Question 1

A(n)________ is an elaborated version of the idea expressed in consumer terms.

Accepted Answer

A) test brand 
B) alpha product 
C) beta version 
D) product idea 
E) product concept 
A) test brand 
B) alpha product 
C) beta version 
D) product idea 
E) product concept

Question 2

A ________ occurs when the company permits a poor idea to move into development and commercialization.

Accepted Answer

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

Question 3

Although developing new products can help a company get ahead in the marketplace,if a company currently markets a successful product,there is no need to spend money or staff time on developing new products.

Accepted Answer

A) True 
 B)False

Question 4

Truly innovative firms must strongly condemn and punish failure within their product development organizations.

Accepted Answer

A) True 
 B)False

Question 5

Concept testing of prototypes is particularly easy with radically different,new-to-the-world products.

Accepted Answer

A) True 
 B)False

Question 6

Your personal physician prides himself on being on top of the literature regarding new medicines for his patients.In fact,your doctor prides himself on being the first to prescribe new medicines to help his patients.In marketing terms,your doctor can be said to be a(n)________.

Accepted Answer

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

Question 7

A(n)________ loses money,but its sales cover all its variable costs and some of the fixed costs.

Accepted Answer

A) strategic product failure 
B) market product failure 
C) partial product failure 
D) relative product failure 
E) transfer product failure 
A) strategic product failure 
B) market product failure 
C) partial product failure 
D) relative product failure 
E) transfer product failure

Question 8

When we talk about "early adopters" for a new product,we are concerned with those opinion leaders who carefully search for new technologies that might give them a dramatic competitive advantage.

Accepted Answer

A) True 
 B)False

Question 9

Truly innovative products incur the greatest cost and risk to the firm because they are both new to the company and new to the marketplace.

Accepted Answer

A) True 
 B)False

Question 10

When the USB memory stick was introduced,it destroyed demand for floppy disks due to its vastly superior storage capacity,cheaper price per unit of storage capacity,and more convenient size,shape,and usage.This was an example of ________.

Accepted Answer

A) incremental innovation 
B) disruptive technology 
C) fragmented markets 
D) customer-driven engineering 
E) perceptual mapping 
A) incremental innovation 
B) disruptive technology 
C) fragmented markets 
D) customer-driven engineering 
E) perceptual mapping

Question 11

Newer companies create ________ that are cheaper and more likely to alter the competitive space.Established companies can be slow to react or invest in these technologies because they threaten their investment.

Accepted Answer

A) new products 
B) newer markets 
C) newer channels of distribution 
D) disruptive technologies 
E) none of the above 
A) new products 
B) newer markets 
C) newer channels of distribution 
D) disruptive technologies 
E) none of the above

Question 12

Several factors hinder new-product development today,including ________-when a new product is successful,rivals are quick to copy it.

Accepted Answer

A) high cost of development 
B) fragmented markets 
C) a shortage of important ideas in certain areas 
D) social and governmental constraints 
E) shorter product life cycles 
A) high cost of development 
B) fragmented markets 
C) a shortage of important ideas in certain areas 
D) social and governmental constraints 
E) shorter product life cycles

Question 13

SuperToy Co.just came out with a new remote controlled motorcycle,with a special battery pack that is purchased separately.When assessing the cash flows associated with the new toy,income from the purchase of the battery pack is considered ________.

Accepted Answer

A) dragalong income 
B) incremental income 
C) disruptive income 
D) intrinsic income 
E) cannibalized income 
A) dragalong income 
B) incremental income 
C) disruptive income 
D) intrinsic income 
E) cannibalized income

Question 14

The traditional system of new-product cocreation with consumers is giving way to a more company-centric approach to product innovation.

Accepted Answer

A) True 
 B)False

Question 15

Many top companies use the ________ to manage the innovation process.They divide the process into several phases,and at the end of each phase is a checkpoint where senior managers can make go,kill,hold,or recycle decisions.

Accepted Answer

A) skunkworks system 
B) stage-gate system 
C) spiral development process 
D) new-product department technique 
E) reverse assumption analysis technique 
A) skunkworks system 
B) stage-gate system 
C) spiral development process 
D) new-product department technique 
E) reverse assumption analysis technique

Question 16

New-product ideas can come from interacting with various groups and from using _________.

Accepted Answer

A) marketing resources 
B) financial resources 
C) groups 
D) test subjects 
E) creativity-generating techniques 
A) marketing resources 
B) financial resources 
C) groups 
D) test subjects 
E) creativity-generating techniques

Question 17

Not everyone believes a customer focus helps to create better new products.Why might this be?

Accepted Answer

As Henry Ford famously said,"If I'd aske

Question 18

Fewer than 10% to 15% of all new products are truly innovative and new to the world.In producing a new-to-the-world product,as opposed to a brand or line extension,a firm and a market face increased pressures in what two areas?

Accepted Answer

A firm and the marketplace fac

Question 19

A product concept is an elaborated version of the idea expressed in consumer terms.

Accepted Answer

A) True 
 B)False

Question 20

Product-development costs rise substantially with each successive development stage,so screening is intended to drop poor ideas as early as possible.

Accepted Answer

A) True 
 B)False

Exam 20: Introducing New Market Offerings

A(n)________ is an elaborated version of the idea expressed in consumer terms.

A ________ occurs when the company permits a poor idea to move into development and commercialization.

Although developing new products can help a company get ahead in the marketplace,if a company currently markets a successful product,there is no need to spend money or staff time on developing new products.

Truly innovative firms must strongly condemn and punish failure within their product development organizations.

Concept testing of prototypes is particularly easy with radically different,new-to-the-world products.

Your personal physician prides himself on being on top of the literature regarding new medicines for his patients.In fact,your doctor prides himself on being the first to prescribe new medicines to help his patients.In marketing terms,your doctor can be said to be a(n)________.

A(n)________ loses money,but its sales cover all its variable costs and some of the fixed costs.

When we talk about "early adopters" for a new product,we are concerned with those opinion leaders who carefully search for new technologies that might give them a dramatic competitive advantage.

Truly innovative products incur the greatest cost and risk to the firm because they are both new to the company and new to the marketplace.

When the USB memory stick was introduced,it destroyed demand for floppy disks due to its vastly superior storage capacity,cheaper price per unit of storage capacity,and more convenient size,shape,and usage.This was an example of ________.

Newer companies create ________ that are cheaper and more likely to alter the competitive space.Established companies can be slow to react or invest in these technologies because they threaten their investment.

Several factors hinder new-product development today,including ________-when a new product is successful,rivals are quick to copy it.

SuperToy Co.just came out with a new remote controlled motorcycle,with a special battery pack that is purchased separately.When assessing the cash flows associated with the new toy,income from the purchase of the battery pack is considered ________.

The traditional system of new-product cocreation with consumers is giving way to a more company-centric approach to product innovation.

Many top companies use the ________ to manage the innovation process.They divide the process into several phases,and at the end of each phase is a checkpoint where senior managers can make go,kill,hold,or recycle decisions.

New-product ideas can come from interacting with various groups and from using _________.

Not everyone believes a customer focus helps to create better new products.Why might this be?

Fewer than 10% to 15% of all new products are truly innovative and new to the world.In producing a new-to-the-world product,as opposed to a brand or line extension,a firm and a market face increased pressures in what two areas?

A product concept is an elaborated version of the idea expressed in consumer terms.

Product-development costs rise substantially with each successive development stage,so screening is intended to drop poor ideas as early as possible.

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

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