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Exam 8: Product I: Innovation and New Product Development

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Question 51

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________ are consumer products for which a consumer either has little awareness or interest until a need arises. These products require a lot of advertising, personal selling, and other marketing efforts.

A) Specialty products
B) MRO products
C) Unsought products
D) Shopping products
E) Staple products

F) A) and C)
G) C) and D)

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Question 52

Multiple Choice

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At a retail store, the display racks on which clothes are hung, the shelving, and the cash registers are all examples of ________.

A) accessory equipment
B) shopping products
C) capital equipment
D) component parts
E) MRO products

F) C) and E)
G) B) and E)

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Question 53

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A consumer doesn't have to learn anything new to use a(n) ________.

Which of the following is the best example of a convenience product?

One of the advantages of ________ is the ability to evaluate a product and its marketing program before full-scale production marketing.

Crowdfunding and value co-creation are two names for the same process in new product development.

Divergent and convergent thinking are two components of the ________ process.

From a marketing standpoint, an innovation is anything that customers perceive as new and different.

For an amusement park, concession food stands and the amusement rides themselves are examples of ________.

Marketers classify innovations into three categories based on their degree of newness. Explain these categories, identifying the role the consumer has in each.

Idea generation is also known as the ideation phase of product development.

A(n) ________ is a good or service for which consumers will spend time and effort gathering information on price, product attributes, and product quality.

A product has three distinct layers. The most basic layer is the ________, which consists of all the benefits the product will provide for consumers or business customers.

We consume ________ in the short term rather than the long term.

Traffic in major metropolitan areas is too often brought to a standstill because accident investigators must painstakingly measure skid marks and other evidence to determine responsibility for the crash. After a police chief missed an important meeting because of a wreck investigation, he was pleased to find an article about a company that markets a new high-tech crash investigation system that shortens the time required for these investigations by 40 percent. In which stage of the adoption process is the police chief?

Bossa Nova founder and CEO Alton Johnson was fascinated with the fruits of Brazil, a fascination that led him to develop juices with these new fruit flavors for the American market. Johnson's interest in Brazilian fruits is an example of ________.

Procter & Gamble introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Foods became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This act illustrates ________.

For the business market, a multipurpose absorbent used to clean up any type of spills would be an example of a(n) ________.

The need to apply for a patent would most likely arise during which phase of new product development?

The purchase of a shopping product typically involves habitual consumer decision making.