Question 1

What is the difference between an innovator and an early adopter?

Accepted Answer

An innovator is the first to try new pro

Question 2

The most challenging part of applying the product life cycle concept is that managers do not know exactly what shape each product's life cycle will take.

Accepted Answer

A) True 
 B)False

Question 3

Early personal computer users remember the cumbersome,user-unfriendly DOS system.When Apple introduced System 1 and Microsoft introduced Windows,both of which were much easier to use,these new products diffused rapidly because of their

Accepted Answer

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

Question 4

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 5

Lorraine belongs to a national consumer panel created by a market research company.She regularly receives samples of new products from a variety of firms and fills out questionnaires about the products.The national consumer panel Lorraine is part of is engaged in

Accepted Answer

A)  premarket testing. 
B)  product launch. 
C)  test marketing. 
D)  product development. 
E)  concept testing. 
A)  premarket testing. 
B)  product launch. 
C)  test marketing. 
D)  product development. 
E)  concept testing.

Question 6

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 most likely

Accepted Answer

A)  spread positive word of mouth to other physicians. 
B)  buy one for each office in their practices. 
C)  reposition his products. 
D)  create demand among the late majority. 
E)  not need any service or support when using the product. 
A)  spread positive word of mouth to other physicians. 
B)  buy one for each office in their practices. 
C)  reposition his products. 
D)  create demand among the late majority. 
E)  not need any service or support when using the product.

Question 7

The __________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them.

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 8

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 9

A product in the __________ stage of the product life cycle has a high number of competitors and competitive products.

Accepted Answer

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

Question 10

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

Accepted Answer

They are the first firm in a p

Question 11

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 12

A year after expanding his celebrity golf photography business to include golf course photography,Chet decided it was time to evaluate results.What three interrelated factors will Chet consider when evaluating the success of his new product?

Accepted Answer

First,he will consider technical require

Question 13

When they add products,services,and processes to their offerings,firms can create and deliver value more effectively by satisfying the changing needs of their current and new customers or by keeping customers from getting bored with the current product or service offering.How did Steve Jobs,the Apple company's founder and visionary leader,change the phone,camera,communication,and technology markets?

Accepted Answer

When Apple first introduced its handheld

Question 14

Which of the following is true of profits in the maturity stage of the product life cycle?

Accepted Answer

A)  They are negative. 
B)  They are low. 
C)  They peak or are declining. 
D)  They are rapidly rising. 
E)  They are slowing rising. 
A)  They are negative. 
B)  They are low. 
C)  They peak or are declining. 
D)  They are rapidly rising. 
E)  They are slowing rising.

Question 15

One reason auto companies spend millions on racing cars is that they offer the opportunity to test new designs and technology under extreme conditions.Using the cars in a real-use setting provides an opportunity for _______ the product.

Accepted Answer

A)  pretesting 
B)  beta testing 
C)  test marketing 
D)  alpha testing 
E)  concept testing 
A)  pretesting 
B)  beta testing 
C)  test marketing 
D)  alpha testing 
E)  concept testing

Question 16

All of the following are stages in the product life cycle except

Accepted Answer

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

Question 17

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, 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, late majority, laggards 
D)  early majority, late majority, early adopters, innovators, laggards 
E)  innovators, late majority, early adopters, early majority, laggards

Question 18

When McDonald's comes up with a new drink or sandwich for its restaurants,it often markets it in a dozen or so of its outlets.When the company does this,it is engaged in

Accepted Answer

A)  pretesting. 
B)  product launch. 
C)  test marketing. 
D)  product development. 
E)  concept testing. 
A)  pretesting. 
B)  product launch. 
C)  test marketing. 
D)  product development. 
E)  concept testing.

Question 19

Pioneer or breakthrough products

Accepted Answer

A)  will likely result in late maturity buying. 
B)  can change consumer preferences. 
C)  incorporate reverse engineering outputs. 
D)  require the use of concept testing services. 
E)  must be geographically centered. 
A)  will likely result in late maturity buying. 
B)  can change consumer preferences. 
C)  incorporate reverse engineering outputs. 
D)  require the use of concept testing services. 
E)  must be geographically centered.

Question 20

The Apple iPod changed the way people listen to music but it also created an entirely new industry devoted to accessories such as cases,ear buds,docking stations,and speakers.The Apple iPod is considered a

Accepted Answer

A)  pioneer product. 
B)  introductory product. 
C)  mature product. 
D)  diffused product. 
E)  early adopted product. 
A)  pioneer product. 
B)  introductory product. 
C)  mature product. 
D)  diffused product. 
E)  early adopted product.

What is the difference between an innovator and an early adopter?

The most challenging part of applying the product life cycle concept is that managers do not know exactly what shape each product's life cycle will take.

Early personal computer users remember the cumbersome,user-unfriendly DOS system.When Apple introduced System 1 and Microsoft introduced Windows,both of which were much easier to use,these new products diffused rapidly because of their

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

Lorraine belongs to a national consumer panel created by a market research company.She regularly receives samples of new products from a variety of firms and fills out questionnaires about the products.The national consumer panel Lorraine is part of is engaged in

The __________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them.

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

A product in the __________ stage of the product life cycle has a high number of competitors and competitive products.

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

A year after expanding his celebrity golf photography business to include golf course photography,Chet decided it was time to evaluate results.What three interrelated factors will Chet consider when evaluating the success of his new product?

Which of the following is true of profits in the maturity stage of the product life cycle?

One reason auto companies spend millions on racing cars is that they offer the opportunity to test new designs and technology under extreme conditions.Using the cars in a real-use setting provides an opportunity for _______ the product.

All of the following are stages in the product life cycle except

Which of the following is the correct sequence of new product adopters in the diffusion of innovation curve?

When McDonald's comes up with a new drink or sandwich for its restaurants,it often markets it in a dozen or so of its outlets.When the company does this,it is engaged in

Pioneer or breakthrough products

The Apple iPod changed the way people listen to music but it also created an entirely new industry devoted to accessories such as cases,ear buds,docking stations,and speakers.The Apple iPod is considered a

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

What is the difference between an innovator and an early adopter?

The most challenging part of applying the product life cycle concept is that managers do not know exactly what shape each product's life cycle will take.

Early personal computer users remember the cumbersome,user-unfriendly DOS system.When Apple introduced System 1 and Microsoft introduced Windows,both of which were much easier to use,these new products diffused rapidly because of their

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

Lorraine belongs to a national consumer panel created by a market research company.She regularly receives samples of new products from a variety of firms and fills out questionnaires about the products.The national consumer panel Lorraine is part of is engaged in

The __________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them.

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

A product in the __________ stage of the product life cycle has a high number of competitors and competitive products.

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

A year after expanding his celebrity golf photography business to include golf course photography,Chet decided it was time to evaluate results.What three interrelated factors will Chet consider when evaluating the success of his new product?

Which of the following is true of profits in the maturity stage of the product life cycle?

One reason auto companies spend millions on racing cars is that they offer the opportunity to test new designs and technology under extreme conditions.Using the cars in a real-use setting provides an opportunity for _______ the product.

All of the following are stages in the product life cycle except

Which of the following is the correct sequence of new product adopters in the diffusion of innovation curve?

When McDonald's comes up with a new drink or sandwich for its restaurants,it often markets it in a dozen or so of its outlets.When the company does this,it is engaged in

Pioneer or breakthrough products

The Apple iPod changed the way people listen to music but it also created an entirely new industry devoted to accessories such as cases,ear buds,docking stations,and speakers.The Apple iPod is considered a

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