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Paolovirata.chap20 tenlearningquestions

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Paolovirata.chap20 tenlearningquestions

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

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