Question 1

The ________ for a guest paying for a night's stay at a hotel is rest and sleep.

Accepted Answer

A)  generic product 
B)  core product 
C)  value-deliverable product 
D)  augmented product 
E)  actual product

Question 2

The first step in the product adoption process is to create interest.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following statements about the adopter categories is true?

Accepted Answer

A)  More than 50 percent of the population is classified as late majority adopters. 
B)  Early adopters are risk averse. 
C)  Early majority adopters are typically middle class and like to buy established products. 
D)  Innovators are a much larger group than laggards. 
E)  Late majority adopters are typically unconcerned about social acceptance.

Question 4

The last stage in the new product development process is ________.

Accepted Answer

A)  commercialization 
B)  business analysis 
C)  generation 
D)  concept testing 
E)  product concept development

Question 5

A(n) ________ is typically a nondurable good or service that consumers purchase frequently with a minimum of comparison and effort.

Accepted Answer

A)  specialty product 
B)  MRO product 
C)  shopping product 
D)  convenience product 
E)  unsought product

Question 6

In terms of the five characteristics of innovations that affect the rate of adoption, the digital camera would most clearly have a higher degree of ________ than flavored bottled water.

Accepted Answer

A)  compatibility 
B)  complexity 
C)  tangibility 
D)  comparability 
E)  trialability

Question 7

From a marketing standpoint, a new product is anything that customers perceive as new and different.

Accepted Answer

A) True 
 B)False

Question 8

One of the reasons given for the success of reality television shows is that the shows appeal to a cultural bias that real-life drama is preferable to fiction. Americans desire adventure and escapism that offer them the opportunity for participation but do not require it. In terms of the five characteristics of innovations that affect the rate of adoption, reality television shows have a high degree of ________.

Accepted Answer

A)  innovation 
B)  complexity 
C)  tangibility 
D)  divisibility 
E)  compatibility

Question 9

Explain durable and nondurable goods. Give an example of each.

Accepted Answer

The answer of Explain durable and nondurable goods. Give an...

Question 10

An Internet company helps other online businesses with handling distribution bottlenecks, including managing tariffs and exchange rates for international shipping. This company provides a(n) ________.

Accepted Answer

A)  component service 
B)  processed product 
C)  MRO product 
D)  specialized service 
E)  MRO service

Question 11

Consumers usually know a good deal about ________ and are loyal to specific brands.

Accepted Answer

A)  specialty products 
B)  unsought products 
C)  impulse products 
D)  MRO products 
E)  emergency products

Question 12

One of the advantages of test marketing is the ________.

Accepted Answer

A)  low cost 
B)  ability to keep information from falling into competitors' hands 
C)  opportunity to survey prospective customers 
D)  ability to evaluate a product and its marketing program before commercialization 
E)  opportunity to sell existing products to a core customer base

Exam 8: Product I: Innovation and New Product Development