Question 1

Many restaurants offer daily specials,appetizers,entrees,and desserts not listed on their standard menu.These daily specials primarily provide the new product benefit of

Accepted Answer

A)   keeping up in a market where sales come mostly from new products.
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)   reduction in cost of ingredients.F) A) and B)
G) B) and D)

Question 2

During the __________ stage of the product life cycle,sales peak and profits begin to decline as competition becomes intense.

Accepted Answer

A)   introduction
B)   leveling
C)   maturity
D)   growth
E)   declineF) B) and D)
G) A) and D)

Question 3

For new product marketers,early adopters are important because they tend to be

Accepted Answer

A)   few in number.
B)   the first to adopt a new product.
C)   opinion leaders.
D)   fond of prototypes.
E)   alpha testing enthusiasts.F) A) and B)
G) D) and E)

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)   if the e-books are generating the expected level of profit.
C)   if the e-books are generating the expected level of sales.
D)   if her customers are interested in the new books.
E)   if the e-books function as expected.F) C) and D)
G) A) and B)

Question 5

In one test before product launch,customers try a sample product and are then surveyed to understand whether or not they would buy / use the product again.This is known as

Accepted Answer

A)   premarket testing.
B)   market testing.
C)   alpha testing.
D)   concept testing.
E)   prelaunch testing.F) A) and B)
G) C) and D)

Question 6

A(n) __________ is a fee paid by manufacturers to get new products into stores or to gain more or better shelf space for products.

Accepted Answer

A)   facilitating payment
B)   introductory price promotion
C)   slotting allowance
D)   stocking premium
E)   placeholderF) B) and E)
G) All of the above

Question 7

__________ are special incentives offering reduced prices for a limited time,offered to retailers to get them to try a new product.

Accepted Answer

A)   Loss leaders
B)   Push prices
C)   Market skimming incentives
D)   Introductory price promotions
E)   Distribution rebatesF) B) and C)
G) A) and B)

Question 8

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.F) C) and E)
G) A) and E)

Question 9

The __________ is a specific price at which manufacturers encourage retailers to sell a product.

Accepted Answer

A)   key price point
B)   slotting fee
C)   introductory price
D)   retail margin
E)   manufacturer's suggested retail priceF) A) and E)
G) D) and E)

Question 10

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

Accepted Answer

A)   introduction
B)   stagnation
C)   maturity
D)   growth
E)   declineF) A) and E)
G) C) and D)

Question 11

In the diffusion of innovation process,innovators enjoy taking risks and are regarded as highly knowledgeable.Marketers want to identify innovators because

Accepted Answer

A)   they prefer products from established market leaders.
B)   other consumers defer to their judgment,creating the opportunity for word-of-mouth referrals.
C)   they are especially price conscious.
D)   they are easily influenced by reminder advertising.
E)   they encourage competitors to enter the market.F) A) and C)
G) B) and E)

Question 12

Brian is trying to sell a new line of ultrasound imaging equipment.Unlike existing technology,these machines are compact,creating the potential for general practice physicians to have and use them in their offices.Brian is trying to identify innovators in his market,knowing these customers will most likely

Accepted Answer

A)   spread positive word of mouth to other physicians.
B)   buy one for each office in their practices.
C)   reposition his products.
D)   create demand among the late majority.
E)   not need any service or support when using the product.F) All of the above
G) D) and E)

Question 13

Why are innovators important to marketers?

Accepted Answer

Innovators are crucial to the success of any new product or service because they help the product gain market acceptance.Through talking about and spreading positive word of mouth about the new product,they prove instrumental in bringing in the next adopter category,early adopters.

Question 14

The most challenging part of applying the product life cycle concept is that managers do not know exactly what shape each product's life cycle will take.

Accepted Answer

A) True 
 B)False  True

Question 15

When Glenn asked a few of his regular customers to test his prototype surfboard,he was engaging in alpha testing.

Accepted Answer

A) True 
 B)False  False

Question 16

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?F) A) and B)
G) None of the above

Question 17

What type of event exposes retailers to large numbers of new products in a concentrated location?

Accepted Answer

A)   hosted shows
B)   browser shows
C)   premarket demonstrations
D)   trade shows
E)   trade promotionsF) B) and E)
G) B) and C)

Question 18

Robin recently bought Voice over Internet Protocol (VoIP) phone service.A few of Robin's friends bought VoIP before she did,but many other friends were interested in Robin's opinions of the new phone service.Robin is a(n) __________ in this product category.

Accepted Answer

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

Question 19

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 20

What is the difference between alpha testing and beta testing?

Accepted Answer

Alpha testing involves determining wheth...

Exam 12: Developing New Products

Many restaurants offer daily specials,appetizers,entrees,and desserts not listed on their standard menu.These daily specials primarily provide the new product benefit of

Correct Answer
verified

During the __________ stage of the product life cycle,sales peak and profits begin to decline as competition becomes intense.

Correct Answer
verified

For new product marketers,early adopters are important because they tend to be

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

In one test before product launch,customers try a sample product and are then surveyed to understand whether or not they would buy / use the product again.This is known as

Correct Answer
verified

A(n) __________ is a fee paid by manufacturers to get new products into stores or to gain more or better shelf space for products.

Correct Answer
verified

__________ are special incentives offering reduced prices for a limited time,offered to retailers to get them to try a new product.

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 __________ is a specific price at which manufacturers encourage retailers to sell a product.

Correct Answer
verified

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

Correct Answer
verified

In the diffusion of innovation process,innovators enjoy taking risks and are regarded as highly knowledgeable.Marketers want to identify innovators because

Correct Answer
verified

Correct Answer
verified

Why are innovators important to marketers?

The most challenging part of applying the product life cycle concept is that managers do not know exactly what shape each product's life cycle will take.

Correct Answer
verified
True

When Glenn asked a few of his regular customers to test his prototype surfboard,he was engaging in alpha testing.

Correct Answer
verified
False

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

What type of event exposes retailers to large numbers of new products in a concentrated location?

Correct Answer
verified

Robin recently bought Voice over Internet Protocol (VoIP) phone service.A few of Robin's friends bought VoIP before she did,but many other friends were interested in Robin's opinions of the new phone service.Robin is a(n) __________ in this product category.

Correct Answer
verified

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

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

Many restaurants offer daily specials,appetizers,entrees,and desserts not listed on their standard menu.These daily specials primarily provide the new product benefit of

Correct AnswerverifiedShow Answer

During the __________ stage of the product life cycle,sales peak and profits begin to decline as competition becomes intense.

Correct AnswerverifiedShow Answer

For new product marketers,early adopters are important because they tend to be

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

In one test before product launch,customers try a sample product and are then surveyed to understand whether or not they would buy / use the product again.This is known as

Correct AnswerverifiedShow Answer

A(n) __________ is a fee paid by manufacturers to get new products into stores or to gain more or better shelf space for products.

Correct AnswerverifiedShow Answer

__________ are special incentives offering reduced prices for a limited time,offered to retailers to get them to try a new product.

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 __________ is a specific price at which manufacturers encourage retailers to sell a product.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In the diffusion of innovation process,innovators enjoy taking risks and are regarded as highly knowledgeable.Marketers want to identify innovators because

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Why are innovators important to marketers?

The most challenging part of applying the product life cycle concept is that managers do not know exactly what shape each product's life cycle will take.

Correct AnswerverifiedTrue

When Glenn asked a few of his regular customers to test his prototype surfboard,he was engaging in alpha testing.

Correct AnswerverifiedFalse

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

What type of event exposes retailers to large numbers of new products in a concentrated location?

Correct AnswerverifiedShow Answer

Robin recently bought Voice over Internet Protocol (VoIP) phone service.A few of Robin's friends bought VoIP before she did,but many other friends were interested in Robin's opinions of the new phone service.Robin is a(n) __________ in this product category.

Correct AnswerverifiedShow Answer

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

What is the difference between alpha testing and beta testing?

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

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True

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False

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

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