Question 1

________ works by listing all the normal assumptions about an entity and then turning them around.

Accepted Answer

A)  Lateral marketing 
B)  Attribute listing 
C)  Reverse assumption analysis 
D)  Forced relationships 
E)  Morphological analysis 
A)  Lateral marketing 
B)  Attribute listing 
C)  Reverse assumption analysis 
D)  Forced relationships 
E)  Morphological analysis

Question 2

For a frequently purchased new product, the seller estimates repeat sales as well as first-time sales. A high rate of repeat purchasing means customers ________.

Accepted Answer

A)  value price more than differentiation 
B)  do not support innovation on brands 
C)  value differentiation more than price 
D)  prefer personalized products rather than standard ones 
E)  are satisfied with the product 
A)  value price more than differentiation 
B)  do not support innovation on brands 
C)  value differentiation more than price 
D)  prefer personalized products rather than standard ones 
E)  are satisfied with the product

Question 3

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

Accepted Answer

A)  venture agents 
B)  internal customers 
C)  buzz agents 
D)  lead users 
E)  connectors 
A)  venture agents 
B)  internal customers 
C)  buzz agents 
D)  lead users 
E)  connectors

Question 4

The ________ used by companies divides the innovation process into stages, with a checkpoint at the end of each stage.

Accepted Answer

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

Question 5

A category concept defines the product's attributes and features.

Accepted Answer

A) True 
 B)False

Question 6

The ________ creativity technique begins in a thought that is written down, then proceeds to develop other thoughts that are linked to the first thought, and finally materializes a new idea by associating all the thoughts.

Accepted Answer

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

Question 7

Modular function deployment methodology takes the list of desired customer attributes generated by market research and turns them into a list of engineering attributes that engineers can use.

Accepted Answer

A) True 
 B)False

Question 8

Reverse assumption analysis lists all the normal assumptions about an entity and then turns them around.

Accepted Answer

A) True 
 B)False

Question 9

________ teams are cross-functional groups charged with developing a specific product or business.

Accepted Answer

A)  Virtual 
B)  Venture 
C)  Fundamental 
D)  Elemental 
E)  Transitory 
A)  Virtual 
B)  Venture 
C)  Fundamental 
D)  Elemental 
E)  Transitory

Question 10

Which of the following is the mental step in consumer-adoption process where the customer starts considering whether to try the innovation?

Accepted Answer

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

Question 11

A group of college graduates decide to start a business. Though they are knowledgeable in various business domains, they are unable to arrive at a valuable business idea. They decide to search for ideas in a structured manner. They meet together and start discussing everyone's ideas. Each idea is recorded and then the thoughts that come up in relation to the ideas are written down and discussed. This process helps them to finalize a business plan. What technique is used here?

Accepted Answer

A)  morphological analysis 
B)  forced relationship analysis 
C)  reverse assumption analysis 
D)  attribute listing 
E)  mind mapping 
A)  morphological analysis 
B)  forced relationship analysis 
C)  reverse assumption analysis 
D)  attribute listing 
E)  mind mapping

Question 12

Which of the following is usually referred to as a full-blown test market?

Accepted Answer

A)  an internal focus group 
B)  a discussion group 
C)  a country 
D)  a city or a few cities 
E)  a laboratory 
A)  an internal focus group 
B)  a discussion group 
C)  a country 
D)  a city or a few cities 
E)  a laboratory

Question 13

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)  concept testing 
B)  perceptual mapping 
C)  gap level analysis 
D)  conjoint analysis 
E)  morphological analysis 
A)  concept testing 
B)  perceptual mapping 
C)  gap level analysis 
D)  conjoint analysis 
E)  morphological analysis

Question 14

What is a brand-positioning map?

Accepted Answer

A brand-positioning map is a p

Question 15

The strategic blueprint thinks about how the new product can fit into customers' lives and how it can be distinguished from competitors.

Accepted Answer

A) True 
 B)False

Question 16

A ________ error occurs when the company dismisses a good idea.

Accepted Answer

A)  probability 
B)  performance 
C)  double counting 
D)  DROP 
E)  GO 
A)  probability 
B)  performance 
C)  double counting 
D)  DROP 
E)  GO

Question 17

A DROP-error occurs when the company accepts a bad idea.

Accepted Answer

A) True 
 B)False

Question 18

The job of translating target customer requirements into a working prototype is helped by a set of methods referred to as ________.

Accepted Answer

A)  quality function deployment 
B)  quality control processes 
C)  rapid prototyping 
D)  marketing control 
E)  control system formation 
A)  quality function deployment 
B)  quality control processes 
C)  rapid prototyping 
D)  marketing control 
E)  control system formation

Question 19

Shorter product life cycles are common in industries characterized by low level of competition.

Accepted Answer

A) True 
 B)False

Question 20

Tosho Electronics, a leading Japanese, electronic manufacturer believes shorter product life cycles of new products reduces the scope for R&D and innovation. Offer a possible reason for shorter lifecycles.

Accepted Answer

Student answers may vary.
Rivals are qui

Exam 20: Introducing New Market Offerings

________ works by listing all the normal assumptions about an entity and then turning them around.

For a frequently purchased new product, the seller estimates repeat sales as well as first-time sales. A high rate of repeat purchasing means customers ________.

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

The ________ used by companies divides the innovation process into stages, with a checkpoint at the end of each stage.

A category concept defines the product's attributes and features.

The ________ creativity technique begins in a thought that is written down, then proceeds to develop other thoughts that are linked to the first thought, and finally materializes a new idea by associating all the thoughts.

Modular function deployment methodology takes the list of desired customer attributes generated by market research and turns them into a list of engineering attributes that engineers can use.

Reverse assumption analysis lists all the normal assumptions about an entity and then turns them around.

________ teams are cross-functional groups charged with developing a specific product or business.

Which of the following is the mental step in consumer-adoption process where the customer starts considering whether to try the innovation?

Which of the following is usually referred to as a full-blown test market?

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.

What is a brand-positioning map?

The strategic blueprint thinks about how the new product can fit into customers' lives and how it can be distinguished from competitors.

A ________ error occurs when the company dismisses a good idea.

A DROP-error occurs when the company accepts a bad idea.

The job of translating target customer requirements into a working prototype is helped by a set of methods referred to as ________.

Shorter product life cycles are common in industries characterized by low level of competition.

Tosho Electronics, a leading Japanese, electronic manufacturer believes shorter product life cycles of new products reduces the scope for R&D and innovation. Offer a possible reason for shorter lifecycles.

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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