Marketing Final BCOR 2201 || All Solved.
skew correct answers Barcode on products
innovation correct answers Identify a need (reason), a match between a need and a solution,
usually a companies top priority - create new products to fulfill needs
How we classify new products correct answers Convenience, shopping, specialty, unsought
convenience correct answers Inexpensive, many outlets, promo: price availability and awareness
stressed, frequent purchases
Ex: toothpaste, cake mix, soap, detergent
shopping correct answers often has alternative prices, fairly expensive, large # of selective
outlets, promo: differentiation from competitors stressed, customers prefer specific brands but
will switch, infrequent purchases
Ex: tv, computers, Jeans
specialty correct answers To seek out, very expensive, very limited, promo: uniqueness of
brand/status stressed, very brand loyal, infrequent purchases
Ex: rolls-Royce, Rolex watches
continuous innovation correct answers requires no new learning by consumers; gain consumer
awareness and wide distribution
Ex: new improved shaver or detergent (old)
dynamically continuous innovation correct answers disrupts consumer's normal routine but does
not require totally new learning, advertise points of difference/benefits to consumers
Ex: electric toothbrush, CDs (new but not too new)
, discontinuous innovation correct answers requires new learning and consumption patterns by
consumers, educate consumers through product trial and personal selling
Ex: VCR, digital video recorder, electric car (that new new)
Why do we need a development process? correct answers Helps us to mitigate risk by
prioritizing products with a greater chance of market success
New Product Development correct answers refers to original products, product improvements,
product modifications, and new brands developed from the firm's own research and development
New Product Development Process correct answers A seven-phase process for introducing
products
1. New-product strategy
2. Idea generation
3. Screening and evaluation
4. Business analysis
5. Development
6. Market testing
7. Commercialization
1. new-product strategy correct answers why new products? - SBU Investment
links the new-product development process with the objectives of the marketing department, the
business unit, and the corporation
protocol statement correct answers identifies target market, customer's needs, product
description, and product benefit before product development begins
Ex: Apple Watch (makes products for specific groups, connected throughout, off phone)
skew correct answers Barcode on products
innovation correct answers Identify a need (reason), a match between a need and a solution,
usually a companies top priority - create new products to fulfill needs
How we classify new products correct answers Convenience, shopping, specialty, unsought
convenience correct answers Inexpensive, many outlets, promo: price availability and awareness
stressed, frequent purchases
Ex: toothpaste, cake mix, soap, detergent
shopping correct answers often has alternative prices, fairly expensive, large # of selective
outlets, promo: differentiation from competitors stressed, customers prefer specific brands but
will switch, infrequent purchases
Ex: tv, computers, Jeans
specialty correct answers To seek out, very expensive, very limited, promo: uniqueness of
brand/status stressed, very brand loyal, infrequent purchases
Ex: rolls-Royce, Rolex watches
continuous innovation correct answers requires no new learning by consumers; gain consumer
awareness and wide distribution
Ex: new improved shaver or detergent (old)
dynamically continuous innovation correct answers disrupts consumer's normal routine but does
not require totally new learning, advertise points of difference/benefits to consumers
Ex: electric toothbrush, CDs (new but not too new)
, discontinuous innovation correct answers requires new learning and consumption patterns by
consumers, educate consumers through product trial and personal selling
Ex: VCR, digital video recorder, electric car (that new new)
Why do we need a development process? correct answers Helps us to mitigate risk by
prioritizing products with a greater chance of market success
New Product Development correct answers refers to original products, product improvements,
product modifications, and new brands developed from the firm's own research and development
New Product Development Process correct answers A seven-phase process for introducing
products
1. New-product strategy
2. Idea generation
3. Screening and evaluation
4. Business analysis
5. Development
6. Market testing
7. Commercialization
1. new-product strategy correct answers why new products? - SBU Investment
links the new-product development process with the objectives of the marketing department, the
business unit, and the corporation
protocol statement correct answers identifies target market, customer's needs, product
description, and product benefit before product development begins
Ex: Apple Watch (makes products for specific groups, connected throughout, off phone)
