Question 1

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

Accepted Answer

Homogeneous population refers to a population that shares similar physical, cultural, and social characteristics. Such populations are likely to have similar needs, interests, and preferences, which makes it easier for companies to introduce and market new products. In contrast, countries with a highly diverse culture have different sub-groups with distinct needs and preferences, making it harder to cater to everyone's needs and slowing down the adoption rate.

Question 2

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 has a highly homogeneous population compared to the other countries listed.

Question 3

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

Compatibility refers to the extent to which a product is consistent with the existing values, attitudes, and behaviors of the individuals in the social system. Therefore, the best choice for the question would be compatibility.

Question 4

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

Typically, adoption rates are higher in lead countries (ones that are technologically advanced and economically developed) than in lag countries (ones that are not as advanced or developed). Therefore, the correct answer is B, where adoption rates are higher in lag countries.

Question 5

If a consumer considered four attributes to be important in the purchase of a TV,by using ________________ the researcher might be able to determine the trade-offs
Between the different product attributes (such as purchase price or number of channels
That could be received)when the consumer evaluated the alternatives for eventual
Purchase.

Accepted Answer

Conjoint analysis is a statistical technique commonly used in marketing research. It is used to determine how different product attributes (such as price and number of channels) impact consumer preferences and purchase decisions. By analyzing consumer responses to different attribute combinations, researchers can determine which attributes are most important to consumers and how much they are willing to pay for each attribute. This allows them to determine which product features are most valued by consumers and make informed decisions about product design and pricing strategies.

Question 6

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

Accepted Answer

The company itself, its customers, the competition, and potential collaborators are all great sources for finding new product ideas as they can provide insights into market gaps, customer needs and interests, and potential partnerships or acquisitions. The other options listed may provide some information but are not reliable or ethical sources for generating new product ideas.

Question 7

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

Accepted Answer

The answer of Once new product ideas have been identified,the...

Question 8

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 characteristic that best fits with the question "Is the product easy to understand or use?" is complexity. Complexity refers to the degree to which a product or innovation is perceived as difficult to understand or use.

Question 9

A sophisticated method (sometimes called trade-off analysis)for measuring consumer preferences for product concepts is called:

Accepted Answer

Conjoint analysis is a sophisticated method for measuring consumer preferences for product concepts by presenting consumers with different product attributes and asking them to rate their preferences. It allows marketers to understand which specific product features are most important to consumers and how they value different combinations of features when making purchasing decisions. Chi-square and correlation analysis are statistical methods used to analyze data, while focus groups are a qualitative method used to gather consumer insights. Regression analysis can also be used to measure the relationship between variables, but it is not as specialized for measuring consumer preferences as conjoint analysis.

Question 10

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

Accepted Answer

Testing objectives, testing marketing mixes, making projections of sales volume, and analyzing potential competitive marketing mixes are all reasons to conduct test markets. Test markets allow companies to test the viability of their product and marketing strategies in a real-world setting before launching on a larger scale. Attitude screens, product models, and product concepts are all research methods used in the development stage of a product, while focus concepts are used to gather feedback on specific aspects of a product or marketing campaign.

Question 11

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

Accepted Answer

A lag country is a market where a product has already been introduced and has had some time to establish itself, but it may not be fully adopted yet.

Question 12

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 typically used to assess the sales potential and other performance measures of a new product in a select set of cities, making it the best choice for this question. Option A, an attitude screen, is typically used to evaluate consumer opinions and perceptions of a product, rather than its sales potential. Option B, a product model, is a physical or virtual representation of a product used for testing and refinement, but not typically used for market testing. Option C, a product concept, is a general idea or description of a product, rather than a specific testing methodology. Option E, a focus concept, is a research technique used to gain in-depth insights into consumer attitudes and behaviors, but not specifically related to market testing.

Question 13

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

Accepted Answer

Cosmopolitans are individuals who are not restricted by their local beliefs and have a broader view of the world. They are open to other cultures and traditions and have a global perspective on different issues.

Question 14

All of the following are factors that affect product penetration in the European market (according to a recent survey),EXCEPT:

Accepted Answer

None of the other options have any relevance to product penetration in the European market. The factors that do affect product penetration, as per the survey, are economic environment, cultural environment, social environment, legal and regulatory environment, and competitive environment.

Question 15

The starting premise of _______________ is that people make trade-offs between the different product attributes when they evaluate alternatives (or brands)from
Which they pick a choice.

Accepted Answer

The premise described fits with the technique of conjoint analysis, which is used to understand how people make trade-offs between different attributes of a product or service when deciding which option to choose. Conjoint analysis asks participants to evaluate different combinations of attributes and levels and uses statistical methods to estimate the relative importance of each attribute and level.

Question 16

Conjoint analysis is also referred to as _____________________.

Accepted Answer

Conjoint analysis is also referred to as trade-off analysis because it involves breaking down a product or service into its key attributes and asking survey respondents to rate their preferences for different combinations of these attributes. This allows researchers to determine which attributes are most important to consumers and how they trade-off between different attribute levels.

Question 17

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

Accepted Answer

All of the other choices are steps in the new product development process, but budget development is not a specific step in the process. While budget considerations are definitely taken into account throughout the process, it is not a distinct step like the others listed.

Question 18

A recent study examined the difference of six products in 31 developing and developed countries across the world.A key finding was that ___________________
Tend to experience a far slower adoption rate than developed countries.

Accepted Answer

The answer of A recent study examined the difference of...

Question 19

______________ is part of a formal scoring model in screening new products.

Accepted Answer

New Prod is commonly used as an abbreviation for "New Product" in formal scoring models for screening new products. The other options (ExProd, YProd, ZProd) are not commonly used abbreviations in this context.

Question 20

A _________________ country is where a product is first introduced.

Accepted Answer

A leading country is the first to introduce a product.

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

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

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?

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?

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.

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

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

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?

A sophisticated method (sometimes called trade-off analysis) for measuring consumer preferences for product concepts is called:

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

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

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.

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

All of the following are factors that affect product penetration in the European market (according to a recent survey) ,EXCEPT:

The starting premise of _______________ is that people make trade-offs between the different product attributes when they evaluate alternatives (or brands) from Which they pick a choice.

Conjoint analysis is also referred to as _____________________.

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

A recent study examined the difference of six products in 31 developing and developed countries across the world.A key finding was that ___________________ Tend to experience a far slower adoption rate than developed countries.

______________ is part of a formal scoring model in screening new products.

A _________________ country is where a product is first introduced.

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

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

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?

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?

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.

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

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

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?

A sophisticated method (sometimes called trade-off analysis) for measuring consumer preferences for product concepts is called:

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

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

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.

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

All of the following are factors that affect product penetration in the European market (according to a recent survey) ,EXCEPT:

The starting premise of _______________ is that people make trade-offs between the different product attributes when they evaluate alternatives (or brands) from Which they pick a choice.

Conjoint analysis is also referred to as _____________________.

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

A recent study examined the difference of six products in 31 developing and developed countries across the world.A key finding was that ___________________ Tend to experience a far slower adoption rate than developed countries.

______________ is part of a formal scoring model in screening new products.

A _________________ country is where a product is first introduced.

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.