Question 1

Which of the following is LEAST likely to be a source of ideas for new products?

Accepted Answer

A)  R&D efforts 
B)  Licensing technology 
C)  Consumer research 
D)  Geodemographic segmentation 
E)  Brainstorming 
A)  R&D efforts 
B)  Licensing technology 
C)  Consumer research 
D)  Geodemographic segmentation 
E)  Brainstorming

Question 2

The CEO of David's firm just came back from a business seminar,and he called David into his office."I just found out about the product life cycle curve in a strategy seminar.This is a great tool.I want you to drop whatever you're doing and inventory all of our products to determine exactly where they are in the product life cycle." David needs to think fast for a good answer because he knows that:

Accepted Answer

A)  the product life cycle is not a useful concept. 
B)  it is often impossible to identify with precision where a product is in the product life cycle. 
C)  the product life cycle is not helpful in companies like his that pay attention to diffusion of innovation. 
D)  the idea has been discredited by recent research. 
E)  All of these. 
A)  the product life cycle is not a useful concept. 
B)  it is often impossible to identify with precision where a product is in the product life cycle. 
C)  the product life cycle is not helpful in companies like his that pay attention to diffusion of innovation. 
D)  the idea has been discredited by recent research. 
E)  All of these.

Question 3

The maturity phase of the product life cycle is characterized by greatly reduced competition.

Accepted Answer

A) True 
 B)False

Question 4

A __________ is a medical study that tests the safety and effectiveness of a drug or treatment in people.

Accepted Answer

A)  pharmaceutical prototype 
B)  clinical trial 
C)  medical protocol 
D)  treatment identification 
E)  medical efficacy test 
A)  pharmaceutical prototype 
B)  clinical trial 
C)  medical protocol 
D)  treatment identification 
E)  medical efficacy test

Question 5

Why do many biotechnology firms license their new products?

Accepted Answer

These firms specialize in new

Question 6

Define and describe the product life cycle stage in which laggards begin to purchase products.

Accepted Answer

Most laggards begin to purchase during t

Question 7

The majority of new products are failures.

Accepted Answer

A) True 
 B)False

Question 8

In many cases,pioneers lose their market lead and initial market share to imitators who:

Accepted Answer

A)  capitalize on the pioneers' weaknesses. 
B)  create similar products with reduced value to consumers. 
C)  utilize alpha-beta testing. 
D)  ignore patents and copyrights. 
E)  target late maturity consumers. 
A)  capitalize on the pioneers' weaknesses. 
B)  create similar products with reduced value to consumers. 
C)  utilize alpha-beta testing. 
D)  ignore patents and copyrights. 
E)  target late maturity consumers.

Question 9

Dee has a new product concept for her Internet anti-piracy software company.She knows she needs to do exploratory research such as:

Accepted Answer

A)  in-depth interviews. 
B)  focus groups. 
C)  Internet surveys. 
D)  trade show intercept surveys. 
E)  all of these. 
A)  in-depth interviews. 
B)  focus groups. 
C)  Internet surveys. 
D)  trade show intercept surveys. 
E)  all of these.

Question 10

When Glenn asked a few of his regular customers to test his prototype surfboard,he was engaging in alpha testing.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is the correct sequence of new product adopters in the Diffusion of Innovation Curve?

Accepted Answer

A)  Innovators,Early adopters,Early majority,Late majority,Laggards 
B)  Early adopters,Early majority,Innovators,Late majority,Laggards 
C)  Innovators,Early majority,Early adopters,Innovators,Late majority,Laggards 
D)  Early majority,Late majority,Early adopters,Innovators,Laggards 
E)  Innovators,Late majority,Early adopters,Early majority,Laggards 
A)  Innovators,Early adopters,Early majority,Late majority,Laggards 
B)  Early adopters,Early majority,Innovators,Late majority,Laggards 
C)  Innovators,Early majority,Early adopters,Innovators,Late majority,Laggards 
D)  Early majority,Late majority,Early adopters,Innovators,Laggards 
E)  Innovators,Late majority,Early adopters,Early majority,Laggards

Question 12

By adding new product lines beyond its core business of computer software,like the XBox 360 game system,Microsoft primarily benefits by:

Accepted Answer

A)  keeping up in a market where sales come mostly from new products. 
B)  satisfying the changing needs of the technological research staff. 
C)  avoiding market saturation from products that have just been introduced to the market. 
D)  diversifying and reducing risk. 
E)  all of these. 
A)  keeping up in a market where sales come mostly from new products. 
B)  satisfying the changing needs of the technological research staff. 
C)  avoiding market saturation from products that have just been introduced to the market. 
D)  diversifying and reducing risk. 
E)  all of these.

Question 13

The diffusion of innovation curve proposes that purchasers can be divided into five groups.The first group consists of buyers who want to be the first on the block to have the new product; they are known as early adopters.

Accepted Answer

A) True 
 B)False

Which of the following is LEAST likely to be a source of ideas for new products?

The maturity phase of the product life cycle is characterized by greatly reduced competition.

A __________ is a medical study that tests the safety and effectiveness of a drug or treatment in people.

Why do many biotechnology firms license their new products?

Define and describe the product life cycle stage in which laggards begin to purchase products.

The majority of new products are failures.

In many cases,pioneers lose their market lead and initial market share to imitators who:

Dee has a new product concept for her Internet anti-piracy software company.She knows she needs to do exploratory research such as:

When Glenn asked a few of his regular customers to test his prototype surfboard,he was engaging in alpha testing.

Which of the following is the correct sequence of new product adopters in the Diffusion of Innovation Curve?

By adding new product lines beyond its core business of computer software,like the XBox 360 game system,Microsoft primarily benefits by:

The diffusion of innovation curve proposes that purchasers can be divided into five groups.The first group consists of buyers who want to be the first on the block to have the new product; they are known as early adopters.

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

Which of the following is LEAST likely to be a source of ideas for new products?

The maturity phase of the product life cycle is characterized by greatly reduced competition.

A __________ is a medical study that tests the safety and effectiveness of a drug or treatment in people.

Why do many biotechnology firms license their new products?

Define and describe the product life cycle stage in which laggards begin to purchase products.

The majority of new products are failures.

In many cases,pioneers lose their market lead and initial market share to imitators who:

Dee has a new product concept for her Internet anti-piracy software company.She knows she needs to do exploratory research such as:

When Glenn asked a few of his regular customers to test his prototype surfboard,he was engaging in alpha testing.

Which of the following is the correct sequence of new product adopters in the Diffusion of Innovation Curve?

By adding new product lines beyond its core business of computer software,like the XBox 360 game system,Microsoft primarily benefits by:

The diffusion of innovation curve proposes that purchasers can be divided into five groups.The first group consists of buyers who want to be the first on the block to have the new product; they are known as early adopters.

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