Question 1

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

Accepted Answer

A) True 
 B)False

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 are ________.

Accepted Answer

A)  dissatisfied with the product 
B)  brand switchers 
C)  satisfied with the product 
D)  brand evangelists 
E)  indifferent to the product 
A)  dissatisfied with the product 
B)  brand switchers 
C)  satisfied with the product 
D)  brand evangelists 
E)  indifferent to the product

Question 3

A(n)________ is an elaborated version of the idea expressed in consumer terms.

Accepted Answer

A)  test brand 
B)  alpha product 
C)  beta version 
D)  product idea 
E)  product concept 
A)  test brand 
B)  alpha product 
C)  beta version 
D)  product idea 
E)  product concept

Question 4

When Tide introduces a new fragrance of laundry detergent,some consumers who buy the new fragrance switch from other Tide variants,as opposed to from other brands.The income lost on the other Tide variants is called ________.

Accepted Answer

A)  dragalong income 
B)  incremental income 
C)  disruptive income 
D)  intrinsic income 
E)  cannibalized income 
A)  dragalong income 
B)  incremental income 
C)  disruptive income 
D)  intrinsic income 
E)  cannibalized income

Question 5

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

Accepted Answer

A)  quality function deployment (QF
D)  
B)  quality control processes (QFP) 
C)  R&D 
D)  marketing control 
E)  none of the above 
A)  quality function deployment (QF
D)  
B)  quality control processes (QFP) 
C)  R&D 
D)  marketing control 
E)  none of the above

Question 6

The traditional system of new-product cocreation with consumers is giving way to a more company-centric approach to product innovation.

Accepted Answer

A) True 
 B)False

Question 7

A(n)________ strategy to designing new products attaches high importance to incorporating customer preferences in the final design.

Accepted Answer

A)  customer-driven engineering 
B)  market leadership 
C)  cost leadership 
D)  incremental innovation 
E)  disruptive technology 
A)  customer-driven engineering 
B)  market leadership 
C)  cost leadership 
D)  incremental innovation 
E)  disruptive technology

Question 8

A(n)________ loses money when its sales do not cover variable costs.

Accepted Answer

A)  strategic product failure 
B)  market product failure 
C)  absolute product failure 
D)  relative product failure 
E)  transfer product failure 
A)  strategic product failure 
B)  market product failure 
C)  absolute product failure 
D)  relative product failure 
E)  transfer product failure

Question 9

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

Accepted Answer

A stage-gate system describes the proces

Question 10

The job of translating target customer requirements into a working prototype is helped by a set of methods known as quality function deployment,which takes the desired customer attributes and turns them into a list of engineering attributes.

Accepted Answer

A) True 
 B)False

Question 11

Your firm has a new-product concept that seems to be a sure winner.You have estimated that the cost of development is $1 million,which the company does not have.As a result,this sure winner does not get out of the idea stage.This is an example of ________,which is one of the factors hindering new-product development.

Accepted Answer

A)  shortages of new ideas 
B)  cost of development 
C)  faster required development times 
D)  corporate culture 
E)  capital shortage 
A)  shortages of new ideas 
B)  cost of development 
C)  faster required development times 
D)  corporate culture 
E)  capital shortage

Question 12

One of the reasons new products can fail is________.

Accepted Answer

A)  low development cost 
B)  government regulations 
C)  poor packaging 
D)  ignored or misinterpreted market research 
E)  all of the above 
A)  low development cost 
B)  government regulations 
C)  poor packaging 
D)  ignored or misinterpreted market research 
E)  all of the above

Question 13

The new-product development process starts with the search for ideas.New-product ideas can come from interacting with various groups and using creativity-generating techniques.Identify and define these techniques.

Accepted Answer

A sampling of techniques inclu

Question 14

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 focuses on the ________ process through which an individual passes from first hearing about an innovation to final adoption.

Accepted Answer

A)  mental 
B)  physical 
C)  manual 
D)  critical path 
E)  management 
A)  mental 
B)  physical 
C)  manual 
D)  critical path 
E)  management

Question 15

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 ________.

Accepted Answer

A)  financial analysis 
B)  statistical analysis 
C)  covariant analysis 
D)  breakeven analysis 
E)  risk analysis 
A)  financial analysis 
B)  statistical analysis 
C)  covariant analysis 
D)  breakeven analysis 
E)  risk analysis

Question 16

The number-one success factor for new products is ________.

Accepted Answer

A)  product uniqueness and superiority 
B)  a marketing department that has expertise in new products 
C)  a firm with deep pockets 
D)  a tight marketing budget 
E)  market-skimming pricing 
A)  product uniqueness and superiority 
B)  a marketing department that has expertise in new products 
C)  a firm with deep pockets 
D)  a tight marketing budget 
E)  market-skimming pricing

Question 17

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 and define these stages.

Accepted Answer

The stages are: (1)awareness,where the c

Question 18

When prototypes are ready,they must be put through rigorous functional tests and ________ before they enter the marketplace.

Accepted Answer

A)  consumer behavior testing 
B)  customer tests 
C)  internal tests 
D)  marketing department testing 
E)  lab testing 
A)  consumer behavior testing 
B)  customer tests 
C)  internal tests 
D)  marketing department testing 
E)  lab testing

Question 19

Not everyone believes a customer focus helps to create better new products.Why might this be

Accepted Answer

As Henry Ford famously said,"If I'd aske

Question 20

The more a tested concept resembles the final product or experience,the more dependable concept testing is.

Accepted Answer

A) True 
 B)False

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

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 are ________.

A(n)________ is an elaborated version of the idea expressed in consumer terms.

When Tide introduces a new fragrance of laundry detergent,some consumers who buy the new fragrance switch from other Tide variants,as opposed to from other brands.The income lost on the other Tide variants is called ________.

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

The traditional system of new-product cocreation with consumers is giving way to a more company-centric approach to product innovation.

A(n)________ strategy to designing new products attaches high importance to incorporating customer preferences in the final design.

A(n)________ loses money when its sales do not cover variable costs.

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

The job of translating target customer requirements into a working prototype is helped by a set of methods known as quality function deployment,which takes the desired customer attributes and turns them into a list of engineering attributes.

One of the reasons new products can fail is________.

The new-product development process starts with the search for ideas.New-product ideas can come from interacting with various groups and using creativity-generating techniques.Identify and define these techniques.

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 number-one success factor for new products is ________.

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 and define these stages.

When prototypes are ready,they must be put through rigorous functional tests and ________ before they enter the marketplace.

Not everyone believes a customer focus helps to create better new products.Why might this be

The more a tested concept resembles the final product or experience,the more dependable concept testing is.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, Satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing with Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Tapping into Global Markets

Managing a Holistic Marketing Organization

Filters

Exam 20: Introducing New Market Offerings

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

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 are ________.

A(n)________ is an elaborated version of the idea expressed in consumer terms.

When Tide introduces a new fragrance of laundry detergent,some consumers who buy the new fragrance switch from other Tide variants,as opposed to from other brands.The income lost on the other Tide variants is called ________.

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

The traditional system of new-product cocreation with consumers is giving way to a more company-centric approach to product innovation.

A(n)________ strategy to designing new products attaches high importance to incorporating customer preferences in the final design.

A(n)________ loses money when its sales do not cover variable costs.

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

The job of translating target customer requirements into a working prototype is helped by a set of methods known as quality function deployment,which takes the desired customer attributes and turns them into a list of engineering attributes.

One of the reasons new products can fail is________.

The new-product development process starts with the search for ideas.New-product ideas can come from interacting with various groups and using creativity-generating techniques.Identify and define these techniques.

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 number-one success factor for new products is ________.

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 and define these stages.

When prototypes are ready,they must be put through rigorous functional tests and ________ before they enter the marketplace.

Not everyone believes a customer focus helps to create better new products.Why might this be

The more a tested concept resembles the final product or experience,the more dependable concept testing is.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, Satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing with Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Tapping into Global Markets

Managing a Holistic Marketing Organization

Filters