1. Which Category Makes up the First 2.5% of People Who Adopt a Product?

Chapter 11 Quiz 1. Which category makes up the first 2.5% of people who adopt a product? a. Innovators b. Early Majority c. Late Majority d. Laggards Answer: A 2. Which of the following is not a source of new-product ideas? a. Customers b. Employees c. Consultants d. Different industry distributors Answer: D 3. Which of these is not part of the considerations taken in the business analysis stage? a. Demand b. Look c. Cost d. Profitability Answer: B 4. How long does test marketing typically take? a. A couple of days b. A week c. A month d. A year or more Answer: D 5. “The more complex the product, the slower is its diffusion” refers to which product characteristic? a. Complexity b. Trialability c. Relative Advantage d. Compatibility Answer: A 6. What is the first stage in the product life cycle? a. Growth stage b. Introductory stage c. Maturity stage d. Decline stage Answer: B 7. Which stage contains high failure rates? a. Introductory Stage b. Growth Stage c. Maturity stage d. Diffusion stage Answer: A 8. Which of the following is a new Product Success factor? a. Ignoring customer wants. b. Vision of future market. c. Low leadership. d. Only a few mistakes in the product. Answer: B 9. What are the two approaches for new product development? a. Brainstorming and focus group b. Screening and test marketing c. Commercialization and idea generation d. Development and test marketing Answer: A 10. The four business analysis considerations are: a. Complexity, compatibility, relative advantage b. Innovators, early adopters, early majority, and late majority c. Demand, cost, sales, and profitability d. Production, trade announcements, customer advertising, and inventory buildup Answer: C 11. What is the first filter in the product development process? a. Concept test b. Commercialization c. Test marketing d. Screening Answer: D 12. The process by which the adoption of an innovation a. Screening b. Diffusion c. Production d. Brainstorming Answer: B 13. What is the second step to the new-product development process? a. Test marking b. Development c. Idea generation d. Commercialization Answer: C 14. WoodCurve is a small Etsy shop specializing in fanciful wood furniture, such as a bookshelf shaped like an inch-worm, and a bookshelf that looks like four teacups stacked inside each other. Scott makes each bookshelf and lists it on Etsy. a. Production Orientation b. Market Orientation c. Growth stage d. Diffusion Answer: A 15. The Product-centric Statement for Wal-Mart is that they sell items at a discount. The Customer-centric Statement for Wal-Mart would be? a. High quality b. Helps people save money c. Luxury products d. Excellent customer service Answer: B 16. The ultimate goal of a Sales-oriented firm is to: a. Help the environment b. Help society c. achieve profitability through sales volume d. Deliver high quality products Answer: C 17. Market-Oriented firms: a. Make a profit by creating customer value b. Achieve profitability through sales volume c. Do not care about sales d. Focus solely on sales Answer: A 18. The process by which the adoption of an innovation spreads is ____. a. Diffusion b. Innovation c. Adopting d. Laggards Answer: A 19. Which of the following is not part of commercialization? a. Ordering materials b. Production c. Inventory buildup d. Diffusion Answer: D 20. Which of the following about product failure is true? a. Products never fail b. Only badly planned products fail c. A large amount of developed and tested products fail d. Most products do not fail Answer: C