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1. What is the rela- Most important objective for any company: Hold position in the marketplace
tionship between against competitors then it must put together a new product strategy, a detailed
corporate strat- plan assembled by a group to achieve agreed-upon objectives
egy and new
product develop-
ment?
2. Product Line A group of similar products serving the same market group
3. What is Feasibili- the practicality or possibility of carrying out an idea
ty?
4. What is Brain- Using a group to think aloud. Can generate many ideas, but most of them may not
storming? be feasible
5. Focus group a group usually composed of "target" customers who evaluate product ideas or
concepts
6. What is a new Each team member has a unique background and brings a very different approach
product develop- to problem solving. May involve research and development, Inventors, Suppliers,
ment team, and Food scientists, Market research,
how does it func- and Advertising.
tion?
7. Bench-top for- a small batch suitable to control ingredients and to produce a product that can be
mulation tested usually consists of a few pounds or kilograms
8. Pilot plant formu- A batch larger than bench-top but smaller than final manufacturing size that
lation simulates actual product manufacturing. generally is 25 to 100 pounds.
9. Product Sensory a measurement of smell, appearance, taste, and texture of a product to determine
evaluation what evaluators think
10. a manufacturing plant where the actual product will be produced.
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Commercial op-
eration
11. Test market A place, city or region, where the new product is introduced to the supermarket.
New product is treated like a finished product
12. National product will involve the entire company. success in a test market indicates that a product
introduction should do well in the national market, but it does not guarantee it
13. Consumers make the final judgment on a new product
14. 5 D's of market Definition of research problem
research Design of study
Data collection
Data analysis
Documentation, interpretation, application
15. Reliability - Consistency of a set of measurements or measuring instrument
- whether the measurements of the same instrument give the same measurement
(test-retest)
- whether two independent participants give similar scores (inter-rater reliability)
16. Validity whether the measurement instrument really (and to which extent) measures what
was meant to be measured
17. Representativity to which extent a sample covers the population
18. Systematization Collecting data- includes Secondary data and Primary data
of data collection
methods
19. Secondary Data Exist already- Reanalyzing data, that were collected primarily for a different re-
search purpose. Internal data and External data
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20. Types of Inter- by telephone
views written (including online)
special types
omnibus surveys
multiple-client surveys
panels
21. Qualitative meth- Explorative interview
ods Depth interview
Focus groups
Group discussion
Projective techniques
Associative techniques
Qualitative observation
22. Quantitative Face-to-face interview
methods Written questionnaires
Phone interview
Quantitative observations
Panel
Online questionnaires
Choice test
23. Observation a method to gather data which is focusing on the environment perceivable with the
senses. Characterized by:
- a specifically defined research area
- an organized schedule / operation
- a specific research target
- sensually perceivable objectives / actions
- a receptive attitude during the observation
- a registration of current events
24. Application
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Product test
Store test
Market test
Advertisement research
25. Panel data (also known as longitudinal data) consist of multiple entities, where each entity is
observed at two or more time periods
26. S-O-R-theories Explain consumer behavior
Stimulus
Organism
Response
27. S- Stimulus Input variable (directly observable)
Social environment of person (opinion leader, peer groups)
Economic environment (prices of retailer)
28. O- Organism internal processes- Activating Processes (Emotion, Motivation, Attitude)
Cognitive Processes (Perception, Learning, Thinking)
29. R- Response Output variable- Purchase of product A in quantity X at retailer Y at point in time Z
30. Explain the pur- A model using Hypothetical constructs. Flows Between:
chase decision 1. Input variable: Information from marketing of companies and from social envi-
model by Howard ronment of consumer
and Sheth 2. Perception constructs: Search behavior, Stimulus ambiguity, Attention, Percep-
tion bias
3. Learning constructs: Degree of
security, Decision criteria, Brand knowledge, Satisfaction
4. Output variable: Purchase intention, Purchase, Attention
31. Activating Inner excitement and tension/ Driver of behavior
Processes
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UPDATE Page 1 of 268 COMPLETE SOLUTIONS
All versions Exams: AGB 456 Midterm Questions & Answers
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1. What is the rela- Most important objective for any company: Hold position in the marketplace
tionship between against competitors then it must put together a new product strategy, a detailed
corporate strat- plan assembled by a group to achieve agreed-upon objectives
egy and new
product develop-
ment?
2. Product Line A group of similar products serving the same market group
3. What is Feasibili- the practicality or possibility of carrying out an idea
ty?
4. What is Brain- Using a group to think aloud. Can generate many ideas, but most of them may not
storming? be feasible
5. Focus group a group usually composed of "target" customers who evaluate product ideas or
concepts
6. What is a new Each team member has a unique background and brings a very different approach
product develop- to problem solving. May involve research and development, Inventors, Suppliers,
ment team, and Food scientists, Market research,
how does it func- and Advertising.
tion?
7. Bench-top for- a small batch suitable to control ingredients and to produce a product that can be
mulation tested usually consists of a few pounds or kilograms
8. Pilot plant formu- A batch larger than bench-top but smaller than final manufacturing size that
lation simulates actual product manufacturing. generally is 25 to 100 pounds.
9. Product Sensory a measurement of smell, appearance, taste, and texture of a product to determine
evaluation what evaluators think
10. a manufacturing plant where the actual product will be produced.
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UPDATE Page 2 of 268 COMPLETE SOLUTIONS
All versions Exams: AGB 456 Midterm Questions & Answers
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Commercial op-
eration
11. Test market A place, city or region, where the new product is introduced to the supermarket.
New product is treated like a finished product
12. National product will involve the entire company. success in a test market indicates that a product
introduction should do well in the national market, but it does not guarantee it
13. Consumers make the final judgment on a new product
14. 5 D's of market Definition of research problem
research Design of study
Data collection
Data analysis
Documentation, interpretation, application
15. Reliability - Consistency of a set of measurements or measuring instrument
- whether the measurements of the same instrument give the same measurement
(test-retest)
- whether two independent participants give similar scores (inter-rater reliability)
16. Validity whether the measurement instrument really (and to which extent) measures what
was meant to be measured
17. Representativity to which extent a sample covers the population
18. Systematization Collecting data- includes Secondary data and Primary data
of data collection
methods
19. Secondary Data Exist already- Reanalyzing data, that were collected primarily for a different re-
search purpose. Internal data and External data
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UPDATE Page 3 of 268 COMPLETE SOLUTIONS
All versions Exams: AGB 456 Midterm Questions & Answers
Study online at https://quizlet.com/_9djnj7
20. Types of Inter- by telephone
views written (including online)
special types
omnibus surveys
multiple-client surveys
panels
21. Qualitative meth- Explorative interview
ods Depth interview
Focus groups
Group discussion
Projective techniques
Associative techniques
Qualitative observation
22. Quantitative Face-to-face interview
methods Written questionnaires
Phone interview
Quantitative observations
Panel
Online questionnaires
Choice test
23. Observation a method to gather data which is focusing on the environment perceivable with the
senses. Characterized by:
- a specifically defined research area
- an organized schedule / operation
- a specific research target
- sensually perceivable objectives / actions
- a receptive attitude during the observation
- a registration of current events
24. Application
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Product test
Store test
Market test
Advertisement research
25. Panel data (also known as longitudinal data) consist of multiple entities, where each entity is
observed at two or more time periods
26. S-O-R-theories Explain consumer behavior
Stimulus
Organism
Response
27. S- Stimulus Input variable (directly observable)
Social environment of person (opinion leader, peer groups)
Economic environment (prices of retailer)
28. O- Organism internal processes- Activating Processes (Emotion, Motivation, Attitude)
Cognitive Processes (Perception, Learning, Thinking)
29. R- Response Output variable- Purchase of product A in quantity X at retailer Y at point in time Z
30. Explain the pur- A model using Hypothetical constructs. Flows Between:
chase decision 1. Input variable: Information from marketing of companies and from social envi-
model by Howard ronment of consumer
and Sheth 2. Perception constructs: Search behavior, Stimulus ambiguity, Attention, Percep-
tion bias
3. Learning constructs: Degree of
security, Decision criteria, Brand knowledge, Satisfaction
4. Output variable: Purchase intention, Purchase, Attention
31. Activating Inner excitement and tension/ Driver of behavior
Processes
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