Marketing Final Exam

Of fishing lures want to have the newest most

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Unformatted text preview: ess? a. Commercialization b. Idea generation c. Idea screening d. Concept testing e. Product development ANS: A The final stage of the new-product development process is commercialization, the decision to market a product. PTS: 1 REF: 178 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Application 104. Refer to Rapala. Because buyers of fishing lures want to have the newest, most technologically improved lure, most of Rapala’s customers would more than likely fall into the _____ category of adopters. a. laggards b. prompt diffusers c. early adopters d. innovators e. early majority ANS: D Innovators are the first 2.5 percent of all those who adopt the product. PTS: 1 REF: 179 Thinking KEY: CB&E Model Customer OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Application 105. Refer to Rapala. The degree to which the newest lures are perceived as superior to earlier models refers to their _____, a characteristic used to predict the rate of adoption. a. trialability b. observability c. relative advantage d. differentiation capability e. complexity ANS: C Relative advantage is the degree to which a product is perceived as superior to existing substitutes. PTS: 1 REF: 180 Thinking KEY: CB&E Model Product OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Application 106. Refer to Rapala. Fishing lures are most likely in the _____ stage of their product life cycle. a. saturation b. maturity c. growth d. innovation e. decline ANS: B One of the characteristics of products in the maturity stage is the addition of annual models. PTS: 1 REF: 182 Thinking KEY: CB&E Model Product OBJ: 11-5 TOP: AACSB Reflective MSC: BLOOMS Application Going to the Dogs Demand for pet services is greatly increasing across the United States. In fact, Americans will spend nearly $44 billion dollars on their pets this year. Many American dog owners are seeking out “doggy day cares” that are more like a resort or spa than an ordinary kennel for their canine companion. Day care services for dogs now include toy rooms, outside play areas, doggie massages, treadmills, swimming pools, and cushy beds for nap time. Pet owners can watch their pets via a webcam, and some doggy day cares have a phone where owners can talk to their dogs when they feel their pets need to hear their voices. Rates vary from $20 to $45 a day per pet, depending on the amenities that the pet owner chooses. 107. Refer to Going to the Dogs. The doggy day care center is more like a dog resort than a dog kennel. A dog day care represents what type of new product? a. Competitive innovation b. Discontinuous innovation c. New product line d. Revision of existing product e. Higher-priced product ANS: D The dog day care is an improvement on the standard dog-boarding kennel and, as such, is a revision of an existing product. PTS: 1 REF: 172 Thinking KEY: CB&E Model Product OBJ: 11-1 TOP: AACSB Reflective MSC: BLOOMS Application 108. Refer to Going to the Dogs. Suppose that before opening t...
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This document was uploaded on 09/29/2013.

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