Question 1

Companies that develop customized-business software often work closely with their customers when installing their products.This close contact often creates new product ideas through:

Accepted Answer

A)  reverse engineering.
B)  licensing technology.
C)  listening to customers.
D)  R&D consortia.
E)  clinical trials.

Question 2

Test marketing refers to customers who modify existing products according to their own ideas to suit their specific needs.

Accepted Answer

A) True 
 B)False

Question 3

Describe a product that is in the early majority stage of the new product diffusion curve.

Accepted Answer

Answers will vary but should include a p...

Question 4

Beverly is assessing the results of a new product launch of a series of e-books for her bookstore.When evaluating the results,Beverly will likely consider all of the following EXCEPT:

Accepted Answer

A)  why it took her so long to consider the new product line.
B)  whether or not the e-books are generating the expected level of profit.
C)  whether or not the e-books are generating the expected level of sales.
D)  whether or not her customers are interested in the new books.
E)  whether or not the e-books function as expected.

Question 5

The diffusion of innovation theory focuses on:

Accepted Answer

A)  the geographic boundaries of innovation.
B)  the relationship between pioneer brands and imitators.
C)  the psychological traits of innovators.
D)  the rate at which consumers are likely to adopt a new product or service.
E)  all of these.

Question 6

Respond to the statement,"Create or die," from a new product innovation perspective.

Accepted Answer

While innovation may not help a firm in ...

Question 7

By the time BMW got into the mini-SUV market,sales had leveled off and were even starting to decline.BMW had to target its marketing efforts toward the _________________ diffusion of innovation group.

Accepted Answer

A)  innovator
B)  laggard
C)  late majority
D)  early majority
E)  early adopter

Question 8

In approximately 2006,hybrid cars moved from the early adopter to the early majority stage.What did this mean for marketers of hybrid cars?

Accepted Answer

It means sales are taking off because ea...

Question 9

Inkjet personal computer printers were a big improvement over the dot matrix printers they replaced.Inkjet printers gained rapid acceptance in the marketplace primarily because of their:

Accepted Answer

A)  relative advantage.
B)  compatibility.
C)  observability.
D)  complexity.
E)  trialability.

Question 10

The process by which the use of a new product or service spreads throughout a market group is referred to as:

Accepted Answer

A)  new product introduction.
B)  lead user dispersion.
C)  diffusion of innovation.
D)  the product life cycle.
E)  product development diffusion.

Question 11

When microwaves were new,they often cost over $300,were huge,and full of numerous settings and options.Brenda and Bart waited,concerned about potential health hazards and wishing for more choices in the market.By the time they purchased a microwave,sales had leveled off and prices had declined significantly.Brenda and Bart were part of the ____________________ diffusion of innovation group.

Accepted Answer

A)  innovator
B)  laggard
C)  late majority
D)  early majority
E)  early adopter

Question 12

Which of the following was NOT a new-to the-world product or service when it was introduced?

Accepted Answer

A)  Wi-Fi networking
B)  The Mercedes mini sport utility vehicle,a smaller version of its larger SUVs
C)  Microsoft's Windows operating system
D)  The MP3 player
E)  Flat screen TVs

Question 13

Which of the following is NOT one of the benefits to a firm of new product development?

Accepted Answer

A)  Reduced costs of production.
B)  Satisfying the changing needs of current and new customers.
C)  Avoiding market saturation from products that have been on the market for a long time.
D)  Creating diversification and reducing risk.
E)  Keeping up in a market where sales come mostly from new products.

Question 14

Golf ball manufacturers use "Iron Mike," a machine that swings a golf club at a constant velocity,to test the distance for new golf ball designs.When using Iron Mike,the manufacturers are engaged in:

Accepted Answer

A)  concept testing.
B)  market testing.
C)  premarket tests.
D)  product development.
E)  alpha testing.

Question 15

Which of the following is not a stage in the product life cycle?

Accepted Answer

A)  Introduction
B)  Growth
C)  Evaluation
D)  Maturity
E)  Decline

Question 16

Which of the following is the correct sequence of new product adopters in the Diffusion of Innovation Curve?

Accepted Answer

A)  Innovators,Early adopters,Early majority,Late majority,Laggards
B)  Early adopters,Early majority,Innovators,Late majority,Laggards
C)  Innovators,Early majority,Early adopters,Innovators,Late majority,Laggards
D)  Early majority,Late majority,Early adopters,Innovators,Laggards
E)  Innovators,Late majority,Early adopters,Early majority,Laggards

Question 17

Computer game companies constantly monitor computer game-related blogs keeping track of the latest hot products,because they know that their customers crave the "latest and greatest" games.They use this information to create new products that primarily provide the benefit of:

Accepted Answer

A)  keeping up in a market where sales come mostly from new products.
B)  satisfying the changing needs of former customers.
C)  avoiding market penetration from products that have been on the market for a long time.
D)  creating diversification and reducing risk.
E)  all of these.

Question 18

___________________ involves taking apart a product,analyzing it,and creating an improved product that does not infringe on the competitor's patents.

Accepted Answer

A)  Spinning
B)  Reverse engineering
C)  Selective dissection
D)  Redistribution
E)  Creative destruction

Question 19

If the _____________ diffusion of innovation group is relatively small,the number of people who ultimately adopt the innovation likely will also be small.

Accepted Answer

A)  innovator
B)  laggard
C)  late majority
D)  early majority
E)  early adopter

Question 20

R&D consortia often include:

Accepted Answer

A)  university laboratories.
B)  government agencies.
C)  non-profit organizations.
D)  competing firms in an industry.
E)  all of these.

Exam 11: Developing New Products

The diffusion of innovation theory focuses on:

Correct Answer
verified

The process by which the use of a new product or service spreads throughout a market group is referred to as:

Correct Answer
verified

In approximately 2006,hybrid cars moved from the early adopter to the early majority stage.What did this mean for marketers of hybrid cars?

Correct Answer
verified
It means sales are taking off because ea...
View Answer

By the time BMW got into the mini-SUV market,sales had leveled off and were even starting to decline.BMW had to target its marketing efforts toward the _________________ diffusion of innovation group.

Correct Answer
verified

Respond to the statement,"Create or die," from a new product innovation perspective.

Correct Answer
verified
While innovation may not help a firm in ...
View Answer

___________________ involves taking apart a product,analyzing it,and creating an improved product that does not infringe on the competitor's patents.

Correct Answer
verified

Describe a product that is in the early majority stage of the new product diffusion curve.

Correct Answer
verified
Answers will vary but should include a p...
View Answer

R&D consortia often include:

Correct Answer
verified

Computer game companies constantly monitor computer game-related blogs keeping track of the latest hot products,because they know that their customers crave the "latest and greatest" games.They use this information to create new products that primarily provide the benefit of:

Correct Answer
verified

Which of the following is NOT one of the benefits to a firm of new product development?

Correct Answer
verified

Which of the following was NOT a new-to the-world product or service when it was introduced?

Correct Answer
verified

Which of the following is not a stage in the product life cycle?

Correct Answer
verified

Companies that develop customized-business software often work closely with their customers when installing their products.This close contact often creates new product ideas through:

Correct Answer
verified

Which of the following is the correct sequence of new product adopters in the Diffusion of Innovation Curve?

Correct Answer
verified

Beverly is assessing the results of a new product launch of a series of e-books for her bookstore.When evaluating the results,Beverly will likely consider all of the following EXCEPT:

Correct Answer
verified

Correct Answer
verified

Golf ball manufacturers use "Iron Mike," a machine that swings a golf club at a constant velocity,to test the distance for new golf ball designs.When using Iron Mike,the manufacturers are engaged in:

Correct Answer
verified

If the _____________ diffusion of innovation group is relatively small,the number of people who ultimately adopt the innovation likely will also be small.

Correct Answer
verified

Test marketing refers to customers who modify existing products according to their own ideas to suit their specific needs.

Correct Answer
verified

Inkjet personal computer printers were a big improvement over the dot matrix printers they replaced.Inkjet printers gained rapid acceptance in the marketplace primarily because of their:

Correct Answer
verified

Exam 11: Developing New Products

The diffusion of innovation theory focuses on:

Correct AnswerverifiedShow Answer

The process by which the use of a new product or service spreads throughout a market group is referred to as:

Correct AnswerverifiedShow Answer

In approximately 2006,hybrid cars moved from the early adopter to the early majority stage.What did this mean for marketers of hybrid cars?

Correct AnswerverifiedIt means sales are taking off because ea...View AnswerShow Answer

By the time BMW got into the mini-SUV market,sales had leveled off and were even starting to decline.BMW had to target its marketing efforts toward the _________________ diffusion of innovation group.

Correct AnswerverifiedShow Answer

Respond to the statement,"Create or die," from a new product innovation perspective.

Correct AnswerverifiedWhile innovation may not help a firm in ...View AnswerShow Answer

___________________ involves taking apart a product,analyzing it,and creating an improved product that does not infringe on the competitor's patents.

Correct AnswerverifiedShow Answer

Describe a product that is in the early majority stage of the new product diffusion curve.

Correct AnswerverifiedAnswers will vary but should include a p...View AnswerShow Answer

R&D consortia often include:

Correct AnswerverifiedShow Answer

Computer game companies constantly monitor computer game-related blogs keeping track of the latest hot products,because they know that their customers crave the "latest and greatest" games.They use this information to create new products that primarily provide the benefit of:

Correct AnswerverifiedShow Answer

Which of the following is NOT one of the benefits to a firm of new product development?

Correct AnswerverifiedShow Answer

Which of the following was NOT a new-to the-world product or service when it was introduced?

Correct AnswerverifiedShow Answer

Which of the following is not a stage in the product life cycle?

Correct AnswerverifiedShow Answer

Companies that develop customized-business software often work closely with their customers when installing their products.This close contact often creates new product ideas through:

Correct AnswerverifiedShow Answer

Which of the following is the correct sequence of new product adopters in the Diffusion of Innovation Curve?

Correct AnswerverifiedShow Answer

Beverly is assessing the results of a new product launch of a series of e-books for her bookstore.When evaluating the results,Beverly will likely consider all of the following EXCEPT:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Golf ball manufacturers use "Iron Mike," a machine that swings a golf club at a constant velocity,to test the distance for new golf ball designs.When using Iron Mike,the manufacturers are engaged in:

Correct AnswerverifiedShow Answer

If the _____________ diffusion of innovation group is relatively small,the number of people who ultimately adopt the innovation likely will also be small.

Correct AnswerverifiedShow Answer

Test marketing refers to customers who modify existing products according to their own ideas to suit their specific needs.

Correct AnswerverifiedShow Answer

Inkjet personal computer printers were a big improvement over the dot matrix printers they replaced.Inkjet printers gained rapid acceptance in the marketplace primarily because of their:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
It means sales are taking off because ea...
View Answer

Correct Answer
verified

Correct Answer
verified
While innovation may not help a firm in ...
View Answer

Correct Answer
verified

Correct Answer
verified
Answers will vary but should include a p...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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