Question 1

A product idea is a possible product the company might offer to the market.

Accepted Answer

A) True 
 B)False

Question 2

In ________,respondents see different hypothetical offers formed by combining varying levels of the attributes,then rank the various offers.

Accepted Answer

A) conjoint analysis 
B) marketing strategy 
C) gap research 
D) need assessment 
E) skunkworks 
A) conjoint analysis 
B) marketing strategy 
C) gap research 
D) need assessment 
E) skunkworks

Question 3

In an economy of change,continuous innovation is necessary.Most companies rarely innovate,some innovate occasionally,and a few innovate continuously.Comment on why a company should continuously develop new products.

Accepted Answer

Companies that fail to develop new produ

Question 4

A(n)________ is any good,service,or idea that is perceived as new,no matter how long its history.

Accepted Answer

A) product 
B) innovation 
C) new idea 
D) creative product 
E) none of the above 
A) product 
B) innovation 
C) new idea 
D) creative product 
E) none of the above

Question 5

An innovation is any good,service,or idea that is "new to the world."

Accepted Answer

A) True 
 B)False

Question 6

In consumer-goods market testing,the company seeks to estimate four variables.These four variables are: trial,first repeat,adoption,and ________.

Accepted Answer

A) money-back guarantee 
B) price 
C) purchase frequency 
D) usage 
E) preferences 
A) money-back guarantee 
B) price 
C) purchase frequency 
D) usage 
E) preferences

Question 7

When commercializing a new product,market-entry timing is critical.Your firm has the distinction of being the first to market with your new product.As the first entrant in the market,your company can enjoy ________.

Accepted Answer

A) market attractiveness 
B) first mover advantages 
C) parallel entry 
D) late entry 
E) brand awareness 
A) market attractiveness 
B) first mover advantages 
C) parallel entry 
D) late entry 
E) brand awareness

Question 8

You have been asked to participate in an idea-generating session at work.You and your group have been asked to list all the normal assumptions about desk chairs and then asked to reverse them.What creative technique area you using?

Accepted Answer

This isrev

Question 9

The consumer-adoption process focuses on the mental process through which an individual passes from first hearing about an innovation to final adoption or use of the product/service.Adopters of new products have been observed to move through five distinct stages.List and define these stages.

Accepted Answer

The stages are: (1)awareness,where the c

Question 10

A company can add new products through acquisition or development.The acquisition route can take three forms.The company can buy other companies;it can acquire patents from other companies;or it can buy a ________ or _________ from another company.

Accepted Answer

A) license;franchise 
B) license;receive permission 
C) franchise;co-brand 
D) franchise;acquire rights 
E) none of the above 
A) license;franchise 
B) license;receive permission 
C) franchise;co-brand 
D) franchise;acquire rights 
E) none of the above

Question 11

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

Question 12

For a frequently purchased new product,the seller estimates repeat sales as well as first-time sales.A high rate of repeat purchasing means customers are ________.

Accepted Answer

A) dissatisfied with the product 
B) brand switchers 
C) satisfied with the product 
D) brand evangelists 
E) indifferent to the product 
A) dissatisfied with the product 
B) brand switchers 
C) satisfied with the product 
D) brand evangelists 
E) indifferent to the product

Question 13

A ________ occurs when the company dismisses a good idea.

Accepted Answer

A) product failure 
B) brand failure 
C) dual error 
D) DROP-error 
E) GO-error 
A) product failure 
B) brand failure 
C) dual error 
D) DROP-error 
E) GO-error

Question 14

Most new-product activity is devoted to ________.

Accepted Answer

A) repositioning existing products 
B) developing new-to-the-world products 
C) backward innovation 
D) improving existing products 
E) none of the above 
A) repositioning existing products 
B) developing new-to-the-world products 
C) backward innovation 
D) improving existing products 
E) none of the above

Question 15

In sales-wave research,consumers who initially try the product at no cost are reoffered the product,or a competitor's product,at slightly reduced prices.

Accepted Answer

A) True 
 B)False

Question 16

Differentiate between a product idea and a product concept.

Accepted Answer

A product idea is a possible p

Question 17

The business attractiveness of a proposal is dependent on ________.

Accepted Answer

A) sales projections 
B) cost projections 
C) profit projections 
D) all of the above 
E) none of the above 
A) sales projections 
B) cost projections 
C) profit projections 
D) all of the above 
E) none of the above

Question 18

Advantages of sales-wave research include an indication of ________.

Accepted Answer

A) trial rates the product would achieve with different sales promotion incentives 
B) the brand's power to gain distribution and favorable shelf position 
C) the likely success of network effects on the purchase of the product 
D) levels of satisfaction for those who try the product 
E) all of the above 
A) trial rates the product would achieve with different sales promotion incentives 
B) the brand's power to gain distribution and favorable shelf position 
C) the likely success of network effects on the purchase of the product 
D) levels of satisfaction for those who try the product 
E) all of the above

Question 19

Your firm has chosen a few representative cities,and the sales force tries to sell the trade on carrying the product and giving it good shelf exposure.The company puts on a full advertising and promotion campaign.Total costs exceed $1 million dollars.Your firm has decided to conduct a ________.

Accepted Answer

A) simulated test market 
B) sales-wave research 
C) controlled test market 
D) test market 
E) commercialization test 
A) simulated test market 
B) sales-wave research 
C) controlled test market 
D) test market 
E) commercialization test

Question 20

Industrial manufacturers come close to using full test marketing when they give unlimited supply of the new product to the sales force to sell in a limited number of areas without promotional support.

Accepted Answer

A) True 
 B)False

Exam 20: Introducing New Market Offerings

A product idea is a possible product the company might offer to the market.

In ________,respondents see different hypothetical offers formed by combining varying levels of the attributes,then rank the various offers.

In an economy of change,continuous innovation is necessary.Most companies rarely innovate,some innovate occasionally,and a few innovate continuously.Comment on why a company should continuously develop new products.

A(n)________ is any good,service,or idea that is perceived as new,no matter how long its history.

An innovation is any good,service,or idea that is "new to the world."

In consumer-goods market testing,the company seeks to estimate four variables.These four variables are: trial,first repeat,adoption,and ________.

When commercializing a new product,market-entry timing is critical.Your firm has the distinction of being the first to market with your new product.As the first entrant in the market,your company can enjoy ________.

You have been asked to participate in an idea-generating session at work.You and your group have been asked to list all the normal assumptions about desk chairs and then asked to reverse them.What creative technique area you using?

The consumer-adoption process focuses on the mental process through which an individual passes from first hearing about an innovation to final adoption or use of the product/service.Adopters of new products have been observed to move through five distinct stages.List and define these stages.

A company can add new products through acquisition or development.The acquisition route can take three forms.The company can buy other companies;it can acquire patents from other companies;or it can buy a ________ or _________ from another company.

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

For a frequently purchased new product,the seller estimates repeat sales as well as first-time sales.A high rate of repeat purchasing means customers are ________.

A ________ occurs when the company dismisses a good idea.

Most new-product activity is devoted to ________.

In sales-wave research,consumers who initially try the product at no cost are reoffered the product,or a competitor's product,at slightly reduced prices.

Differentiate between a product idea and a product concept.

The business attractiveness of a proposal is dependent on ________.

Advantages of sales-wave research include an indication of ________.

Your firm has chosen a few representative cities,and the sales force tries to sell the trade on carrying the product and giving it good shelf exposure.The company puts on a full advertising and promotion campaign.Total costs exceed $1 million dollars.Your firm has decided to conduct a ________.

Industrial manufacturers come close to using full test marketing when they give unlimited supply of the new product to the sales force to sell in a limited number of areas without promotional support.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing With Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Tapping Into Global Markets

Managing a Holistic Marketing Organization

Filters

A company can add new products through acquisition or development.The acquisition route can take three forms.The company can buy other companies;it can acquire patents from other companies;or it can buy a or _ from another company.