chapter 12
All of the following are benefits of new product development to a firm except reducing the costs of production. satisfying the changing needs of current and new customers. avoiding market saturation from products that have been on the market for a long time. creating diversification and reducing risk. keeping up in a market with short product life cycles where sales come mostly from new products.
a
Bob and George live in the United States. Bob recently asked for George's cell phone number, but George said he didn't own a cell phone. George would probably be considered a(n) __________ in the diffusion of innovation process. innovator laggard late majority adopter early majority adopter early adopter
b
Hollywood studios typically release movies targeted toward general audiences (G- or PG-rated movies) during the summer when children are out of school. The timing of the release pertains to the product's premarket test. launch. evaluation. research and development. test marketing.
b
Pioneer or breakthrough products will likely result in late maturity buying. can change consumer preferences. incorporate reverse engineering outputs. require the use of concept testing services. must be geographically centered.
b
When conducting exploratory concept testing for her firm's new Internet antipiracy software, which is the most important question that Dee should ask? How long will it take to bring the software to market? Will respondents purchase the software if it becomes available? Who will determine the price to be charged? Where should the product be sold? Which computer trade show will be used to introduce the product?
b
__________ is the process by which ideas are transformed into new products and services that will help firms grow. Beta testing Concept testing Innovation Reverse engineering Competition
c
At the end of a brainstorming session, participants are often asked to identify the worst ideas. defer to management for the final decision. identify which ideas each person proposed. vote on the best ideas. propose one more new idea each.
d
When Dr. Putt invented his Eye-Over-the-Ball (EOB) golf putting device, he knew during the introductory stage sales would rise quickly, profits would jump, and even laggards would buy his product. sales would level off, profits would decline, and mature golfers would be attracted to his product. sales would slow down, profits would peak, and early adopters of golf equipment would be his major customers. sales would be low and profits nonexistent, but he would attract golf equipment innovators. sales would be low, profits would be high, and all potential golfers would jump at the opportunity to buy his product.
d
When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda and a few other manufacturers entered the market, shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle. introduction leveling maturity growth decline
d
After a product has been launched, marketers must undertake a critical postlaunch review to determine whether the product and its launch were a success or failure and what additional resources or changes to the marketing mix are needed, if any. For a product that does move on, the firms can measure the success of the new product by interrelated factors that include all of the following except its satisfaction of technical requirements. its satisfaction of performance. customer acceptance. its satisfaction of the firm's financial requirements. its satisfaction of the firm's manufacturing requirements.
e
