GB 350 Chapter 11 Exam Q&A
Concept test - ANSWER-Test to evaluate a new-product idea, usually before any
prototype has been created
Newer a product is, the greater the ________ is - ANSWER-Uncertainty
Test markets must always reflect what - ANSWER-The larger target audience
Test marketing usually takes how long - ANSWER-A year or more
Diffusion - ANSWER-Process by which product adoption spreads
Innovators - ANSWER-People eager to try new ideas and products, almost as an
obsession, not concerned with influencing others
Early adopters - ANSWER-Desire to earn the respect of others as market mavens
Early majority - ANSWER-Weighs pros and cons before adopting and rely on word-
of-mouth from important others
Late majority - ANSWER-Adopt primarily because most of their friends and families
have
Laggards - ANSWER-Motivated by price promotions and personal selling, typically
after product is focus of marketing efforts
Introduction stage biggest communication challenge - ANSWER-Stimulating primary
demand
Growth stage biggest communication challenge - ANSWER-Generate selective
demand
Why would the price of a product increase after decline stage - ANSWER-Because
niche markets have developed and supply is limited
New products are new to their ____ and/or _____ - ANSWER-Market ; seller
New to the world products create what - ANSWER-Entirely new market and are the
smallest category of new products
Product marketing - ANSWER-Helping existing customers understand your products
and features and engage with them
Concept test - ANSWER-Test to evaluate a new-product idea, usually before any
prototype has been created
Newer a product is, the greater the ________ is - ANSWER-Uncertainty
Test markets must always reflect what - ANSWER-The larger target audience
Test marketing usually takes how long - ANSWER-A year or more
Diffusion - ANSWER-Process by which product adoption spreads
Innovators - ANSWER-People eager to try new ideas and products, almost as an
obsession, not concerned with influencing others
Early adopters - ANSWER-Desire to earn the respect of others as market mavens
Early majority - ANSWER-Weighs pros and cons before adopting and rely on word-
of-mouth from important others
Late majority - ANSWER-Adopt primarily because most of their friends and families
have
Laggards - ANSWER-Motivated by price promotions and personal selling, typically
after product is focus of marketing efforts
Introduction stage biggest communication challenge - ANSWER-Stimulating primary
demand
Growth stage biggest communication challenge - ANSWER-Generate selective
demand
Why would the price of a product increase after decline stage - ANSWER-Because
niche markets have developed and supply is limited
New products are new to their ____ and/or _____ - ANSWER-Market ; seller
New to the world products create what - ANSWER-Entirely new market and are the
smallest category of new products
Product marketing - ANSWER-Helping existing customers understand your products
and features and engage with them
