Exam 12: Developing New Products

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?

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.

Fashion trends tend to experience short product life cycles.

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

Respond to the statement "Create or die" from a new product innovation perspective.

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

Now that the consumer demand is building for Miranda's new organic shampoo,she and her team face a new set of decisions.Which of the following is not one of the decision items on the agenda for the team discussion of place in the marketing mix for a new product launch?

Which of the following was not a new-to-the-world product or service when it was introduced?

Pioneer or breakthrough products

Barbara is using a test model of her firm's new inline skates to see if they work according to the design specifications.Barbara is involved in

To determine if a new product is commercially viable,a firm can conduct premarket testing.

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

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

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

The growth phase of the product life cycle is always dynamic.Which of the following does not occur in this phase?

Laptop computers,personal digital assistants,and cellular phones were all readily accepted and diffused in U.S.markets where business and personal lifestyles tend to be faster-paced,compared to many other areas in the world.These products offered __________ with consumers' needs and priorities.

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

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

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