Question 1

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

Accepted Answer

A)  Frequently purchased products 
B)  High-moving goods 
C)  Inexpensive products 
D)  Commodity products 
E)  Infrequently purchased products 
A)  Frequently purchased products 
B)  High-moving goods 
C)  Inexpensive products 
D)  Commodity products 
E)  Infrequently purchased products

Question 2

Perceived value refers to the gap between actual needs and satisfied needs of a customer.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is an advantage of sales-wave research?

Accepted Answer

A)  It gives surprisingly accurate results on advertising effectiveness. 
B)  It allows the brand to gain favorable shelf position. 
C)  It guarantees immediate brand recognition and high sales volume. 
D)  It can be implemented quickly with a fair amount of security. 
E)  It easily creates a buzz in the minds of customers. 
A)  It gives surprisingly accurate results on advertising effectiveness. 
B)  It allows the brand to gain favorable shelf position. 
C)  It guarantees immediate brand recognition and high sales volume. 
D)  It can be implemented quickly with a fair amount of security. 
E)  It easily creates a buzz in the minds of customers.

Question 4

How do companies organize new product development?

Accepted Answer

Companies handle the organizational aspe

Question 5

Which of the following products is most likely to undergo alpha and beta testing?

Accepted Answer

A)  food products 
B)  industrial goods 
C)  consumer products 
D)  commodities 
E)  FMCG products 
A)  food products 
B)  industrial goods 
C)  consumer products 
D)  commodities 
E)  FMCG products

Question 6

Increasingly, new-product ideas arise from ________ that combines two product concepts or ideas to create a new offering.

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 7

The trade-off approach may be easier to use when there are only a few variables and alternatives.

Accepted Answer

A) True 
 B)False

Question 8

Poga International, a multinational beverage corporation identifies that one of its competitors is launching an apple flavored drink. The company decides to launch an apple flavor brand along with its competitor. What timing strategy is used here?

Accepted Answer

A)  first entry 
B)  blunt entry 
C)  parallel entry 
D)  late entry 
E)  exchange entry 
A)  first entry 
B)  blunt entry 
C)  parallel entry 
D)  late entry 
E)  exchange entry

Question 9

A business analysis is typically performed after the management has developed the product concept and marketing strategy.

Accepted Answer

A) True 
 B)False

Question 10

Morphological analysis starts by forming a new dimension and then thinks about the possible problems of the dimension.

Accepted Answer

A) True 
 B)False

Question 11

________ 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 12

Robert has heard about the latest cell phone from LG electronics that features Wi-Fi hotspot technology. Wi-Fi hotspot is a technology that allows users to share mobile internet with other Wi-Fi enabled devices. Robert visits the company's Web site to read more about the phone. Robert is in the ________ stage of consumer-adoption process.

Accepted Answer

A)  interest 
B)  awareness 
C)  evaluation 
D)  trial 
E)  adoption 
A)  interest 
B)  awareness 
C)  evaluation 
D)  trial 
E)  adoption

Question 13

To estimate replacement sales, management must research the product's ________, the number of units that fail in year one, two, three, and so on.

Accepted Answer

A)  survival-age distribution 
B)  lifecycle ratio 
C)  obsolescence rate 
D)  business turnover ratio 
E)  product-performance usage 
A)  survival-age distribution 
B)  lifecycle ratio 
C)  obsolescence rate 
D)  business turnover ratio 
E)  product-performance usage

Question 14

I-ball, a cell phone manufacturer introduces a cell phone targeted at customers aged above 70. It has features such as loud volume, large keys, and so forth. How do you classify this product innovation? What could be a possible disadvantage of this product?

Accepted Answer

This can be considered a new-t

Question 15

Morboro Energy, Inc. is a large chain of fuel stations in Europe. The company decided to expand its business by incorporating restaurants and automobile service stations as a part of its fuel outlets. This is an example of ________.

Accepted Answer

A)  lateral marketing 
B)  brand extension 
C)  market development 
D)  internal marketing 
E)  brand personification 
A)  lateral marketing 
B)  brand extension 
C)  market development 
D)  internal marketing 
E)  brand personification

Question 16

________ contribution lists the changes in income to other company products caused by the introduction of a new product.

Accepted Answer

A)  Supplementary 
B)  Dragalong 
C)  Gross 
D)  Cumulative 
E)  Net 
A)  Supplementary 
B)  Dragalong 
C)  Gross 
D)  Cumulative 
E)  Net

Question 17

Companies that fail to develop new products leave their existing offerings vulnerable to increased domestic and foreign competition.

Accepted Answer

A) True 
 B)False

Question 18

Concept testing means validating the product concept by discussing within the design group.

Accepted Answer

A) True 
 B)False

Question 19

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

Question 20

Relative advantage of an innovation refers to the degree to which ________.

Accepted Answer

A)  it matches the values and experiences of the individuals 
B)  it is difficult to understand or use 
C)  it can be tried on a limited basis 
D)  it appears superior to existing products 
E)  the benefits of use are observable or describable to others 
A)  it matches the values and experiences of the individuals 
B)  it is difficult to understand or use 
C)  it can be tried on a limited basis 
D)  it appears superior to existing products 
E)  the benefits of use are observable or describable to others

Exam 20: Introducing New Market Offerings

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

Perceived value refers to the gap between actual needs and satisfied needs of a customer.

Which of the following is an advantage of sales-wave research?

How do companies organize new product development?

Which of the following products is most likely to undergo alpha and beta testing?

Increasingly, new-product ideas arise from ________ that combines two product concepts or ideas to create a new offering.

The trade-off approach may be easier to use when there are only a few variables and alternatives.

Poga International, a multinational beverage corporation identifies that one of its competitors is launching an apple flavored drink. The company decides to launch an apple flavor brand along with its competitor. What timing strategy is used here?

A business analysis is typically performed after the management has developed the product concept and marketing strategy.

Morphological analysis starts by forming a new dimension and then thinks about the possible problems of the dimension.

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

To estimate replacement sales, management must research the product's ________, the number of units that fail in year one, two, three, and so on.

I-ball, a cell phone manufacturer introduces a cell phone targeted at customers aged above 70. It has features such as loud volume, large keys, and so forth. How do you classify this product innovation? What could be a possible disadvantage of this product?

Morboro Energy, Inc. is a large chain of fuel stations in Europe. The company decided to expand its business by incorporating restaurants and automobile service stations as a part of its fuel outlets. This is an example of ________.

________ contribution lists the changes in income to other company products caused by the introduction of a new product.

Companies that fail to develop new products leave their existing offerings vulnerable to increased domestic and foreign competition.

Concept testing means validating the product concept by discussing within the design group.

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

Relative advantage of an innovation refers to the degree to which ________.

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

Filters