Question 1

A(n) _____ is essentially a field experiment where the new product is marketed in a select set of cities to assess its sales potential and scores of other performance measures.

Accepted Answer

A test market is a marketing strategy where a new product is introduced to a limited number of cities or areas to gauge its performance, including sales potential and other key metrics, before a wider release.

Question 2

A _____ country is where a product is entered after initial introduction has taken place.

Accepted Answer

A lag country is one where a product is introduced after it has already been launched in other markets. This term reflects the delay in introduction or adoption in these countries.

Question 3

Testing objectives, testing marketing mixes, making projections of sales volume, and analyzing potential competitive marketing mixes are all reasons to conduct:

Accepted Answer

Test markets are used for testing objectives, testing marketing mixes, making projections of sales volume, and analyzing potential competitive marketing mixes. This allows companies to evaluate the potential success of a product or service in a smaller, controlled setting before a full-scale launch.

Question 4

A common technique to avoid a global test market is to make global sales projections based on product performance in a _____ market.

Accepted Answer

Lead markets are often used to predict global sales because they are typically early adopters of new products and technologies, indicating how well a product might perform globally.

Question 5

The adoption rate for new products in countries with a _____ population is usually faster than in countries with a highly diverse culture.

Accepted Answer

The adoption rate for new products is usually faster in countries with a homogeneous population because a more uniform set of cultural values and preferences can lead to quicker consensus on the value of new products. In contrast, a highly diverse or heterogeneous culture may have varied preferences and values, slowing down the adoption process.

Question 6

The adoption rate for a new product in countries with a homogeneous population is usually faster than in countries with a highly diverse culture.Which of the following countries would probably have the fastest adoption based on the information provided above?

Accepted Answer

Japan is known for having a more homogeneous population compared to the other countries listed, which suggests a faster adoption rate for new products.

Question 7

One alternative to the test market is the _____.

Accepted Answer

A laboratory test market is an alternative to a traditional test market, allowing for controlled testing of products in a simulated environment.

Question 8

Once new product ideas have been identified, the next logical step is to _____ the ideas.

Accepted Answer

The next logical step after identifying new product ideas is to screen them. This involves evaluating the ideas to determine their potential for success and feasibility, helping to narrow down the options to those most worth pursuing.

Question 9

Which of the following are among the best sources for finding new product ideas?

Accepted Answer

The best sources for new product ideas typically include insights from the company itself, feedback from customers, analysis of competitors, and collaboration with partners or collaborators. These sources provide practical and relevant information that can lead to innovative product development.

Question 10

_____ are people who look beyond their immediate social surroundings and are not local in their opinions.

Accepted Answer

Cosmopolitans are individuals who embrace global cultures and ideas, looking beyond their immediate social and geographical boundaries. They are open to diverse cultures and viewpoints, making them not local in their opinions.

Question 11

The Nielsen Global New Product Innovation Survey taps into the reasons why consumers bought their last new product.Globally, on average, the top drivers included all of these except for which one?

Accepted Answer

The Nielsen Global New Product Innovation Survey found that affordability, convenience and ease, brand power, and novelty and visibility were top drivers for purchasing new products, but not environmentally friendly.

Question 12

All of the following are steps in the new product development process except:

Accepted Answer

Budget development is not a step in the new product development process. The process typically includes identifying new product ideas, screening those ideas, concept testing, and test marketing, but budget development is a broader activity that spans across many stages and is not considered a distinct step in the process.

Question 13

All of the following are factors that affect product penetration except:

Accepted Answer

Seasonal weather patterns do not directly affect product penetration, which is more influenced by social and demographic factors like cosmopolitanism, mobility, and workforce composition.

Question 14

Is the product consistent with exiting values and attitudes of the individuals in the social system, would be a question that best fits with which of the following key product characteristics acceptance categories?

Accepted Answer

The question pertains to how well the product aligns with the existing values, beliefs, and past experiences of the potential adopters, which is the essence of compatibility in the context of product acceptance and diffusion of innovations.

Question 15

If prospective customers are contacted and shown commercials for the new product and existing brands (then asked to state attitudes and preferences of what they have seen), then the marketing research entity will probably have conducted a(n) _____ instead of a full test market.

Accepted Answer

A laboratory test market involves showing commercials or presentations of products to individuals in a controlled environment, rather than conducting a full-scale test market in a real-world setting. This allows for the collection of attitudes and preferences in a more controlled and cost-effective manner.

Question 16

A _____ country is where a product is first introduced.

Accepted Answer

A "lead" country is where a product is first introduced, as it typically leads in innovation or market introduction for that product.

Question 17

Is the product easy to understand or use, would be a question that best fits with which of the following key product characteristics acceptance categories?

Accepted Answer

The question "Is the product easy to understand or use?" directly relates to the product characteristic of complexity. A lower complexity means the product is easier to understand and use, which is a key factor in its acceptance and adoption by users.

Question 18

To what extent does the new product offer more perceived value to potential adopters than exiting alternatives, would be a question that best fits with which of the following key product characteristics acceptance categories?

Accepted Answer

The question pertains to the perceived benefits or improvements a new product offers over existing alternatives, which directly relates to the concept of "relative advantage." This is one of the key factors influencing the adoption of new products, as identified in the diffusion of innovations theory.

Question 19

With respect to adoption rates in the international marketplace, it appears to be generally true that adoption rates are higher in _____ countries than in _____ countries.

Accepted Answer

Adoption rates are higher in lead countries than in lag countries because lead countries are the first to adopt new products and technologies, while lag countries are the last to adopt them.

Question 20

Adoption rates of new products are affected by:

Accepted Answer

Adoption rates of new products can be influenced by a variety of factors including population homogeneity, the proportion of women in the labor force, cosmopolitanism, and mobility. Each of these factors can affect how quickly or slowly a new product is adopted within a community or society.

Quiz 10: Global Product Policy Decisions I: Developing New Products for Global Markets