Question 1

_____ are the first 2.5 percent of all those who first adopt a new product.​

Accepted Answer

A) Innovators 
B) ​Early adopters 
C) ​Laggards 
D) Early majority

Question 2

Which of the following is a feature of the product life cycle (PLC)?

Accepted Answer

A) It allows firms to shorten the development process of a product and reduce costs. 
B) It helps marketers forecast future events and suggest appropriate strategy. 
C) It dictates the marketing strategy to be used for a product. 
D) It tells managers the length of a product's life cycle or its duration in any stage.

Question 3

Which of the following is a feature of a new-product strategy?

Accepted Answer

A) It traces all stages of a product's acceptance,from its introduction to its decline. 
B) It provides general guidelines for generating,screening,and evaluating new-product ideas. 
C) It increases the time spent by a product in the introduction stage of its life cycle. 
D) It gives greater importance to highly structured development process rather than simultaneous development.

Question 4

Which of the following is true of the development stage of a new-product development process?

Accepted Answer

A) It sets several tasks in motion,such as building inventories and advertising to potential customers. 
B) It evaluates a new-product idea usually before any prototype has been created. 
C) It estimates the demand,cost,sales,and profitability of a product for the first time. 
D) It examines the feasibility of manufacturing a product at an acceptable cost.

Question 5

Hakimo Corp. ,a multinational corporation that specializes in audio equipment,has developed a wireless speaker that sits unobtrusively on a desktop.The tiny,yet strong,twin speakers use Bluetooth to stream music directly from a PC or MP3 player.This small wireless speaker,which is radically different from anything currently on the market,can most likely be classified as a:

Accepted Answer

A) repositioned product. 
B) revision of an existing product. 
C) discontinuous innovation. 
D) lower-priced product.

Question 6

In the context of the product characteristics that can be used to predict and explain the rate of acceptance and diffusion,__________represents the degree of difficulty involved in understanding and using a new product.

Accepted Answer

The answer of In the context of the product characteristics...

Question 7

3D printing is a process which is sometimes used to create three dimensional prototypes of a product quickly and at a relatively low cost.

Accepted Answer

A) True 
 B)False

Question 8

Daily Farm is a manufacturer of consumer goods such as foods,beverages,cleaning agents,and personal care products.It is expected to introduce more than ten new products in the next two years.One of the products is a spicier variant of its tomato ketchup aimed at the baby boomer market.Which of the following categories of new products will the spicier ketchup represent?

Accepted Answer

A) Repositioned product 
B) Revision of existing product 
C) New product line 
D) Addition to existing product line

Question 9

Steve wanted to open a day care service facility for dogs.He estimated the costs involved in providing the services desired by dog owners.After extensive deliberation,Steve decided not to proceed with the plan as the cost of providing the services was too high compared to the rates dog owners would be willing to pay.Which of the following stages of the new-product development process has Steve used to arrive at this decision?

Accepted Answer

A) Idea screening 
B) Business analysis 
C) Idea generation 
D) Test marketing

Question 10

The most important factor in successful new-product introduction is a good match between the product and market needs.

Accepted Answer

A) True 
 B)False

Question 11

A difference between early majority and early adopters is that early majority are:

Accepted Answer

A) more likely to be opinion leaders. 
B) more eager to try new products and ideas,almost as an obsession. 
C) likely to collect more information and evaluate more brands. 
D) less likely to extend the adoption process.

Question 12

The process where all the involved areas-R&D,marketing,engineering,production,and even suppliers-work together rather than sequentially during a product's development is called__________.

Accepted Answer

The answer of The process where all the involved areas-R&D,marketing,engineering,production,and...

Question 13

Compatible products diffuse more slowly than incompatible products.

Accepted Answer

A) True 
 B)False

Question 14

An organized effort to generate many ideas from various sources is important for any firm that wishes to produce a continuing flow of new products.

Accepted Answer

A) True 
 B)False

Question 15

In the context of the product life cycle,a long-run drop in a product's sales signals the beginning of the _____.​

Accepted Answer

A) introductory stage 
B) ​growth stage 
C) ​maturity stage 
D) decline stage

Question 16

The purpose of test marketing is to:

Accepted Answer

A) eliminate ideas that are inconsistent with an organization's new-product strategy. 
B) shorten the development process of a product and reduce costs. 
C) assess how well various aspects of the marketing mix fit together. 
D) evaluate a new-product idea before any prototype is created.

Question 17

__________have the longest product life cycles.

Accepted Answer

The answer of __________have the longest product life cycles....

Exam 11: Developing and Managing Products

_____ are the first 2.5 percent of all those who first adopt a new product.

Which of the following is a feature of the product life cycle (PLC) ?

Which of the following is a feature of a new-product strategy?

Which of the following is true of the development stage of a new-product development process?

In the context of the product characteristics that can be used to predict and explain the rate of acceptance and diffusion,__________represents the degree of difficulty involved in understanding and using a new product.

3D printing is a process which is sometimes used to create three dimensional prototypes of a product quickly and at a relatively low cost.

The most important factor in successful new-product introduction is a good match between the product and market needs.

A difference between early majority and early adopters is that early majority are:

The process where all the involved areas-R&D,marketing,engineering,production,and even suppliers-work together rather than sequentially during a product's development is called__________.

Compatible products diffuse more slowly than incompatible products.

An organized effort to generate many ideas from various sources is important for any firm that wishes to produce a continuing flow of new products.

In the context of the product life cycle,a long-run drop in a product's sales signals the beginning of the _____.

The purpose of test marketing is to:

__________have the longest product life cycles.

Exam 11: Developing and Managing Products

_____ are the first 2.5 percent of all those who first adopt a new product.​

Which of the following is a feature of the product life cycle (PLC) ?

Which of the following is a feature of a new-product strategy?

Which of the following is true of the development stage of a new-product development process?

In the context of the product characteristics that can be used to predict and explain the rate of acceptance and diffusion,__________represents the degree of difficulty involved in understanding and using a new product.

3D printing is a process which is sometimes used to create three dimensional prototypes of a product quickly and at a relatively low cost.

The most important factor in successful new-product introduction is a good match between the product and market needs.

A difference between early majority and early adopters is that early majority are:

The process where all the involved areas-R&D,marketing,engineering,production,and even suppliers-work together rather than sequentially during a product's development is called__________.

Compatible products diffuse more slowly than incompatible products.

An organized effort to generate many ideas from various sources is important for any firm that wishes to produce a continuing flow of new products.

In the context of the product life cycle,a long-run drop in a product's sales signals the beginning of the _____.​

The purpose of test marketing is to:

__________have the longest product life cycles.

_____ are the first 2.5 percent of all those who first adopt a new product.

In the context of the product life cycle,a long-run drop in a product's sales signals the beginning of the _____.