Question 1

Which of the following firms is most likely to seek radical innovation?

Accepted Answer

A)  a traditional publishing company 
B)  a small scale FMCG company 
C)  a firm that procures and markets wheat 
D)  a high-tech firm in telecommunications 
E)  a firm that sells mineral water 
A)  a traditional publishing company 
B)  a small scale FMCG company 
C)  a firm that procures and markets wheat 
D)  a high-tech firm in telecommunications 
E)  a firm that sells mineral water

Question 2

Which of the following uses conceptual lens and structured innovative-thinking tools to achieve market perspectives from different angles?

Accepted Answer

A)  business analysis 
B)  strategic blueprint 
C)  internal design analysis 
D)  demand landscape 
E)  opportunity space 
A)  business analysis 
B)  strategic blueprint 
C)  internal design analysis 
D)  demand landscape 
E)  opportunity space

Question 3

Many believe that customer focus does not help to create better or new products. This belief rests on which of the following ideas?

Accepted Answer

A)  Such new product developments decrease the chances of success. 
B)  Customers do not consider the cost of design when suggesting. 
C)  Customers are at times unaware of what they really want. 
D)  It increases the cost of testing a product or service. 
E)  Having too much customer focus leads to a negative brand image. 
A)  Such new product developments decrease the chances of success. 
B)  Customers do not consider the cost of design when suggesting. 
C)  Customers are at times unaware of what they really want. 
D)  It increases the cost of testing a product or service. 
E)  Having too much customer focus leads to a negative brand image.

Question 4

Attribute listing lists several ideas and considers each in relationship to the others.

Accepted Answer

A) True 
 B)False

Question 5

Organic growth refers to increasing the profitability of the organization by increasing employee productivity.

Accepted Answer

A) True 
 B)False

Question 6

Caribou Coffee Company, Inc. operates coffeehouses primarily in the United States. The company wants to launch a new brand of specialty coffee and it has created a few hypothetical combinations. The company wants to select two of the combinations after obtaining a ranking by customers based on their preference. What concept testing method is suited here?

Accepted Answer

The company can use conjoint a

Question 7

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

Accepted Answer

A)  commodity 
B)  innovation 
C)  adoption 
D)  invention 
E)  novel product 
A)  commodity 
B)  innovation 
C)  adoption 
D)  invention 
E)  novel product

Question 8

The ________ technique used for stimulating creativity identifies a problem and then considers the dimension, the medium, and the power source.

Accepted Answer

A)  attribute listing 
B)  reverse assumption analysis 
C)  mind mapping 
D)  lateral marketing 
E)  morphological analysis 
A)  attribute listing 
B)  reverse assumption analysis 
C)  mind mapping 
D)  lateral marketing 
E)  morphological analysis

Question 9

Cocreation can help a company create favorable word of mouth.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is the best example of a new-to-the-world product?

Accepted Answer

A)  Walmart, the retail giant, opens new stores in an underdeveloped African country. 
B)  Pestorica, a publishing company, decides to launch a new sports magazine. 
C)  Tata Motors, an Indian automobile company, acquires Jaguar to extend its business. 
D)  An Asian company licenses a U.S. apparel brand name though the brand is not familiar in Asia. 
E)  Kids-Med, a company that produces childcare products, launches a non-contact thermometer. 
A)  Walmart, the retail giant, opens new stores in an underdeveloped African country. 
B)  Pestorica, a publishing company, decides to launch a new sports magazine. 
C)  Tata Motors, an Indian automobile company, acquires Jaguar to extend its business. 
D)  An Asian company licenses a U.S. apparel brand name though the brand is not familiar in Asia. 
E)  Kids-Med, a company that produces childcare products, launches a non-contact thermometer.

Question 11

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 12

Expensive industrial goods and new technologies will normally undergo alpha and beta testing.

Accepted Answer

A) True 
 B)False

Question 13

Beta testing tests the product within the firm to see how it performs in different applications.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

In sales-wave research, consumers who in

Question 15

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 16

A team formed at Intercom, Inc. to generate ideas for new products, conducts frequent meetings and engages in activities such as mind mapping and brainstorming. Most of the meetings are conducted at informal locations away from office. These workplaces are called ________.

Accepted Answer

A)  skunkworks 
B)  idea funnels 
C)  research centers 
D)  stage gate systems 
E)  contextual bases 
A)  skunkworks 
B)  idea funnels 
C)  research centers 
D)  stage gate systems 
E)  contextual bases

Question 17

Identify a shortcoming of giving the responsibility of new product development to the product managers of a company.

Accepted Answer

A)  They would not be familiar with the industry standards. 
B)  Product managers would not have an operational focus. 
C)  Product managers are often busy managing existing lines. 
D)  They will find it difficult to gain support from employees. 
E)  Product managers are less likely to use participative management. 
A)  They would not be familiar with the industry standards. 
B)  Product managers would not have an operational focus. 
C)  Product managers are often busy managing existing lines. 
D)  They will find it difficult to gain support from employees. 
E)  Product managers are less likely to use participative management.

Question 18

The highest loss a project can create is called ________.

Accepted Answer

A)  rapid prototyping income 
B)  payback income 
C)  maximum investment exposure 
D)  incremental yearly exposure 
E)  cannibalized income 
A)  rapid prototyping income 
B)  payback income 
C)  maximum investment exposure 
D)  incremental yearly exposure 
E)  cannibalized income

Question 19

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 20

The ________ uses observational, anthropological, and ethnographic methods or consumer self-reports to map consumer needs, wants, and even beyond.

Accepted Answer

A)  business analysis 
B)  demand landscape 
C)  opportunity space 
D)  strategic blueprint 
E)  internal design analysis 
A)  business analysis 
B)  demand landscape 
C)  opportunity space 
D)  strategic blueprint 
E)  internal design analysis

Exam 20: Introducing New Market Offerings

Which of the following firms is most likely to seek radical innovation?

Which of the following uses conceptual lens and structured innovative-thinking tools to achieve market perspectives from different angles?

Many believe that customer focus does not help to create better or new products. This belief rests on which of the following ideas?

Attribute listing lists several ideas and considers each in relationship to the others.

Organic growth refers to increasing the profitability of the organization by increasing employee productivity.

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

The ________ technique used for stimulating creativity identifies a problem and then considers the dimension, the medium, and the power source.

Cocreation can help a company create favorable word of mouth.

Which of the following is the best example of a new-to-the-world product?

Most new-product activities are devoted to ________.

Expensive industrial goods and new technologies will normally undergo alpha and beta testing.

Beta testing tests the product within the firm to see how it performs in different applications.

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

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.

A team formed at Intercom, Inc. to generate ideas for new products, conducts frequent meetings and engages in activities such as mind mapping and brainstorming. Most of the meetings are conducted at informal locations away from office. These workplaces are called ________.

Identify a shortcoming of giving the responsibility of new product development to the product managers of a company.

The highest loss a project can create is called ________.

New-to-the-world products are ________.

The ________ uses observational, anthropological, and ethnographic methods or consumer self-reports to map consumer needs, wants, and even beyond.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

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 Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Tapping into Global Markets

Managing a Holistic Marketing Organization for the Long Run

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