Question 1

Testing objectives, testing marketing mixes, making projections of sales volume, and analyzing potential competitive marketing mixes are all reasons to conduct:
A) attitude screens.
B) product models.
C) product concepts.
D) test markets.
E) focus concepts.

Accepted Answer

Conducting test markets is the best choice for testing objectives, testing marketing mixes, making projections of sales volume, and analyzing potential competitive marketing mixes. Test markets involve launching a product in a small geographic area to test various marketing aspects before a full-scale launch, such as pricing, advertising, and packaging. This allows companies to gather data and make informed decisions about their marketing mixes and sales projections.

Question 2

The adoption rate for new products in countries with a ________________ population is usually faster than in countries with a highly diverse culture.
A) heterogeneous
B) complex
C) diverse
D) homogeneous
E) polycentric

Accepted Answer

A homogeneous population refers to a group of people who share similar values, beliefs, traditions, and lifestyle. Such a population tends to have a higher degree of uniformity in their preferences and behavior, making it easier to introduce and market new products. In contrast, a heterogeneous population with diverse backgrounds and customs may have different needs, preferences, and buying patterns, making it more challenging to appeal to a broad audience without targeting specific subgroups. Therefore, the adoption rate for new products is usually faster in countries with a homogeneous population.

Question 3

Conjoint analysis is also referred to as _____________________.
A) geometric analysis
B) trade-off analysis
C) meta analysis
D) longitudinal analysis
E) metric analysis

Accepted Answer

Conjoint analysis is a statistical technique used in market research to understand how consumers make choices between products or services with various attributes. This technique involves presenting consumers with different hypothetical product profiles that vary in their attributes (such as price, color, size, etc.) and asking them to make choices between them. By analyzing these choices, researchers can determine the importance of each attribute and how much consumers are willing to trade off one attribute for another. This is why conjoint analysis is also referred to as trade-off analysis.

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.
A) lead/lag
B) lag/lead
C) lead/middle adopters
D) lag/middle adopters
E) lead/opinion-lead

Accepted Answer

The answer of With respect to adoption rates in the...

Question 5

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.
A) attitude screen
B) product model
C) product concept
D) test market
E) focus concept

Accepted Answer

A test market is a field experiment where a new product is marketed in a select set of cities to assess its sales potential and scores of other performance measures such as consumer feedback, market demand, and competition. Choice A (attitude screen) is a research technique used to measure consumer attitudes towards a product or brand. Choice B (product model) refers to a physical or virtual representation of the product design. Choice C (product concept) is a description of a new product idea, its target market, and unique attributes. Choice E (focus concept) is a research technique aimed at identifying consumer expectations and preferences for a product or service.

Question 6

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.
A) chi-square
B) correlation analysis
C) focus groups
D) regression analysis
E) conjoint analysis

Accepted Answer

The starting premise described in the question is the key concept behind conjoint analysis, making it the best choice among the options provided. Conjoint analysis is especially useful for understanding how customers make decisions by decomposing a product or service into its key attributes and understanding the trade-offs they make when evaluating alternatives. With this information, businesses can design and improve products to better meet customer needs and preferences. Chi-square, correlation analysis, focus groups, and regression analysis may all be useful tools in marketing research, but they do not necessarily focus on the specific premise described in the question.

Question 7

All of the following are steps in the new product development process EXCEPT:
A) identification of new product ideas.
B) budget development.
C) screening.
D) concept testing.
E) test marketing.

Accepted Answer

Budget development is not a step in the new product development process. The other steps listed are commonly recognized steps in the process.

Question 8

______________ is part of a formal scoring model in screening new products.
A) New Prod
B) ExProd
C) YProd
D) ZProd
E) none of the above

Accepted Answer

"New Prod" is the only choice that seems to have any relevancy to being a potential part of a scoring model for screening new products. B, C, and D are unrelated and therefore would not be a viable option for this question.

Question 9

A sophisticated method (sometimes called trade-off analysis) for measuring consumer preferences for product concepts is called:
A) chi-square.
B) correlation analysis.
C) focus groups.
D) regression analysis.
E) conjoint analysis.

Accepted Answer

Conjoint analysis is a method used to measure consumer preferences for product concepts by presenting them with several product configurations and asking them to rank or rate their preferences. By analyzing the data collected, marketers can determine the relative importance of various product features and identify the optimal combination of features to meet consumers' needs and preferences. This approach is often considered more sophisticated than other methods as it simulates real-life purchase decisions and considers the trade-offs that consumers make when evaluating different product options.

Question 10

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.
A) chi-square
B) correlation analysis
C) focus groups
D) regression analysis
E) conjoint analysis

Accepted Answer

Conjoint analysis is specifically designed to analyze trade-offs between different attributes of a product or service. It is commonly used in market research to identify which combination of attributes is most appealing to consumers, and to determine the relative importance of each attribute in the purchasing decision.

Question 11

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?
A) Ireland.
B) United States.
C) Japan.
D) United Kingdom.
E) France.

Accepted Answer

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

Question 12

All of the following are factors that affect product penetration in the European market (according to a recent survey), EXCEPT:
A) cosmopolitanism.
B) number of locals in the market.
C) mobility.
D) percentage of children in the labor force.
E) percentage of women in the labor force.

Accepted Answer

The percentage of children in the labor force is not a factor that affects product penetration in the European market, according to the survey. The other factors listed (cosmopolitanism, number of locals in the market, mobility, percentage of women in the labor force) were identified as having an impact on product penetration.

Question 13

Which of the following are among the best sources for finding new product ideas?
A) company, customers, competition, and collaborators.
B) trade magazines, television, and the internet.
C) government statistics, demographic charts, and psychological profiles.
D) reverse engineering, industrial spying, and out-of-date patents.
E) rumors, stories, and intuition.

Accepted Answer

The best sources for finding new product ideas are those that are closest to the business, such as the company itself, its customers, competitors, and collaborators. These sources can provide insights into customer needs and preferences, as well as market trends and gaps. Trade magazines, television, and the internet can also be helpful, but they may not provide as specific or relevant information as the first set of sources. Government statistics, demographic charts, and psychological profiles can be useful for understanding market trends and consumer behavior, but they may not be as focused on product innovation. Reverse engineering, industrial spying, and out-of-date patents are unethical and illegal practices, and not recommended as sources for product ideas. Rumors, stories, and intuition may be intriguing, but they are not reliable sources of information for product innovation.

Question 14

Once new product ideas have been identified, the next logical step is to have the ideas _______________.
A) modeled
B) budgeted
C) screened
D) concept tested
E) test marketed

Accepted Answer

After identifying new product ideas, the next logical step is to screen them to evaluate their potential and feasibility before proceeding to further stages like concept testing or test marketing.

Question 15

A _________________ country is where a product is entered after initial introduction has taken place.
A) lag
B) low-profile
C) lead
D) high-profile
E) fast

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 16

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?
A) observability.
B) relative advantage.
C) compatibility.
D) complexity.
E) trialability.

Accepted Answer

Compatibility refers to how well the product fits with the existing values and attitudes of the individuals in the social system. Therefore, this question is best suited for the compatibility acceptance category.

Question 17

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.
A) European countries
B) global countries
C) advanced countries
D) developed countries
E) emerging market countries

Accepted Answer

Emerging market countries, which are often developing countries, tend to experience slower adoption rates compared to developed countries.

Question 18

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) observability.
B) relative advantage.
C) compatibility.
D) complexity.
E) trialability.

Accepted Answer

The characteristic of complexity refers to how difficult a product is to understand or use, therefore this question best fits with this key product characteristic.

Question 19

_______________________ are people who look beyond their immediate social surroundings and are not local in their opinions.
A) Domestics
B) Introverts
C) Negotiators
D) Cosmopolitans
E) Regionalists

Accepted Answer

Cosmopolitans are people who have a global perspective and are not limited by their immediate surroundings or traditional beliefs. They possess a willingness to embrace different views and cultures, making them broad-minded and tolerant individuals. Domestics, on the other hand, are those who prefer to stay within their own country or local region, and introverts are people who are more internally focused and may be hesitant to socialize with others. Negotiators are individuals who use communication skills to resolve conflicts, and regionalists are those who have strong loyalty to their specific region or locality.

Question 20

A _________________ country is where a product is first introduced.
A) lag
B) low-profile
C) lead
D) high-profile
E) fast

Accepted Answer

A lead country is where a product is first introduced.

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

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

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

Conjoint analysis is also referred to as _____________________.

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.

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.

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.

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

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

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

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?

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

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 _______________.

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

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?

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

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

A _________________ country is where a product is first introduced.