Question 1

How should a company go about determining target market prospects within rollout markets?

Accepted Answer

A company must target its initial distri

Question 2

A(n) ________ is any good, service, or idea that is perceived by someone as new. The idea may have a long history, but it is new to the person who sees it as such.

Accepted Answer

A)  innovation 
B)  new idea 
C)  enhancement 
D)  product 
E)  creative product 
A)  innovation 
B)  new idea 
C)  enhancement 
D)  product 
E)  creative product

Question 3

Company ________ and intermediaries are a particular good source of ideas. These groups have firsthand exposure to customers and area often the first to learn about competitive developments.

Accepted Answer

A)  competitors 
B)  marketing departments 
C)  customers 
D)  top management 
E)  sales representatives 
A)  competitors 
B)  marketing departments 
C)  customers 
D)  top management 
E)  sales representatives

Question 4

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

Accepted Answer

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

Question 5

To bring new products to market, some companies have assigned responsibility to new-product managers, new-product departments, and high-level management committees. These would all be examples of

Accepted Answer

A)  product organizations within firms. 
B)  marketing organizations. 
C)  intrapreneurs. 
D)  new-product development organizations within firms. 
E)  existing-product marketing organizations. 
A)  product organizations within firms. 
B)  marketing organizations. 
C)  intrapreneurs. 
D)  new-product development organizations within firms. 
E)  existing-product marketing organizations.

Question 6

Adaptive conjoint analysis (ACA) 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 7

Muriel wishes to purchase Adidas running shoes because her friend Yasmine speaks so highly of the brand. Yasmine has exerted ________ influence on Muriel's purchase decision.

Accepted Answer

A)  communicability 
B)  relative 
C)  personal 
D)  aspirational 
E)  biased 
A)  communicability 
B)  relative 
C)  personal 
D)  aspirational 
E)  biased

Question 8

Some of the most successful recent new consumer products have beenbrand extensions: Tide Total Care, Always Infinity, and Secret Flawless deodorant.

Accepted Answer

A) True 
 B)False

Question 9

New products continue to fail at a disturbing rate. In Canada, ________ of new consumer products fail within two years.

Accepted Answer

A)  85 percent 
B)  45 percent 
C)  90 percent 
D)  75 percent 
E)  80 percent 
A)  85 percent 
B)  45 percent 
C)  90 percent 
D)  75 percent 
E)  80 percent

Question 10

In consumer-goods market testing, the company seeks to estimate four variables. These four variables are: trial, first repeat, adoption, and

Accepted Answer

A)  purchase frequency. 
B)  preferences. 
C)  money back guarantee. 
D)  usage. 
E)  price. 
A)  purchase frequency. 
B)  preferences. 
C)  money back guarantee. 
D)  usage. 
E)  price.

Question 11

Your company's new "pet food feeder" is ready for test marketing. Define the variables that you must try to measure during the test market?

Accepted Answer

The four variables a

Question 12

___________ can be a good source of input, even when they innovate products without the consent or knowledge of the companies that produce them.

Accepted Answer

A)  Innovators 
B)  Early adopters 
C)  Lead users 
D)  Laggards 
E)  Focus group 
A)  Innovators 
B)  Early adopters 
C)  Lead users 
D)  Laggards 
E)  Focus group

Question 13

________ is(are) a cross-functional group charged with developing a specific product or business.

Accepted Answer

A)  A venture team 
B)  Contract manufacturing 
C)  Product managers 
D)  Spiral development 
E)  New product managers 
A)  A venture team 
B)  Contract manufacturing 
C)  Product managers 
D)  Spiral development 
E)  New product managers

Question 14

All companies undertake market testing.

Accepted Answer

A) True 
 B)False

Question 15

New-product introductions have accelerated, and in retailing, consumer goods, electronics, autos, and other industries, the time to bring a product to market has been cut by ________ percent.

Accepted Answer

A)  10 
B)  30 
C)  50 
D)  70 
E)  90 
A)  10 
B)  30 
C)  50 
D)  70 
E)  90

Question 16

Companies typically must create a strong R&D and marketing partnership to pull off a radical innovation.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is most closely related with the organic growth of an organization?

Accepted Answer

A)  acquiring a product or service brand 
B)  entering new market places 
C)  increasing the operational profitability 
D)  developing new products from within 
E)  increasing productivity of employees 
A)  acquiring a product or service brand 
B)  entering new market places 
C)  increasing the operational profitability 
D)  developing new products from within 
E)  increasing productivity of employees

Question 18

People who are technology enthusiasts, venturesome, and who enjoy tinkering with new products and mastering their intricacies are called ________.

Accepted Answer

A)  laggards. 
B)  innovators. 
C)  experimenters 
D)  early adopters. 
E)  indirect users. 
A)  laggards. 
B)  innovators. 
C)  experimenters 
D)  early adopters. 
E)  indirect users.

Question 19

The second part of the strategy plan for the new product includes price, distribution strategy, and marketing budget for the first year.

Accepted Answer

A) True 
 B)False

Question 20

Even armed with good marketing research, new products can fail due to

Accepted Answer

A)  poor packaging. 
B)  high development costs. 
C)  consumer stubbornness. 
D)  government regulations. 
E)  competitive pricing. 
A)  poor packaging. 
B)  high development costs. 
C)  consumer stubbornness. 
D)  government regulations. 
E)  competitive pricing.

Exam 20: Introducing New Marketing Offerings

How should a company go about determining target market prospects within rollout markets?

A(n) ________ is any good, service, or idea that is perceived by someone as new. The idea may have a long history, but it is new to the person who sees it as such.

Company ________ and intermediaries are a particular good source of ideas. These groups have firsthand exposure to customers and area often the first to learn about competitive developments.

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

To bring new products to market, some companies have assigned responsibility to new-product managers, new-product departments, and high-level management committees. These would all be examples of

Adaptive conjoint analysis (ACA) is a method for deriving the utility values that consumers attach to varying levels of a product's attributes.

Muriel wishes to purchase Adidas running shoes because her friend Yasmine speaks so highly of the brand. Yasmine has exerted ________ influence on Muriel's purchase decision.

Some of the most successful recent new consumer products have beenbrand extensions: Tide Total Care, Always Infinity, and Secret Flawless deodorant.

New products continue to fail at a disturbing rate. In Canada, ________ of new consumer products fail within two years.

In consumer-goods market testing, the company seeks to estimate four variables. These four variables are: trial, first repeat, adoption, and

Your company's new "pet food feeder" is ready for test marketing. Define the variables that you must try to measure during the test market?

___________ can be a good source of input, even when they innovate products without the consent or knowledge of the companies that produce them.

________ is(are) a cross-functional group charged with developing a specific product or business.

All companies undertake market testing.

New-product introductions have accelerated, and in retailing, consumer goods, electronics, autos, and other industries, the time to bring a product to market has been cut by ________ percent.

Companies typically must create a strong R&D and marketing partnership to pull off a radical innovation.

Which of the following is most closely related with the organic growth of an organization?

People who are technology enthusiasts, venturesome, and who enjoy tinkering with new products and mastering their intricacies are called ________.

The second part of the strategy plan for the new product includes price, distribution strategy, and marketing budget for the first year.

Even armed with good marketing research, new products can fail due to

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 Position

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

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