Texas Tech University



Chapter 11 QuizWhich category makes up the first 2.5% of people who adopt a product?InnovatorsEarly MajorityLate MajorityLaggardsAnswer: AWhich of the following is not a source of new-product ideas?CustomersEmployeesConsultantsDifferent industry distributorsAnswer: DWhich of these is not part of the considerations taken in the business analysis stage?DemandLookCostProfitabilityAnswer: BHow long does test marketing typically take?A couple of daysA weekA monthA year or moreAnswer: D“The more complex the product, the slower is its diffusion” refers to which product characteristic?ComplexityTrialabilityRelative AdvantageCompatibilityAnswer: AWhat is the first stage in the product life cycle?Growth stageIntroductory stageMaturity stageDecline stageAnswer: BWhich stage contains high failure rates?Introductory StageGrowth StageMaturity stageDiffusion stageAnswer: AWhich of the following is a new Product Success factor?Ignoring customer wants.Vision of future market.Low leadership.Only a few mistakes in the product.Answer: BWhat are the two approaches for new product development?Brainstorming and focus groupScreening and test marketingCommercialization and idea generationDevelopment and test marketingAnswer: AThe four business analysis considerations are:Complexity, compatibility, relative advantageInnovators, early adopters, early majority, and late majorityDemand, cost, sales, and profitabilityProduction, trade announcements, customer advertising, and inventory buildupAnswer: CWhat is the first filter in the product development process?Concept testCommercializationTest marketingScreeningAnswer: DThe process by which the adoption of an innovationScreeningDiffusionProductionBrainstormingAnswer: BWhat is the second step to the new-product development process?Test markingDevelopmentIdea generationCommercializationAnswer: CWoodCurve is a small Etsy shop specializing in fanciful wood furniture, such as a bookshelf shaped like an inch-worm, and a bookshelf that looks like four teacups stacked inside each other. Scott makes each bookshelf and lists it on Etsy.Production OrientationMarket OrientationGrowth stageDiffusionAnswer: AThe Product-centric Statement for Wal-Mart is that they sell items at a discount. The Customer-centric Statement for Wal-Mart would be?High qualityHelps people save moneyLuxury productsExcellent customer serviceAnswer: BThe ultimate goal of a Sales-oriented firm is to:Help the environmentHelp societyachieve profitability through sales volumeDeliver high quality productsAnswer: CMarket-Oriented firms:Make a profit by creating customer valueAchieve profitability through sales volumeDo not care about salesFocus solely on salesAnswer: AThe process by which the adoption of an innovation spreads is ____.DiffusionInnovationAdoptingLaggardsAnswer: AWhich of the following is not part of commercialization?Ordering materialsProductionInventory buildupDiffusionAnswer: DWhich of the following about product failure is true?Products never failOnly badly planned products failA large amount of developed and tested products failMost products do not failAnswer: C ................
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