What are the major implications of the new-product development process and the diffusion process to marketing managers?
What will be an ideal response?
ANSWER: The funnel shape of the new-product development process indicates that many new product ideas are necessary to produce one successful new product. The new-product development process is sometimes illustrated as a decay curve with roughly half of the ideas approved at one stage rejected at the next stage. While the actual numbers vary widely among firms and industries, the relationship between the stages can be generalized. This reinforces the notion that an organized effort to generate any ideas from various sources is important for any firm that wishes to produce a continuing flow of new products. The major implication of the diffusion process to marketing managers is that the message may need to change over time. The targeted adopter and media may need to shift based on how various categories of adopters gather product information. A message developed for and targeted toward early adopters will not be perceived similarly by late majority adopters.
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Which of the following is a recurring item?
a. Equity in earnings of nonconsolidated subsidiaries b. Error of a prior period c. Discontinued operations d. Extraordinary gain e. Cumulative effect of change in accounting principle
A data set that has so many variables that simultaneous consideration of all variables is infeasible is which of the following?
A. Wide data B. Strong data C. Tall data D. Huge data
Giving somebody power or authority is referred to as
A. customer perception. B. customer turnoff. C. customer loyalty. D. empowerment.
Regarding a study of the shopping behavior of 20,000 online shoppers in Europe, which of the following statements is FALSE?
A. The "price-oriented bargain hunters" market segment preferred to shop at stores and rummage for bargains. B. Seven different segments were identified based on shopper needs. C. French shoppers most often fell into the "time-oppressed optimizers" segment. D. About 10 percent of Italians regularly purchase online. E. British shoppers were among the highest countries with "time-oppressed optimizers."