Exam 20: Introducing New Marketing Offerings

Your firm has chosen a few representative cities, and the sales force tries to sell the trade on carrying the product and giving it good shelf exposure. The company puts on a full advertising and promotion campaign. Total costs exceed $1 million dollars. Your firm has decided to conduct a

When prototypes are ready, the must be put through rigorous functional tests and

The definition of "controlled test marketing" is when a research firm delivers the product to a panel of participating stores and controls shelf position, pricing, and number of facings, displays, and point-of-purchase promotions..

Once a company has carefully segmented the market, chosen its target customers, identified their needs, and determined its market positioning, it is better able to develop new products. Many companies today use ________ to design new products.

The amount of market testing is influenced by the investment cost and risk on the one hand, and the time pressure and planned product positioning on the other.

When we talk about "early adopters" for a new product, we are concerned with those opinion leaders who carefully search for new technologies that might give them a dramatic competitive advantage.

New-to-the-world products are

The consumer-adoption process focuses on the mental process through which an individual passes from first hearing about an innovation to final adoption or use of the product/service. Adopters of new products have been observed to move through five distinct stages. List these stages and define.

3M, Hewlett-Packard, Lego, and many other companies use the "stage-gate system" to manage the innovation process. Define the "stage-gate system."

Ideas for new products can come from many sources, such as customers, scientists, competitors, employees, channel members, and

To introduce a major new consumer packaged good into the North American market the company may have to spend from $ 25 million to $100 million in advertising, promotion, and other communications in the first year.

Attractive ideas must be refined into testable product concepts. A ________ is a possible product the company might offer to the market.

________ process recognizes the value of returning to an earlier stage to make improvements before moving forward.

You have been asked to estimate sales for your company's new "pet food feeder" product. Some of the criteria that will enter into your calculations include first time sales plus other considerations. List these "other considerations" for estimating first time sales.

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

Adaptive conjoint analysis (ACA) is a "hybrid" data collection technique that combines self-explicated importance ratings with pair-wise trade-off tasks.

A company can add new products through acquisition or development.

One of the reasons new products can fail is

Ansell Healthcare, Hydro Quebec, and other companies use the ________ to manage the innovation process.

Less than 10 percent of all new products are truly innovative and new to the world, likewhen W.L. Gore introduced brand new products such as Gore-Tex outdoor fabric and shred-resistant dental floss. What is the risk and reward?