Question 1

________ process recognizes the value of returning to an earlier stage to make improvements before moving forward.

Accepted Answer

A) Spiral development 
B) Reactive development 
C) Market testing 
D) Proactive development 
E) Concept testing 
A) Spiral development 
B) Reactive development 
C) Market testing 
D) Proactive development 
E) Concept testing

Question 2

What is concept testing? What is its importance? Explain two modern techniques used for concept testing.

Accepted Answer

Concept testing means presenting the pro

Question 3

How do companies organize new product development?

Accepted Answer

Companies handle the organizational aspe

Question 4

What is the consumer-adoption process? What are the various steps in the process?

Accepted Answer

The consumer-adoption process is the men

Question 5

Most new-product activities are devoted to ________.

Accepted Answer

A) changing the target markets 
B) developing new-to-the-world products 
C) introducing backward integration 
D) improving existing products 
E) changing the existing market dynamics 
A) changing the target markets 
B) developing new-to-the-world products 
C) introducing backward integration 
D) improving existing products 
E) changing the existing market dynamics

Question 6

________ is a customer test that involves placing the product within the firm to see how it performs in different applications.

Accepted Answer

A) Beta testing 
B) Research testing 
C) Sales-wave testing 
D) Alpha testing 
E) Simulated testing 
A) Beta testing 
B) Research testing 
C) Sales-wave testing 
D) Alpha testing 
E) Simulated testing

Question 7

A large FMCG company decides to test market Kora,a new brand of face cleanser,to be launched soon.The company initially distributes a few free samples to some prospective consumers.Later it offers the product to the customers at a discounted price and observes that not only more than seventy percent of the customers are purchasing it but the same number are also satisfied using it.The company keeps using this process 3-4 times to obtain a correct count of the number of people purchasing the product repeatedly.Which of the following testing methods is being used here?

Accepted Answer

A) simulated testing 
B) controlled testing 
C) full test marketing 
D) parallel testing 
E) sales-wave research 
A) simulated testing 
B) controlled testing 
C) full test marketing 
D) parallel testing 
E) sales-wave research

Question 8

High-tech firms that function in a market with high technological uncertainty,high market uncertainty,and high investment costs are not likely to seek radical innovation.

Accepted Answer

A) True 
 B)False

Question 9

New-to-the-world products are ________.

Accepted Answer

A) low-cost products designed to obtain an edge in highly competitive markets 
B) new product enhancements that supplement established products 
C) new versions of an existing product that has been less successful 
D) new products that create an entirely new market 
E) existing products that are targeted to new geographical markets 
A) low-cost products designed to obtain an edge in highly competitive markets 
B) new product enhancements that supplement established products 
C) new versions of an existing product that has been less successful 
D) new products that create an entirely new market 
E) existing products that are targeted to new geographical markets

Question 10

Explain the concepts of sales-wave research and simulated test marketing.

Accepted Answer

In sales-wave research,consumers who ini

Question 11

Venture teams are cross-functional groups charged with developing a specific product or business.

Accepted Answer

A) True 
 B)False

Question 12

Troma Pte Ltd,is a famous manufacturer of cookware,that follows a traditional distributor-retailer system to distribute its products.The company abstains from the use of automated supply chain management (SCM)system mainly due to the fear of unknown.However,rapidly escalating operational costs and inefficiencies have made it absolutely necessary for the company to implement an SCM system.The company goes for a big-bang installation of SCM system to become more competitive and cost effective.Identify the adopter group to which Troma belongs.

Accepted Answer

A) innovator 
B) early adopter 
C) early majority 
D) laggard 
E) late majority 
A) innovator 
B) early adopter 
C) early majority 
D) laggard 
E) late majority

Question 13

During ________,the company's technical people observe how customers use the product,a practice that often exposes unanticipated problems of safety and servicing and alerts the company to customer training and servicing requirements.

Accepted Answer

A) beta testing 
B) research testing 
C) sales-wave testing 
D) alpha testing 
E) simulated testing 
A) beta testing 
B) research testing 
C) sales-wave testing 
D) alpha testing 
E) simulated testing

Question 14

The ________ technique for stimulating creativity lists all the characteristics of an object and then modifies each to try to arrive at a new idea.

Accepted Answer

A) reverse assumption analysis 
B) lateral marketing 
C) attribute listing 
D) forced relationship 
E) morphological analysis 
A) reverse assumption analysis 
B) lateral marketing 
C) attribute listing 
D) forced relationship 
E) morphological analysis

Question 15

At the interest stage of consumer-adoption process,the consumer becomes aware of the innovation but lacks information about it.

Accepted Answer

A) True 
 B)False

Question 16

________ is the effect one person has on another's attitude or purchase probability.

Accepted Answer

A) Sharing power 
B) Collaborative power 
C) Market influence 
D) Brand power 
E) Personal influence 
A) Sharing power 
B) Collaborative power 
C) Market influence 
D) Brand power 
E) Personal influence

Question 17

Companies should use normal investment criteria to budget for new-product developments.

Accepted Answer

A) True 
 B)False

Question 18

Five characteristics influence the rate of adoption of an innovation.One of these is ________.

Accepted Answer

A) marketing expertise 
B) relative advantage 
C) packaging attractiveness 
D) government regulations 
E) place of value exchange 
A) marketing expertise 
B) relative advantage 
C) packaging attractiveness 
D) government regulations 
E) place of value exchange

Question 19

________ teams are cross-functional groups charged with developing a specific product or business.

Accepted Answer

A) Virtual 
B) Venture 
C) Fundamental 
D) Elemental 
E) Transitory 
A) Virtual 
B) Venture 
C) Fundamental 
D) Elemental 
E) Transitory

Question 20

A ________ error occurs when the company dismisses a good idea.

Accepted Answer

A) probability 
B) performance 
C) double counting 
D) DROP 
E) GO 
A) probability 
B) performance 
C) double counting 
D) DROP 
E) GO

Exam 21: Introducing New Market Offerings

________ process recognizes the value of returning to an earlier stage to make improvements before moving forward.

What is concept testing? What is its importance? Explain two modern techniques used for concept testing.

How do companies organize new product development?

What is the consumer-adoption process? What are the various steps in the process?

Most new-product activities are devoted to ________.

________ is a customer test that involves placing the product within the firm to see how it performs in different applications.

High-tech firms that function in a market with high technological uncertainty,high market uncertainty,and high investment costs are not likely to seek radical innovation.

New-to-the-world products are ________.

Explain the concepts of sales-wave research and simulated test marketing.

Venture teams are cross-functional groups charged with developing a specific product or business.

During ________,the company's technical people observe how customers use the product,a practice that often exposes unanticipated problems of safety and servicing and alerts the company to customer training and servicing requirements.

The ________ technique for stimulating creativity lists all the characteristics of an object and then modifies each to try to arrive at a new idea.

At the interest stage of consumer-adoption process,the consumer becomes aware of the innovation but lacks information about it.

________ is the effect one person has on another's attitude or purchase probability.

Companies should use normal investment criteria to budget for new-product developments.

Five characteristics influence the rate of adoption of an innovation.One of these is ________.

________ teams are cross-functional groups charged with developing a specific product or business.

A ________ error occurs when the company dismisses a good idea.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Gathering Information and Forecasting Demand

Conducting Marketing Research

Creating Customer Value,satisfaction,and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Marketing Channels and Value Networks

Managing Retailing,wholesaling,and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, sales Promotions, events, and Public Relations

Managing Digital Communications: Online, social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Tapping Into Global Markets

Managing a Holistic Marketing Organization

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