Question 1

When John began helping his favorite uncle Burton with his finances,he discovered his uncle was still renting a rotary-dial telephone from the phone company.Uncle Burton had paid thousands of dollars in rental fees over the previous forty years.Uncle Burton is a(n) ______________ in the diffusion of innovation process for telephones.

Accepted Answer

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

Question 2

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)   establishing a completely new market.
D)   the ability to avoid paying pioneers for new product development.
E)   capitalizing on existing consumer preferences.

Question 3

New product development adds value to a firm's products and services through innovation.

Accepted Answer

A) True 
 B)False

Question 4

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 5

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 6

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 7

Which of the following is NOT one of the four product life cycle stages?

Accepted Answer

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

Question 8

________________ is the process by which ideas are transformed into new products and services that will help firms grow.

Accepted Answer

A)   Beta testing
B)   Concept testing
C)   Innovation
D)   Reverse engineering
E)   The product life cycle

Question 9

To determine if a new product is commercially viable,a firm can conduct premarket testing.

Accepted Answer

A) True 
 B)False

Question 10

In many cases,pioneers lose their market lead and initial market share to imitators who

Accepted Answer

A)   capitalize on the pioneers' weaknesses.
B)   create similar products with reduced value to consumers.
C)   utilize alpha-beta testing.
D)   ignore patents and copyrights.
E)   target late maturity consumers.

Question 11

The product life cycle is theoretically ________ shaped with regard to sales and profits.

Accepted Answer

A)   Y
B)   lightning bolt
C)   bell
D)   circle
E)   flat line

Question 12

Before the development of computer-assisted design software,many firms handcrafted ______,wooden or clay models that served as rough physical representations of the new product.

Accepted Answer

A)   premarket tests
B)   blockbusters
C)   prototypes
D)   storyboards
E)   designer models

Question 13

Which of the following would NOT be part of the launch of a new product?

Accepted Answer

A)   Educational efforts for complex or conceptually new products
B)   Technical support staff for technical products
C)   Determining the price for the product
D)   Incentives for distributors
E)   Starting to make preliminary decisions about the target market

Question 14

What is the difference between alpha testing and beta testing?

Accepted Answer

Alpha testing involves determining wheth...

Question 15

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 16

During the introduction stage of a product's life cycle,typical consumers are

Accepted Answer

A)   early adopters.
B)   innovators.
C)   pioneers.
D)   early majority.
E)   laggards.

Question 17

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

Accepted Answer

A)   R&D efforts
B)   Licensing technology
C)   Consumer research
D)   Geodemographic segmentation
E)   Brainstorming

Question 18

Even if they succeed,new-to-the-world products are

Accepted Answer

A)   not always profitable.
B)   not adopted by everyone at the same time.
C)   sometimes copycat brands.
D)   not subject to the law of first movers.
E)   typically very short-lived.

Question 19

When conducting exploratory research for her firm's new Internet anti-piracy software,Dee knows the most important question is

Accepted Answer

A)   how long will it take to bring the software to market.
B)   whether or not respondents would purchase the software if it becomes available.
C)   who will determine the price to be charged.
D)   where the product should be sold.
E)   which computer trade show will be used to introduce the product.

Question 20

Now that the consumer demand is building for Miranda's new organic shampoo,she and her team face a new set of decisions.Which of the following is NOT one of the decision items on the agenda for the team discussion of Place in the marketing mix for a new product launch?

Accepted Answer

A)   How much should be shipped initially to the stores?
B)   Where should the merchandise be stored: at distribution centers or shipped directly to the stores?
C)   Which retailers are chosen to sell the product?
D)   Are the packaging colors working well with the target markets?
E)   Should the manufacturer be involved in reordering decisions?

Exam 12: Developing New Products

Innovators are a critical group of new product adopters because they

Correct Answer
verified

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

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

During the introduction stage of a product's life cycle,typical consumers are

Correct Answer
verified

In many cases,pioneers lose their market lead and initial market share to imitators who

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

Which of the following would NOT be part of the launch of a new product?

Correct Answer
verified

New product development adds value to a firm's products and services through innovation.

Correct Answer
verified

To determine if a new product is commercially viable,a firm can conduct premarket testing.

Correct Answer
verified

Now that the consumer demand is building for Miranda's new organic shampoo,she and her team face a new set of decisions.Which of the following is NOT one of the decision items on the agenda for the team discussion of Place in the marketing mix for a new product launch?

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Before the development of computer-assisted design software,many firms handcrafted ______,wooden or clay models that served as rough physical representations of the new product.

Correct Answer
verified

________________ is the process by which ideas are transformed into new products and services that will help firms grow.

Correct Answer
verified

What is the difference between alpha testing and beta testing?

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

Even if they succeed,new-to-the-world products are

Correct Answer
verified

When conducting exploratory research for her firm's new Internet anti-piracy software,Dee knows the most important question is

Correct Answer
verified

The product life cycle is theoretically ________ shaped with regard to sales and profits.

Correct Answer
verified

Which of the following is NOT one of the four product life cycle stages?

Correct Answer
verified

Exam 12: Developing New Products

Innovators are a critical group of new product adopters because they

Correct AnswerverifiedShow Answer

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

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

During the introduction stage of a product's life cycle,typical consumers are

Correct AnswerverifiedShow Answer

In many cases,pioneers lose their market lead and initial market share to imitators who

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

Which of the following would NOT be part of the launch of a new product?

Correct AnswerverifiedShow Answer

New product development adds value to a firm's products and services through innovation.

Correct AnswerverifiedShow Answer

To determine if a new product is commercially viable,a firm can conduct premarket testing.

Correct AnswerverifiedShow Answer

Now that the consumer demand is building for Miranda's new organic shampoo,she and her team face a new set of decisions.Which of the following is NOT one of the decision items on the agenda for the team discussion of Place in the marketing mix for a new product launch?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Before the development of computer-assisted design software,many firms handcrafted ______,wooden or clay models that served as rough physical representations of the new product.

Correct AnswerverifiedShow Answer

________________ is the process by which ideas are transformed into new products and services that will help firms grow.

Correct AnswerverifiedShow Answer

What is the difference between alpha testing and beta testing?

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

Even if they succeed,new-to-the-world products are

Correct AnswerverifiedShow Answer

When conducting exploratory research for her firm's new Internet anti-piracy software,Dee knows the most important question is

Correct AnswerverifiedShow Answer

The product life cycle is theoretically ________ shaped with regard to sales and profits.

Correct AnswerverifiedShow Answer

Which of the following is NOT one of the four product life cycle stages?

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Answers will vary but should include a p...
View 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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Correct Answer
verified
Alpha testing involves determining wheth...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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