Question 1

New-to-the- world products are ________.

Accepted Answer

A)  new products that create an entirely new market 
B)  new products that allow a company to enter an established market 
C)  new products that supplement established product lines 
D)  new products that provide greater perceived value and replace existing products 
E)  existing products that are targeted to new markets or market segments 
A)  new products that create an entirely new market 
B)  new products that allow a company to enter an established market 
C)  new products that supplement established product lines 
D)  new products that provide greater perceived value and replace existing products 
E)  existing products that are targeted to new markets or market segments

Question 2

The amount of market testing may be severely reduced if the company is under great time pressure because the season is just starting or because competitors are about to launch competitive brands.

Accepted Answer

A) True 
 B)False

Question 3

One of the characteristics that affects the adoption of a product is compatibility,which is defined as the degree to which the innovation matches the values and experiences of the individuals.

Accepted Answer

A) True 
 B)False

Question 4

Customer needs and wants are the logical place to start the search for new product ideas.Identify four ways a company can draw new ideas from its customers.

Accepted Answer

Students may identify any four of the fo

Question 5

When the new-product prototype is ready,it must be put through rigorous functional tests and customer tests.Consumer testing can take several forms,from bringing consumers into a laboratory to giving them samples to use in their homes.Consumer preferences can be measured in several ways.List the three most common ways that consumer preference is measured.

Accepted Answer

(1)The rank-order method asks the consum

Question 6

In choosing rollout markets,the major criteria are market potential,the company's local reputation,the cost of filling the pipeline,the cost of communication media,the influence of the area on other areas,and competitive penetration.

Accepted Answer

A) True 
 B)False

Question 7

A(n)________ is any good,service,or idea that is perceived as new,no matter how long its history.

Accepted Answer

A)  product 
B)  innovation 
C)  new idea 
D)  creative product 
E)  none of the above 
A)  product 
B)  innovation 
C)  new idea 
D)  creative product 
E)  none of the above

Question 8

In the past,creating physical prototypes was costly and time consuming,but computer-aided design and manufacturing programs have changed that.Today,firms can use ________ to design products on a computer,and then produce rough models of each.

Accepted Answer

A)  computer-aided design 
B)  rapid prototyping 
C)  model making 
D)  perceived reality 
E)  none of the above 
A)  computer-aided design 
B)  rapid prototyping 
C)  model making 
D)  perceived reality 
E)  none of the above

Question 9

Several factors hinder new-product development today,including ________-when a new product is successful,rivals are quick to copy it.

Accepted Answer

A)  high cost of development 
B)  fragmented markets 
C)  a shortage of important ideas in certain areas 
D)  social and governmental constraints 
E)  shorter product life cycles 
A)  high cost of development 
B)  fragmented markets 
C)  a shortage of important ideas in certain areas 
D)  social and governmental constraints 
E)  shorter product life cycles

Question 10

SuperToy Co.just came out with a new remote controlled motorcycle,with a special battery pack that is purchased separately.When assessing the cash flows associated with the new toy,income from the purchase of the battery pack is considered ________.

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 11

The amount of market testing that a new product undergoes is influenced by ________.

Accepted Answer

A)  investment cost 
B)  investment risk 
C)  time pressure 
D)  research cost 
E)  all of the above 
A)  investment cost 
B)  investment risk 
C)  time pressure 
D)  research cost 
E)  all of the above

Question 12

The term "relative advantage" describes the degree to which the innovation appears superior to existing products in the marketplace.

Accepted Answer

A) True 
 B)False

Question 13

Companies that fail to develop new products are putting themselves at risk.Explain why this is true.

Accepted Answer

Their existing products are vu

Question 14

A singular customer focus always helps to create better new products.

Accepted Answer

A) True 
 B)False

Question 15

Truly innovative firms must strongly condemn and punish failure within their product development organizations.

Accepted Answer

A) True 
 B)False

Question 16

Five characteristics influence the rate of adoption of an innovation.One of these is ________.

Accepted Answer

A)  marketing expertise 
B)  relative advantage 
C)  packaging 
D)  government regulations 
E)  all of the above 
A)  marketing expertise 
B)  relative advantage 
C)  packaging 
D)  government regulations 
E)  all of the above

Question 17

Your father-in-law still refuses to buy a DVD player.His rationale is that he still has a BetaMax VCR recorder in the basement that represents old technology.You inform him that videotape is an outdated technology and soon their will be no video tapes for rental or purchase.Based upon the factors influencing the adoption process,your father-in-law can be best described as a(n)________.

Accepted Answer

A)  innovator 
B)  early adopters 
C)  member of the early majority 
D)  member of the late majority 
E)  laggard 
A)  innovator 
B)  early adopters 
C)  member of the early majority 
D)  member of the late majority 
E)  laggard

Question 18

Most established companies focus on ________ when it comes to innovation.

Accepted Answer

A)  incremental innovation 
B)  continuous innovation 
C)  everyday innovation 
D)  demand innovation 
E)  competitive innovation 
A)  incremental innovation 
B)  continuous innovation 
C)  everyday innovation 
D)  demand innovation 
E)  competitive innovation

Question 19

Increasingly,new-product ideas arise from ________ that combines two product concepts or ideas to create a new offering,such as cereal bars,which combine cereal and snacking.

Accepted Answer

A)  reverse assumption analysis 
B)  lateral marketing 
C)  attribute listing 
D)  forced relationships 
E)  morphological analysis 
A)  reverse assumption analysis 
B)  lateral marketing 
C)  attribute listing 
D)  forced relationships 
E)  morphological analysis

Question 20

The Apple iPod has been a new-product success story the past few years.One of the reasons that the adoption process for this product was so short was due to the product's ease of use.In marketing terminology,what term best describes the product's ease of use

Accepted Answer

The "ease of use" is best expl

New-to-the- world products are ________.

The amount of market testing may be severely reduced if the company is under great time pressure because the season is just starting or because competitors are about to launch competitive brands.

One of the characteristics that affects the adoption of a product is compatibility,which is defined as the degree to which the innovation matches the values and experiences of the individuals.

Customer needs and wants are the logical place to start the search for new product ideas.Identify four ways a company can draw new ideas from its customers.

In choosing rollout markets,the major criteria are market potential,the company's local reputation,the cost of filling the pipeline,the cost of communication media,the influence of the area on other areas,and competitive penetration.

A(n)________ is any good,service,or idea that is perceived as new,no matter how long its history.

In the past,creating physical prototypes was costly and time consuming,but computer-aided design and manufacturing programs have changed that.Today,firms can use ________ to design products on a computer,and then produce rough models of each.

Several factors hinder new-product development today,including ________-when a new product is successful,rivals are quick to copy it.

SuperToy Co.just came out with a new remote controlled motorcycle,with a special battery pack that is purchased separately.When assessing the cash flows associated with the new toy,income from the purchase of the battery pack is considered ________.

The amount of market testing that a new product undergoes is influenced by ________.

The term "relative advantage" describes the degree to which the innovation appears superior to existing products in the marketplace.

Companies that fail to develop new products are putting themselves at risk.Explain why this is true.

A singular customer focus always helps to create better new products.

Truly innovative firms must strongly condemn and punish failure within their product development organizations.

Five characteristics influence the rate of adoption of an innovation.One of these is ________.

Most established companies focus on ________ when it comes to innovation.

Increasingly,new-product ideas arise from ________ that combines two product concepts or ideas to create a new offering,such as cereal bars,which combine cereal and snacking.

The Apple iPod has been a new-product success story the past few years.One of the reasons that the adoption process for this product was so short was due to the product's ease of use.In marketing terminology,what term best describes the product's ease of use

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

New-to-the- world products are ________.

The amount of market testing may be severely reduced if the company is under great time pressure because the season is just starting or because competitors are about to launch competitive brands.

One of the characteristics that affects the adoption of a product is compatibility,which is defined as the degree to which the innovation matches the values and experiences of the individuals.

Customer needs and wants are the logical place to start the search for new product ideas.Identify four ways a company can draw new ideas from its customers.

In choosing rollout markets,the major criteria are market potential,the company's local reputation,the cost of filling the pipeline,the cost of communication media,the influence of the area on other areas,and competitive penetration.

A(n)________ is any good,service,or idea that is perceived as new,no matter how long its history.

In the past,creating physical prototypes was costly and time consuming,but computer-aided design and manufacturing programs have changed that.Today,firms can use ________ to design products on a computer,and then produce rough models of each.

Several factors hinder new-product development today,including ________-when a new product is successful,rivals are quick to copy it.

SuperToy Co.just came out with a new remote controlled motorcycle,with a special battery pack that is purchased separately.When assessing the cash flows associated with the new toy,income from the purchase of the battery pack is considered ________.

The amount of market testing that a new product undergoes is influenced by ________.

The term "relative advantage" describes the degree to which the innovation appears superior to existing products in the marketplace.

Companies that fail to develop new products are putting themselves at risk.Explain why this is true.

A singular customer focus always helps to create better new products.

Truly innovative firms must strongly condemn and punish failure within their product development organizations.

Five characteristics influence the rate of adoption of an innovation.One of these is ________.

Most established companies focus on ________ when it comes to innovation.

Increasingly,new-product ideas arise from ________ that combines two product concepts or ideas to create a new offering,such as cereal bars,which combine cereal and snacking.

The Apple iPod has been a new-product success story the past few years.One of the reasons that the adoption process for this product was so short was due to the product's ease of use.In marketing terminology,what term best describes the product's ease of use

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