21114289
Description
Quiz by Kayla Harbaugh, updated more than 1 year ago
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Created by Kayla Harbaugh
over 6 years ago
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Question 1
Question
Hakimo Corp., a manufacturer of audio equipment, has developed a unique wireless speaker system that runs on solar power. The speakers can operate for 16 hours after being exposed to the sun for 2 hours. This product, which is radically different from anything available in the market, falls into which category of new products?
Answer
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Repositioned products
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Revised Products
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Discontinuous innovations
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New and improved products
Question 2
Question
Which of the following statements describes a customer innovation center?
Answer
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It is an approach to repositioning a company’s products using sales figures.
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It promotes advertising among status-conscious customers.
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It is a forum for meeting with customers and directly involving them in the innovation process.
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It is used in the business analysis stage of the new-product development process.
Question 3
Question
Hamdi Corp. manufactures and sells accessories for cell phones. To boost its sales, the research and development team decides to use product modification as an approach to new product development. In this scenario, the research and development team will most likely:
Answer
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Eliminate Products that are inconsistent with Hamdi's Business mission
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Develop products by applying new technology
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Make a slight change in the design or function of the existing products
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Add new products to supplement Hamdi's established product line
Question 4
Question
Test marketing is very expensive. As a result, which of the following is true of some companies?
Answer
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They go for a national introduction than an expensive test market
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They do not test market line extensions of well-known brands to save costs
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It is better to have a large scale test market that is decidedly affordable
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They mandatory test market line extensions of well-known brands
Question 5
Question
Which of is the following important factor in successful new product introduction?
Answer
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The features of the new product should be similar to its substitutes in the market
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The product should not be developed using crowdsourcing
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The new product should be priced lower than the other products in the same category
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The new product should deliver a meaningful and perceivable benefit to a sizable number of people
Question 6
Question
Which of the following is a characteristic of products produced by multinational corporations?
Answer
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Products are developed for global distribution and then tweaked to meet unique market requirements whenever possible
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A firm that starts with a local strategy is better able to develop global products
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Products aren't adequately distributed in local markets
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Test marketing is not required for product development by multinational firms
Question 7
Question
Which the following is a characteristic shared by both early majority and the late majority?
Answer
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Both tend to have opinion leaders within their groups
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Both rely on science and experts for information
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Both depend on word-of-mouth communication
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Both are primarily influenced by the mass media
Question 8
Question
When predicting or explaining a new rate of adoption and diffusion of a new product, relative advantage refers to the degree to which that product is ______.
Answer
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Free of difficulty relating to its usage
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Consistent with existing values
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Perceived as superior to existing substitutes
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Available to be tried on a limited basis
Question 9
Question
In which way does the concept of product life cycle (PLC) help marketing managers?
Answer
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It tells managers the length of the product's life cycle
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It helps marketers forecast future events and suggest appropriate strategies
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It dictates the marketing strategy to be used for a product
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It informs marketers about the duration of the product in the various stages of its life cycle
Question 10
Question
Atwood furnishers is experiencing a period when their sales are increasing at a slower rate. The company realizes that new users cannot be added indefinitely and that, sooner or later, its market will approach saturation. Which stage is the company now entering?
Answer
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End of the decline stage
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End of the introductory stage
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Beginning of the growth stage
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Beginning of the maturity stage
Question 11
Question
Nozzle is a specially designed product that retro fits into your existing water faucet and atomizes the water stream in a spray that lets you use 98% less water when washing hands, brushing teeth, and washing produce or dishes. Some consider this a game changer for environmental protection, especially in regions of water scarcity. This product would be categorized as:
Answer
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A repositioned product
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An addition to existing product lines
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A revised product
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A discontinuous innovation
Question 12
Question
A source suggested to Rubbermaid the idea of the Sidekick, a litter-free lunch box. Rubbermaid could place some of its plastic containers inside a lunch box and sell the box as an alternative to plastic wrap and paper bags. The source saw this opportunity because of being closer to the consumers than the manufacturer was and, thus, more aware of customer needs. Which of the following was likely the source?
Answer
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The product's distributor
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The product's competitor
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Customers
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A company employee
Question 13
Question
When considering the new-product development process, which of the following statements is true of screening?
Answer
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It eliminates ideas that are inconsistent with an organization's new product strategy
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It calculates preliminary figures for demand, costs, sales and profitability
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It involves getting customer reactions to visual representations of a proposed product
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It involves making cosmetic or functional changes to existing products
Question 14
Question
Which of the following statements is true of simulated market testing?
Answer
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It is often conducted on prototype models during the development stage
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It is a useful tool for implementing simultaneous product development
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It is the final stage in the new product development and marketing process
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It is used to monitor shopper behavior to assess a product's likely performance
Question 15
Question
Which of the following is characteristic of both early adopters and the early majority?
Answer
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Both groups tend to be opinion leaders
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Both rely on group norms and values
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Both desire to earn the respect of others
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Both are influenced by social media websites and digital promotions
Question 16
Question
In the context of diffusion of innovation, the dominant value of laggards is _____.
Answer
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Skepticism
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Deliberateness
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Adventure
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Tradition
Question 17
Question
Comparably speaking, which of the following would have the highest observability in terms of its rate of acceptance and diffusion?
Answer
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A new line of trousers
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A musical instrument
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A medicinal tea
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A social media app
Question 18
Question
The PLC for a brand that was the first and last competitor and a product for market is _____.
Answer
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Said to be zero or nil
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Longer than that of the product form
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Shorter than that of the product form
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As long as that of the product form
Question 19
Question
NutriOats, an oatmeal cookie product, has been in the market for more than seven years and is now in its decline stage. In this case, which of the following strategies would be successful in marketing NutriOats?
Answer
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Lengthen the product line
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Focus on adding new users
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Spend heavily on advertising to educate consumers about the product's benefits
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Eliminate all nonessential marketing expenses and let sales decline
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