Question 1

Which of the following is not one of the five groups in the diffusion of innovation curve?

Accepted Answer

A)  Innovators 
B)  Non-adopters 
C)  Late majority 
D)  Early majority 
E)  Early adopters 
A)  Innovators 
B)  Non-adopters 
C)  Late majority 
D)  Early majority 
E)  Early adopters

Question 2

Eric is a sales rep for an established building materials manufacturer.Business is good,but he is concerned that the company has spent little on new product development and has not created a new product in over five years.Without new products,Eric can market his current products only to his current customers or

Accepted Answer

A)  diversify. 
B)  intensify his prototyping. 
C)  expand his early adopter market segment. 
D)  market the same products to similar customers. 
E)  focus on concept testing. 
A)  diversify. 
B)  intensify his prototyping. 
C)  expand his early adopter market segment. 
D)  market the same products to similar customers. 
E)  focus on concept testing.

Question 3

As it pertains to the diffusion of innovation,if the __________ group is relatively small,the number of people who ultimately adopt the innovation likely will also be small.

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 4

Paul listens to music on his iPod and iPhone,but he still buys vinyl records at his local music store on occasion,although they are getting harder to find.Vinyl records are in the __________ stage of the product life cycle.

Accepted Answer

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

Question 5

If a new product concept gets positive evaluations from potential customers during concept testing,the next step for a firm is

Accepted Answer

A)  market testing. 
B)  product development. 
C)  brainstorming. 
D)  reverse engineering. 
E)  launching of the product. 
A)  market testing. 
B)  product development. 
C)  brainstorming. 
D)  reverse engineering. 
E)  launching of the product.

Question 6

Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to generate ideas for names for a new beach resort.You are engaged in __________,a form of new idea generation.

Accepted Answer

A)  R&D 
B)  licensing technology 
C)  consumer research 
D)  geodemographic analysis 
E)  brainstorming 
A)  R&D 
B)  licensing technology 
C)  consumer research 
D)  geodemographic analysis 
E)  brainstorming

Question 7

Why is it important for marketers to understand the product life cycle?

Accepted Answer

Product strategies and tactics

Question 8

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 9

Golf ball manufacturers use "Iron Mike," a machine that swings a golf club at a constant velocity,to test the distance for new golf ball designs.When using Iron Mike,the manufacturers are engaged in

Accepted Answer

A)  concept testing. 
B)  market testing. 
C)  premarket testing. 
D)  product development. 
E)  alpha testing. 
A)  concept testing. 
B)  market testing. 
C)  premarket testing. 
D)  product development. 
E)  alpha testing.

Question 10

The failure rate for new products is high.

Accepted Answer

A) True 
 B)False

Question 11

Companies that develop customized-business software often work closely with their users when installing their products.This close contact often creates new product ideas through

Accepted Answer

A)  reverse engineering. 
B)  licensing technology. 
C)  customer input. 
D)  R&D consortia. 
E)  clinical trials. 
A)  reverse engineering. 
B)  licensing technology. 
C)  customer input. 
D)  R&D consortia. 
E)  clinical trials.

Question 12

In new product development,what advantage do first movers have?

Accepted Answer

They are the first firm in a p

Question 13

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

Accepted Answer

A)  keeping up in a market where sales come mostly from new products. 
B)  satisfying the changing needs of current and new customers. 
C)  avoiding market saturation from products that have been on the market for a long time. 
D)  creating diversification and reducing risk. 
E)  reduction in cost of ingredients. 
A)  keeping up in a market where sales come mostly from new products. 
B)  satisfying the changing needs of current and new customers. 
C)  avoiding market saturation from products that have been on the market for a long time. 
D)  creating diversification and reducing risk. 
E)  reduction in cost of ingredients.

Question 14

New-to-the-world products that create new markets can add tremendous value to firms.

Accepted Answer

A) True 
 B)False

Question 15

How is consumer panel data collected during the test marketing phase of a new product introduction?

Accepted Answer

A)  Panelists complete a questionnaire about the product. 
B)  Panelists scan their receipts on a home scanning device. 
C)  Stores provide sales data to companies. 
D)  Consumers voluntarily go to a website to record their preferences. 
E)  Focus groups are held in key markets. 
A)  Panelists complete a questionnaire about the product. 
B)  Panelists scan their receipts on a home scanning device. 
C)  Stores provide sales data to companies. 
D)  Consumers voluntarily go to a website to record their preferences. 
E)  Focus groups are held in key markets.

Question 16

Before the development of computer-assisted design software,many firms handcrafted __________,wooden or clay models that served as rough physical representations of a new product.

Accepted Answer

A)  premarket tests 
B)  blockbusters 
C)  prototypes 
D)  storyboards 
E)  designer models 
A)  premarket tests 
B)  blockbusters 
C)  prototypes 
D)  storyboards 
E)  designer models

Question 17

Describe a product that is in the early majority stage of the new product diffusion curve.

Accepted Answer

Answers will vary,but should include a p

Question 18

During the __________ stage of the product life cycle,there are few but an increasing number of competitors.

Accepted Answer

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

Question 19

General Electric is developing a new magnetic resonance imaging (MRI)device to be marketed to family practice physicians.These new machines will be much smaller and less expensive than the existing MRI machines now in most hospitals.What factors will probably affect the diffusion of these new machines?

Accepted Answer

First,the relative advantage is signific

Question 20

Which step in the new product development process is the most critical to the survival of a firm,and why?

Accepted Answer

The product launch is the most

Which of the following is not one of the five groups in the diffusion of innovation curve?

As it pertains to the diffusion of innovation,if the __________ group is relatively small,the number of people who ultimately adopt the innovation likely will also be small.

Paul listens to music on his iPod and iPhone,but he still buys vinyl records at his local music store on occasion,although they are getting harder to find.Vinyl records are in the __________ stage of the product life cycle.

If a new product concept gets positive evaluations from potential customers during concept testing,the next step for a firm is

Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to generate ideas for names for a new beach resort.You are engaged in __________,a form of new idea generation.

Why is it important for marketers to understand the product life cycle?

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?

Golf ball manufacturers use "Iron Mike," a machine that swings a golf club at a constant velocity,to test the distance for new golf ball designs.When using Iron Mike,the manufacturers are engaged in

The failure rate for new products is high.

Companies that develop customized-business software often work closely with their users when installing their products.This close contact often creates new product ideas through

In new product development,what advantage do first movers have?

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

New-to-the-world products that create new markets can add tremendous value to firms.

How is consumer panel data collected during the test marketing phase of a new product introduction?

Before the development of computer-assisted design software,many firms handcrafted __________,wooden or clay models that served as rough physical representations of a new product.

Describe a product that is in the early majority stage of the new product diffusion curve.

During the __________ stage of the product life cycle,there are few but an increasing number of competitors.

Which step in the new product development process is the most critical to the survival of a firm,and why?

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

Which of the following is not one of the five groups in the diffusion of innovation curve?

As it pertains to the diffusion of innovation,if the __________ group is relatively small,the number of people who ultimately adopt the innovation likely will also be small.

Paul listens to music on his iPod and iPhone,but he still buys vinyl records at his local music store on occasion,although they are getting harder to find.Vinyl records are in the __________ stage of the product life cycle.

If a new product concept gets positive evaluations from potential customers during concept testing,the next step for a firm is

Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to generate ideas for names for a new beach resort.You are engaged in __________,a form of new idea generation.

Why is it important for marketers to understand the product life cycle?

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?

Golf ball manufacturers use "Iron Mike," a machine that swings a golf club at a constant velocity,to test the distance for new golf ball designs.When using Iron Mike,the manufacturers are engaged in

The failure rate for new products is high.

Companies that develop customized-business software often work closely with their users when installing their products.This close contact often creates new product ideas through

In new product development,what advantage do first movers have?

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

New-to-the-world products that create new markets can add tremendous value to firms.

How is consumer panel data collected during the test marketing phase of a new product introduction?

Before the development of computer-assisted design software,many firms handcrafted __________,wooden or clay models that served as rough physical representations of a new product.

Describe a product that is in the early majority stage of the new product diffusion curve.

During the __________ stage of the product life cycle,there are few but an increasing number of competitors.

Which step in the new product development process is the most critical to the survival of a firm,and why?

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