Question 1

Combining two product ideas or concepts to create a new offering,for example,oil change/lubrication facilities with cafés,is an example of ________.

Accepted Answer

A) lateral marketing 
B) internal marketing 
C) mind mapping 
D) morphological analysis 
E) forced relationships 
A) lateral marketing 
B) internal marketing 
C) mind mapping 
D) morphological analysis 
E) forced relationships

Question 2

You have been asked to participate in an idea-generating session.The moderator gives you the following directions: "List the attributes of the object in front of you (a cup),now modify each attribute by replacing each attribute with another." You are participating in what kind of creativity techniques?

Accepted Answer

A) Morphological analysis 
B) Mind mapping 
C) Forced relationships 
D) Attribute listing 
E) Reverse assumption analysis 
A) Morphological analysis 
B) Mind mapping 
C) Forced relationships 
D) Attribute listing 
E) Reverse assumption analysis

Question 3

The term "complexity" is defined as the degree to which the innovation is difficult to understand and use.

Accepted Answer

A) True 
 B)False

Question 4

A GO-error occurs when the company permits a poor idea to move into development and commercialization.Identify the three kinds of product failure that result from GO-errors.

Accepted Answer

An absolute product failure loses money;

Question 5

Your father-in-law still refuses to buy a DVD player.His rationale is that he still has a BetaMax VCR recorder in the basement that represents old technology.You inform him that videotape is an outdated technology and soon their will be no video tapes for rental or purchase.Based upon the factors influencing the adoption process,your father-in-law can be best described as a(n)________.

Accepted Answer

A) innovator 
B) early adopters 
C) member of the early majority 
D) member of the late majority 
E) laggard 
A) innovator 
B) early adopters 
C) member of the early majority 
D) member of the late majority 
E) laggard

Question 6

Consumer preferences for alternative product concepts can be measured through _________,a method for deriving the utility values that consumers attach to varying levels of a product's attributes.

Accepted Answer

A) marketing strategy 
B) marketing research 
C) gap level 
D) conjoint analysis 
E) purchase intentions 
A) marketing strategy 
B) marketing research 
C) gap level 
D) conjoint analysis 
E) purchase intentions

Question 7

A(n)_________ yields a profit that is less than the company's target rate of return.

Accepted Answer

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

Question 8

________ exhibit replacement cycles dictated by physical wear or obsolescence associated with changing style,features,and performance.

Accepted Answer

A) Expensive products 
B) Inexpensive products 
C) Commodity products 
D) Frequently purchased products 
E) Infrequently purchased products 
A) Expensive products 
B) Inexpensive products 
C) Commodity products 
D) Frequently purchased products 
E) Infrequently purchased products

Question 9

New-to-the world products are products that create entirely new markets.

Accepted Answer

A) True 
 B)False

Question 10

A company can add new products through acquisition or development.

Accepted Answer

A) True 
 B)False

Question 11

The term personal influence is the effect one person has on another's attitude or purchase probability.

Accepted Answer

A) True 
 B)False

Question 12

3M,Hewlett-Packard,Lego,and many other companies use the stage-gate system to manage the innovation process.Define the stage-gate system.

Accepted Answer

A stage-gate system describes the proces

Question 13

Attractive ideas must be refined into testable product concepts.A(n)________ is a possible product the company might offer to the market.

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 14

In controlled test marketing,a research firm manages a panel of stores that will carry new products for a fee.

Accepted Answer

A) True 
 B)False

Question 15

Replacement sales are generally very easy to estimate before the product is in use.

Accepted Answer

A) True 
 B)False

Question 16

In testing consumer products,the company seeks to estimate four variables: trial,first repeat,adoption,and purchase frequency.

Accepted Answer

A) True 
 B)False

Question 17

The new-product development process is always linear-products move past the stage gates in sequence and are not allowed to backtrack through previous gates.

Accepted Answer

A) True 
 B)False

Question 18

Your company has brought in 25 consumers identified as innovators and/or heavy users of its products and is observing them as they use your new product.This test is intended to expose unanticipated problems of safety and servicing and to alert you to customer training and servicing requirements.In marketing terms,this is called ________.

Accepted Answer

A) design testing 
B) alpha testing 
C) product testing 
D) regional testing 
E) beta testing 
A) design testing 
B) alpha testing 
C) product testing 
D) regional testing 
E) beta testing

Question 19

One-on-one interviews and ________ discussions can explore product needs and reactions.

Accepted Answer

A) focus-group 
B) strategic group 
C) customer relationship group 
D) management 
E) advertising agency 
A) focus-group 
B) strategic group 
C) customer relationship group 
D) management 
E) advertising agency

Question 20

Products designed for the world market,or at least to include neighboring countries,achieve significantly more profits,both at home and abroad.Thus companies should adopt an international focus in designing and developing new products.

Accepted Answer

A) True 
 B)False

Combining two product ideas or concepts to create a new offering,for example,oil change/lubrication facilities with cafés,is an example of ________.

The term "complexity" is defined as the degree to which the innovation is difficult to understand and use.

A GO-error occurs when the company permits a poor idea to move into development and commercialization.Identify the three kinds of product failure that result from GO-errors.

Consumer preferences for alternative product concepts can be measured through _________,a method for deriving the utility values that consumers attach to varying levels of a product's attributes.

A(n)_________ yields a profit that is less than the company's target rate of return.

________ exhibit replacement cycles dictated by physical wear or obsolescence associated with changing style,features,and performance.

New-to-the world products are products that create entirely new markets.

A company can add new products through acquisition or development.

The term personal influence is the effect one person has on another's attitude or purchase probability.

3M,Hewlett-Packard,Lego,and many other companies use the stage-gate system to manage the innovation process.Define the stage-gate system.

Attractive ideas must be refined into testable product concepts.A(n)________ is a possible product the company might offer to the market.

In controlled test marketing,a research firm manages a panel of stores that will carry new products for a fee.

Replacement sales are generally very easy to estimate before the product is in use.

In testing consumer products,the company seeks to estimate four variables: trial,first repeat,adoption,and purchase frequency.

The new-product development process is always linear-products move past the stage gates in sequence and are not allowed to backtrack through previous gates.

One-on-one interviews and ________ discussions can explore product needs and reactions.

Products designed for the world market,or at least to include neighboring countries,achieve significantly more profits,both at home and abroad.Thus companies should adopt an international focus in designing and developing new products.

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

Exam 20: Introducing New Market Offerings

Combining two product ideas or concepts to create a new offering,for example,oil change/lubrication facilities with cafés,is an example of ________.

The term "complexity" is defined as the degree to which the innovation is difficult to understand and use.

A GO-error occurs when the company permits a poor idea to move into development and commercialization.Identify the three kinds of product failure that result from GO-errors.

Consumer preferences for alternative product concepts can be measured through _________,a method for deriving the utility values that consumers attach to varying levels of a product's attributes.

A(n)_________ yields a profit that is less than the company's target rate of return.

________ exhibit replacement cycles dictated by physical wear or obsolescence associated with changing style,features,and performance.

New-to-the world products are products that create entirely new markets.

A company can add new products through acquisition or development.

The term personal influence is the effect one person has on another's attitude or purchase probability.

3M,Hewlett-Packard,Lego,and many other companies use the stage-gate system to manage the innovation process.Define the stage-gate system.

Attractive ideas must be refined into testable product concepts.A(n)________ is a possible product the company might offer to the market.

In controlled test marketing,a research firm manages a panel of stores that will carry new products for a fee.

Replacement sales are generally very easy to estimate before the product is in use.

In testing consumer products,the company seeks to estimate four variables: trial,first repeat,adoption,and purchase frequency.

The new-product development process is always linear-products move past the stage gates in sequence and are not allowed to backtrack through previous gates.

One-on-one interviews and ________ discussions can explore product needs and reactions.

Products designed for the world market,or at least to include neighboring countries,achieve significantly more profits,both at home and abroad.Thus companies should adopt an international focus in designing and developing new products.

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