Question 1

Define conjoint analysis and identify the reason why marketers use this concept in market testing.

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Question 2

Differentiate between a product idea and a product concept.

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Question 3

Your company's new pet food feeder is ready for test marketing.Define the variables that you must try to measure during the market testing.

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Question 4

Your search for tires for your car has identified hundreds of choices.Included in these choices were some brand names that you were unaware of or whose brand you have never heard of before but that contained some innovative features.In the adoption process,what would your next step be?

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Question 5

Concept testing entails presenting consumers with an elaborated version of the concept.Consider the scenario: "Our product is a powdered mixture that is added to milk to make an instant breakfast that gives the person all the needed nutrition along with good taste and high convenience.The product would be offered in three flavors (chocolate,vanilla,and strawberry)and would come in individual packets,six to a box,at $2.49 a box." From this information,respondents would answer questions that would indicate what about the concept?

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Question 6

The success of the cell phone is due in part to the fact that the cell phone matches the values and experiences of individuals.In the adoption process,this describes which of the processes that speeds the adoption process?

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Question 7

Not all companies undertake market testing.What factors influence the amount of market testing a product receives?

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Question 8

How would you go about performing a risk analysis to estimate your company's profit on a potential new product?

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Question 9

In commercializing a new product,market-entry timing is critical.Suppose your company has completed its development work on its new pet food feeder product but learns that a competitor is close to launching a competitive product.What three choices does the company face?

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Question 10

The Apple iPod has been a new-product success story the past few years.One of the reasons that the adoption process for this product was so short was due to the product's ease of use.In marketing terminology,what term best describes the product's ease of use?

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Quiz 20: Introducing New Market Offerings