Exam 8: Product Strategy and New Product Development

Estimating total demand is a function of three separate purchase situations, which are ________ purchases.

A go-to-market mistake happens when a good idea is prematurely eliminated during the screening process.

In the context of product characteristics, companies translate the essential benefit into physical, tangible elements known as the ________ product.

When new-to-the-world products are better, faster versions of existing products that target, for the most part, existing customers, then these products are described as ________.

The three major activities in new-product development are to (1) generate new ideas, (2) screen and evaluate ideas, and (3) define and test product concept.

During which stage do consumers purchase a product with the intent of becoming a dependable user?

Explain the four categories of consumer goods and give an example of each.

Different target markets will view the same product in completely different ways.

________ goods are unique purchases made based on a defining characteristic for the consumer, which might be a real or perceived product feature, such as Apple iPhone's easy user interface.

The product life cycle (PLC) defines the life of a product in four basic stages, which include ________.

The introduction phase of the product life cycle for an industry is usually characterized by ________.

An individual moves through stages before adopting a product. During the awareness stage, consumers ________.

An important issue for consumers is conformance, which is the product's ability to ________.

Desktop computers, cell phones, and tablet computers are examples of new-to-the-world products considered disruptive innovations.

Among the five groups of adopters, product avoiders who want to evade adoption as long as possible are known as ________.

During the evaluation stage of the product adoption process, consumers ________.

Early adopters are product watchers who seek out new products but are price-sensitive.

Unsought goods are characterized as being the kinds of goods that consumers ________.

Internal sources of generating product ideas include ________.

One of the disadvantages of using style as a product discriminator is that consumer tastes change over time and what is considered stylish can quickly lose its appeal.