Marketing Final Exam

Be met c develop every product for potential

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Unformatted text preview: he product development process right. PTS: 1 REF: 179 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 45. The main goal of the global product development process is to: a. come up with a single standard product or product line suitable for all global markets b. expand the number of different new-product offerings so that individual country needs are more likely to be met c. develop every product for potential worldwide distribution and adaptation to other countries d. come up with new-product ideas in the United States and use global markets as test markets e. repeat the steps in the process with marketing teams in each and every foreign country targeted ANS: C Multinational companies develop each product for potential worldwide usage, with minor unique requirements incorporated. PTS: 1 REF: 179 OBJ: 11-3 TOP: AACSB Reflective Thinking KEY: CB&E Model Product | CB&E Model International Perspective MSC: BLOOMS Analysis 46. A product that is perceived as new by a potential adopter, whether the product is “new to the world” or simply new to the individual, is called a(n): a. innovation b. diffusion c. discontinuous product d. laggard e. simulated new product ANS: A An innovation is a product perceived as new by a potential adopter. PTS: 1 REF: 179 Thinking KEY: CB&E Model Product OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Knowledge 47. Because Laurence did not know companies actually sold pet insurance so that owners could pay for operations on their pets in the event of a sickness or accident, he paid almost $4,000 to have his dog’s broken hip replaced. Once he discovered such a product existed, he perceived the insurance to be a(n): a. heterogeneous shopping product b. diffusion c. market laggard d. product diversification e. innovation ANS: E An innovation is a product perceived as new by a potential adopter. PTS: 1 REF: 179 Thinking KEY: CB&E Model Product OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Application 48. The process by which the adoption of an innovation spreads is referred to as: a. diffusion b. circulation c. transmission d. dissemination e. dispersion ANS: A This is the definition of diffusion. PTS: 1 REF: 179 Thinking KEY: CB&E Model Product OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Knowledge 49. The process by which the adoption of 3D HD televisions spreads is an example of: a. test marketing b. diffusion c. product dissemination d. innovative dispersal e. marketing communication ANS: B Diffusion is the process by which the adoption of an innovation spreads. PTS: 1 REF: 179 Thinking KEY: CB&E Model Product OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Knowledge 50. _____ are eager to try new ideas and products. They typically have higher incomes, are better educated, and are more cosmopolitan than other categories of adopters. a. Early adopters b. Innovators c. Early majority d. Late majority e. Laggards ANS: B These are characteristics of innovators, who a...
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