Question 1

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

Accepted Answer

A)   Laggards are a major focus of marketing efforts.
B)   Price competition is intense.
C)   Marketing costs increase as firms defend their market share.
D)   The market may become saturated because nearly all potential customers have adopted the product.
E)   To increase the customer base,firms consider entry into new markets and new market segments.

Question 2

Laura is about to launch a new product: herself! She is running for a local political office.First-time candidates quickly learn the importance of marketing.She has consulted with various experts,tested her campaign themes and messages with focus groups,and now is ready to do a full-scale product launch.Why is her product launch the most critical step? What will she need to do?

Accepted Answer

The product / candidate launch is the mo...

Question 3

Although innovation strategies may not work in the long run,overriding short-term reasons compel firms to introduce new products and services.

Accepted Answer

A) True 
 B)False

Question 4

Ron sells commercial-grade tools to building contractors.Whenever he visits his customers,he looks to see if they are using his tools for other tasks or have modified the tools for some other purpose.These customers are __________,who can provide ideas for new and improved products.

Accepted Answer

A)   laggards
B)   market testers
C)   lead users
D)   reverse engineers
E)   concept testers

Question 5

What is the difference between alpha testing and beta testing?

Accepted Answer

Alpha testing involves determining wheth...

Question 6

Firms can measure the success of a new product by all of the following factors except

Accepted Answer

A)   satisfaction of its technical requirements.
B)   fewer competitors in the market.
C)   satisfactory sales and profits.
D)   customer acceptance.
E)   satisfactory performance.

Question 7

Innovators are a critical group of new product adopters because they

Accepted Answer

A)   are the major source of innovation.
B)   act as reverse engineering consultants.
C)   help with test marketing.
D)   help the product gain market acceptance.
E)   extend the product life cycle.

Question 8

The maturity phase of the product life cycle is characterized by greatly reduced competition.

Accepted Answer

A) True 
 B)False

Question 9

Describe your actions (or someone you know)in a situation where you (or they)were an innovator in the diffusion of innovation curve.

Accepted Answer

Answers will vary,but should include a d...

Question 10

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

Accepted Answer

A)   reducing the 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 with short product life cycles where sales come mostly from new products

Question 11

Fashion trends tend to experience short product life cycles.

Accepted Answer

A) True 
 B)False

Question 12

Successful first movers create a market or a product category.They often benefit from being readily recognizable to consumers and

Accepted Answer

A)   not having to pay advertising expenses.
B)   using prototypes to dominate the market.
C)   not needing to do test marketing.
D)   establishing an early market share lead.
E)   motivating laggards to buy their products.

Question 13

Which of the following is least likely to be a source of ideas for new products?

Accepted Answer

A)   R&D efforts
B)   licensing agreements
C)   consumer research
D)   geodemographic segmentation
E)   brainstorming

Question 14

Think back to a time when you have said,"This is great idea.How come nobody thought of this before?" Assuming no one has thought of it before,what would be the first steps to take to develop a new product idea?

Accepted Answer

Student answers will vary considerably,b...

Question 15

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 16

One of the potential benefits to a firm of introducing new-to-the-world products or services is

Accepted Answer

A)   cost savings.
B)   late majority marketing.
C)   establishment of a completely new market.
D)   the ability to avoid paying pioneers for new product development.
E)   the ability to capitalize on existing consumer preferences.

Question 17

The __________ diffusion of innovation group is the last large group of consumers to adopt a new product or service.

Accepted Answer

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

Question 18

When conducting exploratory concept testing for her firm's new Internet antipiracy software,which is the most important question that Dee should ask?

Accepted Answer

A)   How long will it take to bring the software to market?
B)   Will respondents purchase the software if it becomes available?
C)   Who will determine the price to be charged?
D)   Where should the product be sold?
E)   Which computer trade show will be used to introduce the product?

Question 19

Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from

Accepted Answer

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

Question 20

Using the diffusion of innovation theory,what factors contributed to the rapid adoption and success of Amazon.com?

Accepted Answer

Some answers may vary,but will likely in...

Exam 12: Developing New Products

Although innovation strategies may not work in the long run,overriding short-term reasons compel firms to introduce new products and services.

Correct Answer
verified

Which of the following is the correct sequence of new product adopters in the diffusion of innovation curve?

Correct Answer
verified

Successful first movers create a market or a product category.They often benefit from being readily recognizable to consumers and

Correct Answer
verified

Ron sells commercial-grade tools to building contractors.Whenever he visits his customers,he looks to see if they are using his tools for other tasks or have modified the tools for some other purpose.These customers are __________,who can provide ideas for new and improved products.

Correct Answer
verified

Which of the following is least likely to be a source of ideas for new products?

Correct Answer
verified

Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from

Correct Answer
verified

The maturity phase of the product life cycle is characterized by greatly reduced competition.

Correct Answer
verified

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

Correct Answer
verified

When conducting exploratory concept testing for her firm's new Internet antipiracy software,which is the most important question that Dee should ask?

Correct Answer
verified

One of the potential benefits to a firm of introducing new-to-the-world products or services is

Correct Answer
verified

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

Correct Answer
verified

Describe your actions (or someone you know)in a situation where you (or they)were an innovator in the diffusion of innovation curve.

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

Correct Answer
verified
The product / candidate launch is the mo...
View Answer

Firms can measure the success of a new product by all of the following factors except

Correct Answer
verified

Using the diffusion of innovation theory,what factors contributed to the rapid adoption and success of Amazon.com?

Correct Answer
verified
Some answers may vary,but will likely in...
View Answer

Fashion trends tend to experience short product life cycles.

Correct Answer
verified

The __________ diffusion of innovation group is the last large group of consumers to adopt a new product or service.

Correct Answer
verified

Think back to a time when you have said,"This is great idea.How come nobody thought of this before?" Assuming no one has thought of it before,what would be the first steps to take to develop a new product idea?

Correct Answer
verified
Student answers will vary considerably,b...
View Answer

Innovators are a critical group of new product adopters because they

Correct Answer
verified

What is the difference between alpha testing and beta testing?

Correct Answer
verified
Alpha testing involves determining wheth...
View Answer

Exam 12: Developing New Products

Although innovation strategies may not work in the long run,overriding short-term reasons compel firms to introduce new products and services.

Correct AnswerverifiedShow Answer

Which of the following is the correct sequence of new product adopters in the diffusion of innovation curve?

Correct AnswerverifiedShow Answer

Successful first movers create a market or a product category.They often benefit from being readily recognizable to consumers and

Correct AnswerverifiedShow Answer

Ron sells commercial-grade tools to building contractors.Whenever he visits his customers,he looks to see if they are using his tools for other tasks or have modified the tools for some other purpose.These customers are __________,who can provide ideas for new and improved products.

Correct AnswerverifiedShow Answer

Which of the following is least likely to be a source of ideas for new products?

Correct AnswerverifiedShow Answer

Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from

Correct AnswerverifiedShow Answer

The maturity phase of the product life cycle is characterized by greatly reduced competition.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When conducting exploratory concept testing for her firm's new Internet antipiracy software,which is the most important question that Dee should ask?

Correct AnswerverifiedShow Answer

One of the potential benefits to a firm of introducing new-to-the-world products or services is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Describe your actions (or someone you know)in a situation where you (or they)were an innovator in the diffusion of innovation curve.

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

Correct AnswerverifiedThe product / candidate launch is the mo...View AnswerShow Answer

Firms can measure the success of a new product by all of the following factors except

Correct AnswerverifiedShow Answer

Using the diffusion of innovation theory,what factors contributed to the rapid adoption and success of Amazon.com?

Correct AnswerverifiedSome answers may vary,but will likely in...View AnswerShow Answer

Fashion trends tend to experience short product life cycles.

Correct AnswerverifiedShow Answer

The __________ diffusion of innovation group is the last large group of consumers to adopt a new product or service.

Correct AnswerverifiedShow Answer

Think back to a time when you have said,"This is great idea.How come nobody thought of this before?" Assuming no one has thought of it before,what would be the first steps to take to develop a new product idea?

Correct AnswerverifiedStudent answers will vary considerably,b...View AnswerShow Answer

Innovators are a critical group of new product adopters because they

Correct AnswerverifiedShow Answer

What is the difference between alpha testing and beta testing?

Correct AnswerverifiedAlpha testing involves determining wheth...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified
The product / candidate launch is the mo...
View Answer

Correct Answer
verified

Correct Answer
verified
Some answers may vary,but will likely in...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Student answers will vary considerably,b...
View Answer

Correct Answer
verified

Correct Answer
verified
Alpha testing involves determining wheth...
View Answer