Exam 11: Developing New Products

Laura is about to launch a new product: herself! She is running for a local political office.First-time candidates quickly learn the importance of marketing.She has consulted with various experts,tested her campaign themes and messages with focus groups,and now is ready to do a full-scale product launch.Why is her product launch the most critical step? What will she need to do?

Michaela took her idea for a new toy for pre-school aged children through a long product development process,and she had just concluded a very successful market test.She was making a list of what she'd need to do to launch the product.Which of the following should appear on her to-do list?

Barbara is using a test model of her firm's new inline skates to see if they work according to the design specifications.Barbara is involved in:

If a new product concept gets positive evaluations from potential customers,the next step for a marketer is:

Which of the following is not a stage in the product life cycle?

Many restaurants offer daily specials,appetizers,entrees,and desserts not listed on their standard menu.These daily specials primarily provide the new product benefit of:

Using the diffusion of innovation theory,what factors contributed to the rapid adoption and success of Amazon.com?

Respond to the statement,"Create or die," from a new product innovation perspective.

Brian is trying to sell a new line of ultrasound imaging equipment.Unlike existing technology,these machines are compact,creating the potential for general practice physicians to have and use them in their offices.Brian is trying to identify innovators in his market,knowing these customers will:

In the diffusion of innovation curve,the late majority is the final group of buyers to adopt an innovation.

Even if they succeed,new-to-the-world products are:

__________ are special incentives offering reduced prices for a limited time,offered to retailers to get them to try a new product.

New product development adds value to a firm's products and services through:

During concept testing for a new product,a marketer will likely ask:

With an understanding of which consumers buy a firm's new products at each stage of the diffusion of innovation process,the firm can adjust its __________ strategy accordingly.

Samples are often used for new products when __________ will influence the diffusion of the product.

Why do marketers take the time and cost associated with test marketing?

Test marketing refers to customers who modify existing products according to their own ideas to suit their specific needs.

Between concept testing and market testing,a firm should engage in which stage of the product development process?

The fact that the Apple iPad is easy to try--demo units are available at Apple stores as well as other retail stores--is helping it to diffuse more quickly.