Question 1

What is a "new-to-the-world" product,and how does this type of product impact markets and consumer preferences? Use an example to explain this concept.

Accepted Answer

New-to-the-world products create new markets and can add tremendous value to a firm.They can also radically change the rules of competition and consumer preferences in a market.Examples will vary.

Question 2

One of the key characteristics of brainstorming sessions is that bad ideas should be immediately rejected so the group can focus its attention on good ideas.

Accepted Answer

A) True 
 B)False  False

Question 3

Which of the following is not a reason listed in your text for the high failure rate of new products?

Accepted Answer

A)  failing to assess the market properly 
B)  neglecting to do appropriate product testing 
C)  targeting the wrong segment 
D)  overextending a firm's abilities 
E)  failing to introduce lower-priced alternatives 
A)  failing to assess the market properly 
B)  neglecting to do appropriate product testing 
C)  targeting the wrong segment 
D)  overextending a firm's abilities 
E)  failing to introduce lower-priced alternatives E

Question 4

Why is the failure rate for new products so high?

Accepted Answer

One of the main reasons is the failure t

Question 5

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)  determine a target market. 
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)  determine a target market.

Question 6

During the __________ stage of the product life cycle,sales peak and profits begin to decline as competition becomes intense.

Accepted Answer

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

Question 7

Carmen is ready to launch her company's new product,a line of chocolate for diabetics,based on her instincts and knowledge from 30 years of marketing.Her staff is encouraging her to delay the launch until test marketing can be done.What are the advantages and disadvantages of each approach?

Accepted Answer

Carmen probably has considerable knowled

Question 8

During the ___________ stage of the product life cycle,firms either position themselves for a niche market of loyal consumers or they exit the market.

Accepted Answer

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

Question 9

Even if products succeed,not all consumers adopt new-to-the-world products at the same time.

Accepted Answer

A) True 
 B)False

Question 10

The diffusion of innovation theory focuses on

Accepted Answer

A)  the geographic boundaries of innovation. 
B)  the relationship between pioneer brands and imitators. 
C)  the psychological traits of innovators. 
D)  the rate at which consumers are likely to adopt a new product or service. 
E)  the way a product moves through the product life cycle. 
A)  the geographic boundaries of innovation. 
B)  the relationship between pioneer brands and imitators. 
C)  the psychological traits of innovators. 
D)  the rate at which consumers are likely to adopt a new product or service. 
E)  the way a product moves through the product life cycle.

Question 11

In the United States,most consumer packaged goods found in grocery and discount stores are in the __________ stage of the product life cycle.

Accepted Answer

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

Question 12

Which of the following would not be part of the launch of a new product?

Accepted Answer

A)  determining the marketing budget for the first year of the product 
B)  finalizing the marketing mix variables 
C)  reviewing previously conducted research 
D)  making decisions regarding positioning the product 
E)  starting to make preliminary decisions about the target market 
A)  determining the marketing budget for the first year of the product 
B)  finalizing the marketing mix variables 
C)  reviewing previously conducted research 
D)  making decisions regarding positioning the product 
E)  starting to make preliminary decisions about the target market

Question 13

__________ is the process by which ideas are transformed into new products and services that will help firms grow.

Accepted Answer

A)  Beta testing 
B)  Concept testing 
C)  Innovation 
D)  Reverse engineering 
E)  Competition 
A)  Beta testing 
B)  Concept testing 
C)  Innovation 
D)  Reverse engineering 
E)  Competition

Question 14

Some products may stay comfortably in the maturity phase of the product life cycle until a new product emerges to replace them.An example of such a mature product is

Accepted Answer

A)  e-books. 
B)  refrigerators. 
C)  the VCR. 
D)  smartphones. 
E)  None of these; no product can stay in the maturity phase and survive for very long. 
A)  e-books. 
B)  refrigerators. 
C)  the VCR. 
D)  smartphones. 
E)  None of these; no product can stay in the maturity phase and survive for very long.

Question 15

__________ 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 16

Why do many biotechnology firms license their new products?

Accepted Answer

These firms specialize in new

Question 17

By the time BMW got into the mini-SUV market,sales had leveled off and were even starting to decline.BMW had to target its marketing efforts toward 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 18

The introduction stage of the product life cycle is characterized by negative or low profits.

Accepted Answer

A) True 
 B)False

Question 19

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 20

A major limitation in the use of internal R&D departments for new idea generation is

Accepted Answer

A)  the natural conflict R&D has with adhering to the firm's mission. 
B)  that R&D departments tend to be dissolved once sufficient ideas have been generated. 
C)  that the bureaucracy associated with R&D departments limits the generation of ideas. 
D)  that R&D scientists develop ideas that are impractical to produce. 
E)  the costs associated with an internal R&D department tend to be quite high. 
A)  the natural conflict R&D has with adhering to the firm's mission. 
B)  that R&D departments tend to be dissolved once sufficient ideas have been generated. 
C)  that the bureaucracy associated with R&D departments limits the generation of ideas. 
D)  that R&D scientists develop ideas that are impractical to produce. 
E)  the costs associated with an internal R&D department tend to be quite high.

What is a "new-to-the-world" product,and how does this type of product impact markets and consumer preferences? Use an example to explain this concept.

One of the key characteristics of brainstorming sessions is that bad ideas should be immediately rejected so the group can focus its attention on good ideas.

Which of the following is not a reason listed in your text for the high failure rate of new products?

Why is the failure rate for new products so high?

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

During the __________ stage of the product life cycle,sales peak and profits begin to decline as competition becomes intense.

Carmen is ready to launch her company's new product,a line of chocolate for diabetics,based on her instincts and knowledge from 30 years of marketing.Her staff is encouraging her to delay the launch until test marketing can be done.What are the advantages and disadvantages of each approach?

During the ___________ stage of the product life cycle,firms either position themselves for a niche market of loyal consumers or they exit the market.

Even if products succeed,not all consumers adopt new-to-the-world products at the same time.

The diffusion of innovation theory focuses on

In the United States,most consumer packaged goods found in grocery and discount stores are in the __________ stage of the product life cycle.

Which of the following would not be part of the launch of a new product?

__________ is the process by which ideas are transformed into new products and services that will help firms grow.

Some products may stay comfortably in the maturity phase of the product life cycle until a new product emerges to replace them.An example of such a mature product is

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

Why do many biotechnology firms license their new products?

By the time BMW got into the mini-SUV market,sales had leveled off and were even starting to decline.BMW had to target its marketing efforts toward the __________ diffusion of innovation group.

The introduction stage of the product life cycle is characterized by negative or low profits.

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

A major limitation in the use of internal R&D departments for new idea generation is

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Social and Mobile Marketing

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 Omnichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Personal Selling and Sales Management

Filters

Exam 12: Developing New Products

What is a "new-to-the-world" product,and how does this type of product impact markets and consumer preferences? Use an example to explain this concept.

One of the key characteristics of brainstorming sessions is that bad ideas should be immediately rejected so the group can focus its attention on good ideas.

Which of the following is not a reason listed in your text for the high failure rate of new products?

Why is the failure rate for new products so high?

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

During the __________ stage of the product life cycle,sales peak and profits begin to decline as competition becomes intense.

Carmen is ready to launch her company's new product,a line of chocolate for diabetics,based on her instincts and knowledge from 30 years of marketing.Her staff is encouraging her to delay the launch until test marketing can be done.What are the advantages and disadvantages of each approach?

During the ___________ stage of the product life cycle,firms either position themselves for a niche market of loyal consumers or they exit the market.

Even if products succeed,not all consumers adopt new-to-the-world products at the same time.

The diffusion of innovation theory focuses on

In the United States,most consumer packaged goods found in grocery and discount stores are in the __________ stage of the product life cycle.

Which of the following would not be part of the launch of a new product?

__________ is the process by which ideas are transformed into new products and services that will help firms grow.

Some products may stay comfortably in the maturity phase of the product life cycle until a new product emerges to replace them.An example of such a mature product is

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

Why do many biotechnology firms license their new products?

By the time BMW got into the mini-SUV market,sales had leveled off and were even starting to decline.BMW had to target its marketing efforts toward the __________ diffusion of innovation group.

The introduction stage of the product life cycle is characterized by negative or low profits.

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

A major limitation in the use of internal R&D departments for new idea generation is

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Social and Mobile Marketing

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 Omnichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Personal Selling and Sales Management

Filters