5 Written Questions
5 Matching Questions
- Market testing
- business goods
- Dynamically continuous
- continuous innovation
- a turning the concept into a demonstrable prototype capable of being produced.
- b innovations disrupt consumer's normal routine but do not require totally new learning (marketing activities focus on stressing benefits and product differences to the consumer)
- c are used in the production of other products for ultimate consumers
- d no new learning by consumers is required (marketing emphasis, therefore, is on generating awareness and obtaining distribution)
- e exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy. Often a product is developed, tested, refined, and tested again to obtain consumer reactions through either test marketing or simulated purchase laboratories.
5 Multiple Choice Questions
- a revised item or a completely new innovation
- items that a consumer makes a special effort to search out and buy
- specifying the features of the product and the marketing strategy needed to commercialize it and making necessary financial projections (sales, profit, market share, etc.).
- developing a pool of concepts as candidates for new products generated by customer suggestions, employee suggestions, basic R & D activity and competitive offerings.
- the number of product lines offered by a company. Students should have a number of different examples.
5 True/False Questions
derived demand → sales of industrial products that frequently result from the sale of consumer goods
product line → a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same type of outlets, or fall within a given price range
nondurable good → a good that last over an extended period of time like a car or fridge
Consumer goods → products purchased by the ultimate consumer
newness in legal terms → specifying the features of the product and the marketing strategy needed to commercialize it and making necessary financial projections (sales, profit, market share, etc.).