Question 1

Expanded Metal Products is an industrial manufacturer that supplies a wide range of markets.From commercial air conditioner covers and industrial flooring to exhaust vents used in manufacturing facilities, EMP has over 45,000 products that mostly have been developed in-house.Now the company has hired you as a consultant to lead it to generate new product ideas from outside the firm.What will you do?

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Question 2

Describe a situation where you were an innovator or early majority and another where you were a laggard.

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Question 3

What are the three separate purchase situations used in calculating total demand?

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Question 4

What are new-to-the-world products? What are the two categories these fall into? Give an example of each.

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Question 5

What are the five states of the innovation diffusion process?

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Question 6

Discuss three external factors that may contribute to new produce failures.How have Japanese carmakers gained a competitive advantage over U.S.automakers?

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Question 7

A cross-functional team at Electronic Toys has been assembled to work on the product definition for a concept that has passed through the screening process.What three objectives should the team focus on?

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Question 8

Identify three internal issues that may contribute to new product failure.

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Question 9

What are the four key decisions managers make in regards to consumer product testing?

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Question 10

Which categories do 2/3s of all adopters fall into?

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Question 11

What are some of the ethical issues of have KidCare TV in pediatricians' offices?

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Question 12

Wilson has been tasked with asking customers what they think about a new product concept.What kinds of questions should he ask? What role can customers play in testing the product concept?

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Question 13

Why is the early success of a new product launch so important? Give an example.

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Question 14

Which groups of consumers as defined in the consumer product adoption process are of particular interest to companies launching new products?

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Question 15

What is the rate at which a product is accepted called?

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Question 16

What is the difference between alpha and beta testing?

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Question 17

Why does a firm develop marketing strategy during the new product development process? Why doesn't the firm simply wait until the product is ready to be launched to develop the marketing strategy? Isn't it a waste of time to develop strategy for a product that may never get to market?

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Quiz 12: The Product Experience: New Product Development