Question 1

Explain the concept of outsourcing product development,and give an example of when this would be a good idea.

Accepted Answer

Students' answers will vary,bu

Question 2

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 40 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 3

All of the following groups are included in the diffusion of innovation curve except

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 4

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 5

All of the following are benefits of new product development to a firm

Accepted Answer

A)  reducing the costs of production. 
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)  keeping up in a market with short product life cycles where sales come mostly from new products. 
A)  reducing the costs of production. 
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)  keeping up in a market with short product life cycles where sales come mostly from new products.

Question 6

As a promotion technique,samples are often used for new products when __________ will influence the diffusion of the product.

Accepted Answer

A)  relative advantage 
B)  compatibility 
C)  observability 
D)  complexity 
E)  trialability 
A)  relative advantage 
B)  compatibility 
C)  observability 
D)  complexity 
E)  trialability

Question 7

All of the following are characteristics of products in the maturity stage of the product life cycle except

Accepted Answer

A)  laggards are a major focus of marketing efforts. 
B)  price competition is intense. 
C)  marketing costs increase as firms defend their market share. 
D)  the market may become saturated because nearly all potential customers have adopted the product. 
E)  to increase the customer base, firms consider entry into new markets and new market segments. 
A)  laggards are a major focus of marketing efforts. 
B)  price competition is intense. 
C)  marketing costs increase as firms defend their market share. 
D)  the market may become saturated because nearly all potential customers have adopted the product. 
E)  to increase the customer base, firms consider entry into new markets and new market segments.

Question 8

__________ involves taking apart a product,analyzing it,and creating an improved product that does not infringe on the competitor's patents.

Accepted Answer

A)  Reverse innovation 
B)  Reverse engineering 
C)  Selective dissection 
D)  Redistribution 
E)  Creative destruction 
A)  Reverse innovation 
B)  Reverse engineering 
C)  Selective dissection 
D)  Redistribution 
E)  Creative destruction

Question 9

Zappos.com,an online shoe store,offers an easy,no-hassle return procedure.This relates to the _______ of its products.

Accepted Answer

A)  relative advantage 
B)  compatibility 
C)  observability 
D)  complexity 
E)  trialability 
A)  relative advantage 
B)  compatibility 
C)  observability 
D)  complexity 
E)  trialability

Question 10

The failure rate for new products is high.

Accepted Answer

A) True 
 B)False

Question 11

When a global firm turns to its subsidiaries in less developed markets for new product ideas,such as when Coca-Cola developed Minute Maid Pulpy out of its Shanghai research center and then moved the product into other markets around the world,the firm is engaged in

Accepted Answer

A)  a consortia. 
B)  reverse innovation. 
C)  competitive engineering. 
D)  pioneering. 
E)  beta testing. 
A)  a consortia. 
B)  reverse innovation. 
C)  competitive engineering. 
D)  pioneering. 
E)  beta testing.

Question 12

In the United States,most consumer packaged goods found in grocery and discount stores are already 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 13

When Toyota introduced hybrid cars,there were waiting lists to buy them.Then Honda and a few other manufacturers entered the market,shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle.

Accepted Answer

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

Question 14

Inkjet printers were a big improvement over the dot-matrix printers they replaced.Inkjet printers gained rapid acceptance in the marketplace primarily because of their

Accepted Answer

A)  relative advantage. 
B)  compatibility. 
C)  observability. 
D)  complexity. 
E)  trialability. 
A)  relative advantage. 
B)  compatibility. 
C)  observability. 
D)  complexity. 
E)  trialability.

Question 15

All of the following are reasons for the high failure rate of new products except

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.

Question 16

All of the following were considered a new-to-the-world product or service when introduced except

Accepted Answer

A)  Wi-Fi. 
B)  the Mercedes mini sport utility vehicle, a smaller version of its larger SUVs. 
C)  Microsoft's Windows operating system. 
D)  the MP3 player. 
E)  flat-screen TVs. 
A)  Wi-Fi. 
B)  the Mercedes mini sport utility vehicle, a smaller version of its larger SUVs. 
C)  Microsoft's Windows operating system. 
D)  the MP3 player. 
E)  flat-screen TVs.

Question 17

In one test before product launch,customers try a sample product and are then surveyed to understand whether or not they would buy/use the product again.This is known as

Accepted Answer

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

Question 18

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

Accepted Answer

Test marketing allows firms to

Question 19

Before Segway manufactured its two-wheeled people movers,it built a prototype and had staff engineers test it for performance and stability.At this stage,Segway was involved in

Accepted Answer

A)  alpha testing. 
B)  product launch. 
C)  test marketing. 
D)  beta testing. 
E)  concept testing. 
A)  alpha testing. 
B)  product launch. 
C)  test marketing. 
D)  beta testing. 
E)  concept testing.

Question 20

Beverly is assessing the results of a new product launch of a series of e-books for her bookstore.When evaluating the results,Beverly will likely consider all of the following except

Accepted Answer

A)  why it took her so long to consider the new product line. 
B)  if the e-books are generating the expected level of profit. 
C)  if the e-books are generating the expected level of sales. 
D)  if her customers are interested in the new books. 
E)  if the e-books function as expected. 
A)  why it took her so long to consider the new product line. 
B)  if the e-books are generating the expected level of profit. 
C)  if the e-books are generating the expected level of sales. 
D)  if her customers are interested in the new books. 
E)  if the e-books function as expected.

Explain the concept of outsourcing product development,and give an example of when this would be a good idea.

All of the following groups are included in the diffusion of innovation curve except

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.

All of the following are benefits of new product development to a firm

As a promotion technique,samples are often used for new products when __________ will influence the diffusion of the product.

All of the following are characteristics of products in the maturity stage of the product life cycle except

__________ involves taking apart a product,analyzing it,and creating an improved product that does not infringe on the competitor's patents.

Zappos.com,an online shoe store,offers an easy,no-hassle return procedure.This relates to the _______ of its products.

The failure rate for new products is high.

When a global firm turns to its subsidiaries in less developed markets for new product ideas,such as when Coca-Cola developed Minute Maid Pulpy out of its Shanghai research center and then moved the product into other markets around the world,the firm is engaged in

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

When Toyota introduced hybrid cars,there were waiting lists to buy them.Then Honda and a few other manufacturers entered the market,shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle.

Inkjet printers were a big improvement over the dot-matrix printers they replaced.Inkjet printers gained rapid acceptance in the marketplace primarily because of their

All of the following are reasons for the high failure rate of new products except

All of the following were considered a new-to-the-world product or service when introduced except

In one test before product launch,customers try a sample product and are then surveyed to understand whether or not they would buy/use the product again.This is known as

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

Before Segway manufactured its two-wheeled people movers,it built a prototype and had staff engineers test it for performance and stability.At this stage,Segway was involved in

Beverly is assessing the results of a new product launch of a series of e-books for her bookstore.When evaluating the results,Beverly will likely consider all of the following except

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Conscious Marketing,corporate Social Responsibility,and 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

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

Explain the concept of outsourcing product development,and give an example of when this would be a good idea.

All of the following groups are included in the diffusion of innovation curve except

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.

All of the following are benefits of new product development to a firm

As a promotion technique,samples are often used for new products when __________ will influence the diffusion of the product.

All of the following are characteristics of products in the maturity stage of the product life cycle except

__________ involves taking apart a product,analyzing it,and creating an improved product that does not infringe on the competitor's patents.

Zappos.com,an online shoe store,offers an easy,no-hassle return procedure.This relates to the _______ of its products.

The failure rate for new products is high.

When a global firm turns to its subsidiaries in less developed markets for new product ideas,such as when Coca-Cola developed Minute Maid Pulpy out of its Shanghai research center and then moved the product into other markets around the world,the firm is engaged in

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

When Toyota introduced hybrid cars,there were waiting lists to buy them.Then Honda and a few other manufacturers entered the market,shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle.

Inkjet printers were a big improvement over the dot-matrix printers they replaced.Inkjet printers gained rapid acceptance in the marketplace primarily because of their

All of the following are reasons for the high failure rate of new products except

All of the following were considered a new-to-the-world product or service when introduced except

In one test before product launch,customers try a sample product and are then surveyed to understand whether or not they would buy/use the product again.This is known as

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

Before Segway manufactured its two-wheeled people movers,it built a prototype and had staff engineers test it for performance and stability.At this stage,Segway was involved in

Beverly is assessing the results of a new product launch of a series of e-books for her bookstore.When evaluating the results,Beverly will likely consider all of the following except

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Conscious Marketing,corporate Social Responsibility,and 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

Supply Chain and Channel Management

Retailing and Omnichannel Marketing

Integrated Marketing Communications

Advertising,public Relations,and Sales Promotions

Personal Selling and Sales Management

Filters