Question 1

Within the secondary school yard, there are often people belonging to different subcultures such as Homies, Geeks, Goths and others. Each subculture is recognisable by its distinctive manner of dressing. For example, Homies wear saggy pants, baggy T- shirts, long shorts, shoes without laces and may even sport braided hairstyles in a type of "uniform" intended to identify individuals as members of Homie group. This manner of dressing is BEST described as:

Accepted Answer

The distinctive manner of dressing that identifies members of a subculture is best described as style, as it is a unique and identifiable way of dressing that distinguishes one group from others. Fashion refers to the prevailing trends and styles in clothing at a particular time, whereas mode refers to a particular way of doing something. Fads are short-lived trends that come and go quickly, and genre is a term typically used in literature, music, and art to describe a particular style or category.

Question 2

The head of Research and Development at Beta Corporation has been asked to forward a write up of the firm's latest new product ideas produced by the R & D department to the new product development committee for review. The write up will be used for:

Accepted Answer

The answer of The head of Research and Development at...

Question 3

The stage of the product adoption process in which consumers consider whether trying a new product makes sense is known as:

Accepted Answer

The evaluation stage of the product adoption process is where consumers consider whether trying a new product makes sense. Awareness is when consumers become aware of the product's existence, interest is when they become intrigued by it, trial is when they try it for the first time, and adoption is when they continue to use it regularly.

Question 4

The stage of the product life cycle that typically lasts longer and poses more marketing challenges is:

Accepted Answer

The stage of maturity typically lasts longer and poses more marketing challenges because the product has already achieved widespread acceptance and competition is high, making it difficult to maintain market share and sustain growth. Additionally, consumer preferences may shift or new technologies may emerge, making it necessary for the product to be updated or revitalized in order to remain relevant.

Question 5

The adopter category that is more likely to be seen as opinion leaders and is thus more important to the successful diffusion of new product ideas is:

Accepted Answer

Early adopters are the adopter category that is more likely to be seen as opinion leaders and are important to the successful diffusion of new product ideas. They are typically well-educated, financially stable, and willing to take risks to try out new products. They also have a larger social network and influence others in their decision-making process, making them an important target audience for marketers.

Question 6

The stage of the product life cycle where sales begin to slow down is known as:

Accepted Answer

The maturity stage of the product life cycle is characterized by a slowdown in sales growth because the product has achieved acceptance by most potential buyers, leading to increased competition and market saturation.

Question 7

The Kappa Corporation is preparing to roll out a new product and is currently deciding whether it should enter the market at the same time it knows a competitor's new product is coming out. The firm is in which stage of the new product development process?

Accepted Answer

The firm is in the commercialization stage, where it decides on the timing of the product launch, especially in relation to competitors' actions.

Question 8

The bustle, a steel or mesh frame which women wore attached to the back of their waists and designed to support the weight of fabric used in long skirt trains, was popular during the late nineteenth century. It enhanced the female silhouette by enlarging the buttocks. In its day, the bustle was one of the most popular female accessories, worn by women around the world from the early 1870s through to the early twentieth century. The bustle is a late nineteenth century example of a:

Accepted Answer

The bustle was a popular fashion trend during the late nineteenth century, as it was a common accessory worn by women from the early 1870s through to the early twentieth century. It was not a temporary fad or a specific style confined to a certain group of people, but rather a broader trend in fashion during this time period. The term "mode" could also apply, but "fashion" is the more specific and accurate term in this context. "Genre" does not apply as it refers to a category of artistic works, such as literature or film.

Question 9

A study of 200 moderate- to- high- technology new- product launches found that the single most important success factor is:

Accepted Answer

Having a unique superior product is often the most critical factor for the success of new product launches, as it differentiates the product in the market and meets customer needs effectively.

Question 10

Which of the following statements about lead users is correct?

Accepted Answer

Lead users are crucial in rapidly changing technologies because they help identify future market trends. In slowly evolving markets, their importance might seem less, but they still play a significant role in innovation. Their needs are often ahead of the market, making them valuable for developing new products or services.

Question 11

Management at Greville Street Lingerie Company considered making embroidered pillow slip covers, but then decided slip covers were not within the company's corporate mission. Which stage of the new product development process did they reach?

Accepted Answer

Idea screening is the stage where ideas are evaluated and filtered based on various criteria such as fit with corporate mission, technical feasibility, profitability, and market demand. Therefore, the management's decision to not pursue the embroidered pillow slip covers indicates that they have reached the idea screening stage.

Question 12

A marketer of new shower screens with a Teflon coating that is stain resistant asks a panel of consumers, "Do you understand how the addition of Teflon will benefit you?" and "Would this type of shower closure solve a cleaning problem for you?" This marketer is in which stage of new product development?

Accepted Answer

The marketer is in the concept development stage, where they are asking for consumer feedback on the benefits and potential problem-solving capabilities of their new product.

Question 13

Which of the following statements about product development in service firms is false?

Accepted Answer

All the statements provided reflect common characteristics of innovation and product development within service firms, including their tendency towards incremental improvements, focus on social or organizational changes, and emphasis on process improvements over R&D-based innovations.

Question 14

A test market in which researchers measure consumer responses to new products and marketing tactics in laboratory stores or simulated shopping environments is known as:

Accepted Answer

Simulated test markets are designed to replicate real-world shopping environments in a controlled setting. They are useful for measuring consumer responses to new product concepts, advertising messages, and other marketing tactics before a full-scale launch. This allows marketers to identify potential issues and make adjustments before investing in a larger rollout. Standard test marketing, consumer panels, and geographic environments are other market research methods that may be used in conjunction with simulated test markets. Experimental environments typically involve more controlled conditions and may be used to test specific hypotheses.

Question 15

Testing new consumer products in situations like those that will be faced during full scale launch takes place in test markets called:

Accepted Answer

The answer of Testing new consumer products in situations like...

Question 16

During the market strategy development stage of the new product development process, the marketing department prepares a marketing strategy statement. Which of the following elements would NOT normally be included in the statement?

Accepted Answer

The marketing strategy statement typically includes planned sales, profit and market share goals, a description of the target market, the planned value proposition, and the planned price, distribution, and marketing budget. An outline of the promotional activity required for product launch is more specific and detailed than what is usually included in the initial marketing strategy statement.

Question 17

Select the words that best complete the following sentence. The purpose of ________is to create a large number of new product ideas; the purpose of _________ is to reduce the number of ideas.

Accepted Answer

The purpose of "generation" is to create a large number of new product ideas, while "screening" is used to reduce the number of ideas by evaluating their feasibility and potential.

Question 18

The majority of all products sold today are in ________stage of the product life cycle.

Accepted Answer

The majority of products sold today are in the maturity stage of the product life cycle. This means that the product is already established and has a stable demand from consumers. Companies during this stage focus on maintaining their market share and profitability rather than introducing new products.

Question 19

Which of the stages in the new product development process is the most expensive?

Accepted Answer

Commercialisation is the most expensive stage in the new product development process as it involves the full-scale production, marketing, and distribution of the product. It requires a significant investment in resources, such as advertising, packaging, and distribution, and can involve a high level of risk if the product does not perform well in the market.

Question 20

Five- year- old Jessica Rosbrook of Kent in England has a dream job. A host of new toy products are delivered to her door by European toy manufacturer, TOMY. Jessica knows how lucky she is because she gets to play with these new toys before they hit the market and well before any of her friends has seen them. Jessica plays with the hottest games and toys for several weeks in her own home environment, after which she provides TOMY with a rating and review of each new product. Not only does Jessica get to keep all the toys, she has also built up an enviable toy collection and is paid a small fee for her "work." Jessica is engaged in which part of the new product development stage?

Accepted Answer

The answer of Five- year- old Jessica Rosbrook of Kent...

Quiz 11: New Products