MKT 333 CH 11

laggard

16%

Late Majority (34%)

34%

How different the product is from other offerings in the market How valuable the product is to the consumer

How different the product is from other offerings in the market How valuable the product is to the consumer

A strong brand protects firms from which of the following? (Select all that apply.)

New products offering similar features or benefits An existing competitor lowering prices

Which of the following help to increase a brand's equity? (Select all that apply.)

Perceived value Brand awareness Customer loyalty

idea generation concept testing product development market testing product launch evaluation of products success

The product development process can be diagrammed as a sequential process. Place the stages in order, with the first stage at top.

The Apple iPod was readily accepted by consumers in part because it was an easy way to listen to music anywhere, with substantial improvements over portable CD players. This is an example of a relative within the diffusion process.

advantage

relative ______ deals with perception among consumers that a product is better than its su

advantage

Laggards

are consumers who like to avoid changes and rely on traditional products until they are no longer available.

Innovators

are the first ones to adopt it

Consumer packaged goods companies sell products across many different product lines. These companies have significant ______ in their product mixes.

breadth

If a company's products are too closely related, sales of one brand may

canabalize

Once a product stops generating sales or profits, or sales and profits are very low, the product is in the

decline

The number of products within a product line is a firm's product line ______.

depth

Along the diffusion of innovation curve, _______ make up the second group of consumers to adopt an innovation; they tend to be leaders in a social setting.

early adopters

majority of consumers enters the market, the market has already reached its full market potential.

late

represents the earlier half of the two largest categories of consumers on the diffusion of innovation curve.

majority

majority

represents the earlier half of the two largest categories

Blank 1: introduction, intro, or introductory

stage of the life cycle for a new product or service category

introduction

stage of the product life cycle is characterized by initial losses to the firm due to its high start-up costs and low levels of sales revenue as the product begins to take off.

Concept

testing is a written description of a product and its technology and is presented to potential buyers or users to obtain their reactions.

visual images customer needs it satisfies

visual images customer needs it satisfies