BUS 360 Ch 12 Quiz Questions with Correct Answers Latest Update 2025/2026
Which term refers to the process by which ideas get transformed into new offerings, including
products, services, processes, and branding concepts that will help firms grow?
a. marketing
b. innovation
c. strategic planning
d. concept testing
e. product development - Answers b. innovation
When Amazon created the Echo, smart speakers that respond to voice commands and connect
via Bluetooth, the most likely reason was
a. to adapt to changing customer needs.
b. to combat market saturation.
c. to diversify risk.
d. to respond to fashion cycles.
e. to improve business relationships. - Answers a. to adapt to changing customer needs.
Felix has made it a company-wide goal that a specific percentage of yearly sales must come
from new products. Felix is attempting to
a. respond to fashion cycles.
b. change customer preferences.
c. improve business relationships.
d. hedge against market saturation.
e. manage risk through diversification. - Answers e. manage risk through diversification.
Disney recently released new versions of its classic movies Aladdin and The Lion King. This is
an example of new product innovation based on
a. a fashion cycle.
b. diversification.
c. market saturation.
, d. innovation.
e. changing customer needs. - Answers a. a fashion cycle.
Taxes were historically prepared on paper by consumers or professionals. Now, tax-preparation
software programs are in wide use by taxpaying consumers and small businesses. This shows
the process of
a. adaptation.
b. fashion cycles.
c. market segmentation.
d. the product life cycle.
e. diffusion of innovation. - Answers e. diffusion of innovation.
Tide Pods® are an example of a __________Blank product because their introduction to the
market radically changed consumer behavior and preferences and the entire competitive
landscape.
a. fad
b. pioneer
c. early adopter
d. imitator
e. laggard - Answers b. pioneer
As ________Blank, pioneers have the advantage of creating a new market or product category,
establishing a commanding initial market share lead.
a. laggards
b. imitators
c. first movers
d. fashion cycles
e. early adopters - Answers c. first movers
Kyle is highly knowledgeable about new developments in computer technology, since he reads
everything he can find about the subject. Typically, being the first to try out new computer parts
and models, he would be classified ________Blank in terms of the diffusion of innovation curve.
Which term refers to the process by which ideas get transformed into new offerings, including
products, services, processes, and branding concepts that will help firms grow?
a. marketing
b. innovation
c. strategic planning
d. concept testing
e. product development - Answers b. innovation
When Amazon created the Echo, smart speakers that respond to voice commands and connect
via Bluetooth, the most likely reason was
a. to adapt to changing customer needs.
b. to combat market saturation.
c. to diversify risk.
d. to respond to fashion cycles.
e. to improve business relationships. - Answers a. to adapt to changing customer needs.
Felix has made it a company-wide goal that a specific percentage of yearly sales must come
from new products. Felix is attempting to
a. respond to fashion cycles.
b. change customer preferences.
c. improve business relationships.
d. hedge against market saturation.
e. manage risk through diversification. - Answers e. manage risk through diversification.
Disney recently released new versions of its classic movies Aladdin and The Lion King. This is
an example of new product innovation based on
a. a fashion cycle.
b. diversification.
c. market saturation.
, d. innovation.
e. changing customer needs. - Answers a. a fashion cycle.
Taxes were historically prepared on paper by consumers or professionals. Now, tax-preparation
software programs are in wide use by taxpaying consumers and small businesses. This shows
the process of
a. adaptation.
b. fashion cycles.
c. market segmentation.
d. the product life cycle.
e. diffusion of innovation. - Answers e. diffusion of innovation.
Tide Pods® are an example of a __________Blank product because their introduction to the
market radically changed consumer behavior and preferences and the entire competitive
landscape.
a. fad
b. pioneer
c. early adopter
d. imitator
e. laggard - Answers b. pioneer
As ________Blank, pioneers have the advantage of creating a new market or product category,
establishing a commanding initial market share lead.
a. laggards
b. imitators
c. first movers
d. fashion cycles
e. early adopters - Answers c. first movers
Kyle is highly knowledgeable about new developments in computer technology, since he reads
everything he can find about the subject. Typically, being the first to try out new computer parts
and models, he would be classified ________Blank in terms of the diffusion of innovation curve.
