  early majority 
E)  early adopter

Question 16

During the __________ stage of the product life cycle,sales are low and profits are small or negative.

Accepted Answer

A)  introduction 
B)  leveling 
C)  maturity 
D)  growth 
E)  decline 
A)  introduction 
B)  leveling 
C)  maturity 
D)  growth 
E)  decline

Question 17

Lisa was extremely disappointed when,in her first marketing job,she was assigned to work on a product in the mature phase of the product life cycle.Her work in school had focused on new products,which seemed much more exciting.Once she started working with the product team,she became more enthusiastic as she discovered that:

Accepted Answer

A)  she could take the product into a new market segment to stimulate new growth. 
B)  simple product redesign could reinvigorate the product. 
C)  changes in consumers' preferences were opening up new market segments. 
D)  taking the product to international markets would stimulate growth. 
E)  All of these. 
A)  she could take the product into a new market segment to stimulate new growth. 
B)  simple product redesign could reinvigorate the product. 
C)  changes in consumers' preferences were opening up new market segments. 
D)  taking the product to international markets would stimulate growth. 
E)  All of these.

Question 18

A good friend of yours wonders why you always seem to have the latest technology,long before anyone else.He then says,"I always want to wait until the bugs have been worked out.It saves me money and aggravation." Use diffusion of innovation theory to explain how you differ as consumers,and what this means to marketers.

Accepted Answer

Student responses should be able to iden

Question 19

__________ are customers who modify existing products according to their own ideas to suit their specific needs.

Accepted Answer

A)  Early adopters 
B)  Market testers 
C)  Lead users 
D)  Reverse engineers 
E)  Concept testers 
A)  Early adopters 
B)  Market testers 
C)  Lead users 
D)  Reverse engineers 
E)  Concept testers

Question 20

If they create new markets,pioneer or breakthrough products:

Accepted Answer

A)  will likely result in late maturity buying. 
B)  can add tremendous value to firms. 
C)  incorporate reverse engineering outputs. 
D)  require the use of concept testing services. 
E)  must be geographically centered. 
A)  will likely result in late maturity buying. 
B)  can add tremendous value to firms. 
C)  incorporate reverse engineering outputs. 
D)  require the use of concept testing services. 
E)  must be geographically centered.

Janet is an avid marathon runner.She is what marketers would call an innovator.Janet is likely to:

Whenever Donald considers upgrading his personal computer system,he consults with Jeremy,a knowledgeable friend who always has the newest technology.For Donald,Jeremy is a(n)__________ in the diffusion of innovation curve.

During the __________ stage of the product life cycle,sales rise,profits rise rapidly,and there are a small but increasing number of competitors.

The diffusion of innovation curve follows the following sequence: innovators,early majority,early adopters,late majority and laggards.

The __________ is a specific price at which manufacturers encourage retailers to sell a product.

The shape of the product life cycle curve isn't always a smooth bell shape.The curve of a product may be affected by:

Lorraine belongs to a national consumer panel created by a market research company.She regularly receives samples of new products from a variety of firms and fills out questionnaires about the products.The national consumer panel Lorraine is part of is engaged in:

If a few of Nintendo's customers are asked to try out a new video game which has not yet been released on the market,this is an example of:

When Dr.Putt invented his Eye-Over-the-Ball (EOB)golf putting device,he knew during the introductory stage:

Robin recently bought Voice Over Internet protocol (VOIP)phone service (phone service delivered over the Internet).A few of Robin's friends bought VOIP before she did,but many other friends were interested in Robin's opinions of the new phone service.Robin is a(n)__________ in this product category.

The diffusion of innovation theory is useful to marketers in helping them:

Robin carefully studies her options before buying new products.She enjoys new things,especially electronic games,and is very knowledgeable about them.Other people often ask her opinion.In the diffusion of innovation curve,which category does Robin fit in?

In approximately 2006,hybrid cars moved from the early adopter to the early majority stage.What did this mean for marketers of hybrid cars?

As soon as she saw one,Hillary wanted a flat-screen television,but she was worried about making the wrong choice.She waited until there were many alternatives in the market with lower prices and improved quality.Hillary is part of the __________ diffusion of innovation group.

During the __________ stage of the product life cycle,sales are low and profits are small or negative.

__________ are customers who modify existing products according to their own ideas to suit their specific needs.

If they create new markets,pioneer or breakthrough products:

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Marketing Ethics

Analyzing the Marketing Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Services: The Intangible Product

Pricing Concepts for Establishing Value

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Personal Selling and Sales Management

Filters

Exam 11: Developing New Products

Janet is an avid marathon runner.She is what marketers would call an innovator.Janet is likely to:

Whenever Donald considers upgrading his personal computer system,he consults with Jeremy,a knowledgeable friend who always has the newest technology.For Donald,Jeremy is a(n)__________ in the diffusion of innovation curve.

During the __________ stage of the product life cycle,sales rise,profits rise rapidly,and there are a small but increasing number of competitors.

The diffusion of innovation curve follows the following sequence: innovators,early majority,early adopters,late majority and laggards.

The __________ is a specific price at which manufacturers encourage retailers to sell a product.

The shape of the product life cycle curve isn't always a smooth bell shape.The curve of a product may be affected by:

Lorraine belongs to a national consumer panel created by a market research company.She regularly receives samples of new products from a variety of firms and fills out questionnaires about the products.The national consumer panel Lorraine is part of is engaged in:

If a few of Nintendo's customers are asked to try out a new video game which has not yet been released on the market,this is an example of:

When Dr.Putt invented his Eye-Over-the-Ball (EOB)golf putting device,he knew during the introductory stage:

The diffusion of innovation theory is useful to marketers in helping them:

Robin carefully studies her options before buying new products.She enjoys new things,especially electronic games,and is very knowledgeable about them.Other people often ask her opinion.In the diffusion of innovation curve,which category does Robin fit in?

In approximately 2006,hybrid cars moved from the early adopter to the early majority stage.What did this mean for marketers of hybrid cars?

As soon as she saw one,Hillary wanted a flat-screen television,but she was worried about making the wrong choice.She waited until there were many alternatives in the market with lower prices and improved quality.Hillary is part of the __________ diffusion of innovation group.

During the __________ stage of the product life cycle,sales are low and profits are small or negative.

__________ are customers who modify existing products according to their own ideas to suit their specific needs.

If they create new markets,pioneer or breakthrough products:

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Marketing Ethics

Analyzing the Marketing Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Services: The Intangible Product

Pricing Concepts for Establishing Value

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Personal Selling and Sales Management

Filters