Exam 20: Introducing New Marketing Offerings

The innovation diffusion process has been defined by Rogers as "the spread of a new idea from its source of invention or creation to its ultimate users or adopters." The consumer-adoption process is the ________ steps through which an individual passes from first hearing about an innovation to final adoption.

Describe "concept testing" as it is used to manage the development process.

The financial analysis for your new product shows that for the fist year you must sell 100 000 units at an average selling price of $10.00 in order to cover the costs of introduction, marketing, and development. The financial process used to arrive at these numbers is called

The job of translating target customer requirements into a working prototype is helped by a set of methods known as

According to IDEO's CEO Tim Brown, innovation isn't about brilliant people spontaneously generating new ideas, but about finding hidden assumptions and ignored processes that can change the way a company does business.

A "product concept" is an elaborated version of the idea expressed in consumer terms.

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.

A powdered instant breakfast drink is at the concept testing stage. Which product dimension is being measured when researchers ask target consumers whether or not they see the product solving a problem?

"New-to-the world products" are products that create entirely new markets.

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