BCOR 2201 Marketing Exam Questions
with Verified Answers
skew - ✔✔Barcode on products
innovation - ✔✔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 - ✔✔Convenience, shopping, specialty, unsought
convenience - ✔✔Inexpensive, many outlets, promo: price availability and awareness stressed,
frequent purchases
Ex: toothpaste, cake mix, soap, detergent
shopping - ✔✔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 - ✔✔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 - ✔✔requires no new learning by consumers; gain consumer awareness
and wide distribution
Ex: new improved shaver or detergent (old)
, dynamically continuous innovation - ✔✔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 - ✔✔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? - ✔✔Helps us to mitigate risk by prioritizing products
with a greater chance of market success
New Product Development - ✔✔refers to original products, product improvements, product
modifications, and new brands developed from the firm's own research and development
New Product Development Process - ✔✔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 - ✔✔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 - ✔✔identifies target market, customer's needs, product description, and
product benefit before product development begins
with Verified Answers
skew - ✔✔Barcode on products
innovation - ✔✔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 - ✔✔Convenience, shopping, specialty, unsought
convenience - ✔✔Inexpensive, many outlets, promo: price availability and awareness stressed,
frequent purchases
Ex: toothpaste, cake mix, soap, detergent
shopping - ✔✔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 - ✔✔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 - ✔✔requires no new learning by consumers; gain consumer awareness
and wide distribution
Ex: new improved shaver or detergent (old)
, dynamically continuous innovation - ✔✔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 - ✔✔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? - ✔✔Helps us to mitigate risk by prioritizing products
with a greater chance of market success
New Product Development - ✔✔refers to original products, product improvements, product
modifications, and new brands developed from the firm's own research and development
New Product Development Process - ✔✔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 - ✔✔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 - ✔✔identifies target market, customer's needs, product description, and
product benefit before product development begins
