Question 1

How would you go about performing a risk analysis to estimate your company's profit on a potential new product

Accepted Answer

In a risk analysis,we obtain three estim

Question 2

In sales-wave research,consumers who initially try the product at no cost are reoffered the product,or a competitor's product,at slightly reduced prices.

Accepted Answer

A) True 
 B)False

Question 3

A product idea is a possible product the company might offer to the market.

Accepted Answer

A) True 
 B)False

Question 4

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)  marketing strategy 
B)  marketing research 
C)  gap level 
D)  conjoint analysis 
E)  purchase intentions 
A)  marketing strategy 
B)  marketing research 
C)  gap level 
D)  conjoint analysis 
E)  purchase intentions

Question 5

When commercializing a new product,market-entry timing is critical.Your firm has the distinction of being the first to market with your new product.As the first entrant in the market,your company can enjoy ________.

Accepted Answer

A)  market attractiveness 
B)  first mover advantages 
C)  parallel entry 
D)  late entry 
E)  brand awareness 
A)  market attractiveness 
B)  first mover advantages 
C)  parallel entry 
D)  late entry 
E)  brand awareness

Question 6

What is the open innovation movement and how has it affected the way companies go about identifying new ideas

Accepted Answer

The open innovation movement is the shif

Question 7

Not all companies undertake market testing.What factors influence the amount of market testing a product receives

Accepted Answer

The amount of market testing is influenc

Question 8

To estimate replacement sales,management must research the product's ________-that is,the number of units that fail in year one,two,three,and so on.

Accepted Answer

A)  survival-age distribution 
B)  distribution 
C)  obsolescence 
D)  product failure 
E)  product-performance usage 
A)  survival-age distribution 
B)  distribution 
C)  obsolescence 
D)  product failure 
E)  product-performance usage

Question 9

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

Accepted Answer

The four variables a

Question 10

When the major car companies added drink holders to the design of their cars,they were practicing ________,where the firm attaches high importance to incorporating customer preferences in the final designs.

Accepted Answer

A)  listening skills 
B)  marketing applications 
C)  implementation of customer requests 
D)  customer-driven engineering 
E)  dual adaptation 
A)  listening skills 
B)  marketing applications 
C)  implementation of customer requests 
D)  customer-driven engineering 
E)  dual adaptation

Question 11

Newer companies create ________ that are cheaper and more likely to alter the competitive space.Established companies can be slow to react or invest in these technologies because they threaten their investment.

Accepted Answer

A)  new products 
B)  newer markets 
C)  newer channels of distribution 
D)  disruptive technologies 
E)  none of the above 
A)  new products 
B)  newer markets 
C)  newer channels of distribution 
D)  disruptive technologies 
E)  none of the above

Question 12

Your company has brought in 25 consumers identified as innovators and/or heavy users of its products and is observing them as they use your new product.This test is intended to expose unanticipated problems of safety and servicing and to alert you to customer training and servicing requirements.In marketing terms,this is called ________.

Accepted Answer

A)  design testing 
B)  alpha testing 
C)  product testing 
D)  regional testing 
E)  beta testing 
A)  design testing 
B)  alpha testing 
C)  product testing 
D)  regional testing 
E)  beta testing

Question 13

Advantages of ________ include that it can be implemented quickly,conducted with a fair amount of security,and carried out without final packaging and advertising.

Accepted Answer

A)  sales-wave research 
B)  simulated test marketing 
C)  controlled test marketing 
D)  actual test markets 
E)  none of the above 
A)  sales-wave research 
B)  simulated test marketing 
C)  controlled test marketing 
D)  actual test markets 
E)  none of the above

Question 14

The term personal influence is the effect one person has on another's attitude or purchase probability.

Accepted Answer

A) True 
 B)False

Question 15

Conjoint analysis 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 16

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

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 17

In an economy of change,continuous innovation is necessary.Most companies rarely innovate,some innovate occasionally,and a few innovate continuously.Comment on why a company should continuously develop new products.

Accepted Answer

Companies that fail to develop new produ

Question 18

A ________ occurs when the company dismisses a good idea.

Accepted Answer

A)  product failure 
B)  brand failure 
C)  dual error 
D)  DROP-error 
E)  GO-error 
A)  product failure 
B)  brand failure 
C)  dual error 
D)  DROP-error 
E)  GO-error

Question 19

High-investment-high-risk products,where the chance of failure is high,do not necessarily need to be market tested.

Accepted Answer

A) True 
 B)False

Question 20

A ________ occurs when the company permits a poor idea to move into development and commercialization.

Accepted Answer

A)  dual error 
B)  brand failure 
C)  GO-error 
D)  DROP-error 
E)  product error 
A)  dual error 
B)  brand failure 
C)  GO-error 
D)  DROP-error 
E)  product error

Exam 20: Introducing New Market Offerings

How would you go about performing a risk analysis to estimate your company's profit on a potential new product

In sales-wave research,consumers who initially try the product at no cost are reoffered the product,or a competitor's product,at slightly reduced prices.

A product idea is a possible product the company might offer to the 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.

When commercializing a new product,market-entry timing is critical.Your firm has the distinction of being the first to market with your new product.As the first entrant in the market,your company can enjoy ________.

What is the open innovation movement and how has it affected the way companies go about identifying new ideas

Not all companies undertake market testing.What factors influence the amount of market testing a product receives

To estimate replacement sales,management must research the product's ________-that is,the number of units that fail in year one,two,three,and so on.

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

When the major car companies added drink holders to the design of their cars,they were practicing ________,where the firm attaches high importance to incorporating customer preferences in the final designs.

Newer companies create ________ that are cheaper and more likely to alter the competitive space.Established companies can be slow to react or invest in these technologies because they threaten their investment.

Advantages of ________ include that it can be implemented quickly,conducted with a fair amount of security,and carried out without final packaging and advertising.

The term personal influence is the effect one person has on another's attitude or purchase probability.

Conjoint analysis is a method for deriving the utility values that consumers attach to varying levels of a product's attributes.

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

In an economy of change,continuous innovation is necessary.Most companies rarely innovate,some innovate occasionally,and a few innovate continuously.Comment on why a company should continuously develop new products.

A ________ occurs when the company dismisses a good idea.

High-investment-high-risk products,where the chance of failure is high,do not necessarily need to be market tested.

A ________ occurs when the company permits a poor idea to move into development and commercialization.

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

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