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Exam 12: Developing New Products

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Question 51

Multiple Choice

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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

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.

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Question 52

Multiple Choice

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The Eiger Labs MPMan was the first mass-produced MP3 player sold in the United States. Eiger Labs was a(n) ________ in the MP3 player market.

A) blockbuster
B) early adopter
C) pioneer
D) market tester
E) concept tester

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Question 53

Multiple Choice

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On the basis of the research it has gathered on consumer perceptions, the tests it has conducted, and competitive considerations, the XYZ firm confirms its target market (or markets) and decides how its product will be positioned. Then the firm finalizes the remaining marketing mix variables for the new product, including the marketing budget for the first year. This process illustrates

When McDonald's comes up with a new drink or sandwich for its restaurants, it often markets it in a dozen or so of its outlets. When the company does this, it is engaged in

The diffusion of innovation curve follows the following sequence: innovators, early majority, late majority, early adopters, and laggards.

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

Test marketing refers to customers who modify existing products according to their own ideas to suit their specific needs.

The diffusion of innovation theory is useful to marketers in helping them

Kristina created a virtual prototype of her new line of swimwear on a website to show to consumers. Kristina realizes there are multiple lines of swimwear out there and hers will need to be unique. For Kristina, which important question should she be asking at this point?

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

If a few of Nintendo's customers are asked to try out a new video game that has not yet been released on the market, this is an example of

When they add products, services, and processes to their offerings, firms can create and deliver value more effectively by satisfying the changing needs of their current and new customers or by keeping customers from getting bored with the current product or service offering. How did Steve Jobs, the Apple company's founder and visionary leader, change the phone, camera, communication, and technology markets?

Many marketers think personal computers in the United States are in the maturity stage of the product life cycle. What does this mean for manufacturers of personal computers? What can they do about it?

Describe your actions (or someone you know) in a situation where you (or they) were an innovator in the diffusion of innovation curve.

Marketing is a dynamic practice. While you are watching your competitors, they are watching you. Assume that you have just redesigned a product that is in the maturity phase of the product life cycle and have identified some new market segments. How do you think your competitors will respond?

When the iPad Mini came out, Sasha spent the night in front of the store so she could get one before any of her friends. According to the diffusion of innovation, Sasha is an innovator.

If a new product concept gets positive evaluations from potential customers during concept testing, the next step for a firm is

As personal computers became popular, the sale of typewriters decreased significantly and now typewriters are only used by a very small segment of consumers. Typewriters are in the maturity stage of the product life cycle.

The ________ step in the product development process is critical, requiring tremendous resources and extensive coordination of all aspects of the marketing mix.

When the sequel to Star Wars: The Force Awakens eventually shows up on their regular television networks, this group might watch it.