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The Amazon Echo is an example of ________because when it was introduced, nothing like it existed on the market.
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Terms in this set (20)
Dora created a virtual prototype of her new line of handmade jewelry on a website to show to consumers. She realizes there are multiple lines of jewelry on the market and hers will need to be unique. What important question should she be asking at this point?Will this jewelry line satisfy an unmet need?Ana is using a test model of her firm's new glow-in-the-dark nail polish to see whether it works according to the design specifications. Ana is engaged inalpha testing.When a global firm turns to its subsidiaries in less-developed markets for new product ideas, the firm is engaged inreverse innovationSuppose you work for an advertising agency and attend a meeting at which everyone is asked to generate ideas for naming a new beach resort. You are engaged in ________, a form of new-idea generation.brainstormingYour boss has just brought a competitor's office workstation made of recycled materials to your new-product development team. She asks the team to analyze the desk and create an improved product that does not infringe on the competitor's patents. What task has your boss assigned to you?reverse engineeringWhat is the fourth stage in the product life cycle?DeclineIn the United States, most consumer-packaged goods found in grocery and discount stores are already in the ________ stage of the product life cycle.maturityWhen Chloe, an athletic trainer, invented a new heart monitor for runners, she could expect during the introductory stage thatsales would be low and profits nonexistent, but she would attract running equipment innovators.During the introduction stage of a product's life cycle, typical consumers areinnovatorsWhich statement about the growth stage of the product life cycle is true?Firms attempt to reach new consumers by studying their preferences, which enable them to segment the market more precisely.