Question 1

Following a successful concept test,the new-product manger will develop a preliminary strategy plan for introducing the new product into the market.

Accepted Answer

A) True 
 B)False

Question 2

The new-product development process starts with the search for ________.

Accepted Answer

A) production efficiency 
B) products that can be improved upon 
C) overseas products 
D) ideas 
E) strategy 
A) production efficiency 
B) products that can be improved upon 
C) overseas products 
D) ideas 
E) strategy

Question 3

In a simulated test market,the firm finds 30 to 40 qualified shoppers and questions them about brand familiarity and preferences in a specific product category.

Accepted Answer

A) True 
 B)False

Question 4

You have been asked to try a firm's new line of potato chips at no cost to you.Now you have been approached by the firm and asked if you would pay $1.00 per bag for these chips (regular price $1.99)or if you would prefer your regular brand of potato chips.You choose your favorite brand of chips instead.The firm then offers you the option of purchasing their chips for $.90 per bag.You are participating in a ________.

Accepted Answer

A) commercialization of a new product 
B) sales-wave research study 
C) controlled test market 
D) simulated test market 
E) test market 
A) commercialization of a new product 
B) sales-wave research study 
C) controlled test market 
D) simulated test market 
E) test market

Question 5

Conjoint analysis is a method for deriving the utility values that consumers attach to varying levels of a product's attributes.

Accepted Answer

A) True 
 B)False

Question 6

When prototypes are ready,they must be put through rigorous functional tests and ________ before they enter the marketplace.

Accepted Answer

A) consumer behavior testing 
B) customer tests 
C) internal tests 
D) marketing department testing 
E) lab testing 
A) consumer behavior testing 
B) customer tests 
C) internal tests 
D) marketing department testing 
E) lab testing

Question 7

The ________ method of measuring customer preferences asks the consumer to rank the options in order of preference.

Accepted Answer

A) rank-order 
B) paired-comparisons 
C) monadic-rating 
D) alpha-ranking 
E) beta-ranking 
A) rank-order 
B) paired-comparisons 
C) monadic-rating 
D) alpha-ranking 
E) beta-ranking

Question 8

Surgeons and ER nurses would be considered ________ for surgical equipment.

Accepted Answer

A) venture groups 
B) social networks 
C) buzz agents 
D) lead users 
E) all of the above 
A) venture groups 
B) social networks 
C) buzz agents 
D) lead users 
E) all of the above

Question 9

New-to-the- world products are ________.

Accepted Answer

A) new products that create an entirely new market 
B) new products that allow a company to enter an established market 
C) new products that supplement established product lines 
D) new products that provide greater perceived value and replace existing products 
E) existing products that are targeted to new markets or market segments 
A) new products that create an entirely new market 
B) new products that allow a company to enter an established market 
C) new products that supplement established product lines 
D) new products that provide greater perceived value and replace existing products 
E) existing products that are targeted to new markets or market segments

Question 10

The traditional company-centric approach to product innovation is giving way to ________.

Accepted Answer

A) the increasing importance of company R&D departments 
B) the cocreation of products with consumers 
C) the insights of senior executives in the go/no-go stage-gate decisions 
D) a more financially strict attitude toward funding new-product development 
E) all of the above 
A) the increasing importance of company R&D departments 
B) the cocreation of products with consumers 
C) the insights of senior executives in the go/no-go stage-gate decisions 
D) a more financially strict attitude toward funding new-product development 
E) all of the above

Question 11

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

Accepted Answer

A) marketing expertise 
B) relative advantage 
C) packaging 
D) government regulations 
E) all of the above 
A) marketing expertise 
B) relative advantage 
C) packaging 
D) government regulations 
E) all of the above

Question 12

Group brainstorming sessions should generally be allowed to run themselves.Trained facilitators tend to slow down the momentum of such sessions and quash innovation.

Accepted Answer

A) True 
 B)False

Question 13

Total estimated sales are the sum of estimated first-time sales,replacement sales,and ________ for the new product.

Accepted Answer

A) repeat sales 
B) one-time purchases 
C) infrequently purchased items 
D) consumer products 
E) industrial use products 
A) repeat sales 
B) one-time purchases 
C) infrequently purchased items 
D) consumer products 
E) industrial use products

Question 14

One of the reasons new products can fail is________.

Accepted Answer

A) low development cost 
B) government regulations 
C) poor packaging 
D) ignored or misinterpreted market research 
E) all of the above 
A) low development cost 
B) government regulations 
C) poor packaging 
D) ignored or misinterpreted market research 
E) all of the above

Question 15

When the major car companies added drink holders to the design of their cars,they were practicing ________,where the firm attaches high importance to incorporating customer preferences in the final designs.

Accepted Answer

A) listening skills 
B) marketing applications 
C) implementation of customer requests 
D) customer-driven engineering 
E) dual adaptation 
A) listening skills 
B) marketing applications 
C) implementation of customer requests 
D) customer-driven engineering 
E) dual adaptation

Question 16

New-product development requires senior management to define business domains,product categories,and specific criteria.

Accepted Answer

A) True 
 B)False

Question 17

A company should motivate its employees to submit new ideas to a(n)________,whose name and phone number are widely circulated.

Accepted Answer

A) idea manager 
B) senior product manager 
C) creative manager 
D) advertising manager 
E) top management person 
A) idea manager 
B) senior product manager 
C) creative manager 
D) advertising manager 
E) top management person

Question 18

________ means inviting the Internet community to help create content or software,often with prize money or a moment of glory involved.

Accepted Answer

A) Stage-gating 
B) Cocreation 
C) Microstocking 
D) Buzzing 
E) Crowdsourcing 
A) Stage-gating 
B) Cocreation 
C) Microstocking 
D) Buzzing 
E) Crowdsourcing

Question 19

Your firm has a new-product concept that seems to be a sure winner.You have estimated that the cost of development is $1 million,which the company does not have.As a result,this sure winner does not get out of the idea stage.This is an example of ________,which is one of the factors hindering new-product development.

Accepted Answer

A) shortages of new ideas 
B) cost of development 
C) faster required development times 
D) corporate culture 
E) capital shortage 
A) shortages of new ideas 
B) cost of development 
C) faster required development times 
D) corporate culture 
E) capital shortage

Question 20

Focus groups provide the most reliable data on the likelihood of success for radical innovations.

Accepted Answer

A) True 
 B)False

Following a successful concept test,the new-product manger will develop a preliminary strategy plan for introducing the new product into the market.

The new-product development process starts with the search for ________.

In a simulated test market,the firm finds 30 to 40 qualified shoppers and questions them about brand familiarity and preferences in a specific product category.

Conjoint analysis is a method for deriving the utility values that consumers attach to varying levels of a product's attributes.

When prototypes are ready,they must be put through rigorous functional tests and ________ before they enter the marketplace.

The ________ method of measuring customer preferences asks the consumer to rank the options in order of preference.

Surgeons and ER nurses would be considered ________ for surgical equipment.

New-to-the- world products are ________.

The traditional company-centric approach to product innovation is giving way to ________.

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

Group brainstorming sessions should generally be allowed to run themselves.Trained facilitators tend to slow down the momentum of such sessions and quash innovation.

Total estimated sales are the sum of estimated first-time sales,replacement sales,and ________ for the new product.

One of the reasons new products can fail is________.

When the major car companies added drink holders to the design of their cars,they were practicing ________,where the firm attaches high importance to incorporating customer preferences in the final designs.

New-product development requires senior management to define business domains,product categories,and specific criteria.

A company should motivate its employees to submit new ideas to a(n)________,whose name and phone number are widely circulated.

________ means inviting the Internet community to help create content or software,often with prize money or a moment of glory involved.

Focus groups provide the most reliable data on the likelihood of success for radical innovations.

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

Following a successful concept test,the new-product manger will develop a preliminary strategy plan for introducing the new product into the market.

The new-product development process starts with the search for ________.

In a simulated test market,the firm finds 30 to 40 qualified shoppers and questions them about brand familiarity and preferences in a specific product category.

Conjoint analysis is a method for deriving the utility values that consumers attach to varying levels of a product's attributes.

When prototypes are ready,they must be put through rigorous functional tests and ________ before they enter the marketplace.

The ________ method of measuring customer preferences asks the consumer to rank the options in order of preference.

Surgeons and ER nurses would be considered ________ for surgical equipment.

New-to-the- world products are ________.

The traditional company-centric approach to product innovation is giving way to ________.

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

Group brainstorming sessions should generally be allowed to run themselves.Trained facilitators tend to slow down the momentum of such sessions and quash innovation.

Total estimated sales are the sum of estimated first-time sales,replacement sales,and ________ for the new product.

One of the reasons new products can fail is________.

When the major car companies added drink holders to the design of their cars,they were practicing ________,where the firm attaches high importance to incorporating customer preferences in the final designs.

New-product development requires senior management to define business domains,product categories,and specific criteria.

A company should motivate its employees to submit new ideas to a(n)________,whose name and phone number are widely circulated.

________ means inviting the Internet community to help create content or software,often with prize money or a moment of glory involved.

Focus groups provide the most reliable data on the likelihood of success for radical innovations.

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