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?
Repositioned products
Revised Products
Discontinuous innovations
New and improved products
Which of the following statements describes a customer innovation center?
It is an approach to repositioning a company’s products using sales figures.
It promotes advertising among status-conscious customers.
It is a forum for meeting with customers and directly involving them in the innovation process.
It is used in the business analysis stage of the new-product development process.
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:
Eliminate Products that are inconsistent with Hamdi's Business mission
Develop products by applying new technology
Make a slight change in the design or function of the existing products
Add new products to supplement Hamdi's established product line
Test marketing is very expensive. As a result, which of the following is true of some companies?
They go for a national introduction than an expensive test market
They do not test market line extensions of well-known brands to save costs
It is better to have a large scale test market that is decidedly affordable
They mandatory test market line extensions of well-known brands
Which of is the following important factor in successful new product introduction?
The features of the new product should be similar to its substitutes in the market
The product should not be developed using crowdsourcing
The new product should be priced lower than the other products in the same category
The new product should deliver a meaningful and perceivable benefit to a sizable number of people
Which of the following is a characteristic of products produced by multinational corporations?
Products are developed for global distribution and then tweaked to meet unique market requirements whenever possible
A firm that starts with a local strategy is better able to develop global products
Products aren't adequately distributed in local markets
Test marketing is not required for product development by multinational firms
Which the following is a characteristic shared by both early majority and the late majority?
Both tend to have opinion leaders within their groups
Both rely on science and experts for information
Both depend on word-of-mouth communication
Both are primarily influenced by the mass media
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 ______.
Free of difficulty relating to its usage
Consistent with existing values
Perceived as superior to existing substitutes
Available to be tried on a limited basis
In which way does the concept of product life cycle (PLC) help marketing managers?
It tells managers the length of the product's life cycle
It helps marketers forecast future events and suggest appropriate strategies
It dictates the marketing strategy to be used for a product
It informs marketers about the duration of the product in the various stages of its life cycle
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?
End of the decline stage
End of the introductory stage
Beginning of the growth stage
Beginning of the maturity stage
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:
A repositioned product
An addition to existing product lines
A revised product
A discontinuous innovation
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?
The product's distributor
The product's competitor
Customers
A company employee
When considering the new-product development process, which of the following statements is true of screening?
It eliminates ideas that are inconsistent with an organization's new product strategy
It calculates preliminary figures for demand, costs, sales and profitability
It involves getting customer reactions to visual representations of a proposed product
It involves making cosmetic or functional changes to existing products
Which of the following statements is true of simulated market testing?
It is often conducted on prototype models during the development stage
It is a useful tool for implementing simultaneous product development
It is the final stage in the new product development and marketing process
It is used to monitor shopper behavior to assess a product's likely performance
Which of the following is characteristic of both early adopters and the early majority?
Both groups tend to be opinion leaders
Both rely on group norms and values
Both desire to earn the respect of others
Both are influenced by social media websites and digital promotions
In the context of diffusion of innovation, the dominant value of laggards is _____.
Skepticism
Deliberateness
Adventure
Tradition
Comparably speaking, which of the following would have the highest observability in terms of its rate of acceptance and diffusion?
A new line of trousers
A musical instrument
A medicinal tea
A social media app
The PLC for a brand that was the first and last competitor and a product for market is _____.
Said to be zero or nil
Longer than that of the product form
Shorter than that of the product form
As long as that of the product form
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?
Lengthen the product line
Focus on adding new users
Spend heavily on advertising to educate consumers about the product's benefits
Eliminate all nonessential marketing expenses and let sales decline
