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  • 1. Top 10 Learning Questions
    Chapter 20
    Introducing New Market Offerings Marketing Mangement
    Philip Kotler , Kevin Lane Keller 13th Edition
    PaoVirata
    September 2011
    Prof. Bong De Ungria
    pRUNSViRATA
    www.prunsvirata.blogspot.com
  • 2. 1. Which of the following is part of the Seven Ways to Draw New Ideas from Your Customers ?
    A. Observe how your customers are using your website
    B. Ask your customers about their problems with your sales department
    C. Ask your customers about your competitors
    D. Use a management advisory board to comment on your customer’s ideas
    E. Encourage or challenge your customers to change or improve your product
    www.prunsvirata.blogspot.com
  • 3. Managing the Development Process : IDEASConcept 1 – IDEA GENERATIONSeven Ways to Draw New Ideas From Customers
    Observe how your customers are using your product
    Ask your customers about their problems with your products
    Ask your customers about their dream products
    Use a customer advisory board to comment on your company’s ideas
    Use Web sites for new ideas
    Form a brand community of enthusiasts who discuss your product
    Encourage or challenge your customers to change or improve your product
    www.prunsvirata.blogspot.com
  • 4. Encouraging or challenging your customers to improve your product is one of the best source of great ideas since it came directly from the end users itself.
    Form a brand community of enthusiasts who discuss your product
    Encourage or challenge your customers to change or improve your product
    www.prunsvirata.blogspot.com
  • 5. 1. Which of the following is part of the Seven Ways to Draw New Ideas from Your Customers ?
    A. Observe how your customers are using your website
    B. Ask your customers about their problems with your sales department
    C. Ask your customers about your competitors
    D. Use a management advisory board to comment on your customer’s ideas
    E. Encourage or challenge your customers to change or improve your product
    www.prunsvirata.blogspot.com
  • 6. 2. A Go-Error is when a company permits a poor idea to move into _________ and _________.
    A. Development and commercialization
    B. Commercialization and development
    C. Development and conceptualization
    D. Conceptualization and development
    E. Development and contractualization
    www.prunsvirata.blogspot.com
  • 7. Managing the Development Process : IDEASConcept 2 – IDEA SCREENING
    Drop poor ideas as early as possible
    2 Types of Errors in IDEA SCREENING
    DROP – error : company dismisses a good idea
    GO – error : company permits a poor idea to move into development and commercialization
    Absolute product failure – loses money
    Partial product failure – loses money but covers all variable cost and some fixed costs
    Relative product failure – yields a profit lower than the company’s target
    www.prunsvirata.blogspot.com
  • 8. In order for a product to be successful it should pass through intense screening before it moves from development to commercialization.
    GO – error
    www.prunsvirata.blogspot.com
  • 9. 2. A Go-Error is when a company permits a poor idea to move into _________ and _________.
    A. Development and commercialization
    B. Commercialization and development
    C. Development and conceptualization
    D. Conceptualization and development
    E. Development and contractualization
    www.prunsvirata.blogspot.com
  • 10. 3. The three questions asked in the concept development testing are the following except for ?
    A. When will customers use this product ?
    B. Who will use this product ?
    C. Why will you sell this product ?
    D. What primary benefit should this product provide ?
    E. When will people use this product ?
    www.prunsvirata.blogspot.com
  • 11. Managing the Development Process : CONCEPT STRATEGYConcept 3 – CONCEPT DEVELOPMENT TESTING
    3 Steps in CONCEPT DEVELOPMENT TESTING
    Concept Development
    Who will use this product?
    What primary benefit should this product provide?
    When will people use this product?
    Concept Testing - presenting the product concept to target customers and getting their reaction
    Conjoint Analysis –measures the consumers preference for alternative product concepts
    www.prunsvirata.blogspot.com
  • 12. These three questions gives the information that will help you focus on what strategies to be implemented for a successful product .
    Concept Development
    Who will use this product?
    What primary benefit should this product provide?
    When will people use this product?
    Milk
    Kids
    Adults
    Complete Nutrition
    Home
    School
    Workplace
    www.prunsvirata.blogspot.com
  • 13. 3. The three questions asked in the concept development testing are the following except for ?
    A. When will customers use this product ?
    B. Who will use this product ?
    C. Why will you sell this product ?
    D. What primary benefit should this product provide ?
    E. When will people use this product ?
    www.prunsvirata.blogspot.com
  • 14. 4. In the concept strategy which of the following is part of the 3 part strategy plan?
    A. Product
    B. People
    C. Price
    D. Promotion
    E. Packaging
    www.prunsvirata.blogspot.com
  • 15. Managing the Development Process : CONCEPT STRATEGYConcept 4 – MARKETING STRATEGY DEVELOPMENT
    3 Part Strategy Plan
    Market Size, Structure, Behavior
    Price, Distribution Strategy, Marketing Budget
    Profit goals, Marketing Strategy Mix
    www.prunsvirata.blogspot.com
  • 16. Price is one of the factors that will help you position your products in the market.
    Price, Distribution Strategy, Marketing Budget
    www.prunsvirata.blogspot.com
  • 17. 4. In the concept strategy which of the following is part of the 3 part strategy plan?
    A. Product
    B. People
    C. Price
    D. Promotion
    E. Packaging
    www.prunsvirata.blogspot.com
  • 18. 5. The concept of _________ is a way to determine whether they satisfy the company’s objectives.
    A. Comsumer Analysis
    B. Business Analysis
    C. Competitor Analysis
    D. Customer Analysis
    E. Marketing Analysis
    www.prunsvirata.blogspot.com
  • 19. Managing the Development Process : CONCEPT STRATEGYConcept 5 – BUSINESS ANALYSIS
    Management needs to prepare sales, cost, and profit projections to determine whether they satisfy company objectives through:
    Estimating Total Sales
    Estimating Costs and Profits
    www.prunsvirata.blogspot.com
  • 20. Through business analysis will be able to measure the success of a product versus the company’s objectives, at the end its all about profit.
    Estimating Total Sales
    Estimating Costs and Profits
    www.prunsvirata.blogspot.com
  • 21. 5. The concept of _________ is a way to determine whether they satisfy the company’s objectives.
    A. Comsumer Analysis
    B. Business Analysis
    C. Competitor Analysis
    D. Customer Analysis
    E. Marketing Analysis
    www.prunsvirata.blogspot.com
  • 22. 6. The development of a prototype that embodies the key attributes described in the product-concept statement is called ?
    A. Product Prototype
    B. Physical Prototype
    C. Product-Concept Prototype
    D. Partial Prototype
    E. Promotional Prototype
    www.prunsvirata.blogspot.com
  • 23. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONConcept 6 – PRODUCT DEVELOPMENT
    Physical prototypes – development of a prototype that embodies the key attributes described in the product-concept statement
    Customer Tests- rigorous functional test
    Alpha Testing – testing the product within the firm
    Beta Testing – testing with the customers
    www.prunsvirata.blogspot.com
  • 24. Physical prototypes help gives you an idea on how your product will look like and thus allowing you to modify it according to your customers’ needs.
    Physical prototypes
    www.prunsvirata.blogspot.com
  • 25. 6. The development of a prototype that embodies the key attributes described in the product-concept statement is called ?
    A. Product Prototype
    B. Physical Prototype
    C. Product-Concept Prototype
    D. Partial Prototype
    E. Promotional Prototype
    www.prunsvirata.blogspot.com
  • 26. 7. A method of consumer goods marketing testing which uses advertising resources to measure sales generated from these activities is ?
    A. Conjoint Analysis Testing
    B. Sales Wave Research
    C. Simulated Test Marketing
    D. Controlled Test Marketing
    E. Test Markets
    www.prunsvirata.blogspot.com
  • 27. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONConcept 7 – MARKET TESTING
    Consumer-Goods Market Testing
    Four Major Methods of consumer-goods market testing
    Sales Wave Research – products offered to customers at no cost then measures the customers’ reaction and repeat buy
    Simulated Test Marketing – uses advertising resources such as tv commercials or print ads measures the sales generated from this activities
    Controlled Test Marketing – research firm manages a panel of stores that will carry the new products for a fee
    Test Markets – uses full advertising and promotion campaign to certain cities
    www.prunsvirata.blogspot.com
  • 28. Simulated Test Marketing measures the effect of advertisement resources on your customers’ buying behavior.
    Consumer-Goods Market Testing
    Four Major Methods of consumer-goods market testing
    Sales Wave Research
    Simulated Test Marketing
    www.prunsvirata.blogspot.com
  • 29. 7. A method of consumer goods marketing testing which uses advertising resources to measure sales generated from these activities is ?
    A. Conjoint Analysis Testing
    B. Sales Wave Research
    C. Simulated Test Marketing
    D. Controlled Test Marketing
    E. Test Markets
    www.prunsvirata.blogspot.com
  • 30. 8. What question answers the concept of commercialization if we do a product launch ?
    A. When
    B. Where
    C. To Whom
    D. What
    E. How
    www.prunsvirata.blogspot.com
  • 31. Managing the Development Process : DEVELOPMENT TO COMMERCIALIZATIONConcept 8 – COMMERCIALIZATION
    When (Timing)
    Where (Geographic Strategy)
    To Whom (Target-Market Prospects)
    How (Introductory Market Strategy)
    www.prunsvirata.blogspot.com
  • 32. A product launch is one kind of strategy to introduce new products to the market.
    To Whom (Target-Market Prospects)
    Students
    Runners
    All
    Men Only
    Female Only
    Adults Only
    How (Introductory Market Strategy)
    Product Launch
    Advertisements
    Store Distribution
    www.prunsvirata.blogspot.com
  • 33. A. When
    B. Where
    C. To Whom
    D. What
    E. How
    www.prunsvirata.blogspot.com
    8. What question answers the concept of commercialization if we do a product launch ?
  • 34. 9. The five stages of adoption process are in the following order ?
    A. Awareness, Interest, Evaluation, Trial, Adoption
    B. Interest, Awareness, Trial, Evaluation, Adoption
    C. Awareness, Evaluation, Interest, Trial, Adoption
    D. Awareness, Trial, Evaluation, Interest, Adoption
    E. Interest, Awareness, Evaluation, Trial, Adoption
    www.prunsvirata.blogspot.com
  • 35. CONSUMER – ADOPTION PROCESSConcept 9 – STAGES IN THE ADOPTION PROCESS
    Five Stages of Adoption Process
    Awareness – customer is aware of the product but lacks information
    Interest – customer is stimulated to seek information about the product
    Evaluation – customer considers whether to try the product
    Trial – customer tries the product
    Adoption – customer decides to make full or regular use of the product
    www.prunsvirata.blogspot.com
  • 36. Every customer experience the five stages of the adoption process in order from awareness to adoption before they become loyal to a product. 1- Awareness, 2- Interest
    Five Stages of Adoption Process
    Awareness
    A medical representative introduces a new drug.
    Interest
    Doctor requests for more studies regarding the drug.
    www.prunsvirata.blogspot.com
  • 37. Evaluation
    Doctor reviews the literature and clinical studies provided.
    Trial
    Medical Representative gives the doctor sample medicines for trial patients.
    www.prunsvirata.blogspot.com
    Every customer experience the five stages of the adoption process in order from awareness to adoption before they become loyal to a product. 3- Evaluation, 4- Trial
  • 38. Adoption
    Once proven effective and will improve the quality of life
    of the patient, the doctor will prescribe the medicine to his patients
    and will be his top of mind choice medication for that ailment.
    www.prunsvirata.blogspot.com
    Every customer experience the five stages of the adoption process in order from awareness to adoption before they become loyal to a product. 5 - Adoption
  • 39. 9. The five stages of adoption process are in the following order ?
    A. Awareness, Interest, Evaluation, Trial, Adoption
    B. Interest, Awareness, Trial, Evaluation, Adoption
    C. Awareness, Evaluation, Interest, Trial, Adoption
    D. Awareness, Trial, Evaluation, Interest, Adoption
    E. Interest, Awareness, Evaluation, Trial, Adoption
    www.prunsvirata.blogspot.com
  • 40. 10. In the consumer adoption process the effect of one person has on another’s purchase probability is what type of factor?
    A . Characteristic of the Innovation
    B. Organizations Readiness to Adopt to Innovation
    C. Characteristic of Adoption
    D. Readiness to try new products and personal influence
    E. Organizations readiness to try new products and personal influence
    www.prunsvirata.blogspot.com
  • 41. CONSUMER – ADOPTION PROCESSConcept 10 – FACTORS INFLUENCING THE ADOPTION PROCESS
    READINESS TO TRY NEW PRODUCTS AND PERSONAL INFLUENCE – the effect one person has on another’s attitude or purchase probability
    CHARACTERISTICS OF THE INNOVATION – some products catch on immediately, whereas others take a long time to gain acceptance
    ORGANIZATION’S READINESS TO ADOPT INNOVATIONS – adoption is associated with variables in the organization’s environment
    www.prunsvirata.blogspot.com
  • 42. In the local setting customers buy the products that are endorsed by their idols such as celebrity endorsers.
    READINESS TO TRY NEW PRODUCTS AND PERSONAL INFLUENCE
    Influence of endorsers
    www.prunsvirata.blogspot.com
  • 43. 10. In the consumer adoption process the effect of one person has on another’s purchase probability is what type of factor?
    A . Characteristic of the Innovation
    B. Organizations Readiness to Adopt to Innovation
    C. Characteristic of Adoption
    D. Readiness to try new products and personal influence
    E. Organizations readiness to try new products and personal influence
    www.prunsvirata.blogspot.com
  • 44. Top 10 Learning Questions
    Chapter 20
    Introducing New Market Offerings Marketing Mangement
    Philip Kotler , Kevin Lane Keller 13th Edition
    PaoVirata
    September 2011
    Prof. Bong De Ungria
    pRUNSViRATA
    www.prunsvirata.blogspot.com