Marketing Final Exam

And market needs ans t pts 1 top aacsb reflective

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Unformatted text preview: tive MSC: BLOOMS Comprehension 16. The Internet offers a fast, cost-effective way to conduct test marketing. ANS: T PTS: 1 REF: 178 TOP: AACSB Technology KEY: CB&E Model Product | CB&E Model Online/Computer Comprehension OBJ: 11-2 MSC: BLOOMS 17. The most important factor in successful new-product introductions is a good match between product characteristics and market needs. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Evaluation REF: 178 OBJ: 11-2 KEY: CB&E Model Product 18. Increasing globalization of markets and competition provides a reason for multinational firms to consider new-product development from a worldwide perspective. ANS: TOP: KEY: MSC: T PTS: 1 REF: 179 OBJ: 11-3 AACSB Reflective Thinking CB&E Model Product | CB&E Model International Perspective BLOOMS Comprehension 19. Adaptation is the process by which the adoption of an innovation spreads. ANS: F This process is referred to as diffusion. PTS: 1 REF: 179 Thinking KEY: CB&E Model Product OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Knowledge 20. Consumers described as laggards tend to rely on group norms when deciding to adopt an innovation. ANS: F Laggards do not rely on group norms, and their independence is rooted in their ties to tradition. PTS: 1 REF: 180 Thinking KEY: CB&E Model Product OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Comprehension 21. The Sumatra Coffee Company has two new products. One is a simple hand-cranked coffee grinder. The other is a combination grinder and brewer that also can be used to dispense hot milk. Of these two, the hand-cranked grinder will probably be diffused more quickly because it is less complex. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Application REF: 180 OBJ: 11-4 KEY: CB&E Model Product 22. Procter & Gamble is introducing a new fabric softener dispenser that consumers stick to the inside of the dryer drum and plans to send consumers free samples in the mail. This strategy will likely increase the rate of adoption of the new product. ANS: T This will encourage trial, which can increase the rate of adoption. PTS: 1 REF: 180 Thinking KEY: CB&E Model Product OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Application 23. The product life cycle is a biological metaphor that traces the stages of a product’s acceptance, from its introduction (birth) to its decline (death). ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Knowledge REF: 181 OBJ: 11-5 KEY: CB&E Model Product 24. The growth stage is the first stage of the product life cycle. ANS: F The introductory stage is the first stage. PTS: 1 REF: 181 Thinking KEY: CB&E Model Product OBJ: 11-5 TOP: AACSB Reflective MSC: BLOOMS Comprehension 25. Increasing competition, aggressive brand advertising, and healthy profits are all characteristics found in the introductory stage of the product life cycle. ANS: F This describes the growth stage. PTS: 1 REF: 182 Thinking KEY: CB&E Model Product OBJ: 11-5 TOP: AACSB Reflect...
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